Source: African Development Bank Group (AfDB) |

Closing Speech by Dr. Akinwumi A. Adesina President, African Development Bank Group, 2020 Annual Meetings African Development Bank Group August 27, 2020

The 2020 Annual Meetings of the African Development Bank have been exciting, intense, and rich in debate and dialogue!

Honorable Niale Kaba, Chairperson of the Board of Governors Your Excellencies, Governors Members of the Board of Directors Senior Management and Staff of the African Development Bank (www.AfDB.org) Ladies and Gentlemen The 2020 Annual Meetings of the African Development Bank have been exciting, intense, and rich in debate and dialogue!…

Source: African Development Bank Group (AfDB) |

2020 Annual Meetings of the African Development Bank: a renewed commitment to economic resilience in Africa

The highlights of the 2020 sessions are the election of the Bank Group’s president and the statutory meetings of its Governors

The 55th Annual Meetings of the African Development Bank (www.AfDB.org) and the 46th meetings of the Board of Governors of the African Development Fund (ADF) began in Abidjan, Côte d’Ivoire, on Wednesday, 26 August 2020. In his opening speech, the President of Côte d’Ivoire, Alassane Ouattara, highlighted the unusual context of…

Source: African Development Bank Group (AfDB) |

Post COVID-19: Rebuilding Africa and strengthening its resilience against future economic shocks (By Charles Leyeka Lufumpa)

By Charles Leyeka Lufumpa, Acting Chief Economist and Vice President for Economic Governance and Knowledge Management at the African Development Bank Group

After demonstrating its resilience during the Ebola outbreak and the global financial crisis, Africa is once again facing a severe test of its strength and agility because of the coronavirus pandemic. The good news is that the continent has entered this crisis in reasonably good shape following decades of progression…

Source: African Development Bank Group (AfDB) |

Regional Integration as a Tool for Wealth Creation in Africa (By Khaled Sherif)

There is a need to focus on fundamentals: producing more of what Africa consumes, and consuming more of what Africa produces

The COVID-19 pandemic and its health and economic impacts has forced a global rethink of the current multilateral framework and what it means for the future. For Africa, COVID-19 has served as a wake-up call in many ways. The mitigation measures that were put in place by most countries, globally,…

Source: African Development Bank Group (AfDB) |

‘Africa’s outlook is positive,’ African Development Bank tells Indian investors and officials

The African Development Bank and India have a long-standing strategic partnership dating back almost 40 years to 1982

The groundwork has been laid for Indian investors who are looking to invest in Africa. During a recent virtual conference hosted by the Confederation of Indian Industry (CII) and its partners, officials called for Indo-African partnerships to go beyond government-to-government cooperation and promote private sector participation in order to accelerate…

Source: African Development Bank Group (AfDB) |

Awakening the entrepreneurial spirit of every young African is key to continent’s future, development leaders agree

The webinar, themed Investing in Africa’s Future: Youth Empowerment Through Entrepreneurship, invited a range of private and public sector representatives to discuss the challenges young African entrepreneurs face

The African Development Bank (www.AfDB.org) joined a number of development leaders in calling for greater support of youth entrepreneurship during a virtual event organized by the Tony Elumelu Foundation. The webinar was timed to coincide with International Youth Day, which fell on Wednesday 12 August, 2020. “Africa is young, and…

Source: African Development Bank Group (AfDB) |

In Lesotho, An African Development Bank project enhances primary and secondary school education - report

The eight-year project focused on improving the quality of primary and secondary instruction and building skills to give young people access to better job opportunities

An education project in Lesotho, financed by the African Development Bank (www.AfDB.org) and implemented between 2008 and 2016, has provided the country with new primary and secondary school infrastructure and teacher training to enhance educational quality, according to a recently published report by Bank. The Support to Education Quality Enhancement…

Source: African Development Bank Group (AfDB) |

Road to Annual Meetings: South African villagers find fresh water in ancient mountain springs

After undertaking a cost analysis of equipment to supply water from springs to village, community members pooled funds to buy it, and set up their water scheme

The village of Tsakhuma in the Vhembe district of South Africa’s Limpopo region is proof positive that communities can find solutions to their problems. Like many rural areas in South Africa, Tsakhuma lacked access to water for bathing, cooking, washing and chores, and the burden of fetching water fell on…

Source: African Development Bank Group (AfDB) |

African Development Bank Regional Economic Outlook 2020: COVID-19 response and economic diversification crucial to growth recovery in Southern Africa, the most affected region

Impact of COVID-19 in South Africa projected to affect rest of Southern African economies

Report recommends inclusive, broad-based and pro-poor policies to address inequality and reduce poverty rates; Impact of COVID-19 in South Africa projected to affect rest of Southern African economies. A higher level of preparedness is urgently needed to prevent and mitigate the COVID-19 pandemic in Southern Africa, including additional resources for…

Source: African Development Bank Group (AfDB) |

After COVID-19, will Africa Catch Up, Stand Still or Fall Further Behind? (By Professor Banji Oyelaran-Oyeyinka)

With this crisis comes an economic disruption of unprecedented proportion

At one time or another, nations and individuals confront crisis points – moments of existential challenge that also open up new possibilities. African countries, at just such a crisis point as a result of the novel coronavirus, face three possible outcomes post-pandemic: play catch-up, stand still or fall even further…