Africa lacks bankable ideas to grow – AfDB president

The President of the African Development Bank (AfDB), Akinwunmi Adesina, says the continent does not lack money, but bankable ideas to grow. 

Adesina spoke in Abuja on Friday at the Second Veritas University Digital Innovations Exhibition and 12th Convocation Lecture.

Delivering the convocation lecture themed, ‘Africa: It’s Your Time’, the former Minister of Agriculture, said: “What Africa lacks is not money, what Africa lacks is lack of bankable ideas. Remember Money would always follow great ideas. Africa must accelerate investments in bankable ideas.”

He said creation of jobs in the continent would stop graduates from seeing traveling to Europe as the only option to achieve success in life.

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“One area that gives me a lot of concern is that our continent is not able to create jobs. The lack of opportunity for youths is why we see disturbing immigration in Europe, which has led to immigration crisis.

“The future of Africa’s youth is not in Europe, their future is not in America, their future is not in Latin America or Asia, their future is in Africa but Africa must grow in a way that is able to create robust growth and deliver quality jobs for its exceptional youths,” he said.

The Bishop of Sokoto Diocese of Catholic Church, Bishop Matthew Kukah, while addressing the graduates, said: “Your accomplishments not only mark a personal milestone but also bring joy to your parents and loved ones.

“As an institution, we take pride in your achievements and have confidence that you will be exemplary ambassadors of Veritas University wherever life takes you.”

Vice Chancellor of the university, Professor Rev Fr Hyacinth Ichoku, said since 2018, the institution’s undergraduate students enrollment had increased from 1200 to over 6000.