African Development Bank releases timetable to elect new president

African Development Bank releases timetable to elect new president

- The African Development Bank is set to hold a virtual meeting from 25 to 27 August

- One of the key items for discussion is the election of a new president of the bank

- The current president, Akinwumi Adesina, has been in office since 2015

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Briefly.co.za has learned that the African Development Bank (AfDB) will hold a virtual meeting from 25 to 27 August.

Details available show that key on the agenda is the election of a new president of the bank.

A report by classfmonline.com shows the series of meetings would include one involving the Board of Governors.

African Dev’t Bank releases timetable to elect new president

Akinwumi Adesina, President of the AfDB. Source: African Development Bank
Source: UGC

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Akinwumi Adesina has been the president of the AfDB since 2015 and is the first Nigerian to hold the office.

The special committee set up by governors of the AfDB cleared Adesina of any wrongdoing. The independent panel of three was headed by Mary Robinson, the former president of Ireland.

The committee noted that its findings were sent in on Monday, July 27, adding that it had considered the president’s submissions.

Adesina will be seeking re-election as the president of the respected bank again.

An earlier report by Briefly.co.za reported that the Minister of Finance, Ken Ofori-Atta, has called for deeper reform as Africa combats the outbreak of the coronavirus.

In his opinion, the coronavirus pandemic has undoubtedly had the greatest economic impact since World War II.

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Briefly.co.za learned that he added that Ghana expected to record a GDP growth of 6.8% in 2020 but is currently projecting a 1.2% growth.

Ofori-Atta noted that the deficit was jealously guarded and kept under 5% but it has currently increased to about 10%.

In other news, information available to Briefly.co.za shows that mobile telecommunications company, MTN, has revealed its intent to suspend operations in the Middle East.

The company is set to concentrate its plans on Africa as part of a strategy to simplify its portfolio and leave the Middle East in an organised manner.

Briefly.co.za understands that the company intends to scrap interim dividend under a blueprint in a bid to determine a strategy to combat the coronavirus.

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Source: Briefly.co.za

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