From Femi Folaranmi, Yenagoa
The President of the Africa Development Bank (AfDB), Dr. Akinwumi Adesina, has commended Singapore for its huge investment in Africa.
Adesina, who gave the commendation at a panel discussion at this year virtual edition of the Africa- Singapore Business Forum (ASBF), expressed happiness that Singapore did not stop its investment in Africa despite the COVID-19 pandemic which ravaged the world.
He disclosed that this was evidenced in the signing of over 30 deals during the pandemic, while 16 had already been signed prior to the forum this year.
According to him, this has reinforced his firm belief that Singapore trusts Africa, which he considers as a great thing.
This year’s edition, which had OLAM as major sponsors as well as PwC and Standard Bank, also featured Singapore’s Senior Minister, Tharman Shanmugaratnam. Its opening session, which started on August 23 and rounded off over the weekend , also featured speakers, business leaders across the globe and panel sessions which addressed problems and opportunities in vital sectors such as manufacturing, urban planning, digital technology, innovation and sustainability.
The ASBF is a foremost platform for organizations and business leaders in Africa and Singapore to collaborate and synergise. It has stimulated investment, trade relations and thought leadership between Africa and Asia for over a decade.
An initiative of Enterprise Singapore (established to support trade and development into Singapore), which has united over 30 countries, the business forum has also enabled over 2000 businessmen to venture into new partnerships between the two dynamic regions.
Reports from the United Nations Conference on Trade and Development (UNCTAD) indicated that Singapore’s investments into Africa have moved from $17 billion to $20 billion.