The immediate past President of the African Development Bank (AfDB), Akinwumi Adesina, is set to receive the prestigious African Lifetime Achievement Award for his outstanding contributions to Africa’s economic growth, agricultural development, and sustainable initiatives.

The award ceremony, organised by the African Heritage Awards, is scheduled for April 11, 2026, in Accra, Ghana. Former Ghanaian President John Mahama will formally present the honour in recognition of Adesina’s decades-long commitment to advancing the continent’s development agenda.

Described by the organisers as a visionary leader, Adesina’s tenure at AfDB is credited with driving major interventions in infrastructure, food security, and energy access, significantly improving the livelihoods of millions of Africans.

“Adesina’s leadership at the African Development Bank has left a lasting legacy of innovation, economic transformation, and sustainable development across Africa,” the organisers stated.

Other distinguished honourees at the event include Dame Marcella and Antoinette Monsio Sayeh, recognised for their remarkable contributions in their respective fields.

The African Heritage Awards have previously honoured notable African leaders, including former Nigerian President Goodluck Jonathan, Ngozi Okonjo-Iweala, and President Mahama, demonstrating the platform’s ongoing commitment to celebrating excellence and leadership across Africa.

The 2026 ceremony is expected to draw top dignitaries, policymakers, and development experts from across the continent, further cementing the awards as a key platform for recognising African achievement and inspiring future generations.

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Speaking during an exclusive interview published on the AfDB’s website, Adesina highlighted the continent’s pressing housing needs alongside its untapped investment opportunities. He emphasized that Africa, with 65% of the world’s remaining arable land and a youthful population of 477 million people under the age of 35, is poised for rapid economic growth and urbanization.

“Africa is the world’s fastest-urbanizing region. Housing demand will surge – approximately 56 million new homes need to be built, representing a significant market opportunity,” he stated.

Adesina also stressed Africa’s role in the global energy transition, citing its wealth of critical minerals such as lithium, cobalt, and copper, essential for clean energy technologies. To attract global investments and showcase these opportunities, the AfDB launched the Africa Investment Forum (AIF), which connects financial ecosystems across Africa, Europe, America, and Asia.

Major Achievements at AfDB
Reflecting on his tenure at the AfDB, which is set to end in May, Adesina noted that the Bank’s capital base has tripled under his leadership, rising from $93 billion in 2015 to $318 billion. He emphasized that the Bank has become a globally recognized institution, being named the world’s most transparent financial institution for two consecutive years.

The AfDB has also spearheaded initiatives such as “Mission 300,” developed in collaboration with the World Bank, to connect 300 million Africans to electricity. Additionally, the Bank mobilized $35 billion in 2023 despite global economic challenges.

Call for Fair Resource Distribution
Adesina criticized multinational corporations for failing to pay taxes in Africa, despite extracting the continent’s natural resources. He advocated for a reformed global tax regime to ensure African countries benefit fairly from their assets.

“When companies operate in Europe or the United States, they pay taxes there. Why shouldn’t they pay taxes in Africa?” Adesina questioned, adding that the AfDB supports nations with legal resources to strengthen tax systems and debt management.

The Bank has also launched the Green Infrastructure Alliance, aiming to mobilize $10 billion for eco-friendly development.

As the AfDB moves into its next decade with a strategy focusing on public-private collaboration, Adesina emphasized the importance of the private sector in addressing Africa’s development challenges.

“With innovative financing and strong partnerships, Africa can unlock its full potential,” he concluded.

The post Africa Needs 56 Million Homes to Bridge Housing Gap – AfDB President appeared first on Housing TV Africa.

Speaking at the 2024 Africa Investment Forum (AIF) Market Days in Rabat, Morocco, Adesina highlighted Africa’s transformative potential across multiple sectors, backed by compelling data that underscores its growing global significance.

Adesina pointed out that Africa’s food market is expected to reach $1 trillion by 2030, while infrastructure development demands at least $170 billion in annual investments. He underscored the rapid population growth, noting that by 2050, Africa’s population will double to 2.4 billion, equaling the current combined populations of China and India. This demographic explosion positions Africa as a key driver of global economic trends, with surging demand for consumer goods, digital services, and housing.

“Population is destiny,” Adesina stated. “By 2050, one in four people in the world will be African, creating unparalleled demand for products and services. The need for housing alone will transform into a $1.4 trillion investment opportunity, fueled by urbanization and demographic expansion.

Adesina highlighted Africa’s emerging dominance in the global energy transition. The continent is home to vast reserves of critical minerals essential for green technologies, including 95% of the world’s chromium, 90% of Platinum Group Metals, two-thirds of cobalt, and significant deposits of lithium, manganese, and graphite. These resources are vital for the growing electric vehicle and battery storage markets, which are projected to expand from $7 trillion in 2030 to $59 trillion by 2050.

Africa’s potential to advance from raw material supplier to a hub for value-added industries in critical minerals presents a transformative opportunity. Adesina cited the Democratic Republic of Congo’s lithium-ion battery precursor plant, which costs three times less to develop than similar facilities in the U.S., China, or Poland, as an example of Africa’s competitive edge in this sector.

The AfDB President also emphasized the continent’s attractiveness as a destination for green infrastructure investment. The Alliance for Green Infrastructure, backed by the G7 and spearheaded by the AfDB, aims to mobilize $10 billion for green projects. Adesina highlighted the bank’s innovative $750 million hybrid capital issuance, which was oversubscribed by eight times, demonstrating investor confidence in Africa’s potential.

Addressing perceptions of risk, Adesina debunked the myth that Africa is a high-risk investment destination. He cited data showing Africa’s default rate at just 1.9%, significantly lower than North America’s 6.6% and Latin America’s 10.1%. “Africa is not as risky as many think. The numbers tell a different story,” he affirmed.

The Africa Investment Forum, which aims to connect investors with opportunities, has already mobilized $180 billion in investor interest over its past five editions. Of this, $30 billion in transactions have reached financial closure, with deals worth over $15 billion originated in 2024 alone—a record-breaking achievement.

Adesina called on global investors to take advantage of Africa’s vast and diverse opportunities, urging them to support the continent’s ambition of becoming a global hub for green energy and industrial transformation. “Africa’s future is bright,” he concluded. “It is not a continent of risks but one of unmatched opportunities, and the time to invest is now.”

The AfDB remains committed to fostering sustainable development and accelerating economic growth, with initiatives that align with Africa’s long-term vision for prosperity and global relevance.

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