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Conakry, the capital of Guinea, played host to a major continental gathering that brought together leaders in local development and decentralised financing. From June 24 to 25, 2025, the city welcomed the International Symposium on Local Development Financing through Mining Resources, held in tandem with the General Assembly of the African Network of Local Government Finance Institutions (RIAFCO).
The two-day event culminated in Guinea being elected to lead the network, a move seen as a significant strategic pivot in its regional influence.
Ambition at the Forefront of Guinea’s Presidency
Sékou Mawa Touré, Director General of Guinea’s National Agency for Local Government Financing (ANAFIC), was elected President of RIAFCO for a three-year term, succeeding Côte d’Ivoire’s Fidel A.
Yapi.
“This choice honours Guinea and obliges me,” Touré declared in his inaugural address, paying tribute to the nation’s progress in local finance and offering gratitude to the President of the Republic, the Prime Minister, and the country’s decentralisation authorities.
A Vision for a Transformed and Inclusive RIAFCO
Touré unveiled a forward-looking roadmap aimed at transforming RIAFCO into a key player in African territorial development.
His agenda includes:
Expanding membership to include more Anglophone and Lusophone countries, promoting a truly pan-African RIAFCO;
Advocating for increased public funding from national governments to support local communities;
Creating collaborative digital platforms and thematic working groups to pool expertise;
Aligning with international standards (ISCO, FATF, IMF) and embracing financial innovations such as blockchain, green bonds, and crowdfunding;
Fostering strategic partnerships with institutions like the African Development Bank and the Global Fund for Cities Development (FMDV);
Launching an Institutional Performance Observatory and a digital expertise portal to professionalise local financing bodies.
“RIAFCO must be seen, heard, and listened to,” Touré emphasised, signalling his intent to position the network as a powerful voice in regional and global discussions on urbanisation, taxation, and development funding.
A Warm Farewell and a Clear Call to Action
Outgoing President Fidel A.
Yapi praised Guinea’s leadership and urged Touré to “travel across Africa to elevate RIAFCO to the ranks of leading African institutions.
” With a blend of solemnity and camaraderie, he added, “Guinea is back.”
Speaking on behalf of the Guinean government, Mohamed Siké Camara, Secretary-General of the Ministry of Territorial Administration, pledged state support, vowing swift implementation of the symposium’s resolutions to ensure real impact for both Guinean and African communities.
Concrete Recommendations for Territorial Justice
The event concluded with strong recommendations aimed at governments, donors, civil society, and local leaders.
These focused on:
Strengthening financial mechanisms;
Ensuring transparency in mining revenue management;
Engaging citizens in development processes;
Supporting financial decentralisation as a cornerstone of inclusive growth.
Guinea’s new leadership of RIAFCO signals more than a ceremonial victory—it marks a determined push for innovation, solidarity, and transformative local development across Africa.
With Conakry setting the course, RIAFCO is poised to become a vital driver of territorial justice and sustainable growth across the continent.
