Source: African Development Bank Group (AfDB) |

African Development Bank launches record breaking $3 billion “Fight COVID-19” Social Bond

Landmark transaction, largest Social bond transaction to date in capital markets

The African Development Bank (AfDB) (www.AfDB.org) has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies.   The Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and…

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    • Trading thrives as new highway financed by the African Development Bank opens up northern Togo (1)
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Source: African Development Bank Group (AfDB) |

Trading thrives as new highway financed by the African Development Bank opens up northern Togo

The 120-metre Alemondji bridge was built as part of the renovation of the roads on the CU9 corridor linking Lomé, Cinkansé and Ouagadougou

Every Tuesday, Alemondji market in northern Togo swarms with people. Amid the throng, Burkinabe and Ghanaian traders offer clothes and kitchen utensils for sale. Others, calling out their wares, come from the nearby towns of Lawagnon, Moreta and Issati. Their stalls overflow with peanuts, millet, sorghum, sesame and beans. "Just…

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

New dawn for Somalia: Arrears owed to the African Development Bank Group cleared

The Bank Group will immediately provide a new policy-based operation to help boost economic growth and accelerated development of Somalia

Arrears on loans owed by Somalia to the African Development Bank (www.AfDB.org) Group have been cleared following the payment in full of $122.55 million by the governments of the United Kingdom and the European Union, marking the end of sanctions and the resumption of full re-engagement between the Bank Group…

Source: African Development Bank Group (AfDB) |

Seychelles: African Development Bank Supports Blue Economy with $800k Fund for African Private Sector Assistance (FAPA) grant

The country’s Blue Economy Strategic Policy and Road map prioritizes the development of new and emerging maritime sectors

The African Development Bank (www.AfDB.org) has signed an $800,000 grant agreement with the government of Seychelles to support micro, small and medium enterprises (MSMEs) in its Blue Economy sector.  The package will help Seychelles develop its marine biotechnology sector, strengthen the capacity of public institutions and private operators, create a…

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Source: African Development Bank Group (AfDB) |

In Cameroon, new seed varieties help cocoa crops bloom and farmers thrive

A new seed variety called “Brazilian cacao” is now widely in use, providing far better yields to Cameroonian farmers

Antoine Mani Tonye sinks his thumb into the red soil to gauge how deep to plant the next seedling. The Cameroonian cocoa farmer has seen healthy yields and an improvement in his income since he began planting a locally adapted seed variety developed in a laboratory in the capital Yaounde.…

Source: African Development Bank Group (AfDB) |

African Development Bank to provide underserved communities in Nigeria with sustainable energy solutions

The project, which will be implemented by Nigeria’s Rural Electrification Agency, is a boost to efforts to achieve the target of universal energy access by 2030

The African Development Bank (www.AfDB.org) and the Government of Nigeria have launched the National Electrification Project (NEP), to address critical energy access deficits by channeling private sector investments into mini grid and off-grid solutions. The project, which will be implemented by Nigeria’s Rural Electrification Agency, is a boost to efforts…

Source: African Development Bank Group (AfDB) |

African Development Bank Debars Beulah Universal Link Resources Limited And Bluestream Systems And Device Limited For Fraudulent Practices

While participating in a tender for construction and rehabilitation of water reservoirs contracts, the companies misrepresented their qualifications for the contracts

The African Development Bank Group (https://www.AfDB.org/) on 17 March 2020, announces the debarment of Beulah Universal Link Resources Limited for 36 months and Bluestream Systems and Device Limited for 12 months. Both companies are registered in Nigeria. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that…

Source: African Development Bank Group (AfDB) |

Making Finance Work for Africa Partnership (MFW4A): Call for Essays on Financial Sector Development

The call for essays aims to foster a better understanding of the issues challenging financial sector development in Africa

The Making Finance Work for Africa Partnership (MFW4A) invites researchers and students enrolled in an academic institution to submit an essay on the African financial sector. The call for essays aims to foster a better understanding of the issues challenging financial sector development in Africa and to gather thoughts, opinions…

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

Africa Fertilizer Financing Mechanism launches $2.2 mill project in Nigeria to boost fertilizer supply to 200,000 farmers

The trade credit guarantee project is AFFM’s first in the West African nation and will involve 10 fertilizer suppliers, 12 hub agro-dealers and 120 retail agro-dealers

The Africa Fertilizer Financing Mechanism (AFFM) has kick-started a $2.2 million project to provide fertilizer suppliers in Nigeria with financial support to improve supply for 200,000 smallholder farmers. The trade credit guarantee project is AFFM’s first in the West African nation and will involve 10 fertilizer suppliers, 12 hub agro-dealers…

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Source: African Development Bank Group (AfDB) |

Sierra Leone to count on African Development Bank to help build resilient economy, restore self-sufficiency in rice production

Sierra Leone also sought the Bank’s support for the implementation of its free quality education programme

Sierra Leone will look to the African Development Bank (www.AfDB.org) to stimulate agribusiness development in the country with a focus on rice production, its president Maada Bio told a visiting delegation led by its president Akinwumi Adesina. Adesina began a two-day visit to Sierra Leone on Wednesday, during which he…