Tag Archives: African Development Bank

Notes from “Innovative Mechanisms for Maximizing Capital Flows to Africa”

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April 26, 2010
Washington, DC

On April 26, 2010, The Whitaker Group and the Hudson Institute’s Center for Global Prosperity convened a diverse group of global development stakeholders to discuss new strategies and initiatives to maximize capital flows to Africa at a lunch event sponsored by The Western Union Company.  African Finance Ministers, Ambassadors, US business and policy leaders, multilateral development bank officials and heads of emerging market funds gathered together to share best practices and innovative initiatives. Continue reading →

President of African Development Bank Applauds Resilience of the Continent in the Aftermath of the Financial Crisis

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Mr. Donald Kaberuka, President of the African Development Bank (AfDB), last Monday declared that Africa’s resilience during the recent global economic crisis had proven that macroeconomic reforms over the past two decades had successfully strengthened the continent’s economic foundations. Continue reading →

Moving Forward into AGOA’s Second Decade

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This week TWG helped to organize and to co-host two back-to-back events that brought together an amazing coalition of people from Africa, the US and beyond to plan the strategy for AGOA as it moves forward into its second decade, and to discuss ways to maximize capital flows to Africa and give the African Diaspora vehicles to use remittances to invest in Africa’s development. Continue reading →

“Leaders on the Cutting Edge of Change:” Remarks by Rosa Whitaker

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“Innovative Mechanisms for Maximizing Capital Flows to Africa”
April 26th, 2010
The Willard InterContinental Hotel, Washington, DC

 Opening Remarks by Rosa Whitaker

Good afternoon, Excellencies, honored guests, ladies and gentlemen. We are delighted that you could all join us today.  We have with us a host of senior US and African government officials, including Ministers of Finance, Ambassadors, and senior State Department advisors.  We also have several senior World Bank officials, and of course we are so pleased to welcome President Donald Kaberuka today. Continue reading →

The New Global Reality: Africans Lead the Way at the AGOA Forum

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Kenyan PM Odinga addresses the AGOA Forum. Source: KICC, 2009 AGOA 8th Forum.

The world has come to expect strong and dynamic leadership from the Obama administration.  In the campaign, they promised to bring change and new ideas to domestic and international policy and to redefine and recalibrate the US’s role in the world. At the 8th Annual AGOA Forum-the annual US-Africa Summit-held this week in Kenya, however, it was the African leaders who broke new ground. Continue reading →

Rosa Whitaker Joins High-Level Speakers at World Trade Organization’s Aid for Trade Conference

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wto-logoYesterday in Geneva, Rosa Whitaker, President and CEO of the Whitaker Group, joined World Trade Organization (WTO) Director-General Pascal Lamy, World Bank President Robert Zoellick, President Donald Kaberuka of the African Development Bank, Ministers of Trade from Africa and Asia, the heads of regional organizations such as ECOWAS, and leaders of the International Trade Centre and the United Nations Development Programme as a presenter at the WTO’s Second Global Review of Aid for Trade. Continue reading →

Uganda Update Spring 2009

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uganda-update-spring-2009In this issue:

  • Uganda set to be among Africa’s strongest economies in 2009
  • Uganda secures African Development Bank funding to improve local markets
  • MTN Uganda launches mobile money transfer service
  • Computer education initiative wins Intel award
  • Alliance for Green Revolution in Africa launches African Seed Investment Fund
  • GroFin to invest $20 million to support small businesses
  • Uganda poised to become business outsourcing hub Continue reading →

Trade-Led Growth and Development, Even in a Recession

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By Meg Dallett

Amidst the omnipresent news stories about countries and industries suffering in the global economic crisis, there’s good news coming out of East Africa:  according to the African Development Bank’s African Economic Outlook 2009, growth for the region is expected to be about 5.5% for this year.  This is much, much better than almost every other region in the world is expected to do. Continue reading →

Ugandan Economy to be among Africa’s Strongest in 2009

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A Ugandan coffee farmer harvests coffee beans. Coffee is Uganda's top export, earning $348 million in 2008.

Coffee is Uganda's top export, earning $348 million in 2008.

Uganda’s economy is expected to be among Africa’s strongest in 2009 with a growth rate of around 6% thanks largely to strong regional trade and continued demand for its agricultural exports, according to the African Economic Outlook 2009, published in May by the African Development Bank (AfDB), the Organization for Economic Cooperation and Development (OECD) and the United Nations Economic Commission for Africa (UNECA). Continue reading →

African Finance Officials Outline Strategy to Weather Global Economic Crisis

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Tanzanian Minister for Finance and Economic Affairs, Mr. Mustafa Mkulo

Tanzanian Minister for Finance and Economic Affairs, Mr. Mustafa Mkulo

African Finance Ministers and central bankers in Washington last week for the spring meetings of the World Bank and the International Monetary Fund (IMF) were cautiously optimistic that with careful fiscal policies at home and support from multilateral institutions and international donors, many African countries will be able to weather the global economic downturn and even emerge from it stronger than before. Continue reading →

Financing for Regional Transportation Links: A Move in the Right Direction

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Trade advocates had some good news recently: at a recent high-level financing conference in Lusaka, Zambia, international donors pledged over $1 billion to the North-South Corridor Initiative to upgrade transport links across Eastern and Southern Africa. Continue reading →

Uganda Update Fall 2008

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uganda-update-fall-2008-thumbAfrica moved one step closer to full economic integration in October when representatives from three regional trade blocs, including six Heads of State, agreed at a summit hosted by Ugandan President Yoweri Museveni in Kampala, to form a new cross-regional free trade bloc and customs union. The new bloc, to be comprised of the 26 member nations of the Common Market of Southern and Eastern Africa (COMESA), the East African Community (EAC) and the Southern African Development Community (SADC), will create the largest free trade area on the African continent with a market of over 527 million people and a combined GDP of $624 billion.

Continue reading →