Friday, September 30, 2022

Insecurity no longer political issue but economic threat: AfDB President

“Terrorism is shrinking Africa’s investment space.”

• March 2, 2021
Akinwunmi Adesina
Akinwunmi Adesina

Akinwunmi Adesina, the President of the African Development Bank, has said recent terrorist and bandits are shrinking Africa’s investment space.

Banditry has worsened insecurity in Nigeria’s northern region already bedevilled by Boko Haram and ISWAP’s attacks. 

In February, Boko Haram terrorists launched multiple missiles on the outskirts of Maiduguri, killing several civilians.

In February, bandits attacked schools in Niger, and Zamfara, kidnapping scores of students, who were released after a series of negotiations and ransom paid.

These activities, according to Mr. Adesina, had adversely affected the growth of the continent’s economy.

Mr. Adesina, in a series of tweets on Tuesday, said insecurity had grown from being a political problem to an economic challenge.

He noted, “Terrorism is shrinking Africa’s investment space. Insecurity is no longer a political issue. Insecurity is an economic issue.”

“We must no longer decouple security and development. We must ensure security stability in Africa,” he added.

He suggested that “Africa needs new financial instruments to protect and secure investments in countries and regions against rising insecurity.”

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