Friday, May 27, 2022
  • Home
  • About
    • Editorial Guidelines – Accuracy
    • Trust and transparency
  • Advertise
  • Login
  • Register
Ghana News - GhStandard
  • Home
    • General
    • Social
    • Religion
    • Education
    • Health
    • Environment
    • Science
  • Breaking
    • Latest News
    • Trending News
  • Politics
    • Opinions
    • Speeches
  • Sports
  • Crime
    • Legal
  • Business
    • Economy News
    • Finance News
    • List of Businesses
    • Ghana – Economy
    • Business in Ghana
    • Life in Ghana
  • World
    • International News
    • Botswana News
    • Burkina Faso News
    • Cameroon News
    • Cape Verde News
    • Comoros News
    • DR Congo News
    • Egypt News
    • Ethiopia News
    • France News
    • Gabon News
    • Germany News
    • Guyana News
    • Kenya News
    • Hungary News
    • Malawi News
    • Mali News
    • Morocco News
    • Nigeria News
    • Qatar News
    • South Africa News
    • South Korea News
    • Sudan News
    • UK News
    • US News
    • Tunisia News
    • Zimbabwe News
  • Entertainment
    • Music Related
    • Movies
  • Lifestyle
    • Fashion News
    • Food Related
    • Travel News
  • Features
    • Profiles
    • Press Release
    • Obituary
    • Entrepreneurship News
      • Faith and Business
      • Digital Marketing
No Result
View All Result
  • Home
    • General
    • Social
    • Religion
    • Education
    • Health
    • Environment
    • Science
  • Breaking
    • Latest News
    • Trending News
  • Politics
    • Opinions
    • Speeches
  • Sports
  • Crime
    • Legal
  • Business
    • Economy News
    • Finance News
    • List of Businesses
    • Ghana – Economy
    • Business in Ghana
    • Life in Ghana
  • World
    • International News
    • Botswana News
    • Burkina Faso News
    • Cameroon News
    • Cape Verde News
    • Comoros News
    • DR Congo News
    • Egypt News
    • Ethiopia News
    • France News
    • Gabon News
    • Germany News
    • Guyana News
    • Kenya News
    • Hungary News
    • Malawi News
    • Mali News
    • Morocco News
    • Nigeria News
    • Qatar News
    • South Africa News
    • South Korea News
    • Sudan News
    • UK News
    • US News
    • Tunisia News
    • Zimbabwe News
  • Entertainment
    • Music Related
    • Movies
  • Lifestyle
    • Fashion News
    • Food Related
    • Travel News
  • Features
    • Profiles
    • Press Release
    • Obituary
    • Entrepreneurship News
      • Faith and Business
      • Digital Marketing
No Result
View All Result
GhStandard News
No Result
View All Result
Home Africa Business

Africa must be at the forefront of its development- President Akufo-Addo

The Ghanaian Standard by The Ghanaian Standard
May 12, 2022
in Africa Business
Reading Time: 3 mins read
A A
Africa must be at the forefront of its development- President Akufo-Addo
ShareTweetSend

President Nana Addo Dankwa Akufo-Addo has underscored the need for Africa to be dependent on its own financial resources for sustainable development.

According to the President, the continent must not rely on external development assistance for its development but find ways to expand the capital base of regional financial institutions like the Africa Development Fund (ADF), to make them significant in the scheme of things.

President Akufo-Addo said this when the President of the African Development Bank (AfDB) Dr Akinwunmi Adesina called on him at the Jubilee House, Accra on Wednesday.

Dr Adesina is on a day’s visit to Ghana ahead of the Bank’s 2022 Annual Meetings which would be held in Accra from May 23 to 27.

The meetings, which will be attended by several African leaders, will be held on the theme: “Achieving Climate Resilience and a Just Energy Transition for Africa.”

It will address climate change and energy transition challenges of the continent, as well as make a case for sustained replenishment of the ADF and for the fund to be allowed to use its equity to leverage more resources for the African continent.

President Akufo-Addo emphasized that the World Bank, which finances more activities in Africa, ought not to be at the forefront of the continent’s development.

“The statement that the World Bank gives more money, finances more activities than regional financial institutions like the ADF on the continent is not a comforting one.

“I think that we should be in the lead and the World Bank supports, but not the other way round…and that therefore requires that we all focus on how best we can to expand the capital base of the AfDB and the ADF to give them a greater significance in terms of being able to raise money on the global bond market so we can play the lead role in financing our development,” he said.

The President described as laudable, the idea of holding the conference outside the Ivorian capital, Abidjan, where the AfDB is based, saying it would give Ghana the necessary exposure.

He said having the annual meetings in Ghana and having significant African leaders attending would ensure that “a big case is made for the need to mobilize more resources for the ADF.”

Dr Adesina expressed his appreciation to the government of Ghana for accepting to host the Annual meetings and indicated the high level of confidence the bank had in the country.

The AfDB President said this year’s meetings, which will also mark the 50th anniversary of the African Development Fund, would be leveraged to advocate the continual renewal of the Fund that has so far provided financing of some 45 billion dollars to low-income states on the continent.

He appealed to President Akufo-Addo to urge his counterparts who will be attending the meeting to make a strong case for the Fund.

“Your personal advocacy on this and along that of other African leaders who would be present at the meetings would be absolutely critical,” he said.

GhStandard PR: Do you have a corporate press release, breaking news story, obituary, missing person announcement, or any other inquiry, kindly contact GhStandard at [email protected]. Follow GhStandard on Google News

SimilarNews

Dr Akinwumi A. Adesina

FULL TEXT: Dr Akinwumi A. Adesina’s AfDB Annual Meetings opening speech, May 24, 2022, Accra, Ghana

May 27, 2022
Dr Yaw Osei Adutwum

Minister of Education Dr Yaw Osei Adutwum embroiled in $1.2m scandal

May 26, 2022
There is no dignity in begging for food - Dr Adesina

There is no dignity in begging for food – Dr Adesina

May 26, 2022
Finance Minister tasks AfBD to raise $50 billion on the capital markets

Ghana Finance Minister tasks AfBD to raise $50 billion on the capital markets

May 26, 2022
Source: Ghana News Agency
Tags: Africa Development FundAfrican Development BankNana Addo Dankwa Akufo-AddoWorld Bank

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Similar Topic

Economics Conference GITFiC

African Trade and industry players urged to make positive impact on the continent

May 25, 2022
Africa needs $3 trillion to reduce climate change vulnerabilities- Ofori-Atta

Africa needs $3 trillion to reduce climate change vulnerabilities- Ofori-Atta

May 24, 2022
Ghana and Mozambique agree to cooperate

Ghana and Mozambique agree to cooperate

May 24, 2022
highest interest rates in Africa

Ghana has highest interest rates among top 11 African countries – Report

May 21, 2022
Sixth GITFIC conference to leverage African development

Sixth GITFIC conference to leverage Africa development

May 20, 2022
Chifeng Gold Group secures funding to expand Wassa Mine

Chifeng Gold Group secures funding to expand Wassa Mine

May 12, 2022
Please login to join discussion

Latest News

Students urged to develop comprehensive career goals

IGP visits families of victims of Nkoranza shootings

Aspiring Eastern Regional Youth Organiser canvasses for votes

Full list of UENR Courses

Fund Raising Durbar held to support Brakwa Health Center

PARDA calls for critical attention to child protection

Court bonds unemployed two years to be of good behaviour

Nero X opens up on his two-year break from music, bounces back with “Shame”

Parents threaten to withdraw pupils from Antem school over flooding

Full list of University of Mines and Technology Courses

Prev Next

Trending News

Full Black Stars Squad for 2023 AFCON Qualifiers and Four-nations Tournament in Japan

Ghana Braids: 25 Lovely Ghana Weaving Hairstyles 2022 and all you need to know

Female student killed at Cape Coast: Body found without private part

Best Banks in Ghana: 2021 Performance Ranking of Ghana’s Banking Sector

Speaker laments over delays in releasing funds to Parliament

DStv Nigeria Packages, Channels, Prices

Parents threaten to withdraw pupils from Antem school over flooding

Suspected armed robber in police custody in Wa

FULL TEXT: Dr Akinwumi A. Adesina’s AfDB Annual Meetings opening speech, May 24, 2022, Accra, Ghana

Fund Raising Durbar held to support Brakwa Health Center

Prev Next

Most Read

DStv Ghana Packages, Channels & Prices

20 Most Profitable Business Ideas in Ghana 2022

Complete List of Forex Bureaux in Ghana

Hisense Ghana – Showrooms, New Prices & Promotions

GOtv Ghana Packages, List of Channels and Prices

Interest Rates in Ghana – Banks with Best Lending Rates – 2021

Top 100 Best Hospitals in Ghana – 2021 (According to Survey)

Nursing Schools in Ghana 2022

Best SHS in Eastern Region – 2019 WASSCE Ranking

Category B Schools in Ghana

Prev Next

Editor's Pick

Top 100 Best Hospitals in Ghana – 2021 (According to Survey)

Nursing Schools in Ghana 2022

Bank Charges in Ghana: Full Survey of Bank Charges – 2021

Best Banks in Ghana: Based on Financial Performance (2021)

LIVE: Ghana Premier League table – GPL Table 2022

50 Profitable Online Business Ideas for Beginners [2022]

Prev Next
GhStandard News

The Ghanaian Standard brings you accurate Breaking News, Trends & Top Stories in Business, Politics, Lifestyle, Technology, and more from Ghana, Nigeria, Africa, and across the globe.

GhStandard.com - News made for discerning minds ...

Google News - The Ghanaian Standard, Ghana News
  • About
  • Contact
  • Advertise

© 2021 The Ghanaian Standard - Breaking News & Top Stories in Ghana, Africa, Business, & More | Powered by YellGh - Designed by EnspireFX.

No Result
View All Result
  • Home
    • General
    • Education
    • Health
    • Social
    • Religion
    • Science Related
  • Breaking News
    • Latest
    • Trending
  • Politics
    • Opinions
    • Speech
  • Sports
  • Crime
    • Legal
  • Business
    • Economy
    • Finance
    • Finance & Investment
    • Business in Ghana
  • Sports
  • International
    • Cameroon
    • Cape Verde
    • DR Congo
    • Guyana News
    • Kenya News
    • Nigeria News
    • South Africa News
    • Qatar News
  • Entertainment
    • Movies
    • Music
  • Lifestyle
    • Fashion
    • Food Related
    • Travel
  • Feature
    • Press Release
    • Profiles
    • Obituary
  • Editorial
    • Ethics and Guidelines
    • Trust and Transparency
HTML tutorial

© 2021 The Ghanaian Standard - Breaking News & Top Stories in Ghana, Africa, Business, & More | Powered by YellGh - Designed by EnspireFX.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In