Njathi Kabui

Mali, Burkina Faso, and Niger have jointly launched a regional investment bank worth $895 million, backed by an initial capital of 500 billion CFA francs, to fund projects in infrastructure, energy, and agriculture. The initiative brings together resources from the three mineral-rich Sahel countries major gold producers Mali and Burkina Faso, and uranium-rich Niger according to Bloomberg. Speaking after the signing ceremony in Bamako, Burkina Faso’s Finance Minister Aboubakar Nacanabo said establishing the bank is essential for financial stability, economic growth, and financing strategic development projects. To capitalise the lender, the three governments plan to rely on new tax measures. Reports indicate each country will contribute around 5% of its tax revenue, a move aimed at reducing dependence on foreign donors and gaining greater control over national development priorities. The launch comes as the three nations, which have exited ECOWAS, face political instability, climate stress, and ongoing security challenges. They have accused the regional bloc of failing to adequately support their fight against Islamist insurgencies. Mali’s Finance Minister Alousséni Sanou confirmed that the bank is now officially operational following the initial funding, adding that the next step will be appointing its leadership to mobilise additional resources across the region.