Invest more in Africa, If you are not investing in Africa, you’re not in business - Adesina



 Invest more in Africa, African Development Bank President Akinwumi Adesina urges keen Irish business community at 7th Africa Ireland Economic Forum in Dublin. 


“If you are not investing in Africa, you’re not in business... Foreign direct investment from Ireland into Africa was $572 million at the end of 2020, representing only 0.05% of Ireland’s total net foreign direct investment... This is too low. Ireland should invest a lot more in Africa. Let’s set a target of 15% of Irish investments in Africa,” Adesina told his audience. 


Since joining the African Development Bank Group as its 81st shareholder in 2020, Ireland has shown steadily increasing interest in strengthening its economic ties with Africa. Speaking at the same forum last week, Minister of Foreign Affairs and Minister of Defence Simon Coveney talked about the country's deepening economic and cultural links with the continent. He noted the prospects for closer trading links, pointing out that trade between #Ireland and Africa would likely reach €5 billion by 2025. Adesina invited officials and private sector operatives to the next edition of the #AfricaInvestmentForum, taking place in Abidjan in November 2022.


More on the Bank's mission in #Ireland, including a meeting with Irish President Michael D. Higgins, who congratulated Adesina for his work on the recent establishment of the #AfricanPharmaceuticalTechnology

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