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African Development Bank Group (AfDB)

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    • Registration Opens for the 2024 African Economic Conference
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Source: African Development Bank Group (AfDB) |

Registration Opens for the 2024 African Economic Conference

This year’s conference will provide a platform for African countries to address pressing economic challenges and strengthen their resilience to growing global pressures

Registration is now open for the 2024 African Economic Conference (AEC), a flagship event co-hosted by the African Development Bank (www.AfDB.org), the United Nations Economic Commission for Africa (ECA), and the United Nations Development Programme (UNDP). Taking place in Gaborone, Botswana, from 23 to 25 November, the conference will bring…

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

Speech Delivered by Dr. Akinwumi A. Adesina, President and Chairman, Boards of Directors, African Development Bank Group at the High-Level Event, 29th Conference of the Parties (COP 29) “Measuring the Green Wealth of Nations: Natural Capital and Economic Productivity in Africa”

When the value of Africa’s vast forest and environmental services, and natural capital, are properly valued, the size of its rebased GDP taking this into account will be much higher

Your Excellency, President Sassou Nguesso, President of the Republic of Congo Your Excellencies, Heads of State and Government Your Excellencies, Vice Presidents, Prime Ministers Your Excellencies, ladies and gentlemen. I wish to thank you all for taking the time to be here today for the Heads of State High-Level Dialogue…

African Development Bank Group (AfDB)

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    • African Development Bank Group and JICA sign landmark 51.67 billion Japanese yen (US$421 million) concessional donor loan to boost the African Development Fund. Japan, October 2024
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Source: African Development Bank Group (AfDB) |

Japan boosts African Development Fund with Japanese yen (JPY) 51.67 billion concessional loan

Additional resources to drive much-needed development in Africa's least-developed and fragile countries

The African Development Bank Group (www.AfDB.org) and the Japan International Cooperation Agency (JICA) have signed a landmark 51.67 billion Japanese yen (US$421 million) concessional donor loan (CDL) agreement towards the African Development Fund.   The loan, pledged by the Japanese government at the 16th general replenishment of the resources of the…

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

South Africa: African Development Bank and Absa unveil multi-billion rand financial package to expand sustainable capital markets, boost economic growth for women and youth

Absa is collaborating with the African Development Bank to enhance skills among both Absa staff and women business owners

The African Development Bank (www.AfDB.org) and Absa Group, one of Africa's leading financial services providers, today celebrated a landmark agreement to mark the execution of a transformative financial package aimed at increasing funding for underserved segments, across South Africa and the continent. The target audience includes women-owned businesses, youth entrepreneurs,…

African Development Bank Group (AfDB)

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    • Angolan President João Manuel Lourenço(right) shakes hands with AfDB head Dr. Akinwumi Adesina who paid an official visit on September 20, 2024
    • President Akinwumi Adesina on site at the Science and Technology Park (STP)
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Source: African Development Bank Group (AfDB) |

African Development Bank pledges more support for Angola’s rapidly reforming economy

African Development Bank will support Angola’s request for a two-year budget support operation of about $160 million for 2024, with a second tranche scheduled for 2025

In recent talks between Angola’s President João Manuel Lourenço and African Development Bank Group (www.AfDB.org) head Dr Akinwumi Adesina, the two leaders discussed a wide range of measures introduced by the Angolan government to rapidly transform the economy. The reforms include diversifying away from oil, promoting private sector, tackling the…

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    • The budget support granted to Madagascar will help create a better regulatory framework to promote investment and improve the business environment in sectors that create jobs
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Source: African Development Bank Group (AfDB) |

The African Development Bank Group grants over $67 million to Madagascar to relaunch its economy and improve governance in its energy sector

The loan from the African Development Fund, the Bank Group’s concessional financing window, includes funding from the Transition Support Facility

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of $67.3 million to Madagascar on 20 September 2024 to implement the first phase of its economic growth-inducing Financial Management and Resilience Support Programme for 2024-2025. The loan from the African Development Fund, the Bank Group’s…

African Development Bank Group (AfDB)

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    • African Development Bank president praises Saudi Arabia for billions of dollars of investment in Africa
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Source: African Development Bank Group (AfDB) |

African Development Bank president praises Saudi Arabia for billions of dollars of investment in Africa

Projects the country has financed range from irrigation to produce food, dams for energy, hospitals for mothers and their babies, electricity to light up schools and enhance learning, airports and roads to link countries, counties and communities

Dr Akinwumi Adesina, the president of the African Development Bank Group (www.AfDB.org), has praised Saudi Arabia for its generous “support, dedication and friendliness” to Africa where it is supporting a host of projects touching virtually all aspects of people’s everyday life on the continent.  Adesina was speaking at the Saudi…

African Development Bank Group (AfDB)

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    • Figure 1. Total government and tax revenue in Africa since 2010 (Source: African Economic Outlook (AEO) 2024)
    • Figure 2. Minimum, maximum, and average tax-to-GDP ratios in Africa, 2015-2025 (Source: Authors’ computation based on the African Economic Outlook (AEO) 2024 database)
    • Figure 3. Comparison between tax-to-GDP ratios required for structural transformation and tax capacity in selected African countries (Source: Authors’ computation based on the African Economic Outlook (AEO) 2024 database)
    • Figure 4. VAT efficiency revenues (in billion US$) by African country (Source: Authors’ computation based on the African Economic Outlook (AEO) 2024 database)
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Source: African Development Bank Group (AfDB) |

Make Domestic Resource Mobilization Work for Africa’s Structural Transformation (By Adamon Mukasa and Anthony Simpasa)

The implementation of the United Nations’ Agenda 2030 for sustainable development and the African Union’s Agenda 2063 hinges on Africa’s ability to mobilize sufficient and timely financial resources

By  Adamon Mukasa and Anthony Simpasa The implementation of the United Nations’ Agenda 2030 for sustainable development (https://apo-opa.co/4g2kWSb) and the African Union’s Agenda 2063 (https://apo-opa.co/4767Ak0) hinges on Africa’s ability to mobilize sufficient and timely financial resources. The recently released African Economic Outlook (AEO) 2024 (https://apo-opa.co/3yWpFEs) report by the African Development Bank…

African Development Bank Group (AfDB)

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    • Figure 1: Average SDG composite index in Africa and other world regions, 2000-2022
    • Figure 2. Estimated annual financing gap to fast-track structural transformation in Africa by 2030
    • Figure 3: Estimated annual financing gap (percent of GDP) for structural transformation by African countries, 2024-2030
  • Documents (8)
    • Scaling up financing is key to accelerating Africa's structural transformation (By Adamon Mukasa and Anthony Simpasa)
    • Agreement establishing the African development bank 2016 edition
    • African Economic Outlook 2018
    • AEB volume 11 issue 3 mobilizing domestic resource in africa for inclusive growth
    • FSDR 2023 Overview
    • Innovative Finance for Private Sector Development in Africa Economic Report on Africa 2020
    • DSA list
    • Our Common Agenda Policy Brief 6 Reforms to the International Financial Architecture
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Source: African Development Bank Group (AfDB) |

Scaling up financing is key to accelerating Africa's structural transformation (By Adamon Mukasa and Anthony Simpasa)

Financing Africa's transformation is a multi-layered overarching challenge that demands special attention and a pragmatic approach to move from billions to trillions

By Adamon Mukasa and Anthony Simpasa, African Development Bank Group (www.AfDB.org). Document 1: http://apo-opa.co/4g3EVzM Document 2: http://apo-opa.co/473xTHm Document 3: http://apo-opa.co/4gcshPk Document 4: http://apo-opa.co/4gcsi5Q Document 5: http://apo-opa.co/471DE8y Document 6: http://apo-opa.co/4gcskL0 Document 7: http://apo-opa.co/47361TE Document 8: http://apo-opa.co/4dXk53t The calls for structural economic transformation in Africa date back to the 1960s when newly independent nations aimed to eliminate poverty through economic…

African Development Bank Group (AfDB)

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    • Upcyclers, a web-based marketplace digitalizing the e-waste value chain, is a Ghanaian enterprise selected as one of 30 beneficiaries in the first cohort of the African Development Bank-supported AfriCircular Innovators Programme
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Source: African Development Bank Group (AfDB) |

African Development Bank’s AfriCircular Innovators Programme names 30 small and medium enterprises to receive assistance to scale up circular economy solutions

MSMEs represent 80 percent of Africa's businesses, while the circular economy in Africa has the potential to generate 11 million jobs

The African Development Bank-supported (www.AfDB.org) AfriCircular Innovators Programme has selected 30 small and medium enterprises to receive financing and technical assistance to scale up circular economy (https://apo-opa.co/3SZxikc) initiatives. This inaugural cohort, drawn from Cote d’Ivoire, Ghana and Rwanda, participated in an online onboarding event on August 9, 2024. The AfriCircular…