Sub-Saharan Africa Needs $425bn Financing By 2030 – Adesina

Sub-Saharan Africa Needs $425bn Financing By 2030 – Adesina

The President of the African Development Bank, Dr Akinwumi Adesina, says Africa needs $425bn in additional gross financing by 2030.

He said this in a statement announcing that the Africa Investment Forum was set to host its 2021 Market Days in Abidjan, Côte d’Ivoire.

Adesina said, “We look forward to welcoming investors to join us in Abidjan – and virtually around the world – to take the next step in Africa’s growth.

“To achieve this growth, however, and to bounce back to pre-pandemic levels, Africa will need significant financial support.

“As an example, the whole of Sub-Saharan Africa will need $425bn in additional gross financing by 2030.”

The statement signed by the Communication and External Relations Department Officer, Olufemi Terry, said that the annual business gathering would showcase transformative investment opportunities across the continent.

The AfDB added that discussions at the gathering would focus on agriculture and agro-processing; energy and climate; health; ICT and telecommunication; and industrialisation and trade.

It said these are all sectors prioritised under the Africa Investment Forum’s Unified Response to COVID-19 initiative launched in 2020.

The forum is set to hold from December 1-3, 2021.