CBE's Governor: Africa enjoys a good location for investment, resources and competitive advantages

Hassan Abdullah, Governor of the Central Bank of Egypt and Chairman of the Board of Governors of the African Development Bank Group, said that Africa enjoys a good location for investment, especially with the many opportunities and resources, not only in terms of competitive advantages, but also in terms of the availability of human Capital which is the most important.

This came during his speech, on the third day, of the conference of the 58th annual meeting of the African Development Bank Group, in Sharm El-Sheikh, from May 22 to 26, under Supervision of President Abdel Fattah El-Sisi and the Central Bank of Egypt.

Abdullah added, "Our full focus should be on dealing with risks, and thinking about what can be implemented in different countries and continents, which will allow a proper financing for Africa."

It is worth noting that Egypt started its activities at the conference as the host country, entitled “Mobilizing Blended Finance to Facilitate Green Transformation in Emerging Economies” moderated by Aliou Maiga, Regional Director of the Financial Institutions Group in Africa at IFC.

Moreover, The conference will discuss a number of important topics and files, led by the high-level presidential dialogue on changing global financial structures and the role of multilateral banks.

The meetings will also witness the issuance of African Economic Outlook 2023 report on mobilizing private sector financing for climate and green growth in Africa, in addition to wide discussion sessions in the presence of leaders and officials from Egypt and African countries on benefiting from innovative financing tools to mobilize private climate investments in Africa.

The meetings witness key measures to achieve comprehensive growth and sustainable development in the continent, and the role of financial technology in launching sustainable and green finance.