RMDB Seeks Mobilisation of Domestic Capital for Critical Sector Development 

Oluchi Chibuzor

The President and Chief Executive Officer of  Regional Maritime Development Bank (RMDB), Mr Adeniran Aderogba, has stressed the need for the mobilisation of domestic capital to support the development of Africa’s critical sectors. 

Speaking at the African Natural Resources and Energy Investment Summit (AFNIS 2025), held at the State House Conference Centre, Presidential Villa, Abuja, Aderogba highlighted the strategic role of financial institutions like the RMDB in advancing sustainable development across the continent.

The summit, themed, “Harnessing Local Content for Sustainable Development,” convened senior government officials, industry leaders, investors, and development partners from Africa and beyond. Discussions centred on leveraging local content development as a cornerstone of economic growth, with a focus on building inclusive, resilient and future-facing resource governance frameworks.

Speaking on the sidelines of the event, Aderogba underscored the critical importance of shifting the financing narrative from dependence on foreign capital to a more deliberate mobilisation of domestic financial resources. 

He said, “If we are serious about sustainable development, we must stop relying solely on external capital. Africa needs to harness its own domestic financial instruments, institutions and networks to fund infrastructure, energy, maritime logistics, and other critical enablers of industrialisation.”

He noted that local content development cannot be achieved in isolation from financial sustainability and that African capital markets and institutions must evolve to meet the scale and complexity of the continent’s development needs. 

According to him, the RMDB was established with a mandate to close long-standing gaps in maritime and trade-related infrastructure financing and is now positioning itself as a partner for broader development finance initiatives.

Aderogba also stressed the need for improved coordination between governments, financial institutions, and private investors to align policies and reduce duplication.