Sidney Yankson (CEO) attends a special presentation by the African Development Bank, the African Economic Outlook 2014, at New York University

Sidney Yankson (CEO) was invited to attend a special presentation by the Africa Development Bank (ADB) on 13 October 2014. The main theme of the evening was the global value chains and Africa’s industrialisation.

The event took place at New York University Africa House an interdisciplinary institute devoted to the study of contemporary Africa, focusing on economic, political, and social issues on the continent. The Africa Development Bank was founded in 1964 and has fifty-three African country shareholders. Their mission is to promote sustainable economic growth and reduce poverty in Africa.

Sidney commented that, “The ADB’s report provides a fantastic overview of the opportunities in Africa today.  Most of the countries they review have projected annual GDP growth in excess of 7%. That is phenomenal.

The ADB suggested that there are challenges to overcome, but in the long term African countries and companies will prevail.

The NYU professor suggested that Africa is resilient and will bounce back from the current Ebola crisis.

Therefore, the future looks bright, but there will be challenges.”

Besides the ADB special presentation, Sidney has attended a few other conferences whilst in New York and Washington. On 15 October Sidney was at a meeting in Washington DC discussing commercially operating minigrid systems with the US State Department, USAID, World Bank and the UN Foundation. The meeting allowed participants to recap on the High Impact Opportunity initiatives, membership and co-ordination. There were discussions about focusing on High Impact Initiatives and the upcoming input from DFID, African Development Bank and the World Bank.

Sidney will attend a further event on the 16-17 October that will comprise of a workshop focusing on proven private sector business models that are already in operation and leading the way in mini-grid development.