Africa’s Economic Stability Under Threat due to Commodity Price Volatility – AfDB President

AfDB President, Akinwumi Adesina, at the Sustainable Trade Africa Conference, has highlighted Africa’s vulnerability to commodity price volatility due to its reliance on primary commodity exports.
He urged for a shift towards intra-regional trade and industrial manufacturing, facilitated by the Africa Continental Free Trade Area (AfCFTA).
Adesina also warned of potential losses of up to $25 billion annually due to the EU Carbon Border Tax Adjustment Mechanism, suggesting a need for a “Just Trade-for-Energy Transition” (JTET).
The bank is supporting Africa’s green transition with the $20 billion Desert-to-Power programme and the Alliance for Green Infrastructure in Africa.

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