A Specialized Agency of the African Union


Home | Media | Events | The 2018 Annual Meetings of the Boards of Governors of the African Development Bank Group

The 2018 Annual Meetings of the Boards of Governors of the African Development Bank Group

Busan, South Korea
21 May 2018
25 May 2018

The African Development Bank Group will hold its 53rd Annual Meeting of the Board of Governors from 21-25 May in Busan, South Korea. The Group is focusing on industrialising the continent which has long been deemed to be the panacea for Africa’s development problems. Though Africa has over the past two decades made strides in economic growth, it has not realized the same success with industrialisation which is commensurate to the needs of the continent. Rapid industrialisation is needed for Africa to really take off and fulfil its vast potential. This would see the continent increasing productivity in terms of technological advancement, manufacturing of raw materials and value addition which are still lacking in most countries within the continent. These will have the effect of insulating Africa from suffering huge loses which come as a result of the volatile prices of primary goods which make up much of Africa’s exports.

Africa has been encouraged to draw lessons from the South Korean development experience and with a host of South Korean firms and corporations already investing in Africa, it is imperative that the two share ideas and exchange knowledge in a bid to assist Africa onto the developmental path. 

The meetings will be attended by thousands of delegates which will include Heads of State, members of academia, public and private sector players and development strategic partners including the African Capacity Development Foundation. ACBF being a Specialised Agency of the African Union will be a key participant in the meetings as it has a lot to offer on the discussion table as well as a lot to learn. The Foundation will be represented at the meetings by the Executive Secretary Professor Emmanuel Nnadozie and Mr Bakary Kone, Director of the Resource Mobilisation, Strategic Planning and Partnerships Department.

Thomas Kwesi Quartey

ACBF has been granted the status of a specialized agency because of the potential to transform Africa through capacity development.

H.E. Thomas Kwesi Quartey, Deputy Chairperson, AU Commission
Erastus Mwencha

The recognition of ACBF as the African Union’s Specialized Agency for Capacity Development launches the beginning of a new era for capacity building by ACBF, which will require an appropriate level of political commitment and financial support from all stakeholders.

H.E. Erastus Mwencha, Chair, ACBF Executive Board
Lamin Momodou

The remarkable achievements ACBF has registered over the past 26 years is not by accident in our opinion. They have come through hard work, dedication, commitment, purposeful leadership, support from the member countries as well as productive partnership building.

Mr. Lamin Momodou MANNEH, Director, UNDP Regional Service Centre for Africa
Goodall Gondwe

Africa needs ACBF as much, probably more now, than at the time it was created in 1991.

Hon. Goodall Gondwe, former Chair of the ACBF Board of Governors and Minister of Finance – Malawi
Ken Ofori Atta

Ghana’s partnership with ACBF is a tremendous blessing for us and therefore the opportunity for Ghana to host the 26th ACBF Board of Governors Meeting is something that we treasure.

Hon Ken Ofori Atta, Chair of the ACBF Board of Governors and Minister of Finance - Ghana