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African Development Bank Group President, Akinwumi Adesina, calls on Oxford MBA graduating class to be change-makers

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Adesina called on the graduates to use the skills and knowledge they had acquired to address some of today’s most pressing global challenges

OXFORD, United Kingdom, September 12, 2023/APO Group/ — 

Graduating executive MBA students of Oxford University’s Saïd Business School received wise counsel from African Development Bank (www.AfDB.org) President Dr Akinwumi Adesina on Friday.

Delivering the business school’s 2023 commencement address, Adesina called on the graduates to use the skills and knowledge they had acquired to address some of today’s most pressing global challenges, including climate change and the quest for a hunger-free world. “It is unacceptable for more than 2.3 billion people in the world to go hungry each day,” he said.

The bank president said: “Class of 2023, I see in you, builders, and shapers of hope. You have been well prepared to go into this world to be change-makers. You have received a world-class education. You are ready, and the world awaits you.”

Adesina urged to draw lessons from the Covid-19 pandemic to ensure future global pandemic preparedness and that no one is left behind in terms of access to affordable healthcare.

Commending the graduates to use innovative ideas and solutions, he highlighted the need to help meet the needs of the 940 million people worldwide living without electricity, three billion people without clean cooking energy, two billion living without access to clean water, and 4.5 billion without sanitation.

He also emphasised the 1.7 billion people that lacked access to basic finance, credit, savings, payments, or insurance, while also stressing the need to build a better world for the 244 million children who are out of school, including 129 million girls.

“Their dream,” the African Development Bank president said, “is to be like all of you today as you graduate with a world class education. But they cannot achieve their dreams, and neither can our world achieve our collective dream of a more just and equitable world unless we prioritise financing for developing countries to accelerate development.”

We want you to become great leaders who will shape tomorrow and have a positive impact on our world

Soumitra Dutta, Peter Moores Dean and Professor of Management at Saïd Business School, encouraged the Class of 2023 to dream big and assume the mantles of leadership waiting for them. He said: “We want you to become great leaders who will shape tomorrow and have a positive impact on our world. To become a great leader, it is very important that you are inspired and that you dream big. With your dreams, you will raise the aspiration levels of others around you.”

Professor Alex Connock, specialist in Media Business and Artificial Intelligence (AI), called on the Class of 2023 to set the terms and conditions of what they do in life, and devise the strategy. He said: “You must be confident about making choices that work to your vision of your own future.” He added: “So please—throw your own javelin confidently into the infinite space of the future, starting from today. Go out there, make a difference. Bring this splintering world back together. Don’t settle for a new Cold War. Don’t settle for global warming. Make good things happen.”

Adesina told the new MBA graduates to be selfless and dedicated to justice, equity, and fairness. While encouraging them to promote transparency, inclusion, honesty, and integrity, he emphasised the determination they would need not to be sucked into what he called the “slimy allure of insatiable corporate greed that has wreaked havoc on the lives of millions through creative accounting, misrepresentation of the valuation of companies,” and other unethical behaviour.

“As you go out into the business world, stay within the rules and regulations,” Adesina said. “You all look great in your suits today. Keep it that way. Do not trade your striped business suits for orange jump suits. Do honest business. Stay out of trouble. Set your goals and stick to them.”

The African Development Bank president encouraged the graduates to build alliances and collective partnerships rather than individual success. He evoked the image of the African Baobab tree with its massive girth. He said the only way individuals could encircle it was by linking arms together around its enormous circumference. He encouraged them to employ the Baobab approach and work together.

“Nothing works better than collective success,” Adesina said. “Never work alone… Ahead of you is a stretch of life. Live it fully. Live it supporting others. Live it doing the best you can to improve the lives and livelihoods of people around the world. Use the Baobab approach.”

Amy Major, Associate Director of the Saïd Businees School’s MBA programme, told the new MBA holders: “Display kindness to yourself and others. You all hold yourselves to high standards, but as you move out into the real world, whether you are now gainfully employed or searching, facing financial pressure or not, moving back to your family or away, you will all experience a different set of challenges and opportunities. No matter where life takes you, you possess something that can never be taken away: your Oxford MBA and your rightful place as Oxonians.”

Adesina spoke about the need for a reformed global financial architecture. “The global financial architecture is failing development in the world as it faces multiple global challenges,” he explained, adding: “The global financial architecture must be modified to tackle global challenges more effectively and to accelerate the achievement of the UN Sustainable Development Goals.” He told the graduates: “The global pension funds and institutional investors, which many of you will go on to work for, have over $145 trillion of assets under management. As you do, take leadership in ensuing that these vast resources are directed towards the collective good. Use the skills and tools you have acquired at Oxford, to help make our world a better place for all.”

The African Development Bank president concluded his visit with a group and one-on-one chat with some of the new graduates from Africa to talk about leadership, and Africa’s future and development, and the role of the youth.

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

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Hainan FTP marks 6-month milestone of special customs operations, signs deals during Hong Kong visit

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HONG KONG SAR – Media OutReach Newswire – 29 June 2026 – As the Hainan Free Trade Port (FTP) marked the six-month milestone since the launch of its full special customs operations, a Hainan provincial delegation wrapped up a three-day visit to Hong Kong. During the visit, the delegation signed deepened cooperation agreements with several major local chambers of commerce and promoted the latest policies introduced since the island-wide special customs operations took effect.

According to data released by Hainan Province during the visit, Hainan’s foreign trade has surged since the launch of special customs operations. As of June 17, the province’s total goods imports and exports reached RMB 173.98 billion (approximately US$24 billion), up 54.6% year on year. Imports of zero-tariff goods hit RMB 2.645 billion, a 120% jump that generated tariff savings of RMB 440 million. A total of 172,100 new market entities were registered—a 61% increase—including 1,240 foreign-invested enterprises. Zero-tariff items now account for 74% of all tariff lines, benefiting more than 12,000 market entities.

During the Hong Kong visit, China Council for the Promotion of International Trade Hainan Provincial Committee (CCPIT Hainan) signed separate deepened cooperation MOUs with the Chinese General Chamber of Commerce, Hong Kong and the Hong Kong General Chamber of Commerce. Under the MOUs, the parties will establish a regular liaison mechanism for the periodic exchange of economic and trade information, and will promote collaboration in areas including professional services, green finance, the digital economy, supply chain management, and cultural tourism. Mutual enterprise service desks will be set up to provide consulting services regarding policies and projects. The parties will leverage their complementary strengths to help Chinese mainland enterprises access overseas markets via Hong Kong, while facilitating Hong Kong companies’ entry into the Chinese mainland through Hainan.

The delegation also held talks with the British Chamber of Commerce in Hong Kong and the American Chamber of Commerce in Hong Kong, exploring ways for British and American businesses to leverage Hainan’s value-added processing tariff exemptions and multifunctional free trade accounts to position themselves in regional supply chains and cross-border investment and financing. HSBC, De Beers, and other British firms are already active in Hainan, and the UK served as the Guest of Honor country at the 2025 China International Consumer Products Expo.

According to industry analysts, amid the shifting international trade landscape, Hainan is leveraging Hong Kong’s “super-connector” role to accelerate its integration with global capital and business networks, while simultaneously offering the Hong Kong business community a policy testing ground for entering the Chinese mainland market.

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Africa’s Grid Constraints Come into Focus as Regional Markets Push Toward Integration

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Regional power pools are advancing and renewable pipelines are growing, but the regulatory and financial architecture needed to connect them remains the continent’s most critical infrastructure gap – an issue central to the Power Africa Today conference at AEW 2026

CAPE TOWN, South Africa, June 25, 2026/APO Group/ –Africa’s electricity demand is projected to nearly double to 2,291 TWh by 2050, requiring an estimated $30 billion in transmission and grid infrastructure investment to unlock and integrate new generation capacity. Yet across the continent, grid systems are struggling to keep pace with rapidly expanding supply pipelines and rising demand.

In Nigeria, repeated nationwide grid collapses as recently as February 2026 underscore the fragility of aging transmission infrastructure. In East Africa, tower failures along the 428 km Loiyangalani-Suswa line temporarily stranded output from Lake Turkana Wind Power – Africa’s largest wind installation. Meanwhile, demand growth pressures are accelerating across North Africa, where electricity consumption is expected to rise by around 50% by 2035, driven by urbanization, desalination projects, and climate-related temperature increases.

Despite these constraints, generation investment continues to accelerate across Africa, particularly in renewables, gas-to-power and hybrid systems. However, without equivalent investment in transmission and interconnection, much of this new capacity risks being underutilized or stranded. This growing imbalance between generation and grid capacity is driving a sharper focus on system-wide planning and regional market design – issues that will be central to the newly launched Power Africa Today conference at African Energy Week 2026. The platform will bring together policymakers, utilities, investors and developers to explore how regional interconnection, cross-border trading frameworks and financing structures can better align generation growth with grid expansion.

Power Markets Experiment with Reform

Alongside infrastructure challenges, Africa’s electricity sector is undergoing gradual – but uneven – market reform. Most countries still operate vertically integrated systems dominated by state utilities, but a growing number are introducing competitive frameworks to attract private capital and improve efficiency.

Zimbabwe opened its electricity market to full private participation across generation, transmission and distribution in 2025, targeting $9 billion in new investment. South Africa is advancing one of the continent’s most ambitious grid expansion programs, with plans for 14,500 km of new transmission lines and 133,000 MVA of transformer capacity by 2034, alongside mechanisms designed to crowd in private financing. Kenya, meanwhile, has introduced open access regulations enabling independent power producers to wheel electricity directly to multiple off-takers, reshaping how generation assets interface with the grid.

Interconnected electricity markets are the foundation of Africa’s industrial future

Regional Integration Remains Fragmented

Efforts to connect Africa’s fragmented power systems are progressing, though at different speeds across regions. In Southern Africa, the World Bank’s RETRADE SAPP program, approved in 2025, is deploying $12 million to strengthen renewable integration and transmission capacity across 12 member states. In East Africa, the Ethiopia–Kenya–Tanzania Electricity Highway is now in trial operations at up to 2,000 MW, marking a significant step toward a more interconnected regional grid.

West Africa is also moving toward deeper integration, with permanent synchronization of the West Africa Power Pool expected in 2026. Analysts, including the African Finance Corporation, argue that such synchronization is critical to unlocking large-scale hydropower potential and industrial demand across the region. Longer term, full synchronization between the Eastern and Southern African power pools – targeted for the end of 2026 – could create one of the world’s largest cross-border electricity trading corridors.

Building Bankable Financial Architectures

While interconnection is advancing, infrastructure alone is not enough to create investable electricity markets. Investors consistently cite the lack of standardized offtake structures, creditworthy counterparties, and cross-border payment guarantees as key barriers to scaling capital deployment.

New models are emerging to address these constraints. Africa GreenCo, operating across Zambia, Namibia and South Africa, is helping to aggregate independent power producers under a single creditworthy intermediary, standardizing power purchase agreements and reducing counterparty risk. At a broader level, AUDA-NEPAD estimates that Africa requires around $30 billion in additional investment to complete priority transmission corridors and establish three fully interconnected regional trading blocs by 2030.

“Interconnected electricity markets are the foundation of Africa’s industrial future,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “The question at Africa Energy Week is not whether integration is possible – the evidence is already there. The question is which regulatory frameworks and financial structures will get projects to financial close, and which markets will be ready when capital is looking to move.”

The Power Africa Today conference will run alongside AEW 2026, taking place October 12–16 in Cape Town, and will focus on the regulatory, financial and infrastructural architecture needed to build interconnected electricity markets capable of attracting institutional capital and delivering reliable, cross-border power at scale.

Distributed by APO Group on behalf of African Energy Chamber.

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African Development Bank Group and La Francophonie Sign Partnership Agreement to Promote Youth Employment in Francophone Africa

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The agreement was signed during a meeting between the Secretary General of La Francophonie, Louise Mushikiwabo, and African Development Bank Group President, Dr Sidi Ould Tah in Paris, France

PARIS, France, June 25, 2026/APO Group/ –The African Development Bank Group (www.AfDB.org) and The International Organization of La Francophonie (OIF) on Wednesday entered a strategic partnership to strengthen digital skills, employability, and entrepreneurship of young people and women in five African countries: Benin, Cameroon, Guinea, the Democratic Republic of the Congo and Madagascar.

 

The agreement was signed during a meeting between the Secretary General of La Francophonie, Louise Mushikiwabo, and African Development Bank Group President, Dr Sidi Ould Tah in Paris, France. The agreement will address a major challenge faced by countries in the Francophone world and across Africa: providing young people with access to opportunities offered by the digital economy and fostering the emergence of a new generation of entrepreneurs.

The partnership calls for the implementation of training programs in digital professions and entrepreneurship, in fields such as web and mobile development, cybersecurity, artificial intelligence, and data analysis. Participants will also receive guidance toward employment and self-employment, as well as support for innovation and business creation, notably through training camps, prototyping activities, and partnerships with incubators and accelerators.

The African Development Bank Group and OIF will also work with national authorities in these five countries and training institutions to sustainably strengthen local capacities and promote ownership of the programs by national stakeholders. An initial pilot phase, lasting 12 to 24 months, will be rolled out in the five partner countries, followed by a gradual expansion to other member states depending on the results achieved.

The African Development Bank Group is pursuing a bold agenda based on “Four Cardinal Points” developed by Dr Ould Tah, the third of which is ‘Turning Demographics into a Dividend.’ This is about strategically converting Africa’s rapidly growing and youthful population into a decisive engine of inclusive growth, productivity, and innovation through large-scale investment in human capital—particularly youth and women.

 

It sees Africa’s growing young population not as a risk, but as a major asset. With the right policies and investments, this potential can create jobs, help small businesses grow, bring more informal businesses into the formal economy, and equip young people with the skills needed for the future. By investing more in education, science and technology, vocational training, entrepreneurship, finance, and digital tools, Africa can help its people drive economic transformation, stay competitive, and build lasting, resilient growth.

The OIF said the agreement marked the first concrete step in its initiative to mobilize innovative and additional funding for its most impactful projects.

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

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