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

Flying ‘sky-high’: African Development Bank Annual Meetings conclude with consensus on regional integration

Around 2,000 delegates gathered in Malabo, Equatorial Guinea, to discuss ways to fast-track regional integration

The African Development Bank (www.AfDB.org) on Friday concluded its Annual Meetings, amid growing consensus that regional integration is imperative to a new phase in African prosperity. Around 2,000 delegates gathered in Malabo, Equatorial Guinea, to discuss ways to fast-track regional integration after the milestone African Continental Free Area (AfCFTA) was…

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

Despite challenges, Africa's debt is still under control says African Development Bank

In 2018, the Bank earned $214 million in allocable income, 48% of which has been reinvested in the institution to reinforce reserves and its business growth capacity

The African Development Bank (www.AfDB.org) remains strong with growing operating revenues and allocable income generated since 2010 reaching $2.5 billion, the Bank Group’s Treasurer, Hassatou Diop N'sele, stated on Thursday. In 2018, the Bank earned $214 million in allocable income, 48% of which has been reinvested in the institution to…

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

Switzerland gives 3.2 million Swiss francs to African Development Bank’s ‘Boost Africa’ E-Lab and urban development fund

‘Boost Africa’ was launched in partnership with the African Development Bank and the European Investment Bank to enhance entrepreneurship and innovation across Africa

The State Secretariat for Economic Affairs of the Government of the Swiss Confederation (SECO) and the African Development Bank (www.AfDB.org) on Thursday signed two agreements to fund African initiatives on the sidelines of the Bank’s 2019 Annual Meetings. SECO contributed 3 million Swiss francs to the Entrepreneurship Lab (E-Lab) for…

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

African leaders share their vision for an integrated continent

The leaders spoke during a high-level presidential dialogue on day two of the African Development Bank’s 2019 Annual Meetings

Leaders from four African countries on Wednesday shared their vision for an integrated and borderless Africa that would foster economic growth and development. The leaders spoke during a high-level presidential dialogue on day two of the African Development Bank’s (www.AfDB.org) 2019 Annual Meetings. The panelists – President Teodoro Obiang Nguema…

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

“To integrate Africa, bring down the walls,” Adesina urges at 2019 African Development Bank Annual Meetings Open in Malabo

Adesina urged African governments to work toward the elimination of non-tariff barriers

African leaders on Wednesday underscored the urgent need to fast-track the continent’s regional integration process in order to accelerate Africa’s economic transformation. The call was made at the opening ceremony of the Bank’s 2019 Annual Meetings, in Malabo, Equatorial Guinea, with the theme: “Regional Integration for Africa’s Economic Prosperity.” “Apart…

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

Central Africa could be the continent’s rising star, thanks to the African Continental Free Trade Area

Central Africa’s real income could increase by as much as 7% in one of the scenarios that researchers describe in the 2019 African Economic Outlook

Central Africa stands to benefit the most from the African Continental Free Trade Area (AfCFTA), data from the African Development Bank (www.AfDB.org) shows. Hanan Morsy, Director of Research at the Bank, revealed the findings at the launch of one of the Bank’s flagship reports in Malabo, where the African Development…

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

Donors pledge $17 million to Africa Solidarity Trust Fund at African Development Bank Annual Meetings side event

The donor conference was attended by the presidents of Mauritania, Guinea Bissau, the prime minister of Eswatini and several high-ranking diplomats, ministers and development and banking institutions

African and non-regional donors on Tuesday pledged $17 million to replenish the Africa Solidarity Trust Fund, an initiative which aims to provide food security and eliminate rural poverty on the continent. The pledges were made at a high-level donor round table convened by the United Nations Food and Agriculture Organisation…

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

Annual Meetings of the Boards of Governors of the African Development Bank Group 11 - 14 June, 2019

The Governors of the African Development Bank are from the 54 African regional member countries and 27 non-regional member countries

Regional Integration for Africa's Economic Prosperity WHAT: The 54th Meeting of the Boards of Governors of the African Development Bank and the 45th Annual Meeting of the African Development Fund WHERE: Sipopo Conference Centre, Malabo, Equatorial Guinea WHEN: 11 - 14 June, 2019 The 54th Meeting of the Boards of…

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

Nigeria: Investors say African Development Bank’s Special Agro-Industrial Processing Zones will drive agricultural revolution

SAPZs are designed to concentrate agro-processing activities within areas of high agricultural potential in order to increase productivity and competitiveness

Senior Nigerian government officials and key investors have endorsed the African Development Bank’s (www.AfDB.org) Special Agro-Industrial Processing Zones (SAPZ) initiative, describing it as a pathway to Africa’s agricultural revolution. SAPZs are designed to concentrate agro-processing activities within areas of high agricultural potential in order to increase productivity and competitiveness. The…

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

We-Fi Regional Summit Calls for Urgent Public and Private Sector Action to Support Women Entrepreneurs in West Africa

The Summit concluded with a joint Call to Action

Heads of state, ministers, leaders of multilateral development banks, private sector executives, women entrepreneurs, and contributing governments of the Women Entrepreneurs Finance Initiative (We-Fi) convened today at the first We-Fi Regional Summit to discuss concrete ways to strengthen support for women-led small and medium-sized enterprises (SMEs) in West Africa. Attended…