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African Development Bank Group (AfDB)

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    • Bank Executive Director Rufus Darkortey (right) welcoming Ambassador El Gayly Mohamed Abdelhamid, Sudanese Chargé d’Affaires to Cote d’Ivoire
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Source: African Development Bank Group (AfDB) |

African Development Bank Executive Director and Sudanese Envoy Discuss Crucial Support Amid Ongoing Conflict

The meeting between Ambassador Abdelhamid and Mr. Darkortey signifies a collaborative effort between the African Development Bank and Sudan to address challenges and pave the way for a more resilient future for the country

Ambassador El Gayly Mohamed Abdelhamid, Sudanese Chargé d’Affaires to Cote d’Ivoire, recently paid a courtesy visit to Mr. Rufus N. Darkortey, Executive Director for Sudan at the African Development Bank (www.AfDB.org). The meeting, held on April 4, 2024, at the African Development Bank’s headquarters in Abidjan, focused on collaborative efforts…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Rwanda: African Development Fund to provide a partial credit guarantee to support the financing of green and sustainable initiatives

This is in line with Rwanda’s National Strategy for Transformation (NST-1) for 2017-2024 and Vision 2050

The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group (www.AfDB.org), has approved a partial credit guarantee to support Rwanda’s mobilisation of financing to implement green and social initiatives. The Partial credit guarantee for mobilisation of sustainable financing for Rwanda project…

African Development Bank Group (AfDB)

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    • The Bank played a key role in linking Cameroon and Nigeria through the Bamenda-Enugu road construction project
    • The building of the Cross River bridge, opened in October 2022
    • Marie-Laure Akin-Olugbade, the African Development Bank’s Vice-President for the Regional Development, Integration and Business Delivery Complex, meets with Joseph Dion Ngute, Prime Minister of Cameroon
    • Marie-Laure Akin-Olugbade, the African Development Bank’s Vice-President for the Regional Development, Integration and Business Delivery Complex, met Alamine Ousmane Mey, Cameroon’s Minister of Economy, Planning and Regional Development
    • Louis-Paul Motaze, Finance Minister
    • Meeting with Cameroon's principal technical and financial partners
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Source: African Development Bank Group (AfDB) |

Cameroon: The African Development Bank, a leading infrastructure partner

“The Bank's operations have changed the face of the region” – Cameroonian minister

In an era of transformative development, the African Development Bank Group (www.AfDB.org) stands as a beacon of progress in Central Africa, particularly in Cameroon, where the institution has earmarked more than 50 percent of its portfolio for funding transport infrastructure. The Bank spearheaded crucial projects such as the Ketta-Djoum Road,…

African Development Bank Group (AfDB)

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    • Dr Akinwumi Adesina (right) warns of the impact of non-transparent resource-backed loans on Africa's debt burden. Semafor Summit, Washington DC April 2024 (1)
    • Dr Akinwumi Adesina (right) warns of the impact of non-transparent resource-backed loans on Africa's debt burden. Semafor Summit, Washington DC April 2024 (2)
    • Dr Akinwumi Adesina (right) warns of the impact of non-transparent resource-backed loans on Africa's debt burden. Semafor Summit, Washington DC April 2024 (3)
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Source: African Development Bank Group (AfDB) |

Africa's $824 billion debt burden and opaque resource-backed loans hinder its potential, African Development Bank President warns

The continent would pay $74 billion in debt service payments this year alone, a sharp increase from $17 billion in 2010

Africa's immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries' future growth, African Development Bank President Akinwumi Adesina (www.AfDB.org) said on Thursday. "I think it's time for us to have debt transparency accountability and make sure that this whole thing of these…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Business Founders to Take Center Stage at African Hidden Champions (AHC) Soirée in Johannesburg

his event, dubbed "Proudly Local, Boldly Global," is also supported by British International Investment (BII), the UK’s development finance institution (DFI) and impact investor

African Hidden Champions (AHC) will host an exclusive Soirée on April 24, 2024, in Johannesburg to convene and celebrate entrepreneurial spirit with top African founders taking on the global stage. The event will also feature a private concert with award-winning South African artist, Ami Faku.  African Hidden Champions, a co-partnership…

African Development Bank Group (AfDB)

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    • Attendees at the launch ceremony of the three-year project to combat money laundering and terrorism financing, Senegal April 2024
    • (l-r) : AfDB Country manager for Senegal Mohamed CHERIF,  Edwin W. HARRIS Jr, Director General of GIABA. David N BORBOR, Director of the Financial Intelligence Unit of Sierra Leone and GIABA national correspondent. Tafsir HANE, representing Senegal’s Financial Intelligence Unit’s President, attend launch ceremony Dakar, April 2024
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Source: African Development Bank Group (AfDB) |

African Development Bank, Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) combat money laundering and terrorism financing in Africa through new project

The project will be financed through a grant from the Transition Support Facility of the African Development Bank to the tune of 3.5 million UA

The African Development Bank (www.AfDB.org) and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) on Thursday officially launched a three-year support project to combat money laundering and terrorism financing in their member countries.  The project, titled “Capacity Development for Anti-Money Laundering and Countering the Financing of Terrorism…

African Development Bank Group (AfDB)

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    • Workers carrying bags of fertilizer at a warehouse in Njombe, Tanzania
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Source: African Development Bank Group (AfDB) |

The Africa Fertilizer Financing Mechanism receives $7.3 million to boost agricultural productivity and smallholder farmers’ income

Funding targets food production and income growth for 800,000 smallholder farmers

Global Affairs Canada (https://apo-opa.co/3UlInNr) has provided $7.3 million in funding to the Africa Fertilizer Financing Mechanism (AFFM) to enhance sustainable agricultural productivity and smallholder farmer livelihoods, particularly women and youth across Africa. The financing will aid the Mechanism in replicating its credit guarantee programs, enabling fertilizer importers and aggregators to access…

African Development Bank Group (AfDB)

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    • Former interns praised the Bank’s programme, which has opened up employment opportunities for them
    • Serge N’Guessan, Director General of the Bank Group for Central Africa and head of the Bank’s Country Office in Cameroon, and Marie-Laure Akin-Olugbade, the Bank Group’s Vice-President for Regional Development, Integration and Business Delivery, at a meeting with female entrepreneurs and young interns in Cameroon
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Source: African Development Bank Group (AfDB) |

African Development Bank projects improve job opportunities for young people in Cameroon

The meeting saw significant participation from female entrepreneurs and young graduates who have benefited from work placements in projects financed by the Bank

The African Development Bank (AfDB) (www.AfDB.org) has underscored the success of its program aimed at bolstering job opportunities for young people in Cameroon. At a meeting convened in Yaoundé on April 9, 2024, chaired by Marie-Laure Akin-Olugbade, the Bank Group’s Vice-President for Regional Development, Integration, and Business Delivery, stakeholders across…

African Development Bank Group (AfDB)

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    • The newly inaugurated ultra-modern Central Regional office complex of the Bank Group
    • Inauguration of the regional office of the African Development Bank Group in Yaoundé, symbolizing a new chapter in regional development
    • African Development Bank Group Vice President in charge of Regional Development, Regional Integration and Service Delivery, Marie-Laure Akin-Olugbade; the General Manager of the Bank's regional office for Central Africa, Serge N'Guessan; Cameroon's Prime Minister Joseph Dion Ngute; and the Minister of Economy, Planning, and Territorial Administration, Alassane Alamine Mey, at the ribbon-cutting ceremony of the Bank Group's new Central Africa office in Yaoundé
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Source: African Development Bank Group (AfDB) |

Cameroon: African Development Bank bolsters Central Africa presence with inauguration of new regional office in Yaoundé

Situated in the Golf district, the six-storey regional office building is equipped with 130 workstations, several meeting rooms, and a clinic

In a move that reaffirms its commitment to Central Africa’s development course, the African Development Bank (AfDB) (www.AfDB.org) has inaugurated an ultramodern regional office building in Yaoundé, Cameroon. Joseph Dion Ngute, Prime Minister of Cameroon, and Marie-Laure Akin-Olugbade, the Bank Group's Vice-President for the Regional Development, Integration and Business Delivery…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank publishes report on callable capital

The report presents the circumstances leading to a call on callable capital, and the processes for such a call being made by the Bank and met by shareholders

The African Development Bank (www.AfDB.org) has published a report clarifying the legal framework, processes and governance for a call on the callable capital by the institution. Callable capital refers to the portion of the Bank’s capital that is subscribed by shareholders but not immediately paid. It represents a commitment to…