By Ayomide Otitoju
The African Development Bank (AfDB) welcomed Canada’s Special Envoy for Africa, Ambassador Ben Marc Diendéré, to its headquarters for a high-level meeting aimed at deepening collaboration between the Bank and Canada. The discussions focused on advancing investment, sustainable development, and private sector engagement across Africa.
Marie-Laure Akin-Olugbade, Senior Vice-President of AfDB, lauded Canada as a key partner and major contributor to the African Development Fund (ADF), the Bank’s concessional financing window. She highlighted Canada’s leadership on climate action, inclusive growth, and gender equality, ahead of the ADF’s 17th replenishment scheduled in London on 15–16 December.
Ambassador Diendéré emphasized Canada’s commitment to Africa through its Canada-Africa Strategy, aimed at enhancing trade, investment, and economic diversification. He expressed interest in leveraging AfDB as a platform for Canadian companies to access African markets.
The meeting explored potential cooperation in sectors including renewable energy, mining, agribusiness, health, technical and vocational training, artificial intelligence, digital transformation, and the cultural and creative industries.
Akin-Olugbade presented the Bank’s 2024 Ten-Year Strategy and the Four Cardinal Points guiding its investments. She also highlighted business opportunity seminars and the recent Africa Investment Forum, which attracted nearly $15.3 billion in investment interest across 39 projects, as key entry points for Canadian firms.
The discussions also covered financing for project design and feasibility studies, with Akin-Olugbade encouraging Canadian companies to participate in AfDB-supported tenders. Diendéré invited the Bank to visit Canada to engage the private sector directly.
Both parties agreed to develop a roadmap to strengthen their partnership and ensure more productive collaboration, signalling a new chapter in AfDB-Canada relations.
