Page 14 - Legacy Gala 2018

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Africa is rising,

and now is the Central to the development

of African economies is the

establishment of economic
time to invest. free-trade zones, reducing

unnecessary bureaucracy

which drains investment,

in addition to developing
The overwhelming majority
of us in the West have long “Poor Africa” the necessary institutional

had the idea that “Africa financial architecture
is poor” hard wired into has been the
our brains. That phrase needed to deliver on the
“poor Africa” has, for a long typical Western promise of a vibrant Africa.
time been synonymous

with a continent that has
seen its fair share of wars, response The African Development
poverty and corruption. Bank, established in 1964,

The colonial economic, to African
cultural and political is central to that vision.
legacy has seen many on challenges Over the last 50 years
the continent struggle to
come to terms with their throughout the we have seen the ADB

own independence, whilst invest US$47.5 billion
seeking to drive up common
standards of education, modern age. and supported 82,003

health and well-being. interventions. In 2003 it

received a triple ’A’ financial

rating with a reported
Today, in the 21st-century that has capital base of $32.4 billion.

changed dramatically, Africa is
experiencing the kind of economic
growth, Europe can only dream of.