The President of the Africa Development Bank , Dr. Akinwunmi Adesina, has stressed the need to mobilise mutual funds and other Assets Under Management in the continent put at $1.8 trillion, to drive Africa’s development.
On how to mobilise capital to accelerate growth in the continent, he said: “Africa today has in its pension funds, sovereign wealth funds and insurance mutual funds $1.8 trillion of asset under management. “Africa Sovereign funds shouldn’t be invested in other sovereigns, it should be invested in Africa to create better wealth and better environment and quality of lives for our people. For me that is very important.”
He also said the AfDB was planning to launch what he described as a Women Financing Index for Africa. “So, those who lend more to women will get more resources from us and those who are lending more can get more resources at a discounted rate from the bank; so, you can lend more and have more impact for women.