Consider this - between 2012-14, about four million Africans benefitted from new or improved access to water and sanitation, 11 million Africans were provided with new electricity connections, about ten million Africans reaped benefits from improvements in agriculture, and about 49 million and 19 million Africans benefitted from better health services and improved transportation respectively.
These happy statistics are a result of the policies and labour of an institution that now stands at the centre of Africa’s transformation - the African Development Bank Group, which comprises of three component parts: the African Development Bank, the African Development Fund and the Nigeria Trust Fund.
The keystone of the Group, however, is the African Development Bank. Headquartered in Abidjan, Cote d’lvoire, the Bank was established in 1964, as a multilateral development finance institution to fight poverty and promote sustainable economic growth and social progress in Africa.
In a conversation with The Times of Africa, Mr. Akinwumi Ayodeji ADESINA, the eighth President of the African Development Bank, highlights the significance of the High 5s, his comparative analysis of the financial situation in the 54 nations of the African continent and why agriculture as a business model has the potential to create the next generation of millionaires in Africa.
Sir, what are the ‘High 5s’ of the African Development Bank?
High 5s are the priority sector areas aligned with and building on the 2013-2022 strategy that sets out two primary objectives of promoting inclusive growth and a gradual transition to green growth. The priority sector areas include: Lighting up and powering Africa, Feeding Africa, Industrializing Africa, Integrating Africa and Improving the quality of life for the people of Africa.
You have worked and lived extensively in about 15 African nations, cutting across West, East and Southern Africa. If you were to comparatively analyse the situation of financial inclusion in these nations, which country do you think needs the most assistance?
This story is from the May 2017 edition of The Times Of Africa.
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This story is from the May 2017 edition of The Times Of Africa.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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