Southern African Governors Task AfDB on Economic Development

Enterprise Television- Southern African Governors Task AfDB on Economic Development

Southern African Governors of the African Development Bank (AfDB) have called on the bank to lead the way to faster-paced development of the African Continent.

The AfDB, on Tuesday said the governors as well as Finance Ministers from African countries like Angola, Lesotho, Madagascar, Malawi, Mozambique, and Namibia shared their thoughts at a regional consultation with AfDB in Abidjan, Côte d’Ivoire.

Also present at the meeting were Ministers of Finance and Planning from São Tomé and Príncipe, South Africa, Swaziland, Zambia and Zimbabwe respectively.

The Governors expressed concern about the Southern African region’s low growth performance in 2017 and the fact that nine out of 10 developing countries would be in Africa by 2030.

Madagascar’s Minister of Finance and Budget, Mrs Vonintsalama  Andriambololona, said many challenges faced by Africa required that the continent sit up in order to develop and to grow.

She also commended the Bank’s leadership in reducing time delays between project conception and first disbursements, which she noted was faster with the AfDB than with any other multi-lateral development institution.

However, the AfDB president, Mr Akinwumi Adesina, said in 2017, the Bank accelerated the scale and delivery of its lending and achieved the highest disbursement ever in its history with over 7.2 billion dollars.

According to 2010-2017 figures, 18 million Africans benefitted from new electricity connections and 57 million Africans benefitted from improvements in agriculture.

Adesina called for collective action to scale-up implementation of Africa’s development, noting that a faster-paced development was what the continent needed.

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