African private sector endorses AfDB president, Adesina for 2nd term

Written by on June 10, 2020

The African private sector, under the aegis of African Business Roundtable and the umbrella body for the Organised Private Sector (OPS) in Sub Saharan Africa, has expressed its satisfaction with the outcome of the investigations by the African Development Bank’s (AfDB) ethics committee, which absolved the Bank’s President, Dr. Akinwumi Adesina, from trumped up allegations by some whistleblowers staff of the institution.

Consequently, the continental OPS body on Monday, in a statement signed by its President Emeritus, Dr. Bamanga Tukur, (Tafidan Adamawa), endorsed him for election for a second term as the president of the development finance institution.

Noting that the findings of the ethics committee on the allegations and its decision are sufficient to lay all the spurious allegations by the ‘faceless’ whisteblowers to rest, the group described further calls for another probe or presence of external influence and interference, mistrusting the credibility of the bank’s governing principle as capable of disrupting Africa’s continuous economic growth, infrastructure development and investment.

The group’s President Emeritus recalled that the AfDB, which has been playing a major role in driving Africa’s development and is known to have a reputable standard globally under the leadership of Dr. Adesina, had been highly visible and impactful across the continent in the last five years

Tukur, a double national honours awardee, noted that the AfDB president’s vision for Africa’s development through the Bank’s High 5 transformative agenda had positively impacted over 333 million people, envisaging well planned interventions ranging from access to electricity, improved food security, access to private sector finance, improved transport infrastructure and access to water and sanitation.

Amongst other developmental initiatives undertaken by the Bank to facilitate inclusive and private-sector driven development in the continent in recent years, the group cited launching in year 2018 of the Africa Investment Forum (AIF) in Johannesburg, as significantly remarkable with about $38.7 billion raised in investment after the forum

This is even as the group lauded the Bank on its 2019 innovative Desert to Power project, which will develop 10,000 megawatts of solar power across 11 countries in the Sahel Region and provide electricity for 250 million people.

According to the OPS group, when completed, the $20 billion investment will be the world’s largest solar zone.

It also recalled that Dr. Adesina led the Bank to launch $3 Billion “Fight COVID19” social bond to shield the economic and social impacts of COVID-19 on Africa and also $10 billion COVID-19, which is available in a stimulus facility.

The Roundtable President Emeritus further stated: “Dr. Adesina’s ground-breaking Affirmative Action for Women in Africa (AFAWA), launched at the 2019 G7 Summit in Biarritz, France received strong support from President Macron and the G7 leaders pledge of $251 million and from African Presidents at the Global Gender Summit in Rwanda. AFAWA will leverage $3 billion in women business financing.
“In his tenure, he accomplished a secured General Capital of $115 billion, which is the largest in the history of African Development Bank”, Tukur added.

Tukur, therefore, declared the group’s total support for Dr. Adesina’s bid for another term as the President of the AfDB in the development finance institution’s quest to bring about a prosperous, sustainable and inclusive growth in Africa.

Read more: https://www.dailytrust.com.ng/african-private-sector-endorses-afdb-president-adesina-for-2nd-term.html



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