Source: African Development Bank Group (AfDB) |

“Our goal is to surpass developed countries,” African Development Bank VP tells fourth industrial revolution forum

The event attracted Ivorian and regional ministers as well as officials, senior Bank staff and private sector executives

Africa is not only ready for the fourth industrial revolution. It is set to outdo the achievements of the developed world. That was one of the messages that emerged at a seminar hosted by the African Development Bank (AfDB.org) at its headquarters in Abidjan. The event attracted Ivorian and regional…

Source: African Development Bank Group (AfDB) |

African Development Bank Director Hanan Morsy named one of Egypt’s 50 most influential women

Dr Hala El Said, Egypt’s Minister of Planning and Economic Development, gave the award on 5 February in a ceremony organized under auspices of the Egyptian Prime Minister

The Director of Macroeconomic Policy, Forecasting and Research at the African Development Bank (https://www.AfDB.org/), Dr Hanan Morsy, has been named one of Egypt’s 50 most influential women. Dr Hala El Said, Egypt’s Minister of Planning and Economic Development, gave the award on 5 February in a ceremony organized under auspices…

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

African Economic Outlook 2020: Africa’s economy forecast to grow despite external shocks

The slower than expected growth is partly due to the moderate expansion of the continent’s “big five” — Algeria, Egypt, Morocco, Nigeria, and South Africa

For the first time in a decade, investment expenditure rather than consumption accounts for more than half of GDP growth; report calls for urgent investment in education and infrastructure for good returns in long-term GDP; “Youth unemployment must be given top priority. With 12 million graduates entering the labor market…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank approves $22 million to expand leasing financing to corporates and SMEs

The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole

The Board of the African Development Bank (www.AfDB.org) on Wednesday approved a $22 million Senior Loan to help Egypt’s Corporate Leasing Company (Corplease) expand its operations in the North African country. The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole. The Bank…

Source: African Development Bank Group (AfDB) |

British Prime Minister, African Leaders urge Investors to accelerate Economic Role on the Continent

The UK-Africa Investment Summit, the first of its kind hosted by the UK Government, was attended by the foreign secretary, Dominic Raab, the international development secretary, Alok Sharma, and Prince Harry

UK companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel. At an oversubscribed opening ceremony for the 2020 UK-Africa Investment Summit, Monday, attended by dignitaries and delegates from 16 African countries, including President…

Source: African Development Bank Group (AfDB) |

Sudan: African Development Bank approves $60 million loan to support Elnefeidi Group’s agricultural expansion

The loan is expected to contribute significantly to food security, food import substitution, and household incomes by creating jobs and increasing local productivity and distribution

The African Development Bank’s (www.AfDB.org) Board of Directors has approved a $60m loan to Elnefeidi Group Holding Company to help finance its long-term agriculture and food expansion programme. The planned expansion includes increasing agricultural productivity, enhancing related infrastructure, food processing and distribution. It will directly contribute in developing Sudan’s livestock…

Source: African Development Bank Group (AfDB) |

Egypt: African Development Bank board approves €109 million to transform sewage coverage in Upper Egypt rural areas

The initiative is in line with the Bank’s water sector policy, which promotes efficient, equitable and sustainable development through integrated water resources management

The Board of Directors of the African Development Bank (https://www.AfDB.org/) has approved a €109 million facility for the development of sewage disposal and wastewater treatment plants for rural areas in Luxor Governorate in Egypt’s Upper Nile region. The Integrated Rural Sanitation in Upper Egypt – Luxor (IRSUE-Luxor) project is set…

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

African Development Bank’s digital skills training benefits women

The goal is to expand the program to 130 centres of excellence across Africa over a 10-year period

After graduating from the University of Ibadan in Nigeria with a degree in Communication and Language Arts in 2016, Olashile Odetola could not find a job. But an online learning program piloted by the African Development Bank has given her two “gifts”: digital skills and a sense of confidence. Odetola,…

Source: African Development Bank Group (AfDB) |

25th United Nations Climate Change conference (COP 25): ‘Africa’s future depends on solidarity’ Leaders and development partners rally around climate change goals

Speakers called for a united front to tackle the challenges of climate change in Africa

There was standing room only as ministers, diplomats, activists and journalists gathered at the IFEMA conference centre in Madrid to mark Africa Day at the COP 25 climate meeting. Speakers called for a united front to tackle the challenges of climate change in Africa. In the opening statement for Africa…

Source: African Development Bank Group (AfDB) |

African Development Bank and African Union to roll-out a continent-wide electricity market Masterplan

The Masterplan also will inform the energy component of a Programme for Infrastructure Development (PIDA) Action Plan

The African Development Bank (AfDB.org) and the African Union Development Agency (AUDA-NEPAD) have agreed to jointly develop a blueprint for a pan-continental electricity network and market. The agreement to set up a Continental Power System Master Plan between the Bank and AUDA-NEPAD was unveiled, on November 29th, during a three-day…