African Development Bank Group (AfDB) / Press Release

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- Solomon Quaynor, African Development Bank Vice President (left), Alain Ebobissé, Africa50 CEO and Ithamar Capital CEO Obaid Amrane signing a letter of intent
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Source: African Development Bank Group (AfDB) | Jun 23, 2022

Africa50, African Development Bank and the Newly Launched African Sovereign Investors Forum Signal Strong Desire to Jointly Mobilize Capital for Infrastructure Projects

The three entities will work together to galvanize financing and to drive the development of skills and expertise within the infrastructure sector

The African Development Bank (www.AfDB.org), Africa50, and Africa Sovereign Investors Forum (ASIF), have signed a letter of intent to collaborate on developing green and climate resilient infrastructure projects across Africa. The three entities will work together to galvanize financing and to drive the development of skills and expertise within the…

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- AfDB is providing a $30 million loan that is expected to fund manufacturing enterprises in the SADC region like this cloth factory in Lesotho
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Source: African Development Bank Group (AfDB) | Jun 26, 2022

Botswana: Private sector development in Southern Africa region gets boost with approval of $30 million loan to Norsad Capital from African Development Bank Group

The project is aligned with a number of African Development Bank priorities, including its High-5 strategic priorities

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved a $30 million loan to Norsad Capital Limited (https://NorsadCapital.com) financing for businesses and to promote private sector development in the Southern Africa Development Community region. Norsad will channel a portion of the funding to enterprises operating in transition states…

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- Ahmed Attout, Manager for Capital Markets Development at the African Development Bank (left), Adama Coulibaly, Ivorian Minister of Economy and Finance, and Karim Diarassouba, CEO of the reinsurance company CICA-RE. The African Development Bank signed an investment agreement of roughly €10 million with CICA-RE
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Source: African Development Bank Group (AfDB) | Jun 12, 2022

African Development Bank to invest €10 million in reinsurance firm Conférence Interafricaine des Marchés d'Assurances (CICA-RE)

CICA-Re is the third regional reinsurance company in which the Bank has made an investment

The African Development Bank (www.AfDB.org) has signed an agreement to invest in the Joint Reinsurance Company of Member States of Conférence Interafricaine des Marchés d'Assurances (CICA-Re). Under the agreement, the African Development Bank will take a 6.56-billion FCFA stake (approximately €10 million) in CICA-Re and join its board of directors. Karim Diarassouba,…

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- The Africa Fertilizer Financing Mechanism of the African Development Bank is extending a $2 million partial trade credit guarantee to support fertilizer delivery to 200,000 Ghanaian smallholder farmers
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Source: African Development Bank Group (AfDB) | Jun 10, 2022

Ghana: Africa Fertilizer Financing Mechanism Extends $2M to ETG Inputs Ghana Limited to Boost Farmers’ Access to Fertilizers

ETG Inputs Ghana Limited, a subsidiary of agricultural conglomerate ETG, will enable delivery of 10,000 metric tons of fertilizer to wholesalers

The Africa Fertilizer Financing Mechanism (AFFM) will extend a $2 million partial trade credit guarantee to ETG Inputs Ghana Limited to support delivery of fertilizer to 200,000 smallholder farmers in Ghana’s Upper East, Savannah, Northeast, and Northern Regions. The move will ease the current shortages in supply and boost yields,…

Source: African Development Bank Group (AfDB) | Jun 10, 2022

Malawi: African Development Bank Extends Grants of $9.25 Million for Rollout of Climate Disaster Risk Financing

The funding will support the government of Malawi to develop climate risk management solutions and pay its sovereign risk premium for the transfer of drought risks under the Africa Disaster Risk Financing Programme

The Board of Directors of the African Development Bank (www.AfDB.org) has approved two grants of $9.25 million to implement the Africa Disaster Risk Financing Programme (ADRiFi) in Malawi. The move will boost the country’s resilience against climate-related shocks and food insecurity. The funding will support the government of Malawi to…

Source: African Development Bank Group (AfDB) | Jun 10, 2022

Africa Investment Forum showcases major projects, including $15.6 billion Abidjan-Lagos Highway

Among the transactions presented were four transport infrastructure deals and four transactions focused on energy and power

On the margins of the African Development Bank Group’s (www.AfDB.org) 2022 Annual Meetings, the Africa Investment Forum convened investors to promote the power of the platform to draw critical investment to the continent. The investor roundtable on 25 May came at a time when capital flows are in flux in…

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- State Minister Semereta Sewasew of the Ethiopian government’s Ministry of Finance and Kevin Kariuki, African Development Bank Vice President for Power, Energy, Climate & Green Growth, sign an agreement for $830,000 in technical assistance grant funding
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Source: African Development Bank Group (AfDB) | May 30, 2022

Ethiopia: African Development Bank signs $830,000 grant agreement to improve climate resilience for communities and ecosystems

The grant will contribute to the development of a climate-aligned water resources development plan and investment strategy for the Ziway-Shalla sub-Basin in Ethiopia’s central rift valley

The African Development Bank (www.AfDB.org) has signed an $830,000 technical assistance grant agreement for Ethiopia. The funds will help mainstream climate risk management, gender and resilience into economic planning and development in the country’s Ziway-Shallah sub-Basin. The signing took place on Thursday 26 May during the African Development Bank Group’s…

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- Hassatou N’sele, Acting Vice President for Finance and Chief Financial Officer, answering questions from moderator Simon Mizrahi on the Bank Group’s financial health
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Source: African Development Bank Group (AfDB) | May 30, 2022

African Development Bank reports strong financial health, despite Covid-19 crisis

The Bank Group unveiled its financial results in Accra, on the sidelines of its Annual Meetings

The African Development Bank Group (www.AfDB.org) is progressing with financial reforms that have helped it become stronger, more resilient, and better equipped in the wake of the Covid-19 crisis, the institution’s Senior Vice President Bajabulile Swazi Tshabalala said on Thursday. Addressing the Bank Group’s shareholders, Executive Directors, and partner agencies…

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- Ghana signs grant agreement with African Development Fund, government of Switzerland, to support development of mini-grids and solar PV net metering
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Source: African Development Bank Group (AfDB) | Jun 10, 2022

Ghana signs grant agreement with African Development Fund, government of Switzerland, to support development of mini-grids and solar PV net metering

The agreements, for the development of 35 mini-grids and stand-alone solar PV systems, were signed on Wednesday 25 May at a short ceremony held on the sidelines of the African Development Bank Group’s 2022 Annual Meetings

The government of Ghana has signed a grant agreement with the African Development Fund, and a financing agreement with the government of Switzerland, for the Ghana Mini Grid and Solar Photovoltaic Net Metering project. The project will benefit schools, health centres and communities across the country. The agreements, for the…

Source: African Development Bank Group (AfDB) | May 13, 2022

Is Africa ready for green growth? New report assesses Gabon, Kenya, Morocco, Mozambique, Rwanda, Senegal and Tunisia

The findings are based on nine strategic and operational dimensions, including political commitment, policy and planning, and financing & budgeting

A new report co-authored by the African Development Bank (www.AfDB.org) and the Global Green Growth Institute, has found evidence of growing political commitment to green growth in Africa. The Africa Green Growth Readiness Assessment Report was launched on Wednesday during a side-event at the 15th session of the Conference of…