Focus more on poverty eradication, financial inclusion, Osibanjo tells development banks

Vice President Yemi Osibanjo, has told Chief Executive Officers (CEOs) of African Development Finance Institutions (DFIs) to direct their energies on how best to eradicate poverty as well as improve financial inclusion for the continent’s citizens.

He further said it is better for the development banks to prioritise the development of Small and Medium Enterprises (SMEs) so that businesses could grow.

Osibanjo, represented by the Minister of Industry, Trade and Investments, Dr. Okechukwu Enelamah, said this at a forum of CEOs of Association of African Development Finance Institutions in Abuja.

The theme for the programme is, ‘Strengthening Africa’s development financing institutions through good corporate governance and appropriate regulations for sustainable development financing in Africa’.

Earlier, the Minister of trade and investments reiterated government’s commitment towards enhancing rapid development by providing enabling environment for DFIs to function.

On his part, the Managing Director, Bank of Industry (BOI), Olukayode Pitan, said the gathering is about brainstorming and finding ways to facilitate rapid development on the continent.