$300m To Transform Africa’s Economic Landscape, Access Bank Group, Aig-Imoukhuede Foundation Made Promise
African leaders are going to follow the lead of Aig-Imoukhuede and Access Bank Group as they pose challenge on the way forward for the blacks.
The Aig-Imoukhuede Foundation and Access Bank Group have pledged $300 million in charitable commitments over the next 20 years. Access Bank has committed $200 million and Aig-Imoukhuede Foundation committed $100 million. This will fund African government initiatives with a proven potential to transform national economic performance.
Speaking about the commitment, Aigboje Aig-Imoukhuede, Chairman, Access Holdings and Co-Founder, Aig-Imoukhuede Foundation, said, “We can’t wait to be saved, Africans need to solve Africa’s problems. This $300 million commitment reflects this reality.”
Appropriately, this announcement was made at the Africa CEO Forum 2024 in Kigali, Rwanda, where the theme of this year’s event is ‘At the table or on the menu?’. At the event, CEOs from across the continent joined to discuss how Africa can demand a seat at the global table, rather than continuing to wait to be invited.
The fund will see the creation of an African-led Super NGO in partnership with academics, experts and philanthropists across the globe who are committed to closing the gap between Africa and the rest of the world. The NGO will work with African governments to provide the funding, governance and talent required to successfully execute game changing government reform programs, especially in the delivery of digital public infrastructure.
The development comes at a time when Ajay Banga, President of the World Bank, has warned wealthy countries that it would be short-sighted to “ignore” Africa. This landmark Africa-led initiative could not have been better timed.
“We African leaders cannot sit back and watch the 4th Industrial Revolution transform the rest of the world while leaving Africa falling further behind. We have to create our own ‘table’ by using technology to unlock the power of our youth, giving Africa a greater voice in the world. It’s today’s leaders who will determine whether or not we grab this opportunity,” Aigboje Aig-Imoukhuede continued.
The availability of digital public infrastructure is a proven and cost-effective way for developing nations to break free of the status quo. It provides citizens with access to the same public goods and services available to citizens of advanced nations. The India Stack has become a shining example of what can be achieved when visionary public and private sector leaders partner for development.
The Access Bank and Aig-Imoukhuede Foundation inspired NGO will make such partnerships a reality and delivering measurable improvements to the lives of Africans across the continent.
Notes to Editor:
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ABOUT THE AIG-IMOUKHUEDE FOUNDATION
The Aig-Imoukhuede Foundation is a public sector-focused philanthropic organisation founded by Aigboje and Ofovwe Aig-Imoukhuede to improve the lives of Africans through transformed public service delivery and increased access to quality primary healthcare. The Aig-Imoukhuede Foundation accomplishes its mission by supporting the reform initiatives of public sector entities, providing financing, technical support, and capacity-building programmes and resources for the public sector workforce. The Foundation also provides funding and strategic support to drive the work of affiliate organisations such as Africa Business Coalition for Health (ABC Health), the Private Sector Health Alliance of Nigeria (PSHAN), the Nigerian Solidarity Support Fund (NSSF) and others.
For more information, please visit www.aigimoukhuedefoundation.org.
ABOUT ACCESS BANK
Access Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning 3 continents, 21 countries and over 60 million customers. The Bank employs over 28,000 thousand people in its operations in Africa and Europe, with representative offices in China, Lebanon, India, and the UAE.
Access Bank’s parent company, Access Holdings Plc, has been listed on the Nigerian Stock Exchange since 1998.
The Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities. The Bank services its various markets through three key business segments: Corporate and Investment Banking, Commercial Banking, and Retail Banking. The Bank has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last 18 years, becoming one of the continent’s largest retail banks.
As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.
