Dinesh Pandey builds indestructible empires by supporting the right people
He puts a premium on resilience as his evaluations begin with one's ability to withstand market pressures and adapt to challenges. Though basic, this is oftentimes taken for granted or overlooked as unfortunately the global workforce has become a little bit complacent or fickle when dealing with workplace issues. By being upfront with his standards, it has enabled him to identify the crème de la crème, to which he fully commits himself to hone to be the best that they can ever be.
His support model is intentionally hands-on yet non-intrusive. In some cases, Dinesh provides capital to initiate or expand a venture. In others, he offers operational strategy to strengthen execution or delivers a timely prompt to keep things going. At the end of the day, the focus is on enabling the new founder to build independently while having peace of mind that Dinesh's reliable guidance is available when required.
In volatile markets, Dinesh regards character as the ultimate decisive advantage. He points to multiple ventures where the differentiator was one's capacity to endure rejection and still opt to continue advancing. His portfolio includes entrepreneurs who have weathered the most severe of storms and are now heralded as the finest and supreme in their respective fields. For Dinesh Pandey, the measure of a worthwhile partnership is commitment. He staunchly believes that the committed ones are those capable of building indestructible empires with enduring value.
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Zawya
8 minutes ago
- Zawya
Opening Speech Dr. Akinwumi A. Adesina President and Chairman, Boards of Directors African Development Bank Group and Chairman, Africa50 2025 General Shareholders Meeting
Your Excellency, Daniel Chapo, President of the Federal Republic of Mozambique. Honorable Carla Louveira, Minister of Economy and Finance of Mozambique. Honorable Ministers and senior government officials. The Secretary General of the African Continental Free Trade Area Secretariat, Wamkele Mene. Excellencies, Ambassadors and heads of diplomatic missions. Heads of international organizations. Alain Ebobise, Chief Executive Officer, Africa50. Esteemed shareholders of Africa50. Esteemed members of the Board of Directors of Africa50. Senior management and staff of Africa50. Ladies and gentlemen. Your Excellency, Mr. President, I am delighted that you have honored us today with your presence for the General Shareholder Meeting of Africa50. I am grateful that you accepted to host this General Shareholders Meeting. We are grateful for the generous hospitality and all the graciousness we have all received since we arrived in the beautiful city of Maputo. I wear two hats as I address you today: first, as President of the African Development Bank Group, your bank; and second, as Chairman of Africa50, which was established by the African Development Bank Group. Mozambique is a strong shareholder of the African Development Bank Group, which started operations in the country in 1977. Mozambique also joined Africa50 in 2024. Your Excellency, President Chapo, I wish to start by formally congratulating you on your election as President of the Republic of Mozambique. I commend you for the remarkable leadership that you have shown in stabilizing the country. Peace and stability are fundamental to spurring economic growth and development. I wish to commend you and your government on the macroeconomic and fiscal stability of the country under your leadership. The green shoots of your macroeconomic and fiscal policies are coming out. Real GDP of Mozambique is estimated to increase to 2.5% in 2025 and 3.6% in 2026, due to the rebound in the extractive sector activities. Congratulations, Mr. President! Let me speak first with my hat on as President of the African Development Bank Group. The African Development Bank has been a strong supporter of Mozambique. In the past ten years under my Presidency (2015-2025), we provided $1.6 billion to Mozambique. To put this in perspective, this represents 41% of the total financing of the African Development Bank to Mozambique over the past 48 years. The African Development Bank was a lead financier of Mozambique's $20 billion Liquified Natural Gas (LNG) plant project, for which the Bank provided $400 million in senior debt financing. I wish to thank you, Mr. President, for your visiting the LNG project site in Cabo Delgado in February. Your leadership and visit reassured investors. I am proud of what has been achieved, especially in the power sector, where our support for energy projects contributed significantly to the national energy access increasing from 30% in 2018 to 60% in 2024. Our $34 million support for the Mozambique Energy for All Project provided access to electricity to over 45,500 households in under-electrified provinces such as Zambezia and Nampula, including about 14,000 female-headed households. The African Development Bank also strongly supported the agriculture sector, with the development of special agro-industrial processing zones, for example in Pemba-Lichinga, one of the six such zones the Bank is supporting. The Bank supported the development of the Nacala and Beira corridors, which are transforming trade and transport logistics, and improving regional trade for the African Continental Free Trade Area. Let me shift to my second hat as Chairman of Africa50. When the African Development Bank created Africa50, the vision was clear: develop a platform for mobilizing financing for infrastructure, with market rate of returns. I am proud of what Africa50 has become today. Within 8 years Africa50 has become a leader on infrastructure financing in Africa, thanks to the visionary leadership of our CEO, Alain Ebobise; its incredibly capable and talented staff; and support of the board of directors and our shareholders. Today, Africa50's shareholders have risen to 37, with 33 countries and 4 institutions. From just one staff (Alain!) when we started 8 years ago, Africa50 now has 100 exceptional staff. It is managing assets of over $1.4 billion. The total value of its portfolio companies is over $ 8 billion. Africa50 is showing creativity and innovation on infrastructure financing. It's Africa Infrastructure Acceleration Fund raised $275 million from over 20 African institutional investors. This is a mark of strong confidence by institutional investors. Africa50 is delighted to be working closely in partnership with Mozambique in areas that complement the work of the African Development Bank, especially in infrastructure, energy and transport. Africa50 is an equity investor in the 175 MW gas-fired power plant, Central Termica de Ressano Garcia (CTRG). Africa50 is finalizing the project development agreement for three transformation lines under an independent power transmission framework. This will be in partnership with Power Grid and Electricidade de Mozambique (EDM). Africa50 is expected to develop a Data Center Facility in Maputo City. I am delighted that our shareholders are here in Maputo to witness the fruits of collaboration and partnerships. Partnerships between the African Development Bank and Mozambique. Partnerships between the African Development Bank and Africa50. And partnerships between Africa50 and Mozambique. Partnerships between the African Development Bank, Africa50 and Africa countries. To close Africa's $170 billion annual infrastructure financing gap, requires that we all continue to build and scale up partnerships. Partnerships with multilateral and bilateral financial institutions. Partnerships with investment banks and private equity funds. Partnerships with institutional investors, from sovereign wealth funds to pension funds and insurance pool of funds. Partnerships between countries to finance cross-national infrastructure, to spur regional integration and advance the African Continental Free Trade Area. Together we are stronger. Together, let us join our hands around the Baobab tree of infrastructure opportunities in Africa. Your Excellency, President Chapo, thank you for stretching out to us your hands of partnership. You can count on the Africa50 and the African Development Bank Group to continue to support your visionary efforts to transform Mozambique. Your Excellencies, ladies and gentlemen. My tenure as President of the African Development Bank Group, and as Chairman of the Board of Directors of Africa50, will end on September 1, 2025. I am proud of all we have achieved together. The High 5s work of the African Development Bank impacted on the lives of 565 million people. The capital of the African Development Bank increased from $93 billion in 2015 to $318 billion today – the highest in the history of the African Development Bank since its establishment in 1964. The African Development Bank was ranked as the Best Multilateral Financing Institution in the World. The African Development Fund, our concessional financing institution, was ranked as the second-best concessional financing institution in the world, above all 55 concessional financing institutions in the OECD countries. The African Development Bank maintained its AAA global credit ratings for ten years, even in the most difficult economic times of Covid19 pandemic. The African Development Bank was ranked, for the past two consecutive years, as the Most Transparent Financial Institution in the World. The Africa Investment Forum (which we developed together with our partners, Development Bank of Southern Africa, Africa50, Africa Export-Import Bank, Trade and Development Bank, Africa Finance Corporation, European Investment Bank, Islamic Development Bank and Arab Bank for Economic Development) mobilized over $225 billion in investment interest to Africa. Africa50 has become a globally respected infrastructure platform. As Chairman of Africa50, I am confident that Africa50 will continue to grow in the years ahead, because its value proposition is strong. Africa50 will be signing today Memorandums of Understanding with the Government of Mozambique; and also, with the Alliance for Green Infrastructure in Africa (AGIA). These further reinforce the strong value proposition of Africa50. As Chairman of Africa50, let me assure all our partners. Africa50 is a good investment. Africa50 delivers impactful results. Africa50 delivers value for money. You can never go wrong with investing in Africa50. Thank you all very much for your support and partnership. As I move into a new future, Africa will always be on my mind. Let me assure you, I will not be stepping back. I will be stepping forward in our collective drive to unlock global capital for Africa. And Mozambique will remain dear to my heart. Muito obrigado a todos. Thank you very much. Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Zawya
22 minutes ago
- Zawya
Africa50 Sets New Benchmark in Infrastructure Financing, Surpasses $1.4B in Managed Assets
Eight-Year Journey from Single Employee to 100-Strong Team Managing $8 Billion Portfolio Value Demonstrates Africa's Infrastructure Investment Potential. Africa50 symbolises the new Africa; an Africa that depends on itself, promotes cooperation between Africans, and builds shared prosperity, says President of Mozambique Africa50 ( the investment platform established by African governments and the African Development Bank ( said on Wednesday it has surpassed $1.4 billion in managed assets, marking an extraordinary transformation from one staff member to a continental powerhouse driving Africa's infrastructure revolution. The disclosure was made at the General Shareholders Meeting of the platform in Maputo, the capital of Mozambique, attended by the country's President, Daniel Chapo, President of the African Development Bank Group, Dr Akinwumi Adesina, and numerous dignitaries and representatives of development partners. President Chapo highlighted the shared vision that led the country to join Africa50 in 2024. 'Africa50 is a key partner to help us implement this vision [to become a reference country in logistics and power,' he said. 'We are transforming ideas into projects to provide employment for the youth and more revenues for the government to invest in economic, social, and sustainable development.' He commended the leadership of Dr Adesina, who is also Chairman of the Board of Africa50, and said: 'Africa50 symbolises the new Africa; an Africa that depends on itself, promotes cooperation between Africans and builds shared prosperity.' From humble beginnings to continental clout Dr Adesina told the gathering that the total value of Africa50's portfolio companies now exceeds $8 billion, underscoring the platform's pivotal role in addressing Africa's $170 billion annual infrastructure financing gap. "Within eight years, Africa50 has become a leader on infrastructure financing in Africa, demonstrating creativity and innovation that transforms how we approach continental development," the Bank President said. "From just one staff member when we started, Africa50 now employs 100 exceptional professionals and serves 37 shareholders across 33 countries and four institutions." The platform's remarkable growth is reflected in its Africa Infrastructure Acceleration Fund, which successfully mobilized $275 million from over 20 African institutional investors, including sovereign wealth funds, pension funds, and insurance companies. This, the Africa50 Chairman said, represents the most substantial institutional investor confidence ever in Africa's infrastructure opportunities. Alain Ebobissé, CEO of Africa50, said, 'The truth is this: the solutions to Africa's infrastructure gap are already before us. Africa can and must lead the efforts to close the infrastructure gap in our continent, working with our non-African partners. Africa50 was built for moments like these: We are agile. We are responsive. We are focused on achieving results with speed and at scale.' The 2025 General Shareholders Meeting also provided Africa50 an opportunity to formalize its growing influence through two strategic Memorandums of Understanding: MOU with Electricidade de Mozambique for the development of three transmission lines under an Independent Power Transmission (IPT) framework. This will help support the government's ambition to achieve universal electricity access by 2030 and become a significant exporter of power across the Southern African Development Community. MOU with the Ministry of Communications and Digital Transformation, to build a new data centre facility in Maputo and modernize the existing one. Africa50 also sealed two significant pan-African deals, including the first close of the Alliance for Green Infrastructure in Africa (AGIA), an initiative envisioned by Dr. Akinwumi Adesina. The AGIA deal anchors the first close of $115 million for Africa's leading green infrastructure initiative. In addition, it signed a framework agreement with the African Continental Free Trade Agreement (AfCFTA) Secretariat for the development and financing of trade-enabling infrastructure to boost intra-African trade. African Development Bank and Africa50 footprints in Mozambique Adesina said the investments by Africa50 complement broader support from the African Development Bank, that has delivered $1.6 billion to Mozambique over the past decade, representing 41% of total Bank financing in the 48 years since the Bank began financing operations in the country. The investment includes $400 million in senior debt financing for the country's flagship $20 billion Liquified Natural Gas (LNG) plant project in Cabo Delgado, as well as the $34 million Mozambique Energy for All Project, which has connected over 45,500 households to electricity. The Bank's energy sector investments have helped to double Mozambique's national energy access rate from 30% in 2018 to 60% in 2024. The Bank has also supported agricultural transformation through special agro-industrial processing zones, including the Pemba-Lichinga corridor, while financing critical transport infrastructure along the Nacala and Beira corridors that enhance regional trade connectivity for the African Continental Free Trade Area. Africa50's investments in Mozambique include the following: Equity investment in the 175 MW Central Termica de Ressano Garcia (CTRG) gas-fired power plant Finalization of project development agreements for three transformation lines under an independent power transmission framework, partnering with Power Grid and Electricidade de Moçambique (EDM) Data Center Facility in Maputo City Looking ahead Adesina, who is preparing to conclude his tenure as President of the African Development Bank Group and Chairman of Africa50 on September 1, 2025, emphasized the Bank's robust transformation in the ten years since he became President. This includes the Bank receiving a historic increase in its capital from $93 billion to $318 billion, its High 5 development priorities delivering positive impact on 565 million people, maintaining its AAA rating, being ranked globally as the best multilateral financing institution, and as the most transparent development finance institution in the world. In addition, the African Investment Forum, launched in 2018 by the Bank and eight other institutions to accelerate Africa's economic transformation through strategic investment, has since mobilized over $225 billion in investment interest. "To close Africa's infrastructure gap requires that we build and scale up partnerships—joining our hands around the Baobab tree of infrastructure opportunities," Adesina said. "Together we are stronger, and Africa50 represents the strongest platform for unlocking global capital for African development." Looking ahead, he affirmed continued commitment to the continent: "I will not be stepping back, I will be stepping forward in our collective drive to unlock global capital for Africa." Speech: Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:
Khaleej Times
an hour ago
- Khaleej Times
Moody's upgrades Pakistan's credit rating to 'Caa1'
Moody's said on Wednesday it had raised Pakistan's credit rating by one notch to 'Caa1' from 'Caa2' due to an improving external financial position and it assigned the country a "stable" outlook. The announcement came within hours of Pakistan's Finance Minister Mohammed Aurangzeb saying there was more room for the central bank to cut the country's key policy rate from 11% on the back of positive economic indicators. "The credit rating's improvement is a sign that economic policies are heading toward the right direction," Prime Minister Shehbaz Sharif said in a statement. Pakistan's international bonds rose as much as 1 cent to between 90 and 100 cents on the dollar following the ratings upgrade. It lifted most of them to their highest since early 2022 when fears of a full-blown debt crisis sent them plunging to as little as 30 cents. Moody's decision to raise the rating by one notch after Fitch and SP did the same will help Pakistan's capability to raise external debt. Pakistan says its economy is on a recovery path after a $7 billion IMF bailout helped to stabilise it. "We changed the outlook for the Government of Pakistan to stable from positive," Moody's said in a statement. "The upgrade to Caa1 reflects Pakistan's improving external position, supported by its progress in reform implementation under the IMF Extended Fund Facility (EFF) program," it said. Pakistan's debt affordability has improved, but remains one of the weakest among rated sovereigns, Moody's said, adding that the Caa1 rating also reflected the country's weak governance and high degree of political uncertainty. Aurangzeb told a gathering of businessmen in Islamabad ahead of the Moody's announcement that he was expecting an improvement in Pakistan's credit rating by other agencies after Fitch and SP. "We are hopeful of progress in terms of the policy rate going south," he added. Aurangzeb said it was his personal view that there was more room for a rate cut towards the end of the year, adding that it was for the central bank to make the final call on the issue. The next policy rate announcement is due on September 15. The central bank left its key interest rate unchanged at 11% on July 30, going against analyst expectations. In a Reuters poll they had forecast a reduction of 50 to 100 basis points. The bank said the inflation outlook had deteriorated due to rising energy prices. Inflation accelerated to 4.1% year-on-year in July.
