Adesina calls for improved access to finance to speed up Africa Economic Transformation

The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina has called for improved access to financing to accelerate the transformation of African economies.

Speaking at the Africa-France Summit held in Bamako, Mali, the AfDB President emphasized the need for the countries on the African continent to align with the Bank’s “High 5s”- Light up and power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the quality of life of African population.

Noting that the resources needed for Africa’s economic transformation are enormous, Adeshina informed that the African Development Bank is poised to launch the Africa Investment Forum designed to create a space where supply and demand can meet.

Advocating for agroindustrialisation and active youth participation in the agricultural sector, Adesina said, “…the solution to the migratory crisis is in Africa. This is why the Bank launched the Enable Youth program, which will help create 1.5 million jobs in 30 countries, helping to retain young people in Africa”.

Also highlighting the need to reduce areas of fragility in the continent, he explained that the reason AfDB launched the Forum on Resilience in Africa, was to be able to achieve these High 5s in 10,000 communities in 1,000 days, with an immediate impact in fragile areas.

He however urged African leaders to work together to achieve the set goals.

“Let’s mobilize and make the High 5 reality in order to unleash the potential of Africa,” he concluded.