AfDB to invest $12bn in Africa’s power sector in 4 years

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Dr Akinwumi Adesina

President, African Development Bank (AfDB), Dr Akinwumi Adesina says the bank would invest 12 billion dollars
in the power sector in Africa in four years with the goal of leveraging on the aviation sector.

He said this while speaking with the News Agency of Nigeria (NAN)in Abuja.

Adesina said the aviation sector was very important to the continent but that it could not operate in the dark.

He said the sector was very important to Africa because it accounted for about 73 billion dollars in Gross Domestic Product (GDP) and created about 7 million jobs across the continent.

”Without electricity, you really cannot operate any effective and efficient airline industry and so this is one of the top priorities of the bank.

“We are investing in the power sector 12 billion dollars in the next four years with the goal of leveraging between 45 to 50 million dollars…

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