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    Recent downgrades by S&P, Fitch ratings on Ghana unfair – African Peer Review Mechanism

    Private sector critical to renewable energy target – Sector Ministry

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Gov’t must invest more resources into agriculture sector – Agribusiness Chamber

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

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    BoG, EOCO deepen collaboration to build robust financial sector

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Coronation Insurance launches marine insurance e-portal for importers

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

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    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

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    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

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    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

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African Development Bank to invest $3 billion in Africa’s pharmaceutical industry

June 21, 2021
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In recognition of the devastating effects of the COVID-19 pandemic on African economies, the President of the African Development Bank, Akinwumi Adesina, says the bank is willing to help West African countries accelerate growth and development to ensure economic stability.

Speaking at the opening of the 59th ECOWAS Heads of State and Authority summit in Accra on Saturday, June 19, 2021, Mr. Adesina said the continent needs to build a strong healthcare system in order to recover.

“The African Development Bank projects that Africa’s GDP growth will rebound to 3.4% this year. West Africa’s GDP growth is projected to recover from -1.5% in 2020 to 2.8% in 2021 and 3.9% in 2022.”

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“Africa should not be begging for vaccines. Africa should be producing vaccines. Africa Development Bank ramps up support to Africa to produce vaccines as part of the vaccines plan for the African Union.”

The bank has thus pledged $3 billion to develop the pharmaceutical industry in the continent.

“The African Development Bank plans to invest in building quality healthcare infrastructure for the continent. AfDB will thus commit $3 billion to develop the pharmaceutical industry in Africa,” he added.

Source: Edna Agnes Boakye | citinewsroom.com | Ghana
Tags: African Development BankCiti Business News
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