NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
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: 6,188


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

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
‘Obi’s revolution’ way out of Nigeria’s education woes...

FG to construct 6 ultra-modern prisons

Nigerian Air Force builds Regional Helicopter Maintenance Hanger...

FG launches special operation to tackle illegalities on...

Kogi, Anambra and Enugu at war over oil...

Desecration of Onuicha (Onitsha) Offala Festival by Chris...

Libya returnee dies 2 days after arrival in...

42 school children die from plague in Madagascar...

Jonathan hints at amnesty for Boko Haram, gives...

Olympics shocker: Siasia backs Dream Team quarter-final boycott...

Kaduna Governor spits fire, says those behind Kachia...

4 months to handover, APC still contesting Imoke’s...

 

Latest News $16b Power Project: Obasanjo dares Buhari Relocate your embassies to Jerusalem, CAN tells FG, other countries FG to launch new national carrier Dec 2018 Buhari praises Abacha; attacks Obasanjo, Yar’Adua, Jonathan’s administrations Army kills 68 bandits, recovers 17 motorcycles Only lazy Nigerians complain of hunger, Customs CG tells Buhari EFCC arraigns Rivers SSG, politician for N750m scam I was sacked for refusing to probe Atiku, Saraki — Special Presidential Investigator Activists declare May 28 National Day of Mourning and Remembrance Jukuns carpet Army Chief’s defence of collusion in Taraba killings FG raked in N5tn as federally collected revenue in 2016 — FRC Benue varsity raises alarm over alleged plot to disrupt academic activities

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (345,333 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (342,030 views) Shameless Genevieve Nnaji exposes breasts in public (273,432 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (224,797 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (205,224 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (202,841 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (176,965 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,259 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,208 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,468 views) Lagos plane crash: Journalist releases victims’ names (140,027 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,416 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (41) Business & Economy (3,149) Business Verdict (43) Columnists (853) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (497) Features (598) Global Business Monitor (274) International (1,968) Interview (149) Live Commentary (28) Love Matters (120) News (35,517) Opinion (959) Pidgin (10) Politics (5,046) Religion (743) Sports (1,516) Stock Watch (29) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement