ABIDJAN — The African Development Bank’s semi-annual Business Opportunities Seminar brought together contractors, consultants, manufacturers, and suppliers last week to meet with sector specialists, hear about the bank’s strategic direction, and learn more about various financial products available.
This year’s first BOS included discussions with leaders representing procurement-related departments, including co-financing and client solutions, acquisition and integrity, and anti-corruption. This follows the previous October 2017 meeting in Kenya that focused on the bank’s structural decentralization and key priorities under its current 10-year “High 5” development agenda.
Other presentations included the AfDB’s current lending program and emerging initiatives and opportunities for Africa-based vendors, suppliers, and technical consultants to participate in the AfDB’s plans to transform the continent.
Recent changes to procurement policies at the African Development Bank encourage the participation of local contractors, national procurement systems, and emphasize value for money. What does this mean for contractors seeking to work with the AfDB? Devex sorted through the details in our webinar with DevData analyst and author of the 2017 Devex AfDB Contractor Insight Series, Matthew Wolf, to learn more.
“The bank promotes trade and investments in Africa to enable the private sector to be better developed at the continental level, and for a transfer of technology,” Benjamin Asare, a consultant to the bank’s co-financing department, told the audience. However, he alluded to a plethora of challenges facing the private sector, including an absence of information on investment opportunities, low competitiveness of African economies, and limited regional integration in some parts on the continent.