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“Africa will be the pivotal continent in the world, given its economic prospects”—African Development Bank Group President

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African Development Bank

Dr Akinwumi Adesina delivered an inspiring address to a diverse audience of diplomats, investors, academics, politicians, and media, emphasizing Africa’s untapped potential and abundant opportunities

LONDON, United Kingdom, June 11, 2024/APO Group/ — 

Financing is key to unlocking Africa’s development opportunities; Dr Adesina tells Chatham House: “Africa can no longer be ignored.”

In a packed auditorium at the renowned Chatham House, African Development Bank President Group Dr Akinwumi Adesina delivered an inspiring address to a diverse audience of diplomats, investors, academics, politicians, and media, emphasizing Africa’s untapped potential and abundant opportunities.

In his presentation on Friday, “Envisioning Africa’s Economic Prospects,” Adesina explained the reasons behind his optimism and passion for Africa.

The Bank Group president said Africa is a continent of tremendous opportunities. It is endowed with and characterized by a young, dynamic and vibrant workforce, massive renewable energy potential, abundant biodiversity resources, rapid regional integration and innovative solutions designed to unlock the continent’s vast natural capital.

Adesina outlined the resilience of Africa’s economies despite global challenges, noting that the continent remains the second-fastest-growing region after Asia. He cited the Bank’s African Economic Outlook Report (https://apo-opa.co/4aUEW5r), which shows the  the continent’s  3.7% economic growth for 2024, increasing to 4.3% in 2025. The report which was launched during the Bank’s May Annual Meetings in Nairobi revealed that 15 countries achieved real growth rates of at least 5 percent, and half of the world’s 20 fastest-growing economies are in Africa.

However, he said achieving strong economic prospects and resilience will require overcoming some significant headwinds, including tackling climate change and rising debt, and through critical global financial reforms.

“As Africa’s economic resilience is bolstered, unlocking its economic prospects requires ensuring structural change of its economies, raising the productivity of agriculture, provision of electricity, accelerating infrastructure investments, supporting faster pace digitalization, unleashing economic and job opportunities for women and youth, and driving industrialization through greater mobilization of the private sector,” he stated.

Addressing infrastructure and agricultural production, Adesina shared successes like the Bank’s flagship Technologies for African Agricultural Transformation (TAAT) program, which has helped 13 million farmers to increase crop productivity. In Ethiopia, the distribution of 65 metric tons of heat-resistant wheat has led to self-sufficiency in wheat production, covering 2.2 million hectares.

The event, attended by over 150 guests in person and hundreds more virtually, included diplomats from more than 18 African countries, the Commonwealth Secretariat, international financial institutions, private and corporate investors, startups, civil society, students and academics from some of the UK’s leading academic institutions and international media houses.

Adesina acknowledged challenges such as youth unemployment, poverty, debt vulnerability, and political instability but dispelled perceptions of Africa as a risky investment destination. He referenced a 14-year Moody’s Analytics study showing Africa’s low infrastructure loan default rate at 1.9 percent, compared to between 4.6 and 12.4 percent in other regions around the world.

He reiterated the Bank’s advocacy for an independent African credit rating agency to counteract misperceptions that lead to underinvestment due to excessive risk premiums. Quoting the United Nations Development Program, Adesina said fairer credit ratings for African countries could save at least $75 billion annually in debt service payments.

“The trajectory for Africa will be much stronger as we tackle these challenges, as well as improve security and expand more concessional financing and private sector financing,” he emphasized.

Repositioning the Bank to do more

As Africa’s economic resilience is bolstered, unlocking its economic prospects requires ensuring structural change of its economies

Adesina recalled the Bank Group shareholders’ recent approval of a $117 billion callable capital increase (https://apo-opa.co/3VqLXFE), raising the Bank’s total authorized capital to $318 billion to preserve its AAA credit rating and enhance its lending capacity. The approval announced during the just concluded 2024 annual meetings of the Bank will align the institution with the changing global financial architecture and enhance its support for the continent.

“We’re going to be bigger, bolder, and better,” he declared, predicting Africa’s rise as a pivotal global region.

Reflecting on the Bank’s achievements, Adesina highlighted the Bank’s successful launch of sustainable hybrid capital (https://apo-opa.co/3Vj4IKT), marking the first such issuance by a multilateral development bank in line with the G20 Capital Adequacy Framework recommendations to boost lending capacity. The transaction won global commendation, including from the G7 finance ministers (https://apo-opa.co/4aUEZOF) and central bank governors.

Adesina also cited the Bank’s Alliance for Green Infrastructure In Africa (AGIA), which the G7 has backed with a $150 million contribution (https://apo-opa.co/3Vgnq5X). AGIA is working to leverage $3 billion in private sector investment for green projects.

He also mentioned the $20 billion Desert-to-Power project in the Sahel to generate 10,000 megawatts of solar power for nearly 250 million people across 11 countries. When completed, it will be the largest solar zone in the world. In addition, Adesina and the President of the World Bank Group Ajay Banga recently announced a joint effort by their two institutions to connect 300 million Africans to electricity by 2030.

The Bank Group president praised the recent International Monetary Fund approval of $20 billion Special Drawing Rights channeling for hybrid capital in line with proposals by the African Development Bank and the Inter-American Development Bank.

“The African Development Bank is mobilizing more private sector investments into Africa. We supported the $24 billion LNG (Liquified Natural Gas) project in Mozambique, which will provide over $66 billion in revenue for Mozambique and make it the third-largest exporter of LNG in the world. We supported the $19.5 billion Dangote Refinery Complex, the largest single-train refinery in the world and the largest ammonia plant globally. We supported the $13 billion OCP phosphate company in Morocco, the largest phosphate fertilizer plant in the world,” he said.

He said these achievements have fuelled the Bank’s ambitions as reflected in its new ten-year strategy (2024-2033), which outlines the vision of an Africa that is prosperous, inclusive, resilient and integrated.

“Africa can no longer be ignored. I fully expect Africa to be the pivotal continent in the world, given its economic prospects,” he said.

He said that the future of energy transition for a world primarily powered by renewable energy will depend on Africa, which accounts for 25 percent of global biodiversity and contributes substantially to providing key minerals. According to African Development Bank estimates, Africa’s natural capital stood at $6.2 trillion in 2018, with mineral and fossil fuel resources alone valued at $290 billion and $1.05 trillion, respectively.

He said Africa must work out how to tap the potential of its youth, turning this asset into an economic dividend.

“We are supporting universities of science and technology, expanding training in science, technology, engineering and mathematics, centers of excellence in biotechnology and material sciences, as well as technical and vocational training. We have committed $700 million to education and skills development, which has supported 4,000 tertiary education and training facilities, and provided 1.7 million African youths with access to science, technology, engineering and mathematics education, providing critical digital skills in computer coding.”

He added that the African Development Bank is also focusing heavily on women. “The African Development Bank’s flagship initiative, Affirmative Finance Action for Women in Africa (AFAWA), is de-risking financial institutions to lend to women. It is working with 169 financial institutions in 43 countries and has so far approved $1.7 billion in financing for 18,300 women-led businesses. Our goal is to mobilize $5 billion for women-led businesses.”

He also mentioned the Africa Investment Forum, founded by the Bank group and seven other partners, saying it continues to provide a transparent platform for investors interested in Africa to meet, assess projects, evaluate risks, seek counter-risk mitigants, as well as address political risks to investors. Since the establishment of the Africa Investment Forum in 2018, it has attracted investor interests in Africa worth over $180 billion.

He expressed optimism that Africa’s prosperity is within reach and it will emerge as a pivotal continent: “Africa is critical to the future of the world. It’s a vision Africa deserves and it’s a vision we’ll achieve.”

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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African Mining Week (AMW) to Unlock Zimbabwe’s $12B Mining Vision Through Direct Investor Partnerships

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A dedicated country spotlight at African Mining Week 2026 will showcase regulatory reforms and project developments across Zimbabwe’s mining value chain

CAPE TOWN, South Africa, June 25, 2026/APO Group/ –African Mining Week 2026 – The Most Influential Mining Conference in Africa – will connect Zimbabwean regulators and mining stakeholders with global investors to advance partnerships, as the country accelerates efforts to build a $12 billion mining industry by 2030.

Taking place from October 14 – 16 in Cape Town, AMW 2026 will feature a dedicated Zimbabwe Country Spotlight, showcasing lucrative opportunities across the country’s mining value chain. The country spotlight will feature high-level panel discussions, exclusive networking sessions and project showcases, connecting global investors and service providers with senior decision-makers from the Ministry of Mines and Mining Development of Zimbabwe, the Chamber of Mines of Zimbabwe and leading mining companies operating across the country.

The spotlight comes at a pivotal moment for Zimbabwe, as the country seeks fresh capital to unlock value from more than 60 known mineral occurrences spanning gold, lithium, platinum group metals, chrome, coal and rare earths.

https://apo-opa.co/43Z71HR

In a major move to improve investment competitiveness, Zimbabwe reduced mining-related license and permit fees in May 2026, lowering operational costs for investors while streamlining market participation. Registration fees for dealing in precious stones have been reduced from $15,000 to $10,000, while export permit fees have been cut from $1,875 to $500. New licensing categories – including permits for gold jewellery manufacturing and lithium processing plants – have also been introduced as part of a broader strategy to promote investments across in-country value addition projects. The reduction in fees for beneficiation projects follows the April 2026 introduction of export quotas for lithium concentrates ahead of a planned 2027 ban on concentrate exports. The shift is already reshaping the country’s lithium industry, with Zhejiang Huayou Cobalt achieving Zimbabwe’s first export shipment of lithium sulphate salts in April 2026.

https://apo-opa.co/4w3X7R3

https://apo-opa.co/4uTlYpG

 

https://apo-opa.co/44ziVZ3

 

Coming into this picture, AMW 2026’s Zimbabwe Country Spotlight will provide investors with direct insights into these evolving regulatory frameworks, highlighting emerging investment and partnership prospects in lithium processing and across the mining value chain.

Zimbabwe’s gold sector is also positioned for renewed growth amid sustained high global gold prices (averaging $5,000 per ounce). In line with this momentum, Zimbabwe’s sovereign wealth fund, Mutapa Investment Fund, is seeking $250 million to expand gold mining operations. Against this backdrop, AMW 2026 offers a timely platform for investors to engage with one of Africa’s most prospective brownfield gold markets and explore opportunities across exploration, mine expansion and processing infrastructure.

https://apo-opa.co/4eCDMiU

 

AMW 2026’s strong emphasis on artisanal and small-scale mining (ASM) formalization also aligns closely with Zimbabwe’s national mining development strategy. In May 2026, Zimbabwe certified 300 small-scale miners following completion of training programs safety, compliance and productivity. Supported by funding from Mutapa Gold Resources – a subsidiary of Mutapa Investment Fund – the initiative aims to train and formalize 1,500 ASM players.

 

https://apo-opa.co/44rhsUH

As the official platform where Africa’s mining opportunities are discussed and maximized, AMW 2026 will provide stakeholders with market intelligence on Zimbabwe’s evolving mining landscape and investment outlook.

Distributed by APO Group on behalf of Energy Capital & Power.

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Afreximbank Africa Trade Report shows Africa can turn geopolitical disruptions into long-term growth opportunity

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The report highlights Africa’s continued growth resilience despite significant headwinds occasioned by escalating geopolitical tensions and ensuing economic shifts

CAIRO, Egypt, June 24, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has launched the 2026 edition of its flagship African Trade Report themed “Leveraging Geopolitics for Trade and Industrialisation in Global Africa.” The report presents a comprehensive review of trade and economic developments across Africa and globally in the context of the 2025 operating environment, while outlining available strategic options for Africa to transform ongoing geopolitical tensions and associated supply chain disruptions into long-term resilience for growth and shared prosperity across the continent.

 

The report highlights Africa’s continued growth resilience despite significant headwinds occasioned by escalating geopolitical tensions and ensuing economic shifts. Reflecting the continent’s growth resilience, the report shows that while global economic growth slowed to 3.4 percent in 2025 and is projected to further ease to 3.1 percent in 2026, Africa’s real GDP growth strengthened from 3.4 percent in 2024 to 4.5 percent in 2025. This performance not only surpasses the global average but also highlights the continent’s improving economic fundamentals in a fractured world economic order.

Africa’s merchandise trade also delivered strong performance, expanding by 6.1 percent to reach approximately US$1.5 trillion, while aggregate inflation declined sharply from 21.6 percent in 2024 to 13.1 percent 2025. These outcomes reflect the stabilising effects of prudent macroeconomic management, ongoing policy and institutional reforms, and the countercyclical interventions of development finance institutions across the continent.

Commenting on the Africa Trade Report’s findings, Dr Yemi Kale, Group Chief Economist and Managing Director of Research and Trade Intelligence at Afreximbank, said:

By strategically leveraging these shifts, Africa can build a more resilient, competitive and inclusive economic future

Africa stands at a critical juncture. Geopolitical tensions and economic fragmentation are reshaping global trade patterns, but they also present a historic opportunity for the continent. By strategically leveraging these shifts, Africa can build a more resilient, competitive and inclusive economic future.

“It is imperative for the continent to act decisively to strengthen regional value chains, deepen industrial capacity, expand access to trade finance, and accelerate continental integration. Through coordinated policy action, strategic infrastructure investment, and stronger development finance institutions, Africa can build a more resilient, inclusive, and value-added trade ecosystem. Africa cannot afford to delay.”

The report further highlights that Africa’s export performance remains constrained by a persistent trade finance gap, estimated at approximately US$74 billion in 2025. The challenge is exacerbated by limited foreign exchange liquidity and the continued decline in correspondent banking relationships, factors that restrict the continent’s capacity to fully realise its trade and industrial potential.

At the same time, evolving shipping routes and prolonged disruptions to global logistics networks continue to extend delivery timelines and increase freight and trading costs. These pressures are particularly acute for African economies that remain heavily reliant on imported inputs and external markets, even as global supply chains increasingly reconfigure toward resilience, diversification, and emergence of alternative production hubs.

The report also outlines several strategic priorities, including the accelerated implementation of the African Continental Free Trade Area (AfCFTA), the expansion of digital payments infrastructure through the Pan-African Payment and Settlement System (PAPSS), and coordinated reforms to the global financial architecture. It further underscores the growing role of African financial institutions in strengthening economic resilience. Afreximbank, a founding member of the Alliance of African Multilateral Financial Institutions (AAMFI), disbursed US$17.5 billion in 2024 and is working to double intra-African trade finance by 2026. Meanwhile, Pan African Payment and Settlement System (PAPSS) is already helping to reduce transaction costs and lessen reliance on foreign currencies across the continent.

As geopolitical tensions continue to reshape global supply chains and trade patterns, the continent’s ability to leverage these shifts will depend on strengthening industrial ecosystems, expanding intra-African trade, and sustaining coordinated financial support. Ultimately, a combination of adaptive policy frameworks, strategic trade positioning, and robust direct foreign investment interventions will be central to driving a resilient, inclusive, and sustainable industrialisation pathway for Global Africa. The imperative now is to act with ambition and urgency. This would require accelerating the implementation of the African Continental Free Trade Area (AfCFTA), expanding intra-African trade finance, strengthening transport and logistics infrastructure, and deepening digital payment systems through the Pan-African Payment and Settlement System (PAPSS).

The full report can be downloaded here:  https://apo-opa.co/4xNkbFx

Distributed by APO Group on behalf of Afreximbank.

 

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Islamic Development Bank (IsDB) Institute Strengthens Global Partnerships through Strategic Bilateral Engagements at 2026 Group Annual Meetings

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The meetings reaffirmed IsDBI’s commitment to advancing Islamic economics and finance as a catalyst for sustainable development, innovation, financial inclusion, and economic transformation across Member Countries and beyond

BAKU, Azerbaijan, June 24, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) successfully conducted a series of bilateral meetings with government institutions, multilateral organizations, financial regulators, academic institutions, development agencies, and industry leaders on the sidelines of the 2026 IsDB Group Annual Meetings in Baku, Azerbaijan.

 

The meetings reaffirmed IsDBI’s commitment to advancing Islamic economics and finance as a catalyst for sustainable development, innovation, financial inclusion, and economic transformation across Member Countries and beyond.

The engagements covered a wide spectrum of strategic themes, including Islamic finance ecosystem development, regulatory and legislative reform, capacity building, sukuk market development, Islamic social finance, digital transformation, fintech, sustainable finance, waqf innovation, and knowledge partnerships.

Among the key engagements were discussions with representatives from the Governments of Tajikistan, Libya, Maldives, Türkiye, Ethiopia, and Sierra Leone on strengthening Islamic finance ecosystems through technical assistance, regulatory enhancement, and institutional capacity development.

The Institute also met with leading international organizations and standard-setting bodies, including the Islamic Financial Services Board (IFSB), AAOIFI, the Eurasian Development Bank, and the Islamic Microfinance Development Fund (FDMI). The meetings explored avenues for collaboration in research, standards development, capacity building, and strategic initiatives aimed at broadening the global reach and impact of Islamic finance.

Several meetings focused on innovation and emerging opportunities, including discussions with Rosatom State Corporation on sustainable financing solutions and sukuk structures, Islamic Money Australia on digital Islamic banking models, and INCEIF University on Islamic social finance data, waqf tokenization, and applied research collaboration.

The Institute also explored partnerships with organizations from Brazil, Palestine, Somalia, Senegal, Djibouti, and the private sector to advance knowledge dissemination, capacity-building programs, blended Islamic finance solutions, cash waqf digitalization initiatives, and investment-related research.

Commenting on the outcomes of the engagements, the Institute’s team, led by Acting Director General, Dr. Sami Al-Suwailem, noted that the meetings reflected the growing global interest in leveraging Islamic economics and finance to address contemporary development challenges and unlock new opportunities for inclusive and sustainable growth.

The discussions generated a pipeline of follow-up initiatives, including technical assistance programs, joint research projects, capacity-building activities, policy advisory support, and collaborative knowledge-sharing platforms.

The 2026 IsDB Group Annual Meetings provided a valuable platform for strengthening existing partnerships, establishing new strategic relationships, and advancing the Institute’s mission of promoting innovative, impactful, and development-oriented Islamic economics and finance solutions worldwide.

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

 

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