Young Africans should be trusted
and supported to drive the continent’s industrialization
and supported to drive the continent’s industrialization
Busan, Korea, May 21, 2018 – The 53rd Annual Meetings of the African
Development Bank opened in Busan, Korea, on Monday with a call on African
Governments to create the right environment for the private sector to lead the
continent’s industrial revolution. Participants also advocated for a balance
between the role of the State and the private sector.
Development Bank opened in Busan, Korea, on Monday with a call on African
Governments to create the right environment for the private sector to lead the
continent’s industrial revolution. Participants also advocated for a balance
between the role of the State and the private sector.
Korea was
presented as a good model for industrialization which African countries can
learn from.
presented as a good model for industrialization which African countries can
learn from.
“Korea’s
example is incredible. Korea was as poor as any African country in the 1960s
with a low per capital income. Today, thanks to the determination of
its people and its commitment to industrialization, Korea is the 11th biggest
economy in the world, an example Africa
should learn from,” said African Development Bank President Akinwumi Adesina at
a media breakfast.
example is incredible. Korea was as poor as any African country in the 1960s
with a low per capital income. Today, thanks to the determination of
its people and its commitment to industrialization, Korea is the 11th biggest
economy in the world, an example Africa
should learn from,” said African Development Bank President Akinwumi Adesina at
a media breakfast.
Discussions
around the media breakfast table focused on the theme of the 2018 Annual
Meetings, “Accelerating
Africa’s Industrialization,” and the need to tell the great stories
of Africa – the story of a resurgent continent ready to take its rightful place
in the industrial world.
around the media breakfast table focused on the theme of the 2018 Annual
Meetings, “Accelerating
Africa’s Industrialization,” and the need to tell the great stories
of Africa – the story of a resurgent continent ready to take its rightful place
in the industrial world.
“If you look
at countries that have industrialized – China, South Korea, Singapore and many
others – the role of the State was clear. One of the things that I think we
need to take out of this conversation is that the State has a great role to
play in Africa’s industrial revolution, particularly in terms of industrial
policy, providing direction, support for infrastructure, and directing capital
to particular industries,” he stressed. “Ethiopia is a very good example.”
at countries that have industrialized – China, South Korea, Singapore and many
others – the role of the State was clear. One of the things that I think we
need to take out of this conversation is that the State has a great role to
play in Africa’s industrial revolution, particularly in terms of industrial
policy, providing direction, support for infrastructure, and directing capital
to particular industries,” he stressed. “Ethiopia is a very good example.”
Adesina
explained that industrialization was selected as the theme of the 2018 Annual
Meetings to further showcase what Africa can learn from a country like Korea.
explained that industrialization was selected as the theme of the 2018 Annual
Meetings to further showcase what Africa can learn from a country like Korea.
“There is
nowhere better than Korea to address this theme. Korea’s incredible success
over the last 60 years provides a perfect model to the African Development Bank
to redouble its efforts towards Africa’s economic development. Africa is a
tremendously blessed continent, but it needs to industrialize, create lots of
jobs, and be more competitive in the global market.”
nowhere better than Korea to address this theme. Korea’s incredible success
over the last 60 years provides a perfect model to the African Development Bank
to redouble its efforts towards Africa’s economic development. Africa is a
tremendously blessed continent, but it needs to industrialize, create lots of
jobs, and be more competitive in the global market.”
For Africa to witness true
agricultural transformation, technologies need to reach farmers to enhance
productivity. This was the message of the Leadership4Agriculture Forum, held on Day 1 of the meetings.
agricultural transformation, technologies need to reach farmers to enhance
productivity. This was the message of the Leadership4Agriculture Forum, held on Day 1 of the meetings.
“We cannot say we have
leadership when we still have 65 percent of the land in Africa uncultivated. We
must develop solutions to agriculture and ensure that the sector can grow to a
US $1-trillion business,” Adesina said.
leadership when we still have 65 percent of the land in Africa uncultivated. We
must develop solutions to agriculture and ensure that the sector can grow to a
US $1-trillion business,” Adesina said.
Participants in Monday’s
Leadership4Agriculture session included Ministers and key
partners involved in the development of agricultural industrialization of the
continent. They emphasized the need to
enhance the competitiveness of Africa’s agriculture sector and to develop
industrial value
chains required to power the
growth of the sector to a world-class industry.
Leadership4Agriculture session included Ministers and key
partners involved in the development of agricultural industrialization of the
continent. They emphasized the need to
enhance the competitiveness of Africa’s agriculture sector and to develop
industrial value
chains required to power the
growth of the sector to a world-class industry.
Mima Nedelcovych,
President and Chief Executive, Initiative for Global Development, said the African
agriculture sector required efforts to improve its competitiveness and called
for reforms to ensure that low-interest rate lending is available to the agriculture sector.
President and Chief Executive, Initiative for Global Development, said the African
agriculture sector required efforts to improve its competitiveness and called
for reforms to ensure that low-interest rate lending is available to the agriculture sector.
“We have to take action as
well as talk. Talk is important, but we also want to take people to task,” said
Jennifer Blanke, the Bank’s Vice-President for Agriculture, Human and Social
Development, on moving past discussing
agricultural challenges to executing solutions for them.
well as talk. Talk is important, but we also want to take people to task,” said
Jennifer Blanke, the Bank’s Vice-President for Agriculture, Human and Social
Development, on moving past discussing
agricultural challenges to executing solutions for them.
How
to leverage the continent’s youth to accelerate economic prosperity through
industrialization was the focus of a session on “Bridging innovation and
industry: African youth solving continental challenges.”
to leverage the continent’s youth to accelerate economic prosperity through
industrialization was the focus of a session on “Bridging innovation and
industry: African youth solving continental challenges.”
Badr
Idrissi, a young Moroccan industrialist, co-founded ATLAN Space, a start-up
that uses artificial intelligence and drone technology to solve some
socio-economic problems. The innovation has helped Morocco to effectively fight
illegal fishing.
Idrissi, a young Moroccan industrialist, co-founded ATLAN Space, a start-up
that uses artificial intelligence and drone technology to solve some
socio-economic problems. The innovation has helped Morocco to effectively fight
illegal fishing.
“They
say that artificial intelligence is not meant for Africa. We are here to prove
that wrong,” Idrissi said.
say that artificial intelligence is not meant for Africa. We are here to prove
that wrong,” Idrissi said.
Idrissi
used his 12-year international work experience at Microsoft and Nokia to
develop and provide tech solutions, which have created employment for several
young Moroccans.
used his 12-year international work experience at Microsoft and Nokia to
develop and provide tech solutions, which have created employment for several
young Moroccans.
In
Kenya, a young banker, Lorna Rutto, quit her job to co-found EcoPost, a social
enterprise that has created thousands of sustainable jobs for people in
marginalized communities, in addition to conserving the environment.
Kenya, a young banker, Lorna Rutto, quit her job to co-found EcoPost, a social
enterprise that has created thousands of sustainable jobs for people in
marginalized communities, in addition to conserving the environment.
“I
was inspired by what I thought was going wrong in my community. Trees were
being cut down and plastic waste was all over the place,” Rutto told the
session. “It was very scary for me to resign a good bank job, but I had to
fulfil my ambition as an entrepreneur. That was when I developed the idea that
waste was a resource and not a thing to throw away.”
was inspired by what I thought was going wrong in my community. Trees were
being cut down and plastic waste was all over the place,” Rutto told the
session. “It was very scary for me to resign a good bank job, but I had to
fulfil my ambition as an entrepreneur. That was when I developed the idea that
waste was a resource and not a thing to throw away.”
EcoPost
has so far transformed over 3 million kilograms of plastic waste into plastic
lumber, saved over 500 acres of forest and helped mitigate climate change in
Kenya.
has so far transformed over 3 million kilograms of plastic waste into plastic
lumber, saved over 500 acres of forest and helped mitigate climate change in
Kenya.
Adesina
commended the young entrepreneurs for converting challenges into opportunities
and urged them to continue representing the industrialization of Africa.
commended the young entrepreneurs for converting challenges into opportunities
and urged them to continue representing the industrialization of Africa.
“Young
people are not just the future of Africa, they are the present,”
said Adesina. “They represent entrepreneurship and
energy. This must be nurtured, harnessed and scaled up to propel Africa’s industrial
revolution and the Bank is here to harness that.”
people are not just the future of Africa, they are the present,”
said Adesina. “They represent entrepreneurship and
energy. This must be nurtured, harnessed and scaled up to propel Africa’s industrial
revolution and the Bank is here to harness that.”
Media contacts:
Olivia Ndong Obiang, Principal Communication
Officer, o.ndong-obiang@afdb.org
Officer, o.ndong-obiang@afdb.org
Emeka
Anuforo, Communication Officer, e.anuforo@afdb.org
Anuforo, Communication Officer, e.anuforo@afdb.org
For more information on the 2018 Annual
Meetings, visit: www.afdb.org/am
Meetings, visit: www.afdb.org/am
#AfDBAM2018
