{"id":151125,"date":"2026-04-19T15:27:28","date_gmt":"2026-04-19T15:27:28","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award"},"modified":"2026-04-19T16:02:18","modified_gmt":"2026-04-19T16:02:18","slug":"ex-afdb-chief-hails-east-african-innovation-award","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award","title":{"rendered":"Ex AfDB Chief Hails East African Innovation Award"},"content":{"rendered":"
\n

What You Need to Know<\/h4>\n

Dr. Akinwumi A. Adesina, former President of the African Development Bank, emphasized the need for a new investment narrative for Africa during his acceptance of the African Lifetime Achievement Award in Ghana. He highlighted the continent’s economic growth and urged global investors to recognize Africa as an investable reality, moving beyond outdated perceptions of risk.<\/p>\n<\/div>\n

Africa-Press – Tanzania. <\/strong> <\/span>DR. Akinwumi A. Adesina, the immediate past President of the African Development Bank (AfDB) Group, has called on global investors and African policymakers to lead a \u201cstructural revaluation\u201d of the continent\u2019s economic narrative.<\/p>\n

Speaking in Accra, Ghana, after receiving the prestigious African Lifetime Achievement Award, Dr. Adesina argued that the perception of Africa as a high-risk environment is an outdated \u201cmispricing\u201d of reality that continues to hamper the continent\u2019s capital-access potential.<\/p>\n

The event, held on April 11, 2026, brought together a formidable assembly of the continent\u2019s political and business elite, including Ghanaian President John Dramani Mahama and former Botswana President Seretse Khama Ian Khama. For Dr. Adesina, who steered the AfDB through a transformative decade ending in 2025, the recognition was less a celebration of the past and more a platform for a new, aggressive investment mission centered on the Global Africa Investment Summit (GAIS).<\/p>\n

Beyond Potential: The investable reality<\/b><\/p>\n

Dr. Adesina\u2019s address challenged the long-standing \u201cAfrica has potential\u201d trope, which he suggested has often served as a polite excuse for capital flight or hesitation. \u201cAfrica is no longer a promise. Africa is not potential,\u201d Dr. Adesina told the audience.<\/p>\n

\u201cAfrica is an investable reality. Africa is inevitable!\u201d He supported this stance with 2026 IMF projections, which indicate that Africa will record approximately 4.2% real GDP growth this year, maintaining its status as the fastest-growing region in the world for four consecutive years.<\/p>\n

This growth, he argued, is not a mere cyclical recovery from global shocks but a fundamental shift in the continent\u2019s economic architecture. \u201cAfrica is not just growing. Africa is compounding,\u201d he said, noting that the world is finally being forced to take notice of the continent\u2019s internal market strength and its transition from a commoditydependent region to one driven by services, manufacturing, and digital trade.<\/p>\n

The \u2018East African evidence\u2019<\/b><\/p>\n

For the East African business community, Dr. Adesina\u2019s speech provided a significant validation of regional innovation. He pointed to \u201cAfrican Champions\u201d as evidence of scale and resilience.<\/p>\n

Notably, he cited Kenya\u2019s Safaricom as hosting the world\u2019s largest mobile phone payment system, a feat he categorized alongside the MTN Group\u2019s global reach and the Dangote Group\u2019s massive petroleum refinery in Nigeria.<\/p>\n

\u201cThese are not exceptions,\u201d he emphasized. \u201cThey are signals of scale, resilience, and readiness.\u201d Among a number of high-profile attendees and legal experts interviewed by this writer at the ceremony was Eric Gumbo, Managing Partner at G&A Advocates LLC, a top-tier African law firm headquartered in Kenya.<\/p>\n

Commenting on the strategic weight of the address, Gumbo noted that the most striking takeaway for the regional business community was Dr. Adesina\u2019s assertion that \u201cthe question is no longer whether Africa will ascend… the question is whether the world is ready for the Africa that has already ascended.\u201d<\/p>\n

This sentiment, Gumbo suggested, reflects a new era where African enterprises are no longer seeking validation, but are instead presenting a competitive \u201calpha\u201d to global markets.<\/p>\n

Correcting the mispricing of risk<\/b><\/p>\n

A central pillar of Dr. Adesina\u2019s \u201cstructural revaluation\u201d call focused on the disparity between Africa\u2019s natural wealth and the capital it attracts.<\/p>\n

He highlighted a staggering statistic: Africa holds roughly 30% of the world\u2019s known critical mineral reserves, yet it receives less than 5% of global investment flows into these sectors.<\/p>\n

He argued that this gap is not a result of inherent risk, but a failure of global markets to correctly price African assets.<\/p>\n

To address this, his new mission with GAIS\u2014cofounded with Margery Kraus of APCO Worldwide\u2014aims to connect sovereign wealth funds and pension managers with investment-grade African infrastructure.<\/p>\n

Supported by President Mahama, GAIS is designed to move away from the \u201caid\u201d model and toward institutional capital deployment.<\/p>\n

\u201cThis is not aid. This is not sentiment. This is not charity,\u201d Dr. Adesina stated firmly. \u201cThis is alpha.\u201d<\/p>\n

A decade of impact<\/b><\/p>\n

The Lifetime Achievement Award recognizes a career defined by massive scale. Under Dr. Adesina\u2019s leadership from 2015 to 2025, the African Development Bank\u2019s capital increased from $93 billion to a record $318 billion.<\/p>\n

This surge in financial firepower directly impacted the lives of 565 million people across the continent through the \u201cHigh 5\u2032\u2032 strategy\u2014Light up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa.<\/p>\n

Earlier in his career as Nigeria\u2019s Minister of Agriculture, he led a transformation that reached over 15 million farmers, a precursor to the systemic changes he would later implement at the continental level. In an emotional conclusion, Dr. Adesina dedicated the honor to his wife of 42 years, Grace, and his home nation, Nigeria for giving him the opportunity and platforms to serve the country, Africa and the world.<\/p>\n

He made it clear that while his tenure at the AfDB has ended, his service to the continent has not, noting \u201cServing Africa is a lifetime calling.\u201d<\/p>\n

He finally dedicated the award to Africa\u2014\u201cNot as she was. Not even as she is. But as she is destined to be\u201d.<\/p>\n

Dr. Akinwumi A. Adesina served as the President of the African Development Bank from 2015 to 2025, during which he significantly increased the bank’s capital and impact across the continent. His leadership focused on transformative initiatives aimed at improving the quality of life for millions of Africans, particularly through the bank’s ‘High 5’ strategy. The African Development Bank has played a crucial role in financing infrastructure and development projects across Africa, positioning itself as a key player in the continent’s economic growth.<\/p>\n

Source: African Development Bank Group<\/b><\/p>\n

Find more news and analyses on Tanzania<\/span> on the Africa Press<\/span> website<\/p>\n","protected":false},"excerpt":{"rendered":"

What You Need to Know Dr. Akinwumi A. Adesina, former President of the African Development Bank, emphasized the need for a new investment narrative for Africa during his acceptance of the African Lifetime Achievement Award in Ghana. He highlighted the continent’s economic growth and urged global investors to recognize Africa as an investable reality, moving […]<\/p>\n","protected":false},"author":84,"featured_media":151124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[8498,1803,4674,5339,1309,711],"class_list":{"0":"post-151125","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-all-news","8":"category-economy","9":"tag-african-development-bank","10":"tag-east-africa","12":"tag-innovation","13":"tag-investment","14":"tag-tanzania"},"yoast_head":"\nEx AfDB Chief Hails East African Innovation Award - Tanzania<\/title>\n<meta name=\"description\" content=\"Dr. Akinwumi Adesina urges global investors to recognize Africa's economic potential at the African Lifetime Achievement Gala\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ex AfDB Chief Hails East African Innovation Award\" \/>\n<meta property=\"og:description\" content=\"Dr. Akinwumi Adesina urges global investors to recognize Africa's economic potential at the African Lifetime Achievement Gala\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-19T15:27:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-19T16:02:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2026\/04\/sm_1776614374.033195.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1316\" \/>\n\t<meta property=\"og:image:height\" content=\"780\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ex AfDB Chief Hails East African Innovation Award\",\"datePublished\":\"2026-04-19T15:27:28+00:00\",\"dateModified\":\"2026-04-19T16:02:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award\"},\"wordCount\":1004,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2026\/04\/sm_1776614374.033195.jpg\",\"keywords\":[\"African Development Bank\",\"EAST Africa\",\"economic growth\",\"innovation\",\"INVESTMENT\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ex-afdb-chief-hails-east-african-innovation-award\",\"name\":\"Ex AfDB Chief Hails East African Innovation Award - 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