• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    East African Community Unveils Bioeconomic Strategy for the next Decade
    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent’s Food Security
    Ghana & Nigeria to Improve Cross-Border Trade
    Tanzania Seeks to Reach New Record Cashew Production by 2025
    Nestle Nigeria Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living
    World Trade Organization published…Trade plays an Important facet in Access to Medical, Goods and Services
    African Development Bank Group President Calls for More Partnerships to Build Africa’s Social Infrastructure
    Ghana, Key Stakeholders: Sign a Renewable Energy Agreement Worth US$69.88 Million to Improve Access and Socio-Economic Development
    Africa Development Bank Approves $1.5 Billion Facility to Counter Food Crisis on the Continent
    Sh32 Billion of Phase 2 of Second Container Terminal of the Kenya Ports Authority at the Port of Mombasa is finished off and…commissioning in June of 2022

    Africa Development Bank’s Investments are Transforming the Continent, Unlocking Economic Potential and Spurring Development, Report

    Posted On 26 Nov 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 10

    By Richard Adorsu-

    Photo Credit: African Development Bank

    NEW AFRICA BUSINESS NEWS (NABN) Accra, Ghana– From agro-processing initiatives to energy, transportation and water and sanitation services, transformative investments by the African Development Bank are paving the way to unlock Africa’s economic potential, according to the 2020 Annual Development Effectiveness Review (ADER). The report, which analyzed the Bank’s contribution to Africa’s development in 2019 is themed Building resilient African economies.

    Akinwumi Adesina, President, African Development Bank said: “Our goal has been and always will be to transform Africa through investments that make a difference to those who need it most. We are a bank that invests in people. People are our core business. Their quality of life is our greatest return!”

    The annual report uses the Bank’s results measurement framework to measure its performance, to reflect on its accomplishments and areas in which it can strengthen its effectiveness to achieve its High 5 development goals: Light Up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa.

    Swazi Tshabalala, Acting Senior Vice-President and Chief Finance Officer, African Development Bank said: “We have increased the quality and speed of our operations, we are more present in partner countries, and our development impact is deepening.” Among its findings in 2019, 20.3 million people benefited from improved agriculture in Africa
    through operations supported by the Bank. In Uganda, for instance, the Bank’s support for the Community Agricultural Infrastructure Improvement Programme is boosting farmers’ income through agro-processing initiatives, and better access to markets, benefiting 2.4 million rural households.

    In other High 5 areas, the Bank’s operations helped to install 291 MW of new power capacity – 60% of which was renewable, and supplied 468 000 people with new electricity connections. It  also impacted 1 million people through private sector investee companies, 17.7 million people through better transport services, and 10.1 million people through improved access to water and sanitation.

    The Bank has always been a strong champion of regional integration in Africa through supports focused on catalyzing public and private investment in road, transport, and electricity connectivity. For instance, in 2019, the Bank helped build or rehabilitate transport links between Burundi, Rwanda, and the East Africa Community; between Ethiopia and Kenya; and between Kenya and Tanzania.

    Simon Mizrahi, Director for Delivery, Performance Management and Results, African Development Bank said: “We must continue to build on our strength as a development agency and enhance the quality and impact of our operations so that Africa can achieve the sustainable development goals by 2030.”

    The Bank has worked intensively through its presence in 41 countries to get its operations closer to its clients, respond more effectively to the needs of countries, and better manage its operations.

    Covid-19 global pandemic’s growing foothold across Africa is shifting governments’ priorities. These projects and the Bank’s new Covid-19 Rapid Response Facility will support  African countries and businesses through the crisis.

     

    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    United Bank for Africa Regurgitated Allegiance to Grassroots Broadening its Agency Banking Network to Twenty African Nations

    Next Story

    Rwanda Approves Deal for the Ratification of Bilateral Air Service Agreements with Five Countries

    10 Comments

    1. Hannah November 26, 2020 at 2:04 am Reply

      I like to thank you for the newsletters. Love it. Oxford, England. Hannah

      • New Africa Business News, Staff Correspondent November 26, 2020 at 2:04 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Patricia November 26, 2020 at 2:09 am Reply

      He is a great Leader, Dr. Akinwumi Adesina, President of African Development Bank. He is doing a great job. Kampala Uganda. Patricia

      • New Africa Business News, Staff Correspondent November 26, 2020 at 2:10 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Andre November 26, 2020 at 2:14 am Reply

      Thank you, Richard for the report. Anytime I read great developments of our great Continent, it really gives me hope. Johannesburg South Africa. Andre

      • New Africa Business News, Staff Correspondent November 26, 2020 at 2:14 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Nobel November 26, 2020 at 2:18 am Reply

      I love the building resilient African economies for all of us. Thanks for the report. Gaborone Botswana. Nobel

      • New Africa Business News, Staff Correspondent November 26, 2020 at 2:19 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Emmanuel November 26, 2020 at 2:24 am Reply

      Africa’s regional integration is just the beginning. The Continent shall be one Country, as it was. Abuja Nigeria. Abuja Nigeria. Emmanuel

      • New Africa Business News, Staff Correspondent November 26, 2020 at 2:24 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    East African Community Unveils Bioeconomic Strategy for the next Decade

    Posted On 29 Jun 2022

    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent's Food Security

    Posted On 24 Jun 2022

    Ghana & Nigeria to Improve Cross-Border Trade

    Posted On 21 Jun 2022

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    New Africa Business News, Person of the Year 2020-2021, Goes to Dr. Arikana Chihombori Quao

    Posted On 01 Jan 2021

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Facebook

    Latest Posts

    East African Community Unveils Bioeconomic Strategy for the next Decade

    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent's Food Security

    Ghana & Nigeria to Improve Cross-Border Trade

    Recent Posts

    • East African Community Unveils Bioeconomic Strategy for the next Decade
    • Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent’s Food Security
    • Ghana & Nigeria to Improve Cross-Border Trade
    • Tanzania Seeks to Reach New Record Cashew Production by 2025
    • Nestle Nigeria Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.