NewsExpress advert Yudala banner
AfDB President named 2013 African of the Year

By News Express on 09/11/2013

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 5,681


TUNIS, Tunisia, November 8, 2013/African Press Organization (APO)/ African Development Bank Group President Donald Kaberuka has been named 2013 African of the Year in recognition of his role in spearheading the Africa50 Fund to mobilize the financing of infrastructure projects on the continent.

The $50,000 award was announced Thursday evening in Addis Ababa during the African Media Leaders Forum. The prize is sponsored by Nigeria’s Daily Trust newspaper.

“[This award] is for his bringing to fruition the idea of domestically financed development,” Salim Ahmed Salim, Tanzania’s erstwhile foreign minister and former Secretary-General of the Organization of African Unity (current African Union), said at the forum.

The Africa50 Fund seeks to leverage infrastructure financing for transformational development projects from African central bank reserves, pension and sovereign wealth funds; the African Diaspora; and high net worth individuals on the continent.

The Fund was endorsed in May 2013 by African Finance Ministers during the Bank’s Annual Meetings in Marrakech, where Kaberuka underscored the critical role of infrastructure in Africa’s development. “The one thing which can really slow down the recent performance in its tracks is infrastructure,” he said. “No country in the world has been able to maintain 7% GPD growth and above (sustainably) unless the infrastructure bottleneck is overcome.”

In July, African institutions including the African Union Commission, UN Economic Commission for Africa, Regional Economic Communities (RECs), regional Development Finance Institutions (DFIs) and NEPAD Planning and Coordinating Agency endorsed the Africa50 Fund as the continent’s vehicle for facilitating large-scale mobilization of resources to unlock international private financing with a view to addressing Africa’s $45-billion infrastructure gap, according to some estimates.

The African Development Bank will play a lead role in the Fund, said Kaberuka: “It will be a vehicle which can build on the AfDB track record and financial strength as investor, financial engineer, attract local and international pools of savings, utilize smart aid and leverage that to up our funding of infrastructure. It will be a strongly rated instrument able to issue a bond of significance – a bond attractive to investors.”

The Africa50 Fund is a game-changer in the delivery of infrastructure, Slim Ahmed said Thursday, adding that Africa must take ownership of its development.

“We are proud to honour an idea whose time has come. Dr. Kaberuka has shown what Africa should do,” he said.

The award will be presented at a ceremony slated for January 15 in Abuja.

Last year’s African of the Year award went to former South African president Thabo Mbeki.

•Photo shows AfDB President Donald Kaberuka.

Source News Express

Posted 09/11/2013 8:17:38 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Sharia Court sentences man to be stoned to...

Ebola: Nigeria remains at risk —UNICEF medical expert...

NDDC appeals to Rivers to rescind revocation of...

Gombe Governorship Tribunal orders INEC to release documents...

Nigeria to tackle xenophobia with cultural diplomacy: Minister...

Katsina spends N300m on pilgrims accommodation in Mecca...

Boko Haram war: Military clears the air, washes...

Immigration rescues 131 children from traffickers

US firm slammed with $413m fine for bribing...

Nigerian pilgrim robbed in Madina

FG plans to create 1m jobs in 2016...

Lagos intensifies HIV/AIDS counseling, Agency deploys mobile HIV...

 

Latest News BREAKING NEWS: Famous Evangelist Billy Graham is dead Northern Senators’ Forum sacks Ex-Governor Adamu as Chairman 94 students reported missing after Boko Haram attack on Government Girls Secondary School in Yobe Nigerian bank investors lose N100bn in 2 days How I almost died after giving birth to my daughter — Serena Williams Protests in Ebonyi as gunmen kill ex-Speaker during political rally N650bn debt: DAPPMA gives FG 14-day ultimatum 10 senators face sanctions over elections order We’ll destroy Tel Aviv and kill Israeli Prime Minister if attacked — Iran Senate condemns drug abuse among Nigerian youths •Asks FG to establish rehabilitation centres across the country RRS smashes 6-man criminal syndicate Okonjo-Iweala appointed into Commonwealth high-level group

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (325,787 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (317,372 views) Shameless Genevieve Nnaji exposes breasts in public (254,024 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (208,431 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (194,490 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (187,349 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (162,908 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (146,231 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (140,163 views) Lagos plane crash: Journalist releases victims’ names (129,239 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (127,774 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (122,928 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business (2,897) Business Verdict (33) Columnists (803) Complaints & Requests (94) Enterprise & Opportunities (203) Entertainment (446) Features (549) Global Business Monitor (226) International (1,799) Interviews (143) Live Commentary (28) Love Matters (105) News (32,998) Opinion (883) Pidgin (10) Politics (4,510) Religion (681) Sports (1,438) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement