JOHANNESBURG - The future for Africa looks promising, although the continent will not develop through aid but rather via investment, African Development Bank (AfDB) President Akinwumi Adesina has said.
Referring to the bank's latest African Economic which forecast growth of four percent this year and 4.1 percent in 2020, Adesina said economic opportunities in Africa were generating considerable interest globally and that an agreement last March establishing the African Continental Free Trade Area (AfCFTA) would create the largest free trade area in the world.
"The African Development Bank is at the centre of the actions taken to ensure the success of the continental free-trade area," he told diplomats in Abidjan, Ivory Coast on Tuesday. "We have invested over one billion dollars to support the financing of trade in Africa."
He said the free movement of people on the continent was another important driver of development.
"We need to break down all barriers that impede the free movement of people across the continent, especially that of workers, because this is vital for promoting investment," Adesina said.