The African Development Bank (AfDB) says a more balanced media coverage of Africa and its development is critical for changing false narratives on the continent.
The AfDB President, Dr Akinwumi Adesina, in a statement, said this during the All Africa’s Media summit held in Nairobi.
The News Agency of Nigeria (NAN) reports that the summit was attended by nearly 300 participants from across the continent.
The AfDB president praised the crucial role the media played in strengthening democracy and advancing inclusivity.
Adesina said there were many positive developments in Africa, yet the continent continued to suffer misrepresentations.
According to him, this has undermined the economic progress and investment potential on the continent.
“In spite of the significant progress within our continent, the prevailing media narrative often focuses on negative stereotypes, overlooking the substantial advancements and resilience Africa demonstrates.
“There is plenty of positive news to report about Africa.
“In 2023, Africa’s growth rate surpassed the global average, with 11 African nations ranked among the world’s fastest-growing economies,” he said.
Adesina referenced a 2021 Africa No Filter Report, which revealed significant adherence to outdated and negative clichés in media reports about Africa.
He said: “it is time for change.
“We must reshape the narrative about Africa to reflect its true spirit and potential.
“We must promote a balanced view that highlights both the challenges and the many successes of Africa.
” It is about changing perceptions and showcasing Africa as a continent rich with opportunity and innovation.”
The Bank Group President also spoke about the challenges and transformations within the media sector, highlighting the impact of digital technology.
According to Adesina, the media landscape has dramatically shifted with the rise of the internet and mobile technology, leading to a proliferation of digital platforms.
“While this has democratised information, it has also complicated issues. The distinction between fact and fiction can become blurred.
“To counter unfair and unbalanced narratives, there should be the creation of a powerful, globally respected African media.
“There is a need for strategic collaborations among regional financial institutions to support this cause. The media must act as a catalyst for development,” he said.
According to Adesina, there is a need to celebrate and promote the continent’s successes, turning the tide against the longstanding stereotypes that have clouded the global view of Africa.
He said: “what you call yourself is the name others will subscribe to you.
“For as long as we continually denigrate ourselves and play into the hands of those who control the narrative, we will be stuck with a label that does not belong to us.”
The AfDB boss highlighted the bank’s successes, which included maintaining a Triple A (AAA) credit rating and inaugurating a groundbreaking financial initiative.
According to him, this has earned the bank respect as an innovative and successful multilateral development bank.
“We have proven that Africa can lead with innovation and strength in the global financial landscape.
“Yet, these achievements receive minimal attention compared to the persistent focus on Africa’s challenges.
“One month ago, AfDB inaugurated a landmark 750 million dollar hybrid capital instrument, again with a Triple A rating, which was oversubscribed eight times.
“This as a huge testament to the confidence and trust in Africa’s burgeoning financial capabilities,” he said.
Adesina then pledged the bank’s commitment to supporting initiatives that would help the media present a more balanced and progressive portrayal of Africa and support its economic development.
