AfDB to invest $56 billion in Africa
The Africa Development Bank (AfDB) says about $56 billion dollars will be invested in Africa with the aim to fast track economic growth and also to provide employment opportunities for millions of unemployed youths across the continent.
The investment will be mostly to create industries and markets to grow the GDP, the bank’s country director in Nigeria Ebrima Faal disclosed this during the official inauguration of the new president of the Africa business roundtable in Abuja.
A World Bank survey published in 2017 indicated that the largest economies in Africa were projected to witness a steady pick-up in activity with growth rising to 3.2%.
The Africa business roundtable is also taking actions in the direction of growing Africa’s GDP as a new president takes over the organization.
Africa might witness a significant growth with a reduced unemployment rate if the investments are well put to use.