The boss of Africa's biggest bank
Business Daily
BBC
4.4 • 796 Ratings
🗓️ 30 January 2023
⏱️ 18 minutes
🧾️ Download transcript
Summary
Ade Ayeyemi, the CEO of Ecobank - Africa’s biggest bank - speaks to presenter Peter MacJob about the economic woes facing much of Africa and explores the leadership and policy adjustments needed to turn the continents fortunes around.
In a candid and wide ranging interview Mr Ayeyemi says that African governments need to stop introducing subsidies and start collecting more taxes in order to manage their economies better.
Presenter/producer: Peter MacJob
(Photo: Ade Ayeyemi, CEO Ecobank. Credit: Getty Images)
Transcript
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| 0:00.0 | Love, Janessa, a brand new true crime podcast from the BBC World Service and CBC Podcasts. |
| 0:07.2 | It's a story about love, deceit and survival, and it's available now. |
| 0:12.2 | Find out more at the end of this podcast. |
| 0:18.1 | Hello, welcome to Business Daily on the BBC World Service. |
| 0:21.9 | I am Peter McJope. |
| 0:24.0 | Today we have a special interview with the CEO of Africa's biggest bank. |
| 0:28.7 | You cannot have a situation in which we have subsidy for almost everything |
| 0:33.8 | and expect economic outcome that's going to be efficient. No, he doesn't work that |
| 0:39.2 | way. |
| 0:40.1 | Adaiyeemi is the boss of EcoBank, the largest Pan-African bank operating in 306 countries. |
| 0:47.3 | We get his views on the economic adjustment required to turn Africa's fortunes around. |
| 0:52.4 | We need to understand the law of economies and put the right policies in place. |
| 1:00.4 | That right policies also emphasize productivity, low inflation, and also emphasize good institutions. |
| 1:12.4 | A day, we are experiencing a global economy. good institutions. Are they? |
| 1:13.3 | We are experiencing the global economic crisis right now. |
| 1:16.4 | Wherever you are in the world, the surge in the cost of living is a daily challenge. |
| 1:20.4 | There's inflation that's gone through the roof. |
| 1:22.8 | Africa remains the most affected by this global crisis. |
| 1:25.9 | Economic growth in sub-Saharan Africa has declined |
| 1:28.4 | from 4.1% in 2021 to 3.3%. Africa's biggest economy in Nigeria has witnessed a fall of its |
| 1:35.6 | currency denier to an all-time low against the dollar. Same thing for the Ghanaian city. Why is Africa |
| 1:42.4 | always at the receiving end? |
... |
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