• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Companies

      Total Nigeria, Mixta, Valency, list new CPs on FMDQ platform to enhance financial markets development

      18 hrs

      Finance

      Amidst N32.22trn public debt, analysts say Nigeria’s external debt service manageable

      22 hrs

      Finance

      Stringent regulations, business environment forced Stanbic IBTC out of BDC business

      January 15, 2021

      Finance

      Cautious equities trading see gains in Flour Mills, Mobil, Wapco push market cap to ₦21.09trn

      January 15, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Commodities

      LME contemplates permanent shutdown of historic trading ring

      5 hrs

      WORLD BUSINESS & ECONOMY

      China’s economy grows 2.3%, with potentials to overtake U.S. beyond expectations

      18 hrs

      WORLD BUSINESS & ECONOMY

      Uber leads with 30% as 10 biggest startup layoffs in 2020 reach 25,000

      19 hrs

      Companies

      TIPP Oil, German lubricant maker, targets 2021 Nigeria launch with eco-friendly scheme  

      19 hrs

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Companies

      TIPP Oil, German lubricant maker, targets 2021 Nigeria launch with eco-friendly scheme  

      19 hrs

      Frontpage

      Nigeria aims for cost efficiency, safety, value in oil sector with centre of excellence

      20 hrs

      Frontpage

      Sustainable energy: Minister estimates solution to cost Nigeria $4bn in annual spend

      22 hrs

      Frontpage

      NNPC receives $120.49m crude oil receipt in September  

      January 18, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      CBN meeting and NSE in focus

      January 18, 2021

      Analyst Insight

      Once again, fiscal stimulus takes centre stage

      January 18, 2021

      Analyst Insight

      Organisations must learn from the WhatsApp story  

      January 18, 2021

      Analyst Insight

      Data privacy maturity model in organisations

      January 11, 2021

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Adesola Afolabi

Adesola Afolabi is  Businessamlive Reporter.
You can contact her on adesola.afolabi@businessamlive.com with stories and commentary.

May 24, 201810.3K views0 comments

The Bank and the Republic of Korea also signed an agreement with the intent to provide up to $600 million towards the energy sector

The African Development Bank (AfDB) said it has scaled up industrialization pace on the continent as it has delivered improved business access to transport, energy and skills in the past year.

The development bank made the disclosure Thursday in its Annual Development Effectiveness Review (ADER) released at the Bank’s annual meetings in Busan, South Korea.

“In 2017, companies had improved access to transport, energy, and skills, which expanded their ability to do business across the continent,” the AfDB noted, adding that it contributed to these improvements by providing 14 million people with access to transport – well above its target, building or rehabilitating 2,500 km of roads in 2017 and also helped 210,000 small and micro businesses access finance, which benefitted 2.6 million people.

It said its efforts to accelerate the pace of industrialization were equally supported by its presence in 38 countries as well as timely and quality operations.

Read Also:

  • Stringent regulations, business environment forced Stanbic IBTC out of…
  • Selloffs in BuaCem, Access, UBA push Nigeria bourse under waters
  • Access Bank unfolds ambitious expansion into Africa, global markets…
  • Fallacy, ambiguity in Finance Act (2020) with respect to FIRS, financial…
  • Sustainable energy: Minister estimates solution to cost Nigeria $4bn in…

Every year, ADER scrutinizes the Bank’s operational effectiveness and its organizational efficiency, using the Bank’s results measurement framework for 2016-2025. It brings together evidence of strengths and weaknesses to provide management with a clear understanding of what has worked well and what the Bank must do better to achieve its High 5 development goals.

“The report shows that the African Development Bank is delivering on its commitment to help Africa achieve the Bank’s High 5 priorities,” said Charles Boamah, Senior Vice-President, adding: “The Bank continues to strengthen its effectiveness as an organization, while scaling up its operations.”

This year’s ADER has a special focus on industrializing Africa.

“There are good reasons to be optimistic that industrialization is achievable in the coming years. Africa is open for business, with stable economies and supportive business environments,” said Akinwumi Adesina, AfDB president.

“It has a young and growing workforce that is increasingly global in outlook. Urbanization and the rise of the African middle class are opening up new consumer markets, which act as a magnet for investors.”

“This level of performance is promising, but we must continue driving operational delivery and impact,” said Simon Mizrahi, Bank Director for Delivery, Performance Management, and Results.

Share on Facebook Tweet Email
TagsAfDB African Development Bank
PreviousFacebook rolls out GDPR privacy checkups worldwide
NextNigerian stocks index crashes below 40,000bps on sustained sell-offs

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Access Bank unfolds ambitious expansion into Africa, global markets leveraging HoldCo structure
  • Nigeria bourse chief pleads caution on 2021 growth expectations
  • Selloffs in BuaCem, Access, UBA push Nigeria bourse under waters
  • Shippers Association predicts shortfall in cargo imports as covid-19 bites harder
  • LME contemplates permanent shutdown of historic trading ring

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

After 8-year lull, Nigeria municipal debt capital raising off to flying start

Frontpage February 3, 2020

1
2

3,891 debtors owe banks above N1bn each

Frontpage August 23, 2019

3

Where is N2.9bn wheat fund for 2016/18 seasons?

Frontpage July 23, 2018

4

Covid-19 shrinks mobile phone sales by 70% in West Africa’s biggest computer and phone market

Frontpage October 13, 2020

5

Nigeria’s debt rose steeply by 48% in 15 months on expansionary budget, deficit

Frontpage July 4, 2017

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.