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Business News of Wednesday, 27 July 2022


Adesina urges US investors to back Africa

Dr Akinwumi Adesina Dr Akinwumi Adesina

The President of the African Development Bank Group, Dr Akinwumi Adesina has given strong assurance to US investors that Africa is a secure, competitive and profitable market.

Speaking at the US-Africa Business Summit in Marrakech, Morocco, Dr Adesina wants American investors to see Africa as a logical investment destination and to engage with the continent in win-win partnerships.

The AfDB boss said that despite the disruptions of the Covid-19 pandemic and its impact on economies, the number of private equity deals in Africa increased from 230 in 2019 to 255 by 2020.

He stressed that even in turbulent times, opportunities still abound in Africa.