{"id":11136,"date":"2021-03-01T09:55:57","date_gmt":"2021-03-01T08:55:57","guid":{"rendered":"https:\/\/ecomnewsafrique.com\/?post_type=news&#038;p=11136"},"modified":"2021-03-01T09:55:58","modified_gmt":"2021-03-01T08:55:58","slug":"guinea-wants-to-become-the-second-economic-power-in-west-africa","status":"publish","type":"news","link":"https:\/\/ecomnewsafrique.com\/en\/2021\/03\/01\/guinea-wants-to-become-the-second-economic-power-in-west-africa\/","title":{"rendered":"Guinea wants to become the second economic power in West Africa"},"content":"\n  \n    \n      \n&#8220;Our ambition is to become the second largest economic power in West Africa. \u00bbSaid Alpha Cond\u00e9, President of the Republic of Guinea. \u201cWe will always be alongside Guinea in the process that leads to its prosperity. \n\n    \n  \n\n\n  \n    \n      \nAdded Akinwumi A. Adesina, President of the African Development Bank. &#8220;We want to attract investors and we are committed to implementing reforms, even the most difficult, to make 2021 the year of complete transformation of Guinea,&#8221; said the Guinean president. \n\n    \n  \n\n\n  \n    \n      \nOur ambition is to become the second economic power in West Africa, after Nigeria. We are determined to do so. &#8221; The country has enormous agricultural, mining and energy potential. \n\n    \n  \n\n\n  \n    \n      \n\u201cGuinea must be self-sufficient in food products to then become an exporter. We are going to develop value chains for agricultural, market garden and agro-industry products, while keeping an eye on mines and road infrastructure, \u201dsaid Alpha Cond\u00e9. \n\n    \n  \n\n\n  \n    \n      \nActions will also be carried out to modernize the administration and businesses and consolidate public finances, in particular through digitization and audits of the mining, telecommunications and banking sectors, with the assistance of the African Development Bank, also announced the Guinean president. \n\n    \n  \n\n\n  \n    \n      \n\u201cI welcome the fact that you are prioritizing investments in agriculture and agribusiness. Guinea can become the breadbasket of West Africa, underlined the president of the African Development Bank, Akinwumi A. Adesina, as part of one of its &#8220;High 5&#8221;, which aims to &#8220;feed the &#8216;Africa&#8217;, it is also a top priority for the Bank. &#8221; \n\n    \n  \n\n\n  \n    \n      \n\u201cWe will be by your side in the process that leads to Guinea&#8217;s prosperity. This forum is a great project design platform for investors. It comes at the right time and is a source of encouragement. \u00bb, Continued President Adesina, who highlighted the remarkable progress of Guinea in recent years: a budget surplus of 0.6% of GDP in 2019 (against a deficit of 5.4% in 2015), an improvement of the business climate with a gain of 23 places in the \u201cDoing Business\u201d ranking (World Bank benchmark on the business climate) between 2012 and 2019. \n\n    \n  \n\n\n  \n    \n      \n\u201cThe country&#8217;s potential is enormous. Guinea is particularly endowed with very abundant natural resources. It has two-thirds of the world\u2019s bauxite deposits and vast deposits of gold, iron and diamonds as well as very large iron reserves as yet untapped. \n\n    \n  \n\n\n  \n    \n      \nThe country is bankable and we will work closely together to meet all the challenges and ensure a better future for Guineans, \u201dsaid Akinwumi A. Adesina. \n\n    \n  \n\n\n  \n    \n      \nFaced with the Covid-19 pandemic and the Ebola epidemic back in the country, the President of the Bank expressed his solidarity with President Cond\u00e9. \u201cAs a slow economic recovery begins after the Covid-19 pandemic, Ebola is back. \n\n    \n  \n\n\n  \n    \n      \nIt couldn&#8217;t be worse, lamented Akinwumi A. Adesina. But the African Development Bank is ready to help you deal with this situation. Guinea will overcome the obstacle of Covid-19 and as it has done in the past, Guinea will rise and once again overcome the obstacle of Ebola. \n\n    \n  \n\n\n  \n    \n      \n&#8221; As a financial partner of GUIF, the IFC welcomed the organization of this event and promised to support the private sector through the voice of its vice-president for West Africa and the Middle East, Sergio Pimenta: \u201cthe Guinea is endowed with natural economic capital. \n\n    \n  \n\n\n  \n    \n      \nThis big meeting will allow investors to make fruitful contacts and lead to project financing. We hope to bring the private sector to its full potential. \n\n    \n  \n\n\n  \n    \n      \n\u00ab The first edition of GUIF, which took place until February 26 in Conakry, the capital of Guinea, brought together project leaders, national and international investors, international organizations, bilateral and multilateral development partners. \n\n    \n  \n\n\n  \n    \n      \nA portfolio of around sixty projects is subject to funding A portfolio of around sixty projects is subject to funding. It focuses on activities covered by the &#8220;High 5&#8221; of the African Development Bank, main partner of the event: agribusiness, energy, environment, industry, construction, mining, tourism, transport. \n\n    \n  \n\n\n  \n    \n      \nSource: APO Group for African Development Bank Group (AfDB)\n\n    \n  \n\n","author":15,"featured_media":10535,"comment_status":"closed","ping_status":"closed","template":"","tags":[713,699,698],"location":[650],"class_list":["post-11136","news","type-news","status-publish","has-post-thumbnail","hentry","tag-economic-analysis","tag-economy","tag-news","location-guinea-en"],"short_url":"https:\/\/bit.ly\/3sADX4x","have_related_news":"done","chapo":"At the opening of the first edition of the Guinea Investment Forum (GUIF), Wednesday February 24, the President of the Republic of Guinea, Alpha Cond\u00e9, announced his desire to mobilize, in partnership with the Bank African Development Corporation and the International Finance Corporation (IFC), three billion US dollars from investors to carry out 67 transformative projects in the country.","media":{"src":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2021\/01\/bourse-eco-550x360.png","srcset":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2021\/01\/bourse-eco-550x360.png 550w","sizes":"550px","alt":"","width":550,"height":360,"ratio":0.62,"credit_photo":""},"media-news-header":{"src":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2021\/01\/bourse-eco-1064x658.png","srcset":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2021\/01\/bourse-eco-1064x658.png 1170w","sizes":"1170px","alt":"","width":1170,"height":658,"ratio":0.62,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - 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