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

Sao Tome and Principe: African Development Bank signs $3.2 million loan agreement for upgrade of National Switch payment system

The upgrade will allow for automatic Real Time Gross Settlement (RTGS) modules and Automated Clearing House functionalities which strengthen the clearing and settlement of payments

The African Development Bank Group (www.AfDB.org) and the government of Sao Tome and Principe have signed a $3.2 million loan agreement to upgrade the country’s National Switch payment system that supports the clearing and settlement of country wide high-value and retail payments. The upgrade will allow for automatic Real Time…

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

Egyptian African Business Association Meets with team from African Development Bank Country Office

The teams discussed areas to support Egyptian businesses’ expansion into the rest of Africa and ways to benefit from Bank-funded operations

The African Development Bank’s (http://www.AfDB.org) new Country Manager for Egypt, Abdourahmane Diaw, has received a delegation from the Egyptian African Business Association (EABA). The visit, led by Dr. Yousry El Sharkawy, chairman of the association, took place on 14 March. He was accompanied by Dr. Mohamed Mandour, head of the…

African Development Bank Group (AfDB)

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    • The African Development Bank is extending nearly $150 million in subordinated debt to Mauritius Commercial Bank to expand its loan book across Africa.
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Source: African Development Bank Group (AfDB) |

African Development Bank Approves $147 Million in Subordinated Debt to the Mauritius Commercial Bank to Bolster Capital Base and Drive Loan Portfolio Growth

MCB has recently been expanding its footprint into several African countries and is also deepening its intra-African trade financing activities

The Board of the African Development Bank Group (www.AfDB.org) has approved $147 million in subordinated debt to the Mauritius Commercial Bank Ltd (MCB) to enhance its capital base and mobilize loan growth in the renewables, manufacturing healthcare and other sectors, including SMEs. The debt will take the form of a…

African Development Bank Group (AfDB)

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    • African Development Bank approves $28.49 million to enhance Ghana's universal electrification goal
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Source: African Development Bank Group (AfDB) |

African Development Bank approves $28.49 million grant to enhance Ghana’s universal electrification goal

With the latest Board approval of $28.49 million, the project’s total cost of $85.18 million is in the coffers

The Board of Directors of the African Development Bank (www.AfDB.org) has approved a grant of $28.49 million for Ghana to construct renewable energy infrastructure that will increase its renewable energy use by 10% through 2030.  The financing, which will come from the Climate Investment Funds (CIF) (https://apo-opa.info/40Cg91m) – Scaling Up…

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

Mauritania: African Development Bank and Bank for Trade and Industry (BCI) Group Sign US$ 485,000 Affirmative Finance Action for Women in Africa (AFAWA) Technical Assistance Agreement to Promote Financial Inclusion of African Women's Enterprises

The project aims to strengthen BCI’s financing capacity for trade and industry and to better support women small and medium enterprises in Mauritania, Mali, Senegal and Guinea

The African Development Bank (www.AfDB.org) and the Bank for Trade and Industry (BCI) of Mauritania have signed a $485,000 technical assistance agreement for the Affirmative Finance Action for Women in Africa (AFAWA) program which aims at promoting women's access to finance in Africa. The agreement was signed by Mohamed El…

African Development Bank Group (AfDB)

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    • (L-R): Director General, African Development Bank Group,Nigeria Country Department, Mr. Lamin Barrow, and Executive Secretary, Hadejia Jama’are Komadugu Yobe Trust Fund, Dr.Hassan Bdliya, during the official signing of the EUR 362,000 Grant Agreement for Preparation of a Strategic Action Plan for Water Resources Development for Komadugu-Yobe Basin Phase II, in Abuja
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Source: African Development Bank Group (AfDB) |

African Development Bank signs €362,000 grant agreement with Hadejia Jama'are Komadugu Yobe Basin-Trust Fund to support water resources development in northern Nigeria

Lamin Barrow, Director General of the African Development Bank’s Nigeria Country Department, underscored the program's importance, saying it would ensure long-term water security for the local people

The African Development Bank (www.AfDB.org) has signed a €362,000 grant agreement with Hadejia Jama'are Komadugu Yobe Basin-Trust Fund to prepare additional studies under the second phase of developing a strategic plan for managing water resources in the Komadugu-Yobe Basin in northern Nigeria. Specifically, the grant will support the preparation of…

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

World Water Day 2023: Accelerating Change in solving Africa’s Water and Sanitation Crises

Vice President Dr Beth Dunford’s Statement

Water is an essential resource with direct impact on Africa’s economic potential: inadequate access to safe water, sanitation and hygiene services reduces economic opportunities. One in three Africans are affected by water scarcity. According to the 2022 WHO/UNICEF JMP report [1], 411 million people in Africa still lack basic drinking…

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

Liberia: African Development Fund grant to modernise payments infrastructure and systems

The project’s primary objective is to strengthen the payments ecosystem in Liberia for increased efficiency and to foster growth and innovation

The African Development Fund’s Board of Directors has approved $3.9 million grant to finance upgrade of Liberia's payments infrastructure and systems project. The approval of the grant from the Bank’s concessional lending window, was made on 17 March. The project’s primary objective is to strengthen the payments ecosystem in Liberia…

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

Kenya: African Development Bank approves $30 million Trade & Small and Medium Enterprises (SME) Finance Facility for Family Bank Limited

The facility is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade & SME finance gap in the East African nation

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $30 million Trade & SME Finance Facility for Family bank Limited (FBL) in Kenya. The facility is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade & SME finance…

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

Africa Centres for Disease Control and Prevention (CDC) hosts lead partners of Partnerships for African Vaccine Manufacturing (PAVM) for review of vaccine manufacturing ecosystem in Africa

The meeting, which took place from 9-10 March, was dedicated to identifying a clear set of annual objectives and deliverables for the Partnership for African Vaccine Manufacturing (PAVM) in 2023

The Africa Centres for Disease Control and Prevention (Africa CDC) hosted its lead partners at a meeting on the sidelines of the Africa Health Agenda International Conference 2023 held in Kigali, Rwanda. The meeting, which took place from 9-10 March, was dedicated to identifying a clear set of annual objectives…