Kenya’s Cabinet Secretary for finance, Prof Njuguna Ndung’u, has been elected the chairman of the Board of Governors for African Development Bank Group, taking over from Mr Hassan Abdalla, the governor of the Central Bank of Egypt. This provided an opportunity for Central Bank governors to discuss Africa’s challenges in attracting private sector financing and practical policies that governments can use to alleviate them. “The African Development Bank has a wide range of instruments that we can capitalise on to achieve the strategic African integration,” he said. The bank’s initiatives, programmes, policies, strategies and operations are expected to further mobilise affordable development financing that is key for resilience in the upcoming period. “I would like to thank Dr Akinwumi Adesina, President of the African Development Bank Group, and his team for their continuous efforts to support the development of our continent,” Prof. Ndung’u said.

Source: Daily Nation May 29, 2023 09:49 UTC