Fix Procurement, Digitise Systems To Save $299bn Yearly, AfDB Urges African Leaders

The African Development Bank (AfDB) has emphasized the need for African leaders to enhance procurement processes and digitize systems to potentially save the continent approximately $299 billion annually. This recommendation is highlighted in the bank's 2026 African Economic Outlook, which was unveiled during the AfDB's annual meetings held in Brazzaville. The report identifies inefficient spending practices and inadequate decision-making as significant factors contributing to financial losses across the continent. By addressing these issues, the AfDB believes that African nations can significantly improve their fiscal management and resource allocation.

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