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African Development Bank Group (AfDB)

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    • About 75% of African countries have access to the sea, which offers immense opportunities in the blue economy, with a global potential is estimated at about $1.5 trillion. Photo shows part of the coast in Cabo Verde
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Source: African Development Bank Group (AfDB) |

Natural capital, an option for African governments to finance Sustainable Development Goals

The continent contributes substantially to the world's annual production of six key minerals: 80% of platinum, 77% of cobalt, 51% of manganese, 46% of diamonds, 39% of chromium and 22% of gold

Africa must use all its comparative advantages to mobilize the resources it needs to finance its sustainable development ambitions. Since 2010, official development assistance has declined, falling to its lowest level of $34 billion in 2022, according to Organisation for Economic Co-operation and Development (OECD) estimates. Access to international capital…

African Development Bank Group (AfDB)

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    • A new AfDB report proposes solutions, including expanded access to finance, to support the livelihoods of Liberia’s small-scale and artisanal miners
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Source: African Development Bank Group (AfDB) |

Liberia: New African Development Bank study outlines steps to draw artisanal and small-scale miners into formal sector, boosting economy

The study draws on broad-based stakeholder consultations and a robust review and analysis of Liberia’s financial ecosystems

Expanding financial access for Liberia’s artisanal and small-scale mining sub-sector is feasible through formalization and de-risking measures, according to a recent study published by the African Development Bank (www.AfDB.org) and the Liberian government. According to the report, potential solutions to support the livelihoods of small-scale miners include setting up enabling…

African Development Bank Group (AfDB)

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    • The construction of a highway between Dakar and Saint Louis will open up Senegal’s northern regions, considered the country’s rice granary and an area with high mining potential.
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Source: African Development Bank Group (AfDB) |

Senegal: African Development Bank to Invest over €166 Million in Construction of Highway to Open Up the Country’s North

The financing comprises €119.69 million from the African Development Bank and €46.67 million from the Africa Growing Together Fund

The Board of Directors of the African Development Bank (http://www.AfDB.org), has approved a loan of €166.36 million to Senegal for construction of the Dakar-Tivaouane-Saint Louis highway, which will enhance access to the north of the country. The financing comprises €119.69 million from the African Development Bank and €46.67 million from…

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

Overcoming Binding Constraints to Competitive Manufacturing for Intra-Regional Trade

Lecture by Dr. Akinwumi A. Adesina President, African Development Bank Group Adeola Odutola Lecture, Manufacturers Association of Nigeria Annual Meeting, October 26, 2021, Abuja, Nigeria

PROTOCOLS I wish to thank you for inviting me to deliver this Annual Adeola Odutola Lecture. It is indeed an honor to be asked to speak at an event named after one of Nigeria’s foremost industry leaders. Chief Odutola, a former President of the Manufacturers Association of Nigeria, was a…

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

Dissecting Africa’s Covid-19 response in the extractives sector: diversification, enhancing local content, offer solutions

Several economies in Africa are sustained by the extractive industry, with most national budgets dependent on mining and petroleum exports

The African Development Bank’s (www.AfDB.org) African Natural Resources Centre (ANRC) and the African Legal Support Facility (ALSF) hosted a dialogue on responses by governments and the industry to the COVID-19 pandemic in the extractive sector, focusing on South Africa, Ghana, Nigeria, and Kenya. The session, held 21 October and moderated by ALSF Director…

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

“You have been in the trenches with us,” Ghana Vice President Mahamudu Bawumia tells African Development Bank

Ghana is looking to the Bank for investment in an integrated aluminium industry, using the country’s large bauxite deposit as raw materials

The African Development Bank’s (www.AfDB.org) support for the west African nation Ghana has boosted its government’s efforts to consolidate the economy, the country’s Vice President, Mahamudu Bawumia said on Monday. Bawumia, welcoming a team of Executive Directors and senior officials of the Bank on an official visit, cited various Bank-supported…

African Development Bank Group (AfDB)
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…

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

Africa Investment Forum: Family businesses - an underestimated economic driving force

Family businesses by nature often build lasting relationships, valuable in any investment climate

Family businesses are rarely viewed as a sector which could influence economic growth, but the Africa Investment Forum is recognising them as important players on the continent. For the first time at a conference of this nature, families running business empires have been given a platform to share their views…