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    BREAKING NEWS
    AfDB President Dr. Akinwunmi Adesina has underscored the significance of Africa Restraining its Reserves and Manufacturing Lithium Batteries for Electric Vehicles to be part of the Global Electric Vehicle Revolution
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    The Board of Governors of the ECOWAS Bank for Investment and Development assigned again Dr. George Agyekum Nana Donkor Board of Governor of the ECOWAS Bank starting February 1st , 2024

    Posted On 08 May 2023
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Bangura-

    ECOWAS Building
    Photo Credit: Africainvestor

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone–  …It carried on during the just-ended 21st Ordinary Session of the Board of Governors held on April 5th, 2023. In carrying the decision, the Board of Governors carried in to review the growth made by the Bank since Dr. Donkor assumed office in January 2020.

    Outstanding accomplishments under his administration comprise the deduction of the Bank’s non-performing loans (NPL) ratio from over 8% to 4.28%, $77.5 million recouped in appreciation of capital arrears, and 36.8% balance sheet growth in 2022.

    The Board similarly asserted Its achievement with the Improvement In the Bank’s credit rating, presently B2 with a regular outlook by both Moody’s and Fitch Rating Agencies, which is the best-ever rating in the Bank’s history and a reflection of the red investor confidence in the Bank, despite the daunting global financial context induced by Covid19 pandemic and the Ukraine-Russia predicament.

    The amiable Chairman of the Board of Governors, Deputy Prime Minister, and Minister for Finance, Business Development, and Digital Economy of the Republic of Cabo Verde, Dr. Olavo Avelino Garcia Correia, noted that the Board of Governors was of the firm notion that Dr. Donkor was the right person to take the Bank to the next tier.

    The Bank’s Board of Directors which approved the renewal of Dr. Donkor’s term of office to the Board of Governors characterized him as a man of impeccable experienced diplomat and a sensible leader who had carried out various admirable endeavors at the helm of the Bank which has resulted in favorable consequences.

    In his response, Dr. Donkor vowed to proceed with helping with testers and the Board to forge ahead to establish overseeing financial institutions to help the region, while  assisting Member States to assure socio-economic developments.

     

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
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    AfDB President Dr. Akinwunmi Adesina has underscored the significance of Africa Restraining its Reserves and Manufacturing Lithium Batteries for Electric Vehicles to be part of the Global Electric Vehicle Revolution

    African Development Bank’s 2023 African Economic Outlook Projects Africa to Become the Second-Fastest Growing Region After Asia

    Ambassador Albert Muchanga African Union Commissioner for Trade And Industry – exhorted African Administrations to Marshal Mobile Domestic Finance by ways to carry out AU’s Agenda 2063

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    • AfDB President Dr. Akinwunmi Adesina has underscored the significance of Africa Restraining its Reserves and Manufacturing Lithium Batteries for Electric Vehicles to be part of the Global Electric Vehicle Revolution
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    • Ambassador Albert Muchanga African Union Commissioner for Trade And Industry – exhorted African Administrations to Marshal Mobile Domestic Finance by ways to carry out AU’s Agenda 2063
    • African Nations Exhorted to take on Modern Sustainable City Planning to enable Stave Off Prospective Emergencies
    • South Africa’s Informal Economy Shows Signs of Movement to Switch toward Cashless Economy, Study

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