President, African Development Bank (AfDB) Group, Dr. Akinwumi Adesina, has highlighted the importance of bridging international financial markets with African economies to unlock economic opportunities for the continent.
He made the statement during a courtesy visit to the United Bank for Africa (UBA UK) Limited office in London recently.
Dr. Adesina, a staunch advocate for Africa as the emerging global investment frontier, addressed common misconceptions about the continent’s investment risk. He cited a report by Moody’s Analytics, which found that Africa’s investment default rate over the last 14 years was only 1.7%. This figure is significantly lower than the default rates of other regions, such as Latin America (13%) and Eastern Europe (10%), challenging the prevalent perception of high-risk investments in Africa.
Reflecting on the longstanding partnership between the African Development Bank and UBA Group, which spans more than two decades, Dr. Adesina emphasized the importance of continued collaboration. The discussion focused on strategies for strengthening Africa’s financial systems and advancing sustainable economic development across the continent.
“Our relationship with UBA represents one of many key partnerships the African Development Bank has forged with financial institutions across Africa. Over time, our collaboration has deepened, driven by our shared goal of enhancing Africa’s economic landscape,” said Dr. Adesina.
In her remarks, Theresa Henshaw, CEO of UBA UK, highlighted the bank’s role in facilitating trade, investment, and aid flows into Africa. “Our core focus is to facilitate trade, investment, and aid flows into Africa, leveraging our deep understanding of the African financial landscape,” she explained.
The meeting also explored several key sectors relevant to the AfDB’s development agenda, such as agriculture, energy, women’s financial inclusion, and youth entrepreneurship.
Dr. Adesina specifically pointed to the Affirmative Finance Action for Women in Africa (AFAWA) initiative, which he designed and launched under the French G7 Presidency in 2019.
The program addresses the $49 billion financing gap faced by women-led businesses in Africa.
As of March 2025, the AfDB Group, through AFAWA, has approved $2.5 billion in financing, with more than $1.2 billion already distributed to women entrepreneurs across 44 African countries. The initiative has supported over 24,000 African women through financing and capacity-building programs.