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The Interview

Akinwumi Adesina: Africa rising?

The Interview

BBC

News, Government, Politics

4.3537 Ratings

🗓️ 17 June 2024

⏱️ 23 minutes

🧾️ Download transcript

Summary

Stephen Sackur speaks to Akinwumi Adesina, President of the African Development Bank. He wants massive international financial backing to turn his continent into a global economic powerhouse. But amid chronic poverty, debt and climate threats, will Africa get the support it needs?

Transcript

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0:00.0

Welcome to Hard Talk from the BBC World Service with me, Stephen Sacker.

0:05.1

My guest today runs the African Development Bank, the multilateral financial institution,

0:11.6

which has one of the most important and challenging missions on earth to transform Africa

0:17.9

into a sustainable economic success story by way of global cooperation and support.

0:25.1

Akinwumi Adashina, a Nigerian economist and former agriculture minister, is in his second term at the top of the bank.

0:32.7

His stakeholders are the 54 countries in Africa and 27 non-regional countries, including the US, China and Japan,

0:41.3

all of them notionally committed to helping Africa emerge from poverty, debt and chronic underdevelopment.

0:49.4

Adashina is an incorrigible optimist.

0:52.1

He sees an Africa transformed in the 21st century,

0:55.9

becoming a global economic powerhouse, fueled by renewable energy, a young, rapidly growing

1:02.1

population and integration into international trading networks. It is an exciting vision,

1:09.5

but very far from current reality.

1:12.6

African nations are actually drowning in a mountain of debt.

1:15.6

There are few jobs for young people.

1:17.6

Climate change is already wreaking havoc,

1:20.6

and many countries in the rich world are preoccupied with problems much closer to home.

1:26.6

So is Akinwumiomi Adashina's positivity,

1:30.5

realistic or deluded? Well, he joins me now. Welcome to Hard Talk. It's good to see you, Stephen.

1:37.2

It's great to have you here. You need the world to believe in a bright African future. How's that going right now? It's going pretty well.

1:47.2

If you take a look at the African economic outlook we had from the African Development Bank,

1:51.6

the GDP growth rates of last year was 3.1%. This year, it's 3.7%. And next year it's going to be 4.3%.

1:59.6

Now, why that is important is that that is well above the global

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