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Access Bank Group and Aig-Imoukhuede Foundation Unite to Invest $300 Million in Africa's Economic Transformation

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In a groundbreaking announcement made during the Africa CEO Forum 2024 in Kigali, Rwanda, Access Bank Group and the Aig-Imoukhuede Foundation have pledged a total of $300 million to drive Africa's economic development over the next 20 years. This commitment, with Access Bank contributing $200 million and the Aig-Imoukhuede Foundation contributing $100 million, underscores a shared vision to address Africa's challenges with African-led solutions.

The funds will be allocated to support African government initiatives focused on enhancing national economic performance. A notable aspect of this initiative is the creation of an African-led Super NGO, which will collaborate with global experts and philanthropists to implement transformative projects, particularly in the realm of digital public infrastructure.

Aigboje Aig-Imoukhuede, Chairman of Access Holdings PLC and Co-founder of the Aig-Imoukhuede Foundation, emphasized the importance of African leadership in solving the continent's challenges, stating, "We can’t wait to be saved, Africans need to solve Africa’s problems. This $300 million commitment reflects this reality."

This announcement comes at a critical juncture, as global leaders, including Ajay Banga, President of the World Bank, warn against neglecting Africa's potential. The initiative aims to ensure that Africa is not left behind in the 4th Industrial Revolution, with a focus on leveraging technology to empower its youth and elevate the continent's voice on the global stage.

Through partnerships between the public and private sectors, this initiative seeks to replicate successful models like the India Stack, demonstrating the transformative power of digital public infrastructure in advancing development goals. Ultimately, the Access Bank and Aig-Imoukhuede Foundation-led initiative aims to deliver tangible improvements in the lives of Africans across the continent, marking a significant step towards Africa's economic transformation.

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Emmanuel Ukaoha has 4years Experience in Journalism, he is also a Web Developer and an SEO Expert. You Can also Connect with him on Instagram and Linkedln.

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