The Capital Markets Development Trust Fund (CMDTF) has launched a call for proposals with an allocation of $4.8 million to strengthen Africa’s financial markets. This opportunity is open to entities based in countries that are members of the African Development Bank, which can access funding between 2025 and 2028. The goal is to promote the modernization of market infrastructure, support regulatory reforms, encourage the diversification of products and services, and enhance institutional capacities across the continent.
The CMDTF, managed by the African Development Bank, works to strengthen African capital markets, aligning with its broader mission of mobilizing resources through national financial markets. Eligible entities to participate in this call include stock exchanges, capital markets authorities, central banks, government ministries responsible for finance, and regional and continental organizations, among other key stakeholders.
Funding will be distributed strategically, with approximately 30% allocated to strengthening regulatory and legal frameworks, while 20% will focus on modernizing capital markets infrastructure, such as improving stock exchanges and bond auction platforms. An additional 30% of funds will go towards diversifying products and services, such as green bonds and financial instruments targeting SMEs. The remaining 20% will aim to expand the investor base by improving transparency and compliance with extraterritorial jurisdictions.
The CMDTF will also support knowledge dissemination through organizing events and publishing research on the development of financial markets in Africa. Through this call, the African Development Bank seeks to strengthen the financial environment across the continent and facilitate access to the capital needed to drive economic development and regional integration.
Proposals must be submitted by May 16, 2025, at 23:59 GMT. To participate, interested entities should submit their complete proposals via the African Development Bank’s online portal: www.afdb.org/en/cmdtf-2025-call-for-proposals. Proposals should include a detailed project description, specific objectives, a work plan, a clear budget, and a justification of how the project will contribute to the development of capital markets in Africa. Additionally, a formal commitment and compliance statement with the AfDB’s regulations and policies should be submitted.
For further inquiries, entities can contact the CMDTF team via email at: cmdtf@afdb.org. This is a key opportunity for African entities looking to contribute to the modernization and strengthening of capital markets in Africa.
