Malabo Bulletin 01
This road crosses the towns of Djougou, Péhunco, Kérou and Banikoara. It is used by the high-capacity vehicles that move cotton from the fields to the region's 18 ginning mills. The cotton sector, a major employer, plays a key role in the Beninese economy, accounting for 45% of fiscal revenues exclusive of customs duties, 13% of national GDP and 80% of official export earnings. Some 60% of Benin's industrial fabric owes its existence to cotton. The cotton road, therefore, is significant to the country's economic and social development.
Experts say the African Continental Trade Agreement is a game changer for a single market across Africa, but concerns remain that barriers may not be removed to allow private businesses and companies to operate freely across borders. What is the opinion of the Bank’s private sector department?
The 15th replenishment of the African Development Fund (ADF) began on 20 March 2019 and will end with a pledging conference in November 2019. The ADF is the preferred source of funding for 70% of regional member countries: a successful replenishment will improve operations on the ground, and assist the decentralisation process.
How is the current ADF-14 turning out?
I am delighted to welcome you all to the Annual Meetings of the African Development Bank Group here in beautiful Malabo, Equatorial Guinea.
At these Meetings, our Boards of Governors review the activities of the Bank and the Fund during the previous financial year and provide direction and guidance for the next. They will make key decisions and conclusions. Significantly, they will also consider the meaning and application of regional integration within the Bank’s mandate as a catalyst of Africa’s socio-economic development.
It gives me great pleasure to warmly welcome you to the 2019 Annual Meetings of the African Development Bank Group here in the beautiful country of Equatorial Guinea.
In 2018, the fictional country of Wakanda in the blockbuster movie Black Panther was ranked fourth as the most mentioned ‘country’ in Africa during TV broadcasts, according to a recent study by the University of Southern California. Coverage of Wakanda far exceeded mentions about African business, travel, health, sports, or development. While the finding is amusing, it is a reminder of the significant challenge an integrated Africa faces in showcasing opportunities and the many transformational changes taking place on the continent.