Source: African Development Bank Group (AfDB) |

African Development Bank sponsored Off-Grid Energy Access Fund reaches final equity close with partner contributions

The African Development Bank is the fund’s anchor sponsor with a $30 million contribution, and $8.5 million from the Global Environment Facility (GEF)

The Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) has reached a final equity close with $59 million in committed equity capital and $36 million debt facilities, to support innovative, off-grid energy access companies. The final close, reached on 18 November 2019, was made possible through a $15…

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

Zambia: African Development Bank and partners improving sanitation for Lusaka’s low-income suburbs

The project is being executed under the Lusaka Sanitation Master Plan which aims to provide citywide sanitation services by 2035

“Sometimes, it looks to me like surgery in the belly of an ancient beast,” says Herbert Chinokoro, senior water and sanitation engineer at the African Development Bank’s Country Office in Lusaka, Zambia. He is describing the scene along the streets of the capital, Lusaka, where earthmovers and excavators were digging…

Source: African Development Bank Group (AfDB) |

African Development Bank and partners inaugurate Shango power substation in Rwanda to facilitate access to the regional electricity market

The Bank’s support to the energy sector has more than doubled over the past three years to the current level of 410.66 million euros

The African Development Bank (AfDB.org), Embassy of Germany in Rwanda and the KfW Development Bank joined the Government of Rwanda to inaugurate the high voltage 188 MVA Shango power substation in the capital Kigali and its related transmission network. The substation is part of the NELSAP Regional Interconnection Project involving…

Source: African Development Bank Group (AfDB) |

African Economic Conference 2019 – Participants Converge on Sharm El Sheikh to Debate Jobs, Skills and Capacity Development for Africa’s Youth

The three-day conference, from 2-4 December, brings together researchers, youth representatives, business leaders, policymakers and media representatives from Africa and around the globe

More than 350 stakeholders are converging on Sharm El Sheikh, Egypt, to participate in the 2019 African Economic Conference (AEC), with this year’s focus on jobs, skills and capacity development for Africa’s youth. The three-day conference, from 2-4 December, brings together researchers, youth representatives, business leaders, policymakers and media representatives…

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

Africa: Sports as a Business and a Brand – by Victor Oladokun

Fans are choosing not to watch live football events, and instead are opting in increasing numbers for the 'intimacy' of their crystal clear digital flat TV screens, or not all

By Dr. Victor Oladokun, is the Director of Communication and External Relations at the African Development Bank (www.AfDB.org) At the ongoing Africa Cup of Nations in Egypt, the visual imagery of  almost empty stadiums is a powerful narrative. But not the kind that African sports, African football, or corporate sponsors…

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

African Union Commission calls for further financial input for the New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund

The African Development Bank approved in June 2019 the allocation of UA 3 million from its 2018 Net Income to NEPAD-IPPF

The 29th Oversight Committee (OC) meeting of the New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund held at the headquarters of the African Union Commission in Addis Ababa, Ethiopia, has ended with calls for increased investments to accelerate the closure of Africa’s infrastructure gap. The meeting,…

Source: African Development Bank Group (AfDB) |

African Development Bank, Making Finance Work for Africa (MFW4A) and the German Cooperation (BMZ/GIZ) host International Workshop on Africa’s Trade Finance Market

The workshop, themed: “The Consolidation of International Correspondent Banking Relationships in Africa,” was attended by representatives of the main correspondent banks operating in Africa

The African Development Bank (www.AfDB.org), Making Finance Work for Africa (MFW4A) (www.MFW4A.org) and the German Cooperation (BMZ/GIZ) held a two-day international workshop in Frankfurt, Germany, to improve participants’ understanding of trade financing in Africa. The workshop, themed: “The Consolidation of International Correspondent Banking Relationships in Africa,” was attended by representatives…

Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank approves $15 million investment package for Infrastructure Credit Guarantee Company

This intervention will promote local currency infrastructure financing, and further development of the domestic capital market

The Board of the African Development Bank (www.AfDB.org) has approved a $15-million investment package to Infrastructure Credit Guarantee Company (InfraCredit), to support infrastructure financing through the domestic debt capital markets in Nigeria. The investment package to InfraCredit is comprised of a subordinated loan of $10 million and a risk sharing…

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

The African Development Bank pledges US$ 25 billion to climate finance for 2020-2025, doubling its commitments

Akinwumi A. Adesina said that the Bank would commit at least US$25 billion towards climate finance

Bank to launch ‘Green Baseload’ Facility to provide concessional finance to support reliable and affordable renewable energy baseload; “Desert to Power” initiative enters implementation stage with Yeleen Project in Burkina Faso. The African Development Bank (www.AfDB.org) will double its climate finance commitments for the period 2020-2025, the Bank’s President announced…

Source: African Development Bank Group (AfDB) |

Africa Investment Forum 2018: a new bold vision tilts capital flows into Africa

The Forum highlighted a solid pipeline of projects and wealth of opportunities ready for investors

“Vision is the art of seeing what is invisible to others,” a saying goes. When African Development Bank (www.AfDB.org) President Akinwumi Adesina laid out his vision to tilt the flow of capital into Africa by convening the first transaction-based investment forum, many did not see what was coming ahead. One…