The president of the African Development Bank (AfDB) Group, Dr. Akinwumi Adesina, has emphasized the need to bridge international financial markets with African economies to unlock the continent's economic potential.
Speaking during a recent visit to United Bank for Africa (UBA UK) Limited's office in London, Dr. Adesina challenged misconceptions about Africa's investment risk. Citing data from Moody's Analytics, he noted that Africa's investment default rate over the last 14 years stood at only 1.7%, significantly lower than Latin America's 13% and Eastern Europe's 10%.
Adesina, a vocal advocate for Africa as a global investment destination, stressed the importance of collaboration between institutions. He highlighted the AfDB's more than 20-year relationship with UBA Group, calling it one of several strategic partnerships advancing Africa's economic development.
Read also
"Our collaboration has deepened over time, driven by our shared goal of enhancing Africa's economic landscape," he said.
Theresa Henshaw, CEO of UBA UK, also reiterated the bank's commitment to supporting investment and trade flows into Africa, leveraging its understanding of the African financial ecosystem.
The meeting also focused on sectors key to AfDB's development goals, including agriculture, energy, women's financial inclusion, and youth entrepreneurship.
Dr. Adesina spotlighted the Affirmative Finance Action for Women in Africa (AFAWA), an initiative launched in 2019 to close the $49 billion financing gap for women-led businesses. As of March 2025, AfDB has approved $2.5 billion in financing under AFAWA, disbursing over $1.2 billion to women entrepreneurs across 44 African countries and supporting more than 24,000 women through funding and training.
No comments:
Post a Comment