COVID-19: Africa’s economy shrinks by 3.4%, says AfDB

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COVID-19: Africa's economy shrinks by 3.4%, says AfDB
Dr. Akinwumi Adesina, AfDB President.

By Jimoh Babatunde

The President of African Development Bank, AfDB, Dr. Akinwumi Adesina, has said Africa’s economic growth this year will decline by 3.4%, because of the challenges of the Covid-19 pandemic.

While noting that these are tough times for bankers, Adesina said times like this need audacious leadership.

He spoke on Saturday at the 2020 Chartered Institute of Bankers of Nigeria (CIBN) Fellowship Investiture.

READ ALSO: AfDB partners FG, Microsoft on e-learning, registers 16,000

Akinwumi Adesina, who was inducted Honorary Fellow of CIBN alongside others, said: “Leadership from each one of us is needed in these challenging times of the coronavirus pandemic.

“So many lives have been lost. Economies have been devastated. Africa’s economic growth this year will decline by 3.4%.

“Globally, economies have gone into recession, as global trade, financial flows, investments, tourism and global supply chains have been…



Source: Vanguard Newspaper