AFRICA HALL OF FAME

Guardians of African Excellence: The African Hall of Fame, as the custodian of history, celebrates impactful individuals who have left an indelible mark on the African continent, meticulously chronicling their groundbreaking achievements across borders.

The Asian Infrastructure Investment Bank (AIIB) plans to invest $1.5 billion in Africa as part of Mission 300, a program designed to expand electricity access to 300 million people across the continent by 2030.

 

The Beijing-based multilateral lender, which counts 19 African nations among its 110 members, has so far invested $2.48 billion in Africa. While its charter allows up to 15% of investments outside Asia, only about 5% currently go to non-Asian markets.

 

Rodrigo Salvado, AIIB’s director general for operational partnerships, said Africa is becoming a growing priority for the institution. “President Jin has been clear that investing one dollar in Africa does not mean investing one less dollar in Asia. It’s about leveraging and multiplying that investment,” he said.

 

AIIB is reviewing Mission 300’s project pipeline to identify opportunities aligned with its development goals. Salvado stressed that early funding will be crucial to help partners coordinate efforts and speed up implementation. The bank aims to allocate the $1.5 billion over the next three to four years.

 

Broader Strategy Beyond Belt and Road

 

China remains the AIIB’s largest shareholder with 26.6% of voting rights, followed by India (7.6%), Russia (6%) and Germany (4.2%). Although the bank is often linked to Beijing’s Belt and Road Initiative, Salvado emphasized that its governance structure is multilateral and consensus-driven.

 

Interest from Africa is rising, with Nigeria, Senegal and Tanzania considering membership. The renewed focus comes as global development finance faces tighter constraints, making efficient use of concessional capital more important.

 

Salvado noted that each dollar invested in project preparation can generate up to $80 in project financing. He argued that concessional funds should be used to de-risk viable projects rather than support unproductive ones.

 

Kenya recently became the first sub-Saharan African country to contribute to AIIB’s Project Preparation Special Fund, a move Salvado described as a step toward stronger South-South cooperation. He said such partnerships will be essential to narrowing Africa’s infrastructure deficit and improving global connectivity.

 

Welcome to the Africa Hall of Fame, where brilliance knows no borders and the extraordinary tales of African trailblazers echo through the ages. Step into a realm where the spirit of innovation, resilience, and excellence converges, giving rise to a constellation of stars that have left an indelible mark on the African continent and beyond.

 

Behold a gallery of visionaries, pioneers, and change-makers who have sculpted the narrative of Africa's ascent to greatness. These luminaries, hailing from diverse corners of this vibrant continent, have not only shattered ceilings but have built bridges that span the globe. As you navigate the hallowed halls, you will encounter the stories of individuals whose names have become synonymous with progress, empowerment, and transformation.

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