African Development Bank Group unveiled its bold Ten-Year Strategy for 2024ā2033. It's basically a roadmap designed to tackle Africaās big challenges and set the continent on a path towards lasting economic growth and prosperity.
At the Annual Meetings in Nairobi, Kenya, Akinwumi Adesina, the President of the African Development Bank Group, introduced the strategy. He talked about how crucial the next ten years are for Africaās transformation, especially given the tough times brought on by the Covid-19 pandemic. From food shortages to growing debts, climate change impacts to political unrest, Africa's facing a lot.
But amidst these challenges, Adesina sees hope. He believes Africa's got what it takes to turn things around. With the youngest and fastest-growing workforce globally, bustling urban markets, abundant natural resources, and heaps of clean energy potential, Africaās future looks bright.
So, what's in this strategy? Well, it's got two main goals: speeding up green growth and building strong, prosperous economies. And it's not just about growth; it's about doing it in a way that's fair and sustainable.
The plan builds on the success of the past decade's initiatives, focusing on things like getting everyone access to affordable energy, making sure there's enough food for everyone, creating jobs through manufacturing, and connecting African countries more closely. Plus, it's all about improving life for everyone, especially women and young people.
And hereās the cool part: the strategy doesnāt just rely on the African Development Bank Group alone. It wants to work closely with businesses, especially those led by women and young people, to make things happen.
But, of course, none of this comes without a cost. The bank plans to raise funds from various sources, including private investors, to triple private-sector finance by 2033. And they're exploring new ways to get more funding too.
Overall, the strategy is a big commitment to making a difference in Africa and tackling global challenges head-on. Itās all about making sure Africaās voice is heard and its potential realized.
ļ»æ
https://www.afdb.org/en/news-and-events/press-releases/african-development-bank-group-boost-its-financing-capacity-over-70-billion-it-launches-new-ten-year-strategy-71299
ļ»æ
ļ»æ
ā¢
19 w
Tripling private-sector finance by 2033 is a big goal, but with Africa's potential for clean energy āļø and a booming young population, it's achievable!
ā¢
19 w
The AFDB has been very instrumental in bringing about lasting change across Africa.
ā¢
ā¢
19 w
As far as strategy goes, this ambitious plan is a great step forward. It focuses on green growth, economic prosperity, and inclusivity, particularly for women and youth. Successful implementation could significantly transform Africa's economic and environmental landscape.
ā¢
19 w
Good framework.I trust it materialises within the set period
ā¢
ā¢
19 w
This is great news for Africa!!This represents a strategic framework that will drive transformative change across Africa through targeted interventions.