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African Development Bank Group (AfDB)

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    • The $7 million Trade Finance Transaction Guarantee Facility for NBS Bank will support Malawian small businesses
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Source: African Development Bank Group (AfDB) |

Malawi: African Development Bank approves USD 7 million Trade Finance Transaction Guarantee Facility for NBS Bank to support Small and Medium-size Enterprises and local corporates

The facility is expected to support about USD 40 million of trade over the next three years and promote intra-Africa trade in line with the aspirations of the Africa Continental Free Trade Area

The Board of Directors of the African Development Bank Group (www.AfDB.org) on Monday, 4 December 2023 approved a USD 7 million Trade Finance Transaction Guarantee facility for NBS bank in Malawi to support small businesses. This facility will provide 100% guarantee to international confirming banks (CBs) for the non-payment risk…

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    • The African Development Bank will contribute through the implementation of this project to improve access to electricity for people in Central and Northern Mozambique
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Source: African Development Bank Group (AfDB) |

Mozambique: African Development Bank grants $33 million to improve the electrical grid near borders with Malawi, Zambia and Zimbabwe

The grant is from the Transition Support Facility, a financial instrument of the Bank specifically for states undergoing transition

Meeting in Abidjan on 5 December 2023, the Board of Directors of the African Development Bank Group (www.AfDB.org/en) approved a grant of $33.25 million to Mozambique to implement the Songo-Matambo electricity transport line project. The grant is from the Transition Support Facility, a financial instrument of the Bank specifically for…

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    • Conference of Parties (COP 28): African countries sign on to join pioneering global battery energy storage consortium
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Source: African Development Bank Group (AfDB) |

Conference of Parties (COP 28): African countries sign on to join pioneering global battery energy storage consortium

African Development Bank joins initiative of the Global Leadership Council as resource partner

Several African countries have formally expressed interest to join the groundbreaking Battery Energy Storage Systems (BESS) Consortium, launched Saturday during COP28, which could revolutionise Africa’s energy landscape by developing advanced energy storage solutions through collaboration and innovation. Joining the BESS Consortium, a multistakeholder partnership initiative of the Global Leadership Council,…

African Development Bank Group (AfDB)

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    • The African Development Bank will contribute to a significant improvement in access to transport and energy for Malawians over the next five years (2023-2028)
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Source: African Development Bank Group (AfDB) |

Malawi: African Development Bank prioritizes energy, transport, water and agriculture in its country strategy for 2023-2028

The Bank will continue to deepen its engagement with Malawi to further consolidate development impacts as envisioned in “Malawi Vision 2063

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved the Country Strategy Paper (CSP) 2023-2028 for Malawi on 16 November 2023. The strategy focuses on two priority areas: improving economic infrastructure to develop the industrial sector by investing in energy, transport, water, sanitation, and hygiene, and supporting…

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    • Thousands of youths in Malawi have gained employment and some have even created jobs for their peer
    • Ngara Community Technical College
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Source: African Development Bank Group (AfDB) |

African Development Fund helps create thousands of jobs for youth in Malawi

The objective was to improve the employability of the country's youth — women and men — by providing them with decent work, thereby promoting their economic empowerment

Thousands of youths in Malawi have gained employment and some have even created jobs for their peers, thanks to a project supported by the African Development Bank (www.AfDB.org). The Jobs for Youth in Malawi project implemented between 2017 and 2022 has helped develop an entrepreneurial culture among young people, from…

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

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…

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

Malawi: African Development Bank gives financial sector a boost with new tools to support local corporates, SMEs and domestic trade

The aim of the engagement exercise was to sensitize industry leaders on how best the Bank can partner with the private sector in the country to increase access to finance and financial intermediation options

Members of the African Development Bank Group’s (www.AfDB.org) Financial Sector Development Department (trade finance division) have concluded a successful visit to Malawi aimed at strengthening engagement with the private sector and leading financial institutions. The team, led by the Bank’s Country Manager for Malawi, Macmillan Anyanwu, engaged with senior executives…

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

Malawi: African Development Fund signs $14.2 grant agreement for financial digitalization initiative

Funding for the Support DFIC project, approved last December, will be sourced from ADF, the Bank Group’s concessional financing window

The African Development Fund (ADF) and the government of Malawi have signed a grant agreement for $14.2 million to undertake infrastructure upgrades and create a more efficient and transparent digital payment system. Funding for the Support for Digitalization, Financial Inclusion and Competitiveness (DFIC) project, approved last December, will be sourced…

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) |

25 young African agripreneurs advance to ‘boot camp’ in the African Development Bank’s $120,000 AgriPitch Competition

The final round offers young entrepreneurs in Africa’s agricultural sector the opportunity to pitch their agribusiness proposals online to a panel of experts and investors who will select the winners

Twenty-five young African agripreneurs have advanced to the “boot camp” final round of the African Development Bank’s (www.AfDB.org) AgriPitch competition, stepping closer to a share of $120,000 in seed funding prizes, training and other benefits. The final round offers young entrepreneurs in Africa’s agricultural sector the opportunity to pitch their…