Category Archives: Africa Business

I Remain AfDB President – Adesina Confirms

An official statement from the African Development Bank (AfDB) President Dr. Akinwumi Adesina has revealed that Akinwumi has not stepped down from office.

Adesina, in the statement, said “the bank’s institutional framework is solid and efficient, adding that he stands by it”.

The statement reads: “In recent weeks and over the last few days especially, I have been overwhelmed by the tremendous support received from around the world. I have absolute confidence in the integrity of the Bank that I lead and its governance systems, rules and procedures.

“In spite of unprecedented attempts by some to tarnish my reputation and prejudice the Bank’s governance procedures, I maintain my innocence with regard to trumped up allegations that unjustly seek to impugn my honour and integrity, as well as the reputation of the African Development Bank.

“I sincerely appreciate the support of the Bank’s shareholders.

“At this time, I remain confident that ultimately and as one collective, the Bank will emerge stronger than before and continue to support Africa’s development drive. I draw great inspiration from my heroes, Nelson Mandela and Kofi Annan, whose lives have shown that through pain we grow. As Martin Luther King Jnr. once said, “the arc of the moral universe is long, but it bends towards justice.”

“I am confident that fair, transparent and just processes that respect the rules, procedures and governance systems of the Bank, and the rule of law, will ultimately prove that I have not violated the Code of Ethics of this extraordinary institution.

“I will therefore continue to work with each and every one of our shareholders to ensure that the African Development Bank maintains its hard earned global reputation; and that our credible and well-functioning institutional and governance systems are reinforced, as we collectively press on to fulfill the mission of our founder to accelerate and transform Africa’s development.”

The bank’s Board of Governors cleared him of the allegations after its ethics committee looked into the matter.

Trade Centre Launches Online Tool For Small Business

International Trade Centre (ITC) and the Amsterdam University of Applied Sciences have launched the first free online tool to provide analyses of more than 630 of Africa’s business-to-consumer marketplaces.

The Africa Marketplace Explorer addresses the lack of comprehensive information about marketplaces in more than 50 countries in Africa.

‘’This comprehensive set of data provides an important contribution for understanding how the development of e-commerce can be supported in Africa,’’ ITC’s Acting Executive Director Dorothy Tembo said during the launch of the tool at the United Nations Conference for Trade and Development’s eWeek.

‘’Data and analysis on local marketplaces is hard to come by or highly incomplete,’’ Ms. Tembo said.

‘’For entrepreneurs in Africa it is not obvious how to find information on how to sell goods online in a regional or neighbouring country, which marketplaces exist, whether they allow foreign firms and what the access requirements are,’’ she added.

“The world’s biggest marketplaces do not have a strong presence in Africa, which means there is more opportunity for local marketplaces. ITC wanted to take advantage of this and find ways in which online marketplaces could support African businesses”.

“Online marketplaces play a substantial role in including small and medium-sized enterprises in trade because they aggregate demand, provide safe payment solutions and facilitate logistics services. They also offer routes to market for women business owners and young entrepreneurs in Africa.” she explained.

The Africa Marketplace Explorer “provides data to the research community and substance to policy debates on e-commerce’’ both at the World Trade Organisation and at the level of the African Continental Free Trade Area – as well as to entrepreneurs,” Ms. Tembo said.