Absa becomes first African financial institution to invest in Lendable's blended-finance strategy
Investment reflects growing participation of emerging-market capital in global asset-backed credit strategies supporting the real economy
Former African Development Bank Group President Dr Akinwumi Adesina has urged African leaders to prioritize industrialisation, technological innovation, and ethical leadership in order to strengthen the continent's competitiveness in the global economy. Adesina argued that Africa must shift from exporting raw materials to processing its resources, manufacturing goods, and building globally competitive industries.
He highlighted the potential of Africa's youthful population, natural resources, and expanding markets to drive economic growth, provided they are properly harnessed. Adesina emphasized the importance of equipping young people with relevant education, technical skills, and opportunities to create businesses and jobs. He also called for increased investment in universities, laboratories, computing infrastructure, and industrial ecosystems to enable Africa to participate in the global development of advanced technologies.
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