Source: African Development Bank Group (AfDB) |

African Development Bank’s first virtual business opportunities seminar of 2021, draws 450 global partners and suppliers

Delegates were informed about the Bank’s strategy for supporting economic growth, its priority areas, rules and procedures for project and corporate procurement

The African Development Bank (www.AfDB.org) hosted its first virtual business opportunities seminar (BOS) of 2021 on 6 and 7 April. The BOS seminars offer a one-stop shop for companies, civil contractors, manufacturers, consultants, and suppliers from the Bank Group’s regional and non-regional members seeking to provide goods and services to…

Source: African Development Bank Group (AfDB) |

Women-led Kenyan design house wins Fashionomics Africa sustainable design competition for turning fruit waste into eco-friendly footwear

Pine Kazi, which converts pineapple leaf and recycled rubber into fashionable footwear, won the $2,000 Fashionomics Africa competition cash prize

The African Development Bank’s (www.AfDB.org) Fashionomics Africa initiative has named a women-led Kenya shoe design house as the winner of its competition to support producers of sustainable fashion. Pine Kazi, which converts pineapple leaf and recycled rubber into fashionable footwear, won the $2,000 Fashionomics Africa competition cash prize. In addition,…

Source: African Development Bank Group (AfDB) |

African Continental Free Trade Area (AfCFTA): Free trade bloc can be a game changer for African people and business

The African Development Bank is actively supporting or looking to support initiatives to boost trade and improve livelihoods for Africans

Exploring strategies to deepen private sector participation in the implementation African Continental Free Trade Area (AfCFTA) was the highlight of a panel session during the 2021 WTO Aid-for-Trade Stocktaking meeting. The African Development Bank (www.AfDB.org), the United Nations Industrial Development Organization (UNIDO) and International Trade Centre (ITC) organized the session held…

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

The African Development Bank to introduce first women beneficiaries of AFAWA Guarantee for Growth program

The AFAWA Guarantee for Growth program targets financial institutions to increase their appetite to lend to women who are known to be better payers

In celebration of International Women’s Day, and to mark the rollout of the Affirmative Finance Action for Women in Africa (AFAWA) Guarantee for Growth program, the African Development Bank (www.AfDB.org) and the African Guarantee Fund are showcasing the first beneficiaries of the AFAWA Guarantee for Growth program – an innovation…

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

Africa’s first Super Energy Service Company in Morocco gets $965,000 grant boost from African Development Bank’s Sustainable Energy Fund for Africa (SEFA)

Amid growing demand, Morocco aims to meet its energy needs by combining large-scale energy efficiency strategies and renewable energy investments

The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/37jYAtS) is providing a $965,000 grant to Morocco’s Société d’Ingénierie Energétique (SIE), to support its transition into the first Super Energy Service Company (ESCO) initiative in Africa. ​“This support from the African Development Bank will enable the operationalization of the…

Source: African Development Bank Group (AfDB) |

African Development Bank debars Global Interjapan (Kenya) Limited for 36 months for fraudulent practices

Global Interjapan (Kenya) Limited engaged in fraudulent practices during a tender for the Bank-financed Small Scale Irrigation and Value Addition Project in Kenya

The African Development Bank Group (AfDB.org), on 16 February 2021, announces the 36-month debarment of Global Interjapan (Kenya) Limited with effect from 24 August 2020. Global Interjapan (Kenya) Limited is a civil engineering company registered in Kenya. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that…

Source: African Development Bank Group (AfDB) |

African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA), African Guarantee Fund, partner to unlock $1.3 - $2 billion in loans to women entrepreneurs

Financial institutions in Cameroon, Democratic Republic of Congo, Kenya, Rwanda, Tanzania and Uganda are signing on to the program

The African Development Bank’s (www.AfDB.org) Affirmative Finance Action for Women in Africa (AFAWA) program has agreed a partnership with the African Guarantee Fund (AGF) to unlock $1.3 to 2 billion in loans to women-owned Small and Medium Sized Enterprises (SMEs) in Africa, by working with financial institutions to enhance their…

Source: African Development Bank Group (AfDB) |

African Development Bank and Mozambique LNG Area 1 Project win Multilateral Deal of the Year Award for $24 billion global syndicated finance

The project will exploit Mozambique’s immense offshore natural gas reserves, which can potentially transform global energy markets

The Mozambique Liquefied Natural Gas (LNG) Area 1 Project and the African Development Bank (www.AfDB.org) have jointly received the prestigious Global Multilateral Deal of the Year 2020 award by the print and online publication Project Finance International (PFI). The project, the single largest foreign direct investment in Africa to date…

Source: African Development Bank Group (AfDB) |

African Development Bank, FAO and South Sudan’s government ink protocols for $14 million grant to boost agricultural markets

The Agricultural Markets, Value Addition and Trade Development project aims to enhance agricultural productivity and boost the marketing and trade of agricultural products

The African Development Bank (www.AfDB.org) on Wednesday signed protocols to disburse a $14 million grant to the Government of South Sudan to boost agricultural markets in a project to be implemented by the UN’s Food and Agriculture Organization (FAO). The Agricultural Markets, Value Addition and Trade Development (AMVAT) project aims…

Source: African Development Bank Group (AfDB) |

U.K Africa Investment Summit: Renewable energy critical driver of Africa’s post-COVID-19 growth recovery and economic prosperity, Panel says

The panel covered discussion of British innovation and experience in the context of partnering with Africa to advance its economic development

Renewable energy will be a critical driver of Africa’s post-COVID-19 growth recovery and economic prosperity,  panelists in a 2021 UK Africa Investment Summit event said Wednesday, as they called for a stronger partnership between the United Kingdom and  Africa. The panel, themed UK & Africa: Partnering in Sustainable and Resilient…