Financial institutions

“We are designing renewed financial institutions for young people” –

Adesina said investment banks would help young people get capital, create jobs and create wealth for the younger generation.

He added that the plan would be finalized by June this year.

“We are designing renewed financial institutions that will invest in the businesses of young people and Ghana is one of the beneficiary countries,” he said.

“We have 13 countries and we expect to complete this design by the end of June. This will give youth-based businesses more opportunities to train, invest, create jobs for themselves and succeed on our beautiful continent.

“This project strengthens the Affirmative Finance Action for Women in Africa (AFAWA) initiative, through which the bank has made $420 million available to women’s businesses in 2021. This will be increased to $500 million in 2022.”

Adesina also said the bank had invested $1 billion in special agro-processing zones to limit food losses.

He said some countries such as Zambia, Nigeria, Ghana, Ivory Coast, Mauritius and Mozambique among others will benefit.

“These are the new investments that the bank is making and will be close to the areas that the farmers are producing, through water, infrastructure, logistics so that food and agricultural processing companies can be located close to the areas,” Adesina added.

“Processing companies in most countries are not located in rural areas because there is no infrastructure in rural areas.

“What we’re trying to do with the processing zones is reduce the cost of doing business for agribusinesses, so they can source from farmers and process them there.

“We lose too much food and the consequence is that we start complaining about carbon emissions, production and lack of impact, which affects the prices of food that eventually comes to market.

“Post-harvest losses are what I can describe as pouring water into a bucket that has holes in it, you have to stop the leak but in developed countries post-harvest losses are from too much food, you can’t eat it, you throw it away but in Africa, it’s not like that.