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Development of Africa: the AfDB focuses on the efficient use of African capital

10/04/2025
Source : ORISHAS FINANCE
Categories: Sectors

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On Wednesday, April 9, 2025, the Chief Economist and Vice President of the African Development Bank Group announced that the AfDB is working to further identify the factors that hinder the efficient use of African capital, in order to better succeed in the challenge development of the continent.

Kevin Urama was speaking at an online press conference on the upcoming annual meetings of the Old Style”, serif">BAD in Abidjan, Côte d'Ivoire, from 26 to 30 May 2025, on the theme: “Making the most of Africa's capital to promote its development”. According to the Vice President, “African capital is already working for development. We want to strengthen this efficiency so that this capital can better succeed in the development of the continent.” According to him, several factors hinder the effective use of capital for development projects, not only in Africa, but also around the world. It suggests that Africa is improving the mobilization of domestic, fiscal, and non-fiscal resources, which would improve productivity on the continent and “stop borrowing so much money from outside.” For the economist, African countries are forced to continue borrowing even in the event of a budget deficit, because they do not have sufficient resources to finance development.

Les responsables de l' institution financière africaine estiment que près de 6 000 personnes, dont plusieurs chefs d' État, ministres des Finances et des gouverneurs des banques centrales des 81 pays membres sont attendues aux prochaines assemblées annuelles du groupe de la BAD

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