AfDB Makes New Appointment, Assures Investment In Africa’s Energy Sector

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Yemisi Izuora

The President of the African Development Bank, AfDB, Akinwumi Adesina says the bank double efforts in its investment plan to help in Africa contain its lingering energy crises.

Adesina while reacting to the appointment of Amadou Hott as Vice-President, Power, Energy, Climate and Green Growth, of the bank said the bank is keen at accelerating its power project in Africa.

Amadou Hott appointment according to the Institution takes effect from 1 November 2016.

He will join the Bank’s senior management team bringing expertise from his position as the founder and chief executive officer of Afribridge Capital, an Africa-focused advisory and Investment Company, where he advises on power, energy, information, communications and technologies, mining and banking sectors.

Adesina, said: “Amadou Hott is a dynamic and well-tested executive known for delivering results.

“I am delighted Amadou will be joining our team. His diverse experience covering energy, infrastructure, finance, banking and investments will be very helpful as the Bank accelerates its investments in the power and energy sector to light up and power Africa.”

Hott in his reaction commented: “I am delighted to join the African Development Bank under the visionary and dynamic leadership of President Adesina. Nothing could be more exciting than helping to light up and power Africa.

“I look forward to working with the Bank and all partners to deliver on this critical agenda of universal access to electricity for Africa, through a balanced approach to assure the right energy mix, accelerate renewable energy investments, energy sector reforms and private sector investments.”

Only last week the Board passed the institution’s proposal to launch an Africa Investment Forum (AIF).

According to the AfDB, the AIF will not only be a meeting place for investors interested in Africa, but also a destination of showcasing bankable projects, attracting financing, and providing platforms for investing across multiple countries.

The Bank also stated the seminar will also serve as a unique forum for international business and social impact investors looking to transact and deploy funds in Africa.

The financial institution further mentioned that the AIF will act as an avenue for connecting investors with both public and private sector projects throughout the continent.

AfDB’s senior vice president, Dr Frannie Leautier, said: “The AIF will coordinate with other Africa investment fora and work to strengthen collaborative efforts to crowd-in necessary investment, and attract social impact financing to Africa.

“It will support AfDB regional member countries and potential investors through the provision of rigorous, authoritative and robust, business intelligence and analytical work on African’s competitiveness.”

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