AfDB Electricity Access Strategy Wins Akinwumi’s 2nd Tenure Bid – African Energy Chamber

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The African Energy Chamber (AEC) has thrown its weight behind the second tenure bid of Nigerian’s Dr Akinwumi Adesina as President of the African Development Bank. 

The Chamber points out that under Akinwumi’s 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 our continent and help us achieve economic empowerment, become self-sufficient and walk away from aid. Mr Adesina represents the future,” a statement from the Chamber said yesterday.

AEC stated that although it disagreed with AfDB in times past, “but we believe it is a force for good in Africa and we have seen a lot of changes under Dr Adesina. The 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 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 has 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 ’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.

There was also the Africa Investment Forum, held for the first time in 2018 in Johannesburg, which 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 change on African economies.

Chibisi Ohakah

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