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

African Development Bank launches new initiative to build financial acumen of African cities

The Municipal CFO Initiative was announced during the 9th Africities Summit held recently in Kisumu, Kenya

The African Development Bank (www.AfDB.org) and United Cities and Local Governments, a global umbrella group for local and metropolitan governments, have announced the launch of a new program to build the capacity of municipal chief financial officers across the continent. The Municipal CFO Initiative was announced during the 9th Africities…

African Development Bank Group (AfDB)

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    • Digital financial solutions are key to reducing the gender access-to-finance gap in Africa
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Source: African Development Bank Group (AfDB) |

We-Fi announces New Round of Funding for Women Entrepreneurs; $15 Million to the Africa Digital Financial Inclusion Facility to Improve Access to Finance for Women-owned Small Businesses

The funds will enable the Africa Digital Financial Inclusion Facility to design and implement programs to improve digital access to finance for women entrepreneurs

The Women Entrepreneurs Finance Initiative (We-Fi)  has announced a new round of funding under which the African Development Bank’s (www.AfDB.org) Africa Digital Financial Inclusion Facility (ADFI) will receive $15 million to develop and extend digital financial solutions to women-owned small and medium businesses in Cameroon, Egypt, Kenya, Mozambique and Nigeria. This…

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

African Development Bank debars Sino-Kenya Engineering Group Company Limited and Mr. Yuehua Bai for 36 months for fraudulent practices

During the debarment period, Sino-Kenya Engineering Group Company Limited and its affiliates as well as Mr. Yuehua Bai will be ineligible to participate in Bank Group-financed projects

The African Development Bank Group (AfDB.org), on 11 October 2021, announces the 36-month debarment of Sino-Kenya Engineering Group Company Limited and Mr. Yuehua Bai, its Managing Director, with effect from 19 August 2021. Sino-Kenya Engineering Group Company Limited is a limited liability company registered under the laws of the Republic…

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

African Development Bank debars Express Automation Limited for 36 months for fraudulent practices

During the debarment period, Express Automation Limited and its affiliates will be ineligible to participate in Bank Group-financed projects

The African Development Bank Group (AfDB.org), on 7 October 2021, announces the 36-month debarment of Express Automation Limited with effect from 18 August 2021. Express Automation Limited is a limited liability company registered under the laws of the Republic of Kenya. An investigation conducted by the Bank’s Office of Integrity…

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

African Development Bank debars Rockey Africa Limited, its affiliates and CEO for fraudulent practices

The debarments take effect from 5 August 2021

The African Development Bank Group (www.AfDB.org), on 29 September 2021, announces the 18-month debarment of Rockey Africa Limited and its affiliates including Aerospace Aviation, Eva-Top Agencies, Sony Commercial Agencies, Beta Trading Company and Madujey Global Services. The Bank has also debarred for 24 months, Mr. Robert Kamau Wachira, the Chairman…

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

African Development Bank’s SEFA grant to support first Super Energy Service Company (ESCO) in East Africa

The Super ESCO, to be run by the Kenya Power and Lighting Company, will develop and implement energy efficiency projects for both the public and private sectors

The Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/39fnc7x) has announced a $1 million grant to support the government of Kenya to create a Super Energy Service Company (ESCO). The Super ESCO, to be run by the Kenya Power and Lighting Company, will develop and implement energy efficiency projects for both…

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

African Development Bank partners with Alliance for a Green Revolution in Africa as sponsor of virtual African Green Revolution Forum (AGRF) Bank "Digital Delegation" to participate in more than a dozen AGRF events

The Government of Kenya and the AGRF Partners Group are hosting AGRF 2021, organized under the theme, Pathways to Recovery and Resilient Food System

The African Development Bank (www.AfDB.org) returns as a top-tier partner of the African Green Revolution Forum (AGRF) – Africa’s largest agriculture conference – to be held in a hybrid format 6-10 September 2021. The Bank has earmarked $100,000 to support this year’s annual AGRF, which will be headlined by African…

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

The Green Climate Fund approves $170.9m in co-financing for African Development Bank’s Leveraging Energy Access Finance Framework (LEAF) program

LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE) projects in six program countries

The Board of the Green Climate Fund (GCF) (www.GreenClimate.Fund) has approved $170.9 million in financing for the African Development Bank’s (www.AfDB.org) Leveraging Energy Access Finance Framework (LEAF) program. LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE)  projects in six program countries: Ghana, Guinea, Ethiopia, Kenya, Nigeria…

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

Covid-19: African countries win the race against time with testing laboratories

Daily testing capacity of African countries rose from 13,200 at the beginning of the epidemic to 105,000

In March 2020, Africa had its back to the wall, helpless in the face of the magnitude of a virus that appeared in Asia and quickly spread to the entire planet. Only two African countries were then able to test for the novel coronavirus: Senegal, with its Pasteur Institute, and…

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

Women-led Kenyan design house wins Fashionomics Africa sustainable design competition for turning fruit waste into eco-friendly footwear

Pine Kazi, which converts pineapple leaf and recycled rubber into fashionable footwear, won the $2,000 Fashionomics Africa competition cash prize

The African Development Bank’s (www.AfDB.org) Fashionomics Africa initiative has named a women-led Kenya shoe design house as the winner of its competition to support producers of sustainable fashion. Pine Kazi, which converts pineapple leaf and recycled rubber into fashionable footwear, won the $2,000 Fashionomics Africa competition cash prize. In addition,…