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The African Development Bank (AfDB) group President Dr. Akinwumi Ayodeji Adesina, yesterday highlighted Africa's resilience and economic growth at the AfDB annual meeting in Nairobi. This is despite challenges such as climate change, geopolitical tensions, and debt. Africa's GDP grew by 3.1% last year and is projected to reach 4.3% next year. The AfDB is driving initiatives to mitigate the impact of global crises, including a $1.5 billion facility for food production to combat the fallout from the Russia-Ukraine conflict. Emphasizing self-sufficiency, the AfDB focuses on infrastructure development, green energy, and industrial manufacturing to boost economic transformation and reduce poverty. Collaborative efforts, like the New Deal on Energy for Africa, aim to connect 300 million people to electricity by 2030. Dr Akinwumi stressed the need for strong infrastructure, regional connectivity, and industrial policies to harness the potential of the African Continental Free Trade Area and drive sustainable growth. Photo courtesy: AfDB group

The Foresight Africa 2025-2030 report, as articulated by Ms. Ahunna Eziakonwa, offers a critical lens through which we can view Africa’s journey towards the Sustainable Development Goals (SDGs). The report underscores a significant and often overlooked truth: the SDGs are interconnected, and their success depends not just on isolated efforts but on a holistic, synergistic approach that recognizes the interplay of social, economic, and environmental factors. Africa’s progress on the SDGs over the past decade is commendable, but as highlighted, it is evident that accelerating progress requires more than fragmented efforts. We must embrace the synergies among the goals, where progress in one area catalyzes advancements in others. For example, investing in quality education (SDG 4) can have a direct impact on gender equality (SDG 5), economic growth (SDG 8), and even environmental sustainability (SDG 13). This holistic approach is particularly crucial in Africa, where challenges like poverty, inequality, and climate change require integrated solutions. Moreover, partnerships play an indispensable role in this process. African countries, with their diverse ecosystems and unique challenges, need tailored solutions, but these solutions must be aligned with the global SDG framework. This calls for effective collaboration not just at the national level but also with international organizations, the private sector, and local communities. The role of data, such as the 2024 SDR data referenced in the report, is paramount in measuring progress and ensuring that strategies are adaptive and evidence-based. Ultimately, the path forward requires a shift in mindset—a transition from viewing the SDGs as individual silos to understanding them as a complex, interwoven network where collective action can drive transformative change. As we strive to “get the SDGs back on track” in Africa, let’s focus on the power of collective impact, leveraging synergies, and fostering partnerships that will lead to sustainable, inclusive growth for all. I encourage all stakeholders to read the full report and engage with the insights shared, as this is a call to action for each of us to contribute meaningfully towards Africa’s SDG journey. #SDGs #SustainableDevelopment #Africa #ForesightAfrica #GlobalGoals #PartnershipForGoals #Transformation #InclusiveGrowth

African Leaders Rally for Record World Bank Funding to Tackle Climate Crisis African leaders urge wealthy nations to pledge unprecedented contributions to the International Development Association (IDA), a vital facility of The World Bank . President William Ruto of Kenya led the appeal, stressing the urgent need for enhanced funding to address the dual challenges of development and climate change gripping the continent. The proposed target of $120 billion, to be pledged at a conference in Japan later this year, signifies a critical response to Africa's escalating economic instability and climate emergencies. Ruto highlighted the devastating impact of extreme weather events, including floods and droughts, highlighting the pressing need for collective action. If realized, this funding boost would mark a historic milestone, surpassing the previous fundraising record of $93 billion in 2021. The IDA's role in providing low-interest loans to 75 developing nations, over half of which are in Africa, underscores its significance in driving essential investments in energy, healthcare, agriculture, and infrastructure. With a commitment to streamline lending processes, the World Bank aims to enhance efficiency and expedite the delivery of funds to beneficiary nations, ensuring a more impactful response to pressing global challenges. #WorldBank #ClimateCrisis #AfricanDevelopment #IDA21 #AfricaHeadsOfStateSummit 𝑃ℎ𝑜𝑡𝑜 | 𝐻.𝐸 𝑊𝑖𝑙𝑙𝑖𝑎𝑚 𝑆𝑎𝑚𝑜𝑒𝑖 𝑅𝑢𝑡𝑜 𝑜𝑛 𝑋, 𝐴𝑡 𝑡ℎ𝑒 𝐼𝐷𝐴 𝐴𝑓𝑟𝑖𝑐𝑎 𝐻𝑒𝑎𝑑𝑠 𝑂𝑓 𝑆𝑢𝑚𝑚𝑖𝑡

How to get the #SDGs back on track in Africa? In this recent report #ForesightAfrica 2025-2030, building on the 2024 SDR data, Ms Ahunna Eziakonwa, United Nations Assistant Secretary-General and Director of UNDP Africa, reflects on Africa’s progress on the SDGs over the past decade and provides a nuanced analysis of where the region stands in order to explore viable strategies for accelerating progress. 🔹 Key message is clear: ‘Instead of chasing individual SDGs in isolation, African countries and their partners must harness the powerful, mutually reinforcing synergies among the goals.’ Access the full Foresight Africa 2025-2030 report via https://lnkd.in/edrBcBSM and The 2024 Sustainable Development Report via https://lnkd.in/eqiKbGH The Brookings Institution, #UnitedNations, #UNSecretary-General, United Nations Development Programme (UNDP), Sustainable Development Solutions Network

President Oramah, H.E. Dr Monique Nsanzabaganwa, Deputy Chairperson of AUC, Dr. Roger W. Ferguson, Jr., former Vice-Chair of Federal Reserves USA and Dr. Yemi Kale, Group Chief Economist of Afreximbank; launched the 2024 African Trade Report titled, ‘Climate Implications of the AfCFTA Implementation’. Africa accounts for 3% of carbon, yet bears the brunt of climate change. The report therefore assesses the relative impact of the AfCFTA on carbon emissions in Africa. AfCFTA has the potential to accelerate growth and promote structural transformation of #GlobalAfrica and serves as an important vehicle to creating wealth and prosperity for all Africans. The report also encompasses the maiden edition of Afreximbank’s African Trade and Economic Outlook titled, ‘A Resilient Africa: Delivering Growth in a Turbulent World’. View the full report here: https://lnkd.in/eAxpCGuV #GlobalAfrica #AAM2024 #ACTIF2024 #GlobalAfricaProsperity #OnePeopleSharedAspirations

A New Era has dawned for Africa! At #COP29 in #Baku, #Azerbaijan, we witnessed a significant milestone with the launch of a new multilateral #ClimateInvestmentFund capital market mechanism, introduced by UK Prime Minister #KeirStarmer and African Development Bank Group President #AkinwumiAdesina. This fund will be listed on the #LondonStockExchange, further solidifying London’s position as a global hub for green investment. President Adesina emphasised that this initiative is expected to unleash the leveraging power of multilateral development institutions, raising tens of billions of dollars to support vital #climatechange actions across Africa. This launch represents not just an opportunity for financial growth but a commitment to sustainable development and resilience in the face of climate challenges. A new era has indeed dawned for Africa, where innovative financing mechanisms empower us to tackle pressing environmental issues and foster economic growth. Together, we can build a greener future for our continent and ensure that Africa plays a pivotal role in the global response to climate change. #ClimateFinance #SustainableDevelopment #GreenInvestment #Africa #COP29

#Africa is central to the worldwide mission to eradicate poverty on a livable planet, accounting for over 70% of IDA's global commitments. (The World Bank) The IDA for Africa Heads of State Summit is currently taking place in #Kenya. African governments, civil society, and youth will examine the key priorities for financing in Africa and push an ambitious financing replenishment of IDA21, the current IDA replenishment cycle. “With an historically large IDA replenishment, Africa can become an even stronger contributor to global prosperity and progress. This is a moment of incredible opportunity for Africa and for the world, to not just imagine a better future, but to build it for people and for the planet. Let’s not waste it,” say Mavis Owusu-Gyamfi (Vice President, African Center for Economic Transformation (ACET)) & Ndidi Okonkwo Nwuneli (CEO, The ONE Campaign) for African Business Magazine. In the article on their expectations for the summit they stress the importance of meeting the challenges and opportunities of the growing continent, among other things: https://lnkd.in/d3U25pGN We believe that joining forces in dialogue is key: At our Circle “Adapting the Global Financial Architecture: Leveraging #IDA for Multilateral Solutions” with partner The World Bank, we discussed the need to reform the Global Financial Architecture with a particular focus on the replenishment of #IDA21.

Please join our panel discussion at the @AfDB_Group Annual Meetings: "What is the role of the African Development Bank in unlocking a just and equitable transition across Africa?" on 28 May, 4pm - 5.30pm Kenya/1pm - 2.30pm UTC Sign up here to join in person or to receive a virtual link: https://bit.ly/4azrwLV This will be a moderated discussion: what reforms are needed in the AfDB Energy policy to align support for a just and equitable transition in Africa. Guiding questions: 💡 In light of the misaligned support that flows from some contributor countries, what can African stakeholders do to promote alignment with the Paris Agreement and just transition principles, particularly through the AfDB? 💡 How can the AfDB financial support better target the SDGs in Africa? 💡 What specific policies need to be reformed to allow the AfDB to better target the SDGs. How can the AfDB better integrate considerations of debt levels and debt sustainability in its support to African countries? #AFDBAM2024 #TheAfricaWeWant #StopFundingFossils Power Shift Africa Oil Change International Don't Gas Africa The Climate Reality Project Climate Action Network International Christian Aid Kenya Augustine B Njamnshi Pan African Climate Justice Alliance PACJA Strategic Youth Network for Development : SYND GHANA Action Solidaire International Fran Witt

We can't Decarbonize a System that hasn't been Decolonized Yet - Fadhel Kaboub فاضل قابوب Weekend reads The Just Transition in Africa report takes a pan-African perspective by addressing the continent’s shared structural challenges—such as dependency on extractive industries, weak energy infrastructure, and external financing constraints—while emphasizing the need for regionally tailored solutions. It critiques one-size-fits-all approaches imposed by global institutions and calls for African-led, context-specific pathways that prioritize social equity, economic diversification, and climate resilience. However, it could further strengthen its pan-African outlook by deepening discussions on regional cooperation, trade integration (e.g., AfCFTA), and collective bargaining power in global climate negotiations. UNDP African Development Bank Group #FairTransition #SustainableFutures #JustTransitionAfrica #AfricaClimateJustice #PanAfricanTransition #AfricanSolutions

The United Nations Development Programme UNDP the United Nations Economic Commission for Africa ECA), and the African Development Bank Group Bank (AfDB), presented today the 2024 Africa Sustainable Development Report (ASDR), at an event held on the margins of the UN High-Level Political Forum for Sustainable Development in New York. Scaled-up access to concessionary development financing, strengthened climate information and early warning systems, and economic reforms are amongst the key recommendations raised in the new ASDR, titled “Reinforcing the 2030 Agenda and Agenda 2063 and Eradicating Poverty in Times of Multiple Crises: The Effective Delivery of Sustainable, Resilient and Innovative Solutions.” The report provides an in-depth review of African countries progress towards five sustainable development goals and their 32 targets to meet the 2030 Agenda and the African Union 2063 Agenda. The five SDGs under review are: ending poverty (Goal 1); eliminating hunger (Goal 2); combating climate change (Goal 13); promoting peaceful societies (Goal 16) and strengthening global partnerships (Goal 17). The research shows that Africa is on track to reach only less than three of the 32 targets assessed in this report (ASDR-2024) and that setbacks have been recorded for 8 of them, with slow progress or status quo registered for the remaining targets.