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

Africa Investment Forum 2019: Masai Ujiri urges African leaders to invest in sports, commissions two new “players”

We need to invest in sports; African talent is like gold and diamonds – Masai Ujiri

Masai Ujiri, President of the Toronto Raptors, made his second appearance at the Africa Investment Forum, renewing his call for African governments to invest in sports. Ujiri, the only President of National Basketball Association (NBA) of African origin in franchise history, has worked hard over the past year to scout…

Source: African Development Bank Group (AfDB) |

2019 African Investment Forum builds on 2018 successes, attracts growing international interest

A hundred and nine countries are represented at this year’s conference, 61 of which are not African, indicating growing international interest in the annual gathering

The Africa Investment Forum is making phenomenal progress in attracting interest from all over the world since launching at the Sandton Convention Centre last year. The value of boardroom transactions which will be negotiated this year will be considerably higher compared to $43bn in 2018. A hundred and nine countries…

Source: African Development Bank Group (AfDB) |

Africa can be world’s next economic hub if supported with right policies – Singapore’s Senior Minister tells lecture audience

Africa must spread its economic openness by strongly showcasing specialisation along the production value chain and invest more boldly in social foundations

With the right policies and linkages, Africa can become an indispensable global economic hub, Singapore’s Senior Minister Tharman Shanmugaratnam noted Tuesday, commending the continent’s diverse economic potential. Delivering this year’s Kofi A. Annan Eminent Speakers’ Lecture series at the African Development Bank headquarters in Abidjan, Shanmugaratnam outlined five strategies which…

Source: African Development Bank Group (AfDB) |

Horn of Africa countries launch regional initiative as peace dividend beckons, $15 billion investment on the cards

The initiative was formalized on 18 October, on the sidelines of the World Bank Group/International Monetary Fund (IMF) Annual Meetings in Washington DC

Five Horn of Africa countries have launched an initiative to forge closer economic ties, building on the improving political climate in the sub-region. The initiative was formalized on 18 October, on the sidelines of the World Bank Group/IMF Annual Meetings in Washington DC. The countries agreed on priority projects and…

Source: African Development Bank Group (AfDB) |

Extraordinary Meeting of African Development Bank Governors: "Make the right decision" for Africa to achieve its objectives, says Alassane Ouattara, President of Côte d'Ivoire

The message was well received by Adesina, who warmly welcomed the presence of President Ouattara, members of his Government, and shareholders

The President of the Republic of Côte d'Ivoire, Alassane Ouattara, on Thursday called on the Governors of the African Development Bank ( to "make the right decision" to enable the continent to achieve its development goals. President Ouattara made the remarks at the opening of the 5th extraordinary meeting of the…

Source: African Development Bank Group (AfDB) |

African Development Bank Group’s Board of Governors to hold fifth extraordinary meeting in Abidjan

The Board of Governors of the Bank represents the 80 members, including 54 countries of the African continent, and 26 across the Americas, Europe, the Middle East, and Asia

Who: Board of Governors of the African Development Bank Group What: 5th extraordinary meeting of the Board of Governors Where: Abidjan, Hotel Ivoire, Côte d’Ivoire When: 31 October 2019 The Board of Governors of the African Development Bank ( will hold its fifth extraordinary meeting on Thursday, 31 October 2019, at…

African Development Bank Group (AfDB)
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    • L to R: Joohoon Kim, Chargé d’ Affaires of the Republic of Korea in Angola; Moono Mupotola, the Bank’s Director for Regional Development & Regional Integration; Joffre Van-Dúnem Júnior, Minister of Commerce; Sérgio dos Santos, Secretary of State for Economy; Joseph Ribeiro, the Bank’s Country Manager for Angola
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Source: African Development Bank Group (AfDB) |

African Development Bank Funds Angola Initiative to Improve Business Environment and Diversify Exports

With regional integration, countries such as Angola have the opportunity to buttress trade with its neighbours, hence realizing the structural transformation that is needed to step up to the global stage

The Angolan Government has launched a study funded by the Bank through the KOAFEC trust fund to support the improvement of export diversification and the business environment. The launch event was attended by the Bank’s director for regional development and regional integration, Moono Mupotola, the Bank’s country manager for Angola,…

Source: African Development Bank Group (AfDB) |

Equatorial Guinea signs Lusophone Compact: new milestone in initiative to accelerate sustainable private sector development

The Portuguese Government has allocated Euro 400 million in guarantees and other risk sharing mechanisms in the 2019 national budget to support the implementation of the Compact

The African Development Bank ( and the governments of Equatorial Guinea and Portugal have signed a country-specific memorandum of understanding for the implementation of the Lusophone Compact, which aims to accelerate private sector development in Portuguese-speaking countries of Africa, known as PALOPs. Equatorial Guinea is the sixth and final PALOP country…

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

African Development Bank and partners launch pilot Cities Diagnostics tool in five cities

The tool includes key environmental and urban sustainability indicators as well as disaster risk and vulnerability, and urban footprint growth

“The urban opportunities far outweigh the challenges,” said Prof. Davis G. Mwamfupe, the Mayor of Dodoma, Tanzania, during his message to the Cities Leadership workshop, launching the City Diagnostics for five pilot cities in Africa, held on the 25th and 26th September 2019 in Abidjan. Five cities were chosen for…

Source: African Development Bank Group (AfDB) |

United Nations General Assembly (UNGA) 2019: Young Africans will “produce the magic” says AU chief as the UN sounds warning on Sustainable Development Goals

The Bank has invested more than $150 million in building technology hubs in Rwanda, Senegal and Cabo Verde

Leaders should devise an “incentive structure” to promote a startup culture among young Africans. “I think they will produce the magic,” Albert Muchanga, the African Union’s Commissioner for Trade and Industry, told a gathering on infrastructure at the United Nations on Wednesday. Muchanga said colleagues were working to “harmonise our…