Access Bank to Support Africa’s Transformation with $300 Million Fund

Access Bank, in collaboration with the Aig-Imoukhuede Foundation, has launched a transformative project to raise $300 million for major government initiatives across Africa. Announced at the Africa CEO Forum in Kigali, this 20-year commitment aims to enhance Africa’s role in global affairs by supporting transformative reforms, particularly in digital public infrastructure. Celebrating Africa Day 2024, Access Bank emphasized the need for quality education and leveraging technology to empower Africa’s youth. This initiative reflects a growing consensus among African leaders to solve Africa’s challenges internally and ensure the continent takes its rightful place on the global stage.

$300 Million Fund Initiative
The $300 million fund is a result of a public-private partnership championed by Access Bank. This initiative seeks to support transformative projects that will positively impact various sectors across the continent. By providing substantial financial support, Access Bank and its partners aim to drive major changes in government initiatives that will benefit millions of Africans.

Africa Day 2024 and the Power of Education
In celebration of Africa Day 2024, Access Bank highlighted the importance of Africans taking their rightful place on the global stage. This year’s celebration, under the African Union’s theme, “Educate an African Fit for the 21st Century, focused on the transformative power of education amidst numerous challenges on the continent.Africa, with over 1.2 billion people speaking more than 3,000 languages across 54 countries, is rich in culture and diversity. However, the continent faces significant educational challenges. Reports from UNESCO and the African Union indicate that more than a quarter of school-age children were out of school in 2023. Furthermore, nine out of ten children cannot read or write by the age of ten, underscoring the urgent need for quality education.

Launch of the Landmark Initiative
Access Bank, in collaboration with the Aig-Imoukhuede Foundation, announced this landmark initiative at the Africa CEO Forum in Kigali. The theme of the forum, At the Table or on the Menu? emphasized the need for Africa to actively participate in shaping its future. Both institutions pledged a total of $300 million over the next 20 years, with Access Bank contributing $200 million and the Aig-Imoukhuede Foundation adding $100 million.

Access Bank, in partnership with the Aig-Imoukhuede Foundation, is leading a groundbreaking initiative to raise $300 million for transformative government projects across Africa, aiming to enhance the continent’s role in global affairs and empower its youth through technology and education.

Africa’s day Celebration-ARDNig

Vision for Africa’s Future
Aigboje Aig-Imoukhuede, Chairman of Access Holdings Plc and Co-Founder of the Aig-Imoukhuede Foundation, emphasized the need for Africa to solve its own problems rather than waiting for external assistance. He highlighted that this $300 million commitment is a step towards achieving this goal. According to Aig-Imoukhuede, the substantial funding will support the creation of an African-led Super NGO. This organization will collaborate with academics, experts, and philanthropists worldwide to bridge the gap between Africa and the rest of the world. The NGO’s main focus will be on supporting African governments in implementing transformative reforms, particularly in digital public infrastructure. This infrastructure is crucial for providing citizens with access to the same quality of public goods and services available in more developed nations.

Leveraging Technology for Youth Empowerment
Aig-Imoukhuede stressed the importance of leveraging technology to empower Africa’s youth and amplify the continent’s global voice. He stated, “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.

The collaborative effort between Access Bank and the Aig-Imoukhuede Foundation marks a significant step towards addressing Africa’s challenges and enhancing its global standing. With a $300 million commitment aimed at transformative government initiatives, particularly in digital public infrastructure and education, this initiative promises measurable improvements in the lives of millions across the continent. By leveraging technology and fostering public-private partnerships, Africa can empower its youth and secure its place at the global table, demonstrating the power of visionary leadership and united action for development.