Latest news with #SolomonQuaynor
Zawya
a day ago
- Business
- Zawya
From Strategy to Action: African Development Bank and Google Explore Africa's Artificial Intelligence (AI) Future at the 2025 Annual Meetings
One side event at the African Development Bank Group's ( 2025 Annual Meetings unpacked the use of Artificial Intelligence (AI) as a powerful tool to advance inclusive and sustainable development across the African continent. Held under the theme: 'The AI Revolution: How Will AI Support the Delivery of the African Development Bank's 2024–2033 Ten-Year Strategy and the Transformation of African Economies?', the 90-minute session convened leading voices from across sectors. The event was co-hosted with Google AI Research. At the heart of the discussion was the question: What will it take for Africa to become AI-ready? which was the central theme of the high-level panel discussion as part of the event. In his opening remarks, Solomon Quaynor, Vice-President for Private Sector, Infrastructure&Industrialization of the African Development Bank underscored the critical role of digital transformation in shaping Africa's future: 'AI is not a luxury—it's a necessity for Africa's competitiveness, resilience, and long-term prosperity,' he said. Caroline Kende-Robb, Senior Director of Strategy and Operational Policies at the Bank, framed the conversation within the context of the Bank's 2024–2033 Ten-Year Strategy ( She stressed that 'Investing in youth and data infrastructure is no longer optional—these are the foundations upon which Africa must build its AI future.' Her remarks echoed the strategy's call to leapfrog development through innovation, anchored in African realities and driven by African talent. Following her intervention, Abdoulaye Diack, Program Manager at Google AI Research Africa, highlighted the transformative potential of AI to address structural challenges and unlock progress in agriculture, education, climate adaptation, and public health. Diack emphasized the importance of contextualizing AI for African environments, warning that 'without local data and inclusive models, Africa risks becoming a passive consumer rather than an active creator of AI solutions.' Ibrahim Kalil Konaté, Côte d'Ivoire's Minister of Digital Transition and Digitalization, advocated for regional coordination and harmonized policy frameworks to enable responsible, cross-border implementation of AI technologies. Robert Skjodt, Group CEO of Raxio Group, focused on the critical need for robust digital infrastructure—especially local data centers—to support the scale and speed required for Africa's AI ambitions. Ousmane Fall, Director of Private Sector Transaction Support at the Bank, called for the development of bankable, scalable digital infrastructure projects that can attract long-term investment. Moustapha Cissé, CEO of Kera Health Platforms, and a respected pioneer in African AI research, stressed the need for ethical frameworks and AI systems that reflect African social, cultural, and healthcare contexts. Muthoni Karubiu, Chief Operations Officer at Amini, concluded the panel with a call to enhance data sovereignty, especially in the context of agriculture and climate action, by ensuring access to localized and context-specific environmental data. Harnessing the power of AI for Africa's success A strong consensus emerged across the panel - for Africa to harness AI effectively, it must focus on three foundational pillars: - Human Capital: Equip the next generation with AI literacy and professional expertise. - Data Infrastructure: Build the digital backbone for connectivity, storage, and secure data exchange. - Localized Data: Train AI systems on African realities, including languages, culture, and societal needs. With Africa holding just 1.3% of global data storage capacity and lagging in digital readiness, speakers agreed that the continent is at a crossroads and must urgently make the choice to invest now, or risk falling further behind. As Africa moves forward in artificial intelligence, the African Development Bank reaffirms its commitment to shaping a digital future that is inclusive, sovereign, and anchored in shared prosperity. For more information or to revisit this session, click here ( Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Zawya
3 days ago
- Business
- Zawya
African Development Bank Concludes Strategic High-Level Mission to Ghana, Identifies Five Key Areas for Transformational Partnership
Representatives of the African Development Bank Group ( have concluded a week-long high-level mission to Ghana, marking the institution's first major engagement with the country's new administration under President John Dramani Mahama. The delegation, led by Solomon Quaynor, the Bank Group's Vice President for Private Sector, Infrastructure, and Industrialization, conducted extensive consultations with key government ministries, public agencies, and private sector stakeholders, to align the Bank's support with Ghana's transformational development priorities. The agencies included the ministries of Roads and Highways; Communication, Digital Technology and Innovation; the Bank of Ghana; Volta River Authority; Ghana Ports and Harbors Authority; Ghana Infrastructure Investment Fund ('GIIF'); National Pensions Regulatory Authority; National Insurance Commission, Securities Exchange Commission, Ghana Stock Exchange, Ghana Export-Import Bank, Pension Corporate Trustees and Fund Managers, and various private sector companies. The delegation also cohosted a successful one-day roundtable discussion on "Unlocking Long-term Local Currency Finance for Infrastructure Development in Ghana," jointly organized with GIIF, the Private Infrastructure Development Group (PIDG), InfraCredit, Stanbic Bank, and PetraTrust, an event that laid the foundation for domestic capital mobilization initiatives. At the conclusion of the mission, the Bank identified five core areas for follow-up collaboration: Mobilizing Domestic Capital for Infrastructure Development The Bank will work with partners to establish a credit enhancement and de-risking facility to unlock part of Ghana's USD 5.2 billion cedis equivalent in pension assets for infrastructure investment. Drawing on successful models implemented through InfraCredit in Nigeria and Dhamana in Kenya and East Africa, the initiative aims to make local infrastructure, industrial, affordable housing and public-private partnerships assets attractive to institutional investors. Supporting the 24-Hour Economy Initiative The Bank expressed strong enthusiasm for Ghana's 24-Hour Economy concept, committing to provide comprehensive project preparation support, knowledge sharing on industrial parks development, and downstream financing solutions. Key focus areas include integrated industrial parks for textiles, garments, agro-processing and light manufacturing, and lake transport infrastructure all captured under the Volta Economic Corridor. Leveraging its continental expertise, the Bank will support Ghana's 'Big Push' infrastructure initiative through partnerships with the Ministry of Roads and Highways, Ghana Ports and Harbors Authority, and the PPP Unit at the Ministry of Finance. Strengthening Digital Transformation Foundation Collaborating with the Ministry of Communication, Digital Technology and Innovation, the Bank will support critical policy and legislative reviews focusing on data harmonization, data governance, and cybersecurity enhancement to establish a robust foundation for Ghana's digital transformation. Unlocking Private Sector Investment Opportunities The mission identified numerous investment opportunities across logistics, agriculture, agro-processing, energy, and other critical sectors, emphasizing the private sector's fundamental role in sustainable and inclusive economic growth. Quaynor highlighted the success of the mission. "The enthusiasm, vision, and commitment we have witnessed this week from Ghana's leadership and stakeholders give us great confidence in the transformational impact we can achieve together." He emphasized that all identified areas will be actively pursued, with the Bank firmly committed to working with all stakeholders to drive sustainable economic growth and development for Ghana, noting that the alignment between the government's priorities and the Bank's strategic capabilities creates an unprecedented opportunity for meaningful collaboration and impact. The mission concluded with firm commitments for follow-up action across all identified areas, emphasizing the Bank's dedication to forging concrete partnerships that deliver tangible results for Ghana's economic transformation and improved livelihoods for its people. Other members of the Bank's delegation were Eyerusalem Fasika, Country Manager for Ghana; Mike Salawou, Director of Infrastructure and Urban Development; Ousmane Fall, Director of Private Sector and Industrial and Trade Development; Akane Zoukpo Sanankoua, Manager, Capital Markets Development; Aude Apetey-Kacou, Regional NSO Lead, West Africa; Dennis Ansah, Regional NSO Lead, Nigeria and Dovi Amouzou, Advisor to the Vice President. Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media Contact: Kwasi Kpodo Communication and External Relations About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:
Zawya
31-01-2025
- Business
- Zawya
African Development Bank Partners with AXIAN Telecom to Accelerate Africa's Digital Transformation
The African Development Bank ( has approved a $160 million senior corporate loan to support AXIAN Telecom to expand digital access and financial inclusion in nine African countries. The loan will accelerate the modernization and expansion of AXIAN Telecom's network infrastructure, with a focus on 4G and 5G deployment; while also driving digital innovation in its operations, enabling them to expand to more countries. AXIAN Telecom, headquartered in Mauritius, serves 42.9 million mobile subscribers, 11.4 million data users, and 15.2 million mobile financial service users, positioning itself as a leader in Africa's digital transformation. A key focus of the funding is to address gender disparities in access to financial services. Over $10 million will be dedicated to empowering 22,000 women entrepreneurs in Madagascar through AXIAN's Mvola platform. Additionally, a $2.5 million grant will enhance financial literacy and credit access for 34,000 women businesses across Madagascar, Tanzania, and Senegal, enabling them to grow and transition into the formal economy. Highlighting the initiative's importance, the African Development Bank's Vice President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor, said: 'This investment reflects the African Development Bank's commitment to driving Africa's digital transformation and fostering inclusive growth. By supporting AXIAN Telecom's growth plan, we are bridging the digital divide, creating opportunities for millions across the continent, and fostering innovation.' Quaynor described the African Development Bank's support as part of a partnership to accelerate progress, advance financial inclusion—particularly for women—and drive sustainable development, adding, 'Together, we are building the infrastructure and ecosystems that will enable Africa to thrive in the digital age.' AXIAN Telecom CEO, Hassan Jaber said, 'We are honoured to partner with an organisation that shares our vision of advancing Africa's digital economy. The funding from the African Development Bank not only underscores the immense digital potential of the continent but also highlights the critical role of collaboration in driving sustainable development.' Jabaer emphasized that the support from the African Development Bank will build on the company's ongoing initiatives, such as expanding affordable internet access and fostering innovative solutions to bridge the digital divide. while aligning seamlessly with the recent transformation of our mobile businesses under the Yas brand ( « Yas represents our commitment to empowering a young, dynamic, and digitally connected population, embracing every opportunity with a resounding 'YES.' Together, this collaboration will help drive meaningful change across Africa's digital landscape, furthering our shared mission of digital and financial inclusion,' he added. The partnership aligns with the African Development Bank's 'Hi-5' development priorities, particularly "Industrialize Africa" and "Integrate Africa', which enhance connectivity, foster cross-border digital services, and support financial inclusion. Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:
