• 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
    $1.1 Billion Senegal’s postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World
    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    Nigeria Launches National Domestic Payments Card Program
    In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
    $30 Billion has been pledged by the African Development Bank and Development Partners to Finance Food and Farming in the Next Five Years
    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing
    Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report
    Growers in Uganda to succeed from Nigeria’s AFEX’s Tech-Enable Products having expanding its Products Exchange Business in Nigeria’s AFEX from Kenya

    Africa Development Bank, Urges Africa to Risk Capital for its Youth and Women Development

    Posted On 29 Dec 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 14

    By Richard Adorsu-

    Photo Credit: Global Network of Religions for Children

    NEW AFRICA BUSINESS NEWS (NABN) Accra, Ghana–  Africa must leverage investment to unleash the potential and ingenuity of its youth, its most important asset, African development Bank, President Akinwumi Adesina said at the Montreal fireside chat event.

    The three-day virtual event was organized by the international economic forum of the Americas, under the theme,
    a sustainable recovery for people and planet.

    During the fireside chat, Adesina engaged in discussion with Inger Andersen, Under-Secretary-General of the
    United Nations; Executive Director of the UNEP Jean Lebel, President of the International Development
    Research Centre (IDRC) moderated the discussion, which covered three areas: the current state of affairs with
    respect to COVID-19 and climate change, stimulus policies and recovery, and the role of the private sector in
    terms of recovery.

    “Climate change is an existential crisis,” Andersen said, and one that the planet must face together. The four
    largest economies account for 55% of emissions, Andersen pointed out, adding that the brunt of the impact will
    fall on African countries as well as delta and low-lying small economies around the world. “Any recovery has
    to have a degree of solidarity with it,” she said.

    Adesina reiterated that climate change posed a grave threat to Africans. “We have to grow differently, he said.
    We have to have growth that is climate resilient. Adaptation must be at the top of the agenda. The risk of actually
    dying from hunger is higher than the risk of dying from Covid-19.”

    He noted the Bank’s commitment to mobilize $25 billion for climate finance by 2025 as well as a number of
    Bank initiatives that are addressing climate adaptation, such as TAAT, which has provided Sudanese farmers
    access to heat tolerant maize and farmers in Zimbabwe, Malawi and other southern African countries.

    “The other way that one can grow back in a way that is climate resilient is by actually providing the countries
    with facilities that will allow them to insure themselves against exogenous climate shocks,” including the Bank’s
    ADRIFI program. Moving away from a linear economy and investing in nature’s infrastructure offered part of the solution, Andersen said.

    “Companies that jump into circularity, SDG 12, sustainable consumption and production, companies that do
    that, will save money, resources will be more circular, they will leapfrog, they will have a market edge, and they
    would have a lesser need for resource inputs. We’re seeing it in some sectors. Plastics, textiles, fashion, and
    food.”

    The issue of inequality ran through the discussion. Adesina admitted that the pandemic had worsened inequality in many spheres, education, rural versus urban, and the differences between the genders in terms of access to education and to finance. “You cannot grow economies without focusing on women. Women run Africa. Most of them are in the informal sector.

    They lack access to finance. There’s a $49 billion financing gap between them and men. That’s why the Bank
    launched a $5 billion initiative called Affirmative Finance Action For Women in Africa (AFAWA), so we can
    close that particular inequality.”

     

    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

    Julius Berger Nigeria Plc, Saturated with considerable Excellence Awards across all realms of its Investment Operations in Nigeria

    Next Story

    Angola Bolster Production Diversify Exports and Replaces Imports

    14 Comments

    1. Sam December 29, 2020 at 1:40 am Reply

      Our African Countries in the Continent, should surely invest more money and resources to our youths, future leaders and women. Lagos Nigeria. Sam

      • New Africa Business News, Staff Correspondent December 29, 2020 at 1:41 am Reply

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

    2. Michelle December 29, 2020 at 1:45 am Reply

      Thank you for the report. The youths and our Women, should be highly invested, upon. MAKE AFRIKA GREAT. Kampala Uganda. Michelle

      • New Africa Business News, Staff Correspondent December 29, 2020 at 1:46 am Reply

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

    3. Joe December 29, 2020 at 1:51 am Reply

      The youths are the future of our great Continent. Governments need to invest in them. Africa is a young and vibrant, very smart majority population. Nairobi Kenya. Joe

      • New Africa Business News, Staff Correspondent December 29, 2020 at 1:52 am Reply

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

    4. Philip December 29, 2020 at 1:55 am Reply

      Thank you for a great news year and reports. We love your online newspaper. You guys are the best. Philip in Oxford, England.

      • New Africa Business News, Staff Correspondent December 29, 2020 at 1:56 am Reply

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

    5. Martin December 29, 2020 at 2:00 am Reply

      Our youths are transforming, Africa for the best and thank you, Journalist Adorsu, with your team. Kigali Rwanda. Martin

      • New Africa Business News, Staff Correspondent December 29, 2020 at 2:01 am Reply

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

    6. Kufuo December 29, 2020 at 2:05 am Reply

      Our youths are the best and the greatest. Let’s invest in them. Thank you for reporting. Accra Ghana. Kufuo

      • New Africa Business News, Staff Correspondent December 29, 2020 at 2:05 am Reply

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

    7. Melvin December 29, 2020 at 2:08 am Reply

      Thank you for the newsletters and thank you, Richard. Lusaka Zambia. Melvin

      • New Africa Business News, Staff Correspondent December 29, 2020 at 2:09 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

    $1.1 Billion Senegal's postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World

    Posted On 07 Feb 2023

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    Posted On 06 Feb 2023

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Posted On 03 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    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

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Facebook

    Latest Posts

    $1.1 Billion Senegal's postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Recent Posts

    • $1.1 Billion Senegal’s postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World
    • A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    • $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    • Nigeria Launches National Domestic Payments Card Program
    • In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States

    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.