AfDB transformation strategy for Africa

For the past ten years, Africa has recorded some of the world’s strongest rates of economic growth. At the same time, many African economies continue to function at well below their full potential. Structural transformation is needed to create more jobs, reduce poverty and accomplish sustainable development objectives.

The African Development Bank’s High 5 priority areas are intended to support African countries’ achievement of the SDGS. They are: Feed Africa; Light up Africa; Industrialize Africa; Integrate Africa; and Improve the Quality of Life for the people of Africa.

Feed Africa

Since 2015, 74 million Africans have benefited from improved agricultural technologies through the Bank’s efforts to support increased food security on the continent.

In western Mauritania, for example, the Brakna-Ouest irrigation infrastructure improvement project, supported by the Bank in the amount of $12 million, enabled 1 500 farming and livestock-producing families to return to cultivating their fields. 

Light up Africa

Without electricity, agriculture cannot effectively meet the growing challenge of food security in Africa. The Bank has made investment in energy a priority. Since 2016, it has mobilized $12 billion for its “Light Up Africa” strategic priority. Through this investment, 13.4 million people have gained access to electricity.

Morocco has made significant progress in widening access to electricity. In just the past twenty years, the electricity system has expanded to cover almost the entire country. The national rural electrification program, supported by the Bank with 155 million euros, has connected nearly 12.8 million Moroccans to the national power grid.

Industrialize Africa

As part of the Bank’s “Industrialize Africa” priority, 9 million people have gained access to private financing. In Nigeria, for instance, where more than 70 percent of the population depends on agriculture, fluctuating harvests have significant repercussions on yields, income and food security.

One solution is fertilizer, particularly if locally produced. The Bank provided $100 million to support construction of a modern fertilizer plant in Port Harcourt.

Integrate Africa

To derive more benefit from industrialization, Africa must become better integrated in terms of trade and markets. Through integration, African countries can gain access to larger markets and thereby increase incomes for millions of residents through new opportunities.

Since 2015, 69 million people have benefited from the Bank’s support for new transport infrastructure that has advanced integration. Gaps in the primary transport corridors have been filled, links between countries have been strengthened, and intra-African trade has been revitalised.

A good example of this is The Nairobi-Addis-Ababa corridor, which received $670 million in Bank financing and which has enhanced the potential for trade and job growth in Ethiopia and Kenya.

AfDB President, Akinwumi Adesina

Improve the quality of life for the people of Africa

An important part of improving living conditions is providing better access to essential services such as health, water and sanitation. Since 2015, Bank-supported projects have given 43 million people access to water and sanitation.

source: APO