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Source: African Development Bank Group (AfDB) |

Social safety nets, community spirit help South African mother through Covid-19 crisis

About 2.6 million South Africans have lost their jobs since the pandemic hit

Around 40 km outside Cape Town, Leebah Bessick wipes sweat from her forehead as she digs a pitchfork into the earth at a neighbourhood community garden. It’s an unseasonably hot day here at Blackheath Secondary School and even a shady corner of the garden offers Bessick and the other gardeners…

Source: African Development Bank Group (AfDB) |

Sahel region: the African Development Bank pledges to mobilise $6.5 Billion in support of the Great Green Wall Initiative

The Great Green Wall’s plan is to plant an 8,000 km long and 15 km wide mosaic of trees, grasslands, vegetation and plants across the Sahara and Sahel

The Sahel region's Great Green Wall Initiative received a major boost from the African Development Bank (www.AfDB.org) on Monday. During a forum hosted by French President Emmanuel Macron and His Royal Highness the Prince of Wales, the Bank pledged to assist in mobilising up to $6.5 billion over five years,…

Source: African Development Bank Group (AfDB) |

African Development Bank Board approves People Strategy for 2021-2025

The strategy seeks to tap the Bank’s human capital – its most valuable resource – to deliver, through the institution’s projects, optimal development results for the people of Africa

The Bank’s Board (www.AfDB.org) has approved a new People Strategy for the next five years, designed to enhance the Bank’s standing as the continent’s premier development institution. The strategy seeks to tap the Bank’s human capital – its most valuable resource – to deliver, through the institution’s projects, optimal development…

Source: African Development Bank Group (AfDB) |

Uganda: African Development Bank grants $500,000 for capacity development of Micro, Small and Medium Enterprises (MSMEs) within the petroleum sector

The project aims to support inclusive private sector growth and the creation of an estimated 500 jobs along the pipeline

The African Development Bank (www.AfDB.org) and the Government of Uganda have signed a $500,000 grant agreement for financing of Micro, Small and Medium Enterprises (MSMEs) to boost business linkages on the East African Crude Oil Pipeline Technical Assistance project. The project’s overall objective is to help develop capacity of local…

Source: African Development Bank Group (AfDB) |

Closing Speech by Dr. Akinwumi A. Adesina President, African Development Bank Group, 2020 Annual Meetings African Development Bank Group August 27, 2020

The 2020 Annual Meetings of the African Development Bank have been exciting, intense, and rich in debate and dialogue!

Honorable Niale Kaba, Chairperson of the Board of Governors Your Excellencies, Governors Members of the Board of Directors Senior Management and Staff of the African Development Bank (www.AfDB.org) Ladies and Gentlemen The 2020 Annual Meetings of the African Development Bank have been exciting, intense, and rich in debate and dialogue!…

Source: African Development Bank Group (AfDB) |

2020 Annual Meetings of the African Development Bank: a renewed commitment to economic resilience in Africa

The highlights of the 2020 sessions are the election of the Bank Group’s president and the statutory meetings of its Governors

The 55th Annual Meetings of the African Development Bank (www.AfDB.org) and the 46th meetings of the Board of Governors of the African Development Fund (ADF) began in Abidjan, Côte d’Ivoire, on Wednesday, 26 August 2020. In his opening speech, the President of Côte d’Ivoire, Alassane Ouattara, highlighted the unusual context of…

Source: African Development Bank Group (AfDB) |

Post COVID-19: Rebuilding Africa and strengthening its resilience against future economic shocks (By Charles Leyeka Lufumpa)

By Charles Leyeka Lufumpa, Acting Chief Economist and Vice President for Economic Governance and Knowledge Management at the African Development Bank Group

After demonstrating its resilience during the Ebola outbreak and the global financial crisis, Africa is once again facing a severe test of its strength and agility because of the coronavirus pandemic. The good news is that the continent has entered this crisis in reasonably good shape following decades of progression…

Source: African Development Bank Group (AfDB) |

Regional Integration as a Tool for Wealth Creation in Africa (By Khaled Sherif)

There is a need to focus on fundamentals: producing more of what Africa consumes, and consuming more of what Africa produces

The COVID-19 pandemic and its health and economic impacts has forced a global rethink of the current multilateral framework and what it means for the future. For Africa, COVID-19 has served as a wake-up call in many ways. The mitigation measures that were put in place by most countries, globally,…

Source: African Development Bank Group (AfDB) |

‘Africa’s outlook is positive,’ African Development Bank tells Indian investors and officials

The African Development Bank and India have a long-standing strategic partnership dating back almost 40 years to 1982

The groundwork has been laid for Indian investors who are looking to invest in Africa. During a recent virtual conference hosted by the Confederation of Indian Industry (CII) and its partners, officials called for Indo-African partnerships to go beyond government-to-government cooperation and promote private sector participation in order to accelerate…

Source: African Development Bank Group (AfDB) |

Awakening the entrepreneurial spirit of every young African is key to continent’s future, development leaders agree

The webinar, themed Investing in Africa’s Future: Youth Empowerment Through Entrepreneurship, invited a range of private and public sector representatives to discuss the challenges young African entrepreneurs face

The African Development Bank (www.AfDB.org) joined a number of development leaders in calling for greater support of youth entrepreneurship during a virtual event organized by the Tony Elumelu Foundation. The webinar was timed to coincide with International Youth Day, which fell on Wednesday 12 August, 2020. “Africa is young, and…