According to him, the era of free money is gone.
Mr Chirwa stated, “Since 2000, the AfDB has invested over $8 billion in water infrastructure across 40 African countries, benefiting over 92 million people.’’
The commissioner expressed optimism that talks with the AfDB, World Bank, and Chinese firms would drive large-scale food production in the state this year.
Mr Adesina noted that the bank and its partners were supporting the Federal Government and implementing a $538 million programme for the development of SAPZ in seven states.
The initiative aims to reshape how international investors assess risk in African markets.
Mr Mutfwang said that the initiative would stimulate industrialisation and enhance business activities across the state.
Mr Urama said Africa’s currencies, including the naira, had depreciated sharply against the U.S. dollar, creating economic instability.
Researchers have reiterated trade’s crucial role in propelling resilience and ensuring inclusive growth on the African continent.
The ASDR 2024 report was unveiled on the sideline of the African Economic Conference in Gaborone, Botswana.
“African countries must tap into alternative financing mechanisms and utilise guarantee schemes to lower borrowing costs,” Ms Morsy advised.
