News

A 2nd Term for a Champion of African Energy, Entrepreneurs and Everyday Africans

News
April 20, 2020
  • The African Energy Chamber supports the re-election of Dr. Akinwumi Adesina for a second term as President of the African Development Bank.
  • Under his leadership, electricity access and sustainability have been key to the bank’s financing and development strategy.
  • AfDB must understand that it is a free enterprise system based on the values of individual initiative, hard work, risk innovation and profit that will build our continent and help us achieve economic empowerment, become self-sufficient and walk away from aid. Mr Adesina represents the future.

The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, is running for a second term. The African Energy Chamber has from time to time disagreed with the AFDB, but we believe it is a force for good in Africa and we have seen a lot of changes under Dr Adesina. The African Energy Chamber endorses and supports the candidacy of this champion for energy in Africa, based on a sterling record in his first term, and his prioritizing of electricity access as a pillar of the bank’s activities. Energy poverty is a challenge and he is the best suited person to confront this challenge.

Dr Adesina brought strong experience of private-sector led growth and wholesale reform from his successful tenure as Nigeria’s minister of agriculture from 2011 to 2015. As president of AfDB from 2015, he led comprehensive much needed reform programs and new initiatives that have put the bank at the forefront of African development financing on the global stage. Dr. Adesina has worked hard to bring an independent voice to the African Development Bank that believes in free markets principles and good governance. His fight for accountability and responsibility in all facets of the AFDB have brought positive changes not only to the AFDB but to everyday Africans and the results are impressive.

Key initiatives have included the decentralization of AfDB’s activities to regional offices, the launch of the Africa Investment Forum in 2018, and significant progress towards meeting the African Union’s 2063 goals through the bank’s High 5 strategic priorities – one of which is ‘Light Up and Power Africa’. Through its work in this area, AfDB has helped bring power access to 18 million people.

The Africa Investment Forum, held for the first time in 2018 in Johannesburg, mobilized $38.7 billion of investment into Africa, and $40.1 billion in its 2019 edition.

“Dr. Akinwumi Adesina’s achievement is twofold. He has positioned and firmly established the African Development Bank as the primary actor in development financing in Africa, with a huge emphasis on energy and a reform-based, private-sector led approach. He has matched this with a commitment to putting people first.,” said NJ Ayuk, Chairman of the African Energy Chamber.

“For many years, the AFDB did not mean much to everyday Africans, the energy sector and African businesses.  Dr Adesina changed that and over the last few years, his uncanny ability to transcend and embrace Africa’s diversity has been a huge plus to the continent. The coalitions he has built with Americans, Europeans, Asians have all been for the benefit our continent and improving quality of life in a huge way for millions of people through investments in electricity access and its advocacy for energy sustainability.” Added Ayuk

Under Dr Adesina’s leadership, the AfDB has supported the building of renewable energy facilities. It has been a steady voice in promoting the responsible use of Africa’s energy resources and action on mitigating the impact of climate change on African economies.

“Africa should use what it has and not what it doesn’t have. We have limitless sunshine and great potential for wind, hydro and geothermal,” he said on the sidelines of the COP22 climate change conference in 2016. “We need a balanced energy mix. Some African countries have gas and coal, which can be used in a clean way, and they should use it.”

The challenges facing millions of Africans with from Covid 19, infrastructure deficit, energy poverty, transparency and economic diversification are greater than ever before, and Africa needs individuals like Dr Adesina in leadership positions to help the AFDB better serve this continent that many of us call home.

It is with careful consideration that the African Energy Chamber and the private sector supports another term for Dr. Akinwumi Adesina, a man of compassion, integrity, and action as President of AfDB for a healthier and a more hopeful Africa

God Bless Africa

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