Latest news with #Adesina
Zawya
6 days ago
- Business
- Zawya
Liberia salutes African Development Bank President Adesina in landmark Government session
I want you to know that your legacy in Liberia is strong and enduring, President Boakai tells Adesina 'With your vast natural resources, Liberia has no business being poor.' — Adesina Liberian President Joseph Nyuma Boakai convened the full spectrum of his government leadership to hear from African Development Bank President Dr. Akinwumi Adesina ( whom he lauded for a transformative decade at the helm of Africa's premier development finance institution. The expanded cabinet meeting, held Tuesday 22 July at the Ellen Johnson Sirleaf Ministerial Complex in Monrovia, brought together all three branches of the Liberian government: executive ministers, legislative leaders, the Chief Justice, and heads of state-owned enterprises. The event served as both a celebration of partnership and a platform for Adesina to share leadership insights as he nears the end of his term in August 2025. 'You have shown the world that bold ideas, when combined with clear vision and determination, can produce extraordinary results,' President Boakai declared. 'Through your leadership, the African Development Bank has invested in real solutions that touch lives every day.' Underscoring the gravity of the occasion, the Liberian president added: "The fact that all three branches of our government are represented speaks volumes about the value we place on your visit and the respect we have for your leadership and contributions.' In his rousing keynote address titled "Liberia: Arise, and Shine!", Dr. Adesina reflected on the Bank's enduring partnership with Liberia, which has resulted in $1.02 billion in investments across 72 projects since 1967. Key achievements include nearly 2,500 km of electricity transmission lines connecting Liberia with Côte d'Ivoire, Sierra Leone, and Guinea; the Liberia Energy Efficiency and Access Project, which delivered nearly 40,000 new grid connections; and 177 km of new roads including the transformational Fish Town-Harper and Karloken to Fish Town corridors. A central highlight of the event was the launch of the Liberia Youth Entrepreneurship Investment Bank (YEIB), a flagship $17 million initiative under the African Development Bank's Youth in Africa strategy. Liberia becomes the first African country to establish the dedicated youth-focused financial institution, aimed at equipping young Liberians aged 18-35 with the tools and capital to drive national development through entrepreneurship. President Boakai described the Bank's portfolio as 'more than numbers on paper.' 'They are roads that connect our communities, energy that lights homes and businesses, and agriculture projects that strengthen food security and create income for our farmers,' he said. Drawing from his experience as Nigeria's former Minister of Agriculture, and his decade-long leadership of the Bank, Adesina offered the Liberian cabinet a 7-point framework for transformational governance: setting clear and ambitious goals, ensuring measurable results, promoting teamwork and accountability and reforming institutions, especially the civil service and judiciary. 'Don't just blow the whistle, use your yellow card or red card. There is no need for rules in a soccer game if the referee never uses the yellow card or the red card,' Adesina said. 'You cannot spend time baby-sitting poor performers. The public is eager for results and time is not on your side. So, be firm. Reward performers. Dispense with non-performers.' He recommended the adoption of a 'One Government approach', as well as the establishment of a presidential awards program to 'recognize and incentivize inter-agency collaboration'; drawing from similar models at the African Development Bank. The Bank Group President urged the country to unlock greater value from its abundant resources. "With your vast natural resources, Liberia has no business being poor,' he stated. 'The export of raw materials is the door to poverty. The export of value-added products is the highway to wealth.' During a Q&A session, Adesina emphasized the importance of technical and vocational training, citing that 60 percent of Liberia's population is under the age of 35. He was responding to Education Minister Jarso Maley Jallah who inquired about strengthening entrepreneurship through the education system. Responding to a question from the Minister of Information, Cultural Affairs and Tourism, Jerolinmek Piah on achieving fiscal targets, Adesina urged the government to plug revenue leakages, noting that Africa loses $88 billion annually to illicit financial flows. "Make your country investable: invest in transparency, rule of law, create the right environment, provide incentives," he added. Sannah Ziama, a local investor, praised Adesina's visionary leadership and called for sustained investments in solar power to unlock Liberia's industrial potential. As a low-income country and transition State, Liberia continues to benefit from the African Development Fund, the Bank's concessional lending arm, as well as the Transition Support Facility, and the Nigeria Trust Fund. Liberia is also part of the inaugural group of countries that have developed energy compacts under the Mission 300 program, a joint initiative of the African Development Bank and the World Bank to deliver electricity to 300 million Africans by 2030. In recognition of his exceptional contributions, President Boakai presented Adesina with a Presidential Pin of Honour. Adesina had previously received Liberia's highest national honour – the Order of the Star of Africa, Grade of Grand Band – in 2018. 'Dr. Adesina, as you prepare to move on from this chapter, I want you to know that your legacy in Liberia is strong and enduring, President Boakai said. 'The programs you have championed will continue to make an impact for years to come. Thank you for your faith in Liberia's potential, and thank you for investing in our people, especially our youth.' Adesina was accompanied by the Bank's Director General for West Africa, Lamin Barrow; Bank Executive Director for Liberia, Sierra Leone, The Gambia, Ghana and Sudan, Rufus Darkortey; and Acting Country Manager, Foday Yusuf Bob. Liberia's historical connection with the African Development Bank dates back to the institution's founding, when Liberian official Romeo Alexander Horton served as the pioneer Chairman of the Committee of Nine that established the Bank in 1964. Read Dr. Adesina's address here ( Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media Contacts: Natalie Nkembuh and Tolu Ogunlesi Communication and External Relations media@ 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:
Maroc
17-07-2025
- Business
- Maroc
Under HM the King's Leadership, Morocco Establishes Itself as Emerging Economic Power
The major strides made by Morocco under the leadership of His Majesty King Mohammed VI have enabled the Kingdom to enhance its international attractiveness and establish itself as an emerging economic power, said African Development Bank (AfDB) President Akinwumi Adesina. Thanks to its political stability and growing appeal, Morocco has succeeded in effectively mobilizing capital by diversifying its sources of financing, Adesina told MAP on the occasion of the celebration of the Throne Day. This positive momentum, he noted, has resulted in a significant increase in foreign direct investment (FDI), a sustained development of the capital markets, and greater reliance on international financing and public-private partnerships. He further recalled that over the past two decades, Morocco's gross domestic product (GDP) has doubled, alongside the development of world-class infrastructure that reflects the Kingdom's bold ambitions. In this regard, he cited landmark projects such as the Noor Ouarzazate solar complex, one of the largest in the world, the strategic ports of Tanger Med and Nador West Med, both major intercontinental maritime hubs, as well as Africa's only high-speed rail line. These achievements, he said, illustrate Morocco's emerging trajectory. Adesina also emphasized that substantial investments have been strategically directed toward high-potential sectors such as the automotive industry, digital economy, and renewable energy. These efforts have contributed to boosting the competitiveness of Moroccan companies, accelerating the diversification of national production, and multiplying the levers for sustainable growth across the Kingdom. MAP:17 July 2025
Indianapolis Star
20-06-2025
- General
- Indianapolis Star
INdulge: Traditional Nigerian stew with rich history is best thing I ate in Indy this week
Juneteenth, which commemorates the day the last slaves of the Confederacy were freed in 1865, has come and gone. However — if you'll allow me a brief moment on my radical, extremist soapbox — one could argue you don't need a federal holiday to support Black-owned businesses in your community. Among those businesses are Indianapolis' various West African restaurants. For this week's INdulge, I sampled a sliver of that robust culinary tradition with: If you're unfamiliar with Nigerian food, I suspect you could wander up to just about any restaurant that serves it, order a dish completely at random and end up with a memorably flavorful surprise. For an idea of where to start, consider the ayamase at Jollof Buka on the Near Westside. Black-owned restaurants: 40 to check out in the Indianapolis area Ayamase (aye-ah-mah-shay) is a thick sauce made with a blend of green peppers (usually bell peppers and/or unripe chilies), aromatic vegetables, hard-boiled egg and irú, fermented African locust beans. Various cuts of meat are also a common ingredient; Jollof Buka prepares its ayamase ($16.95) with shreds of turkey and chicken. These components are cooked in bleached palm oil, which has a distinct yet hard-to-place flavor I can best describe as hardy. The ayamase has a semi-dry, fibrous consistency similar to other spice pastes like Mexican salsa macha or Indonesian sambal. It packs a slight vegetal sweetness thanks to the peppers, while the meat and egg make it a well-rounded, savory meal. Though the stew is not especially spicy, an overly ambitious spoonful won't go unnoticed on the way down your throat. While not as well-known as jollof, Nigeria's national dish of spiced rice from which Jollof Buka gets its name (buka is a term for a casual restaurant in Yoruba, one of three major languages spoken in Nigeria), ayamase is extremely popular in the West African country. Unlike centuries-old jollof, ayamase has likely only been around for about a hundred years. The most popular origin story for ayamase tells of a woman living in the small Nigerian town of Ikenne named Felicia Ajibabi Adesina, who in the 1920s developed a sauce of peppers and palm oil to serve at her food stand with Ofada rice (ayamase is often referred to as Ofada stew). Supposedly, Adesina's short-tempered husband would often get into scraps with neighbors, prompting concerned friends and family members to call him Mase, a Yoruba word that means 'don't' — as in, come on, man, don't hit him. In turn, Adesina's wildly popular sauce became known as obe aya Mase, meaning 'Mase's wife's sauce,' and eventually just ayamase. Previously in INdulge: Why do dads love to grill? This BBQ dish was best thing I ate in Indy this week While the fun stories behind our favorite foods typically fall apart under scrutiny, the legend of Felicia Adesina actually seems to hold up. It's the only historical explanation for ayamase I can find, including in one of Nigeria's oldest independent newspapers, The Guardian. Amid a lack of contrary evidence, I'm content to believe the tale of Adesina's fiery entrepreneurial spirit and similarly combustible husband. Whoever its inventor, ayamase remains a strong representative of Nigerian cuisine. Though summer generally doesn't stir cravings of hot, spiced stew, I'd say a visit Jollof Buka is worth the sweat. What: Ayamase, $16.95 Where: Jollof Buka, 2501 W. Washington St., (317) 384-1575, In case that's not your thing: Jollof Buka's menu caters to diners of widely varying curiosity levels, so it's OK if you're totally new to Nigerian food. The jollof with jerk chicken ($18), fried spiced chicken wings ($9) or vegetarian okra soup ($16.49) should all ring reasonably familiar to the Western palate. Meanwhile, more adventurous eaters can swing for peppered ponmo (cow skin cooked in chili paste, $16) or the spicy goat stir fry called asun ($16, weekends only).
Kuwait Times
31-05-2025
- Business
- Kuwait Times
Mauritanian Africa's new ‘super banker'
ABIDJAN: Mauritania's former economy minister Sidi Ould Tah was on Thursday elected to succeed Nigeria's Akinwumi Adesina as president of the African Development Bank (AfDB) and tackle the withdrawal of US financing from the institution. In 2015 Adesina took six rounds of voting to become Africa's 'super banker' but Tah, 60, secured the prestigious post in only three, winning 76.18 percent of votes. Zambian economist Samuel Munzele Maimbo trailed well behind in second on 20.26 percent, with Senegal's Amadou Hott third on 3.55 percent. The winner had to secure both a majority of votes from all 81 member countries and a majority of votes from the 54 African nations who are part of the AfDB. Tah, who headed the Arab Bank for Economic Development in Africa (BADEA) for 10 years, secured 72.37 percent of African votes. 'I wish to congratulate Dr Sidi Ould Tah on his successful election as the President-elect of the African Development Bank Group,' Maimbo said in a statement. 'I entered this race driven by love and deep concern for our continent, and offered a vision for Africa's future. Today, the Governors have chosen the leader they believe will best deliver the vision of the Africa we want at this pivotal moment.' With several north African states members of the AfDB, Tah's experience at the BADEA could be a bridge with sub-Saharan Africa. In his pitch for the AfDB leadership, he vowed to strengthen regional financial institutions, assert Africa's financial independence on global markets, use population growth as a development lever and build climate change-resistant infrastructure. The AfDB, founded in 1964, is one of the world's largest multilateral development banks and is funded by member subscriptions, loans raised on global markets as well as repayments and income from loans. But Tah will immediately face a disrupted international economic environment, notably due to announcements from the US Trump administration. Beyond tariffs, the AfDB is also facing the threat of losing $500 million in US funding for its projects to support low-income countries on the continent. All five candidates in the running for the top job promised to make the AfDB even more effective to transform Africa, continuing Adesina's five priorities to light up, feed, industrialize, integrate and improve quality of life. 'I am proud of the legacy we are leaving behind for... my successor, for the bank and for Africa,' the outgoing president said in a speech on Tuesday. 'We have built a world-class financial institution that will continue to advance Africa's position within a rapidly changing global development and geopolitical environment,' he added. Adesina said 565 million people had benefited from AfDB projects during his decade in charge. Major projects include support for the construction of the Gabal El Asfar wastewater treatment plant in Egypt — the largest in Africa. The bank also helped finance a bridge connecting Senegal and the Gambia, expanded the port of Lome in Togo and supported sanitation projects in Lesotho and access to electricity in Kenya, he said. From 2015 to this year, the bank's capital more than tripled from $93 billion to $318 billion, he added. — AFP
IOL News
30-05-2025
- Business
- IOL News
Let the Soil Speak: A Decade of African Dignity and Development
When the morning sun gilds the rooftops of Abidjan, it doesn't just mark a new day, it signals another chapter in Africa's quiet but determined rewriting of its destiny. In a continent too often narrated in shadows, Akinwumi Adesina, President of the African Development Bank (AfDB) has, over the past decade, spoken in light. At what may be his final annual gathering with the press in his role as AfDB President, Adesina was not merely closing a chapter; he was bequeathing a manifesto. This was no hollow valedictory, it was a clarion, a drumbeat echoing across the savannahs and capitals alike: Africa's development must be pursued with pride. Pride, not as pomp, but as purpose. The Measure of a Legacy When Adesina took the helm of the AfDB ten years ago, he did not walk into a vacuum. The Bank was a reputable institution, yes, but it lacked teeth in a global financing order that often read Africa as an afterthought. He sharpened those teeth. From a capital base of $93 billion (R1.67 trillion), the Bank under his leadership now commands $318 billion (R5.7 trillion), not as mere digits, but as vessels of life, infrastructure, light, and opportunity. But as any African griot will tell you, you can't measure the rain only by how full the river runs, you must ask the farmer if the harvest came. And so, Adesina pointed not to balance sheets but to the 565 million lives touched by the Bank's "High 5s": to light up and power Africa, feed Africa, industrialize Africa, integrate Africa, and improve the quality of life for the people. From building a Bridge to electrification in forgotten corners of Kenya, the High 5s did more than build. They restored dignity. He recalled a Kenyan woman who was asked what she thought of the Bank. She responded that she did not know the President, nor the Board. Her words were unfiltered truth: 'I don't know the African Development Bank. I just know that we were in darkness, and now we have light.' In that single sentence lies the poetry of true development, when institutions disappear, and transformation becomes a lived reality. The Sweat of Leadership Adesina, charismatic yet grounded, spoke of the grey hairs earned during this journey. Not signs of aging, he insisted, but "battle marks from pushing against the tide of global indifference." There is a tendency in international circles , often housed in glass towers far from dust and poverty, to measure leadership in conferences attended or communiqués issued. Adesina reminded us that African leadership, the kind that makes a dent, is measured in calloused hands, sleepless nights, and the refusal to accept mediocrity cloaked as realism. He did not do it alone. "This is not the story of one man,' he said. 'It is the chorus of a continent refusing to be pitied and choosing instead to be proud.' A New Horizon: The 2025 Elections As the 2025 AfDB Annual Meetings return to Abidjan from May 26 to 30, the institution stands at a new crossroads. With the baton soon to be passed, one of the most closely watched contenders is Swazi Tshabalala, a strategic mind from South Africa whose pitch to BRICS AFRICA CHANNEL earlier this year was clear: 'Lift Africa.' Her agenda is as pragmatic as it is aspirational: transform the Bank into a high-performance, digitally-enabled machine of delivery; unlock large-scale infrastructure as a foundation of continental competitiveness; fuel regional integration through private sector mobilisation and financial innovation. In her vision, the AfDB becomes less a financier of projects and more a conductor of Africa's symphony of progress. Her leadership plan is not one of wishful thinking. It is laced with the hard language of execution, efficiency, and outcomes. Tshabalala is betting on Africa's potential ,not just as a narrative but as capital. And her candidacy may well signal the continued Africanisation of African solutions. Telling Africa's Story - Our Way Adesina ended his remarks not with a conclusion, but with a challenge. 'You, the media, are not bystanders. You are amplifiers. You shape the world's imagination of Africa.' In that statement lies a deeper truth: Africa is not lacking in achievements , it is underserved by storytelling. Too often, the continent is misreported, or underreported, or worst, told through the eyes of those who never smelled the red earth or heard the morning prayers from a Nairobi slum or a Cape Flats mosque. The narrative is not just about changing perceptions. It is about reclaiming ownership. As the old isiZulu proverb goes, 'Until the lion learns to write, every story will glorify the hunter.' The Road Ahead Africa's journey, to paraphrase Achebe, is not a sprint , it is a long walk across dry rivers, with dreams tucked into every blister. And yet, the vision that leaders like Adesina, and perhaps Tshabalala, are planting is one that does not merely dream. It builds. So, when we speak of legacy, let us not mistake it for nostalgia. Let it be active , a verb, not a noun. A call to pick up the tools and shape a continent worthy of its children. The African Development Bank, as it sets sail into its next decade, must remain both shield and spear. It must deflect the cynicism of old powers and pierce through the bureaucratic fog that often slows our stride. For if a woman in a Kenyan village can remember the gift of light, surely the world can remember to look again, not at Africa's problems, but at its progress. With pride. * Ayanda Holo is the President of TV BRICS AFRICA and a writer whose work on development, diplomacy, and dignity has been featured across global media. He was reporting from Abidjan during the 2025 AfDB Annual Meetings ** The views expressed do not necessarily reflect the views of IOL, Independent Media or The African.
