Analyses of the Role of the African Development Bank Group in the African Economy

Abstract

This paper analyses the role of the African Development Bank in the African Economy. Over the past few years, the African Development Bank Group has tried to pursue its institutional reforms to maximize its development effectiveness and the quality of its operations. The efforts of its regional member countries and building their capacity helps to strengthen their economies. The Bank has also consolidated its role as the continent's leading development finance institution, knowledge and research center, and a leading voice in African development issues. The Bank has adopted the structure which consists of six vice-presidential complexes, for accountability and effective management. Africa as a continent is rich in natural resources but the lack of effective and ethical leadership compromises the African economy. The objective of this paper is to show how the African Development Bank is compromised by corrupt senior leaders in Africa. Economic decline in Africa is not caused by a lack of resources but caused by poor planning and self-enrichment by African leaders which includes leaders of the African Development Bank Group. This study has applied a secondary research methodology. The secondary research methodology was used because the information or data is currently available in conference papers, government gazettes, newspaper articles, online meeting conclusions, and interviews between journalists and African leaders. The findings presented in this paper are based on the data available and the paper is concluded by stating that the African Development Bank Group is used as a platform to loot public resources in African countries.