Dr. Akinwumi Adesina, President of the African Development Bank Group, delivered an inspiring address at Chatham House on Friday, emphasizing Africa’s vast untapped potential and abundant opportunities.
The presentation, stressing on “Envisioning Africa’s Economic Prospects,” drew a diverse audience of diplomats, investors, academics, politicians, and media.
Adesina highlighted the many strengths of the African continent, including a young and dynamic workforce, massive renewable energy potential, rich biodiversity, rapid regional integration, and innovative solutions designed to unlock its vast natural resources.
He stressed that, despite facing global challenges, Africa remains the second-fastest-growing economy in the world, after Asia.
Citing the Bank’s African Economic Outlook Report, Adesina revealed promising economic projections for the continent, with a growth rate of 3.7% expected in 2024, increasing to 4.3% in 2025.
He also noted that 15 African countries have achieved real growth rates of at least 5%, and that half of the world’s 20 fastest-growing economies are in Africa. This report was unveiled during the Bank’s Annual Meetings held in Nairobi in May.
Adesina’s address underscored the resilience and potential of Africa’s economies and called for continued investment and support to harness these opportunities for sustainable development and prosperity.
