AfDB makes pitch for partnerships with Nordic businesses

At a webinar held Thursday by the Nordic-African Business Association, African Development Bank Vice President, Solomon Quaynor, made a case for strategic investment opportunities in Africa.

The digital webcast, organised by NABA, the Norwegian Ministry of Foreign Affairs, Scatec Solar and Africa Finance Corporation, was part of a day-long event aimed at reconnecting Nordic businesses with the continent.

The Nordic-African Business Summit has been hosted for nine consecutive years in Oslo – with more than 3,000 guests and 300 speakers from over 40 countries taking part so far.

Quaynor, who was joined by Paal Bjornestad, AfDB’s Executive Director for the Nordic countries, Ireland and India, addressed a virtual audience made up of Nordic business representatives, government, and private sector and interested individuals.

The bank’s mandate to spur sustainable economic development and social progress in Africa saw $9bn in commercial and concessionary lending in 2019, Quaynor disclosed, during his presentation on AfDB’s activities and priority areas.

The lending went towards its priority ‘High5s,’ across its key cross-cutting themes – mainstreaming gender, support to fragile markets, and climate-friendly projects. Twenty-five per cent was to the private sector.

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