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African Development Bank Group (AfDB)

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    • From right to left, Joseph Ribeiro, Deputy Managing Director of the Bank for West Africa, Yéo Nahoua, Chief of Staff to the Ivorian Minister of Planning and Development, Siélé Silué, Special Advisor to the Prime Minister with responsibility for projects co-financed by technical and financial partners
    • Bank experts, Ivorian government representatives and other stakeholders came together for a workshop to discuss achievements of the Bank portfolio in 2022 and the plan for 2023-2027
    • Family photo of Bank experts, Ivorian government representatives, technical partners of Côte d'Ivoire, private sector and civil society representatives at the July 22 summing-up workshop for the four consultation days
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Source: African Development Bank Group (AfDB) |

African Development Bank and Côte d'Ivoire start Preliminary Discussions for 2023-2027 Strategy

The discussions focused on the first version of the country diagnostic note, prepared by the Bank for Côte d'Ivoire, and the completion report of the Bank's 2018-2022 Country Strategy Paper (CSP)

The African Development Bank (www.AfDB.org) and the government of Côte d'Ivoire initiated a preliminary dialogue in Abidjan on July 18-22, 2022, to lay the foundations for the Bank's strategy in Côte d'Ivoire over the next five years. Led by the Bank's Deputy Managing Director for West Africa, Joseph Ribeiro, the…

African Development Bank Group (AfDB)

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    • African Development Bank, African Continental Free Trade Area Secretariat, Sign $11 Million Institutional Support Grant Agreement
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Source: African Development Bank Group (AfDB) |

African Development Bank, African Continental Free Trade Area Secretariat, Sign $11 Million Institutional Support Grant Agreement

The signing took place on 25 July 2022, on the margins of the ninth meeting of the AfCFTA Council of Ministers responsible for trade, held in Accra, Ghana

The African Development Bank Group (www.AfDB.org) and the Secretariat of the African Continental Free Trade Area (AfCFTA) have signed a Protocol of Agreement for an $11.24 million support package to enhance the Secretariat’s effective implementation. The signing took place on 25 July 2022, on the margins of the ninth meeting…

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

African Development Bank and African Guarantee Fund Launch Affirmative Finance Action for Women in Africa (AFAWA) Finance Series in Collaboration with Tanzania Bankers’ Association

The opening day on Tuesday 26 July 2022 drew over 200 representatives from banks and other financial institutions, governments, policymakers, and entrepreneurs in Tanzania

The African Development Bank’s (www.AfDB.org) Affirmative Finance Action for Women in Africa (AFAWA) initiative kicked off the first AFAWA Finance Series in collaboration with the African Guarantee Fund (AGF) and the Tanzania Bankers’ Association this week in Dar es Salaam. The opening day on Tuesday 26 July 2022 drew over…

African Development Bank Group (AfDB)

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    • Jules Ngankam, CEO of AGF Group (left), Abdulmajid Nsekela, CEO of CRDB, and Nnenna Nwabufo, African Development Bank’s Director General for East Africa, holding copies of the signed agreements.
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Source: African Development Bank Group (AfDB) |

African Development Bank and African Guarantee Fund Sign $110 Million Agreement with Tanzania’s CRDB Bank to Boost Access to Finance by Women’s SMEs

The African Development Bank’s Nnenna Nwabufo stated that the partnership would, as CRDB expands, enable SMEs to access finance in the region

The African Development Bank (www.AfDB.org) signed a $60 million financial package comprising $50 million subordinated debt to support CRDB Bank’s regional expansion efforts and a senior loan of $10 million to accelerate access to finance for small businesses managed and owned by women in Tanzania. The facility is coupled with…

African Development Bank Group (AfDB)

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    • (L-R) Dana Banks, Special Assistant to the President and NSC Senior Director for Africa, National Security Council, Chinelo Anohu, Senior Director, Africa Investment Forum (AIF), Enoh, Ebong, Director, United States Trade and Development Agency (USTDA)
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Source: African Development Bank Group (AfDB) |

The U.S. Trade and Development Agency (USTDA) and Africa Investment Forum (AIF) Showcase Women as Investment Champions

USTDA and AIF showcased how their existing partnership advances women-led sustainable infrastructure in Africa

The U.S. Trade and Development Agency (USTDA) and African Development Bank’s (www.AfDB.org) Africa Investment Forum (AIF) co-hosted a forum of 40 women leaders who are delivering high-quality solutions for Africa’s infrastructure needs. The forum took place during last week’s U.S.-Africa Business Summit, in Marrakech, Morocco. During the forum, USTDA and…

African Development Bank Group (AfDB)

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    • NEPAD-Infrastructure Project Preparation Facility and COMESA Secretariat launch market analysis for the Africa Cloud Ecosystem Project
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Source: African Development Bank Group (AfDB) |

NEPAD-Infrastructure Project Preparation Facility and COMESA Secretariat launch market analysis for the Africa Cloud Ecosystem Project

The signing ceremony for the project took place on 13 July 2022, followed by a workshop for representatives of both institutions

The Secretariat for the Common Market for Eastern and Southern Africa (COMESA) and the African Development Bank (www.AfDB.org) have launched phase one of the Africa Cloud Ecosystem Project, to be financed with a $550,000 grant from the NEPAD Infrastructure Project Preparation Facility Special Fund (https://bit.ly/3OzgvQ0) (NEPAD-IPPF) to support the market…

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

African Development Bank debars Entreprise de Commerce et de Construction Immobilière for nine months for fraudulent practices

An investigation established that Entreprise de Commerce et de Construction Immobilière engaged in fraudulent practices during a tender for the Rehabilitation of the CCIA Building and Tower B of the African Development Bank

The African Development Bank Group (www.AfDB.org), on 25 July 2022, announces the nine-month debarment of Entreprise de Commerce et de Construction Immobilière with effect from 27 June 2022. Entreprise de Commerce et de Construction Immobilière is a limited liability company registered under the laws of the Republic of Côte d'Ivoire.…

African Development Bank Group (AfDB)

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    • Invest in Africa, African Development Bank Chief Urges Investors at U.S.- Africa Business Summit
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Source: African Development Bank Group (AfDB) |

Invest in Africa, African Development Bank Chief Urges Investors at U.S.- Africa Business Summit

U.S. Administration pledges strong support

The President of the African Development Bank Group (https://www.AfDB.org/) Dr. Akinwumi Adesina has given strong assurance to U.S. investors that Africa is a secure, competitive and profitable market for investment. Adesina was speaking on Wednesday at the U.S.-Africa Business Summit in Marrakech where he told American investors to see Africa…

African Development Bank Group (AfDB)

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    • Africa50 general shareholders meeting in Morocco call for global investments in African infrastructure
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Source: African Development Bank Group (AfDB) |

Africa50 general shareholders meeting in Morocco call for global investments in African infrastructure

It is a first-rate institution, pushing the frontiers of development on infrastructure in Africa, preparing projects, taking them to commercial viability, and financing them

African Development Bank Group (www.AfDB.org) President and Chairman of the Africa50 (https://www.Africa50.com) Board of Directors, Dr. Akinwumi Adesina has highlighted the crucial role that Africa50 is playing to help bridge Africa’s infrastructure financing gap. Adesina was speaking at the opening session of Africa50’s general shareholders meeting in Marrakech on Tuesday.…

African Development Bank Group (AfDB)

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    • Fitch Ratings affirms African Development Bank at 'AAA'; Outlook Stable
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Source: African Development Bank Group (AfDB) |

Fitch Ratings affirms African Development Bank at 'AAA'; Outlook Stable

The Bank has launched game-changing initiatives for Africa

On July 13, the global credit rating agency Fitch Ratings affirmed the African Development Bank’s (www.AfDB.org) long-term credit rating (https://bit.ly/3zgbY0j): AAA with a Stable Outlook. This is a very strong endorsement of the African Development Bank’s financial strength and profile, as well as the extraordinary support of its shareholders. The…