GlobalWide News
The Guardian: In an exclusive interview, Akinwumi Adesina, the President of the African Development Bank (AfDB), projects an optimistic future for Africa, countering negative stereotypes about the continent. Adesina asserts that Africa is an attractive investment destination with a burgeoning middle class and demographic advantages that make it key to the future global workforce. He emphasizes the need for Africa to move up the value chain by adding value to its raw materials and ensuring good governance.
The AfDB, established in 1964, focuses on five core areas: universal electricity access, quality of life improvement, industrialization, food self-sufficiency, and continental integration. Adesina highlights the bank’s recent capital increase from $93 billion to $208 billion at the end of 2019, which has been used for emergency support during the Covid crisis and the global food crisis.
He calls for fairer international financial systems, citing Africa’s small share in IMF’s special drawing rights, and says that corruption is not predominantly an African issue. The major challenges that remain, according to him, are climate change and a lack of sufficient global climate finance for Africa. He is optimistic about the continent’s prospects in renewable energy, agriculture, and digital payments, urging people to “believe the data” that supports Africa’s potential.
The entire article can be read at the link https://www.theguardian.com/global-development/2023/oct/13/corruption-not-african-issue-says-afdb-bank-chief-akinwumi-adesina-time-believe-in-continents-future
