AFDB To Invest $56 Billion In Creating Industries Across Africa

by AIT / 3 months ago / Business and Economy

The Africa Development Bank says about fifty six billion dollars will be invested in creating industries and markets to grow the GDP of Africa and provide employment opportunities for millions of unemployed youths on the continent.

The bank’s country director in Nigeria Ebrima Faal said 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 African Development Bank however says it will invest over fifty six billion dollars to build industries in Africa to fast track economic development.

The Africa business roundtable is also taking actions in the direction of growing Africa’s GDP as a new president takes over the organization.

If the assurances by the two institutions are anything to go by, unemployment in Africa could be reduced significantly as Africa will be able to compete favourably in the global economic space.

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