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

Africa’s first Super Energy Service Company in Morocco gets $965,000 grant boost from African Development Bank’s Sustainable Energy Fund for Africa (SEFA)

Amid growing demand, Morocco aims to meet its energy needs by combining large-scale energy efficiency strategies and renewable energy investments

The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/37jYAtS) is providing a $965,000 grant to Morocco’s Société d’Ingénierie Energétique (SIE), to support its transition into the first Super Energy Service Company (ESCO) initiative in Africa. ​“This support from the African Development Bank will enable the operationalization of the…

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

African Development Bank, European Investment Bank sign Joint Partnership Action Plan to fast-track development in Africa

The Joint Action Plan was developed following an EIB delegation meeting with the African Development Bank in February 2020

The African Development Bank (AfDB) (www.AfDB.org) and the European Investment Bank (EIB) today signed a joint partnership action plan highlighting their strengthened cooperation and mutual development priorities and a strong shared emphasis on boosting public and private sector investment in Africa. The Joint Action Plan enables both institutions to grow…

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

Mauritius and Morocco join African Development Bank (AfDB/AFMISM) Bloomberg® bond index

The African Development Bank administers the ABABI, a family of African bond indices launched in February 2015 and calculated by the independent, global index provider Bloomberg

The African Development Bank (www.AfDB.org) today announced the addition of two new countries - Mauritius and Morocco - to its Bloomberg African Bond Indices (ABABI), marking a steady progress in the Bank’s efforts to deepen the continent’s local currency bond market. The African Development Bank administers the ABABI, a family…

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

Supporting Public Private Partnerships in Africa: African Development Bank ready to scale up

The African Development Bank estimates Africa’s infrastructure financing needs at up to $170 billion a year by 2025

Representatives of the African Development Bank (www.AfDB.org), governments, Development Finance Institutions, the private sector and  professional associations joined a September 8 workshop to discuss how the Bank can strengthen support for Public Private Partnerships and channel greater investment toward economic and social infrastructure. The event, titled Designing the African Development…

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

After COVID-19, will Africa Catch Up, Stand Still or Fall Further Behind? (By Professor Banji Oyelaran-Oyeyinka)

With this crisis comes an economic disruption of unprecedented proportion

At one time or another, nations and individuals confront crisis points – moments of existential challenge that also open up new possibilities. African countries, at just such a crisis point as a result of the novel coronavirus, face three possible outcomes post-pandemic: play catch-up, stand still or fall even further…

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

Affirmative Finance Action for Women in Africa, ImpactHER and UN Women Policy Brief exposes disadvantages to women entrepreneurs in post COVID-19 era, offers solutions

The coronavirus pandemic is wreaking economic havoc and hitting women the hardest, with women-led Small and Medium-sized Enterprises(SMEs) at greater risk of closure

Women-led businesses are more vulnerable to closure than those led by men in the era of the novel coronavirus, due to women’s limited access to finance, shifts in consumer behavior, and the increase in women’s household care responsibilities as a result of extended lockdowns. All across the continent, the coronavirus…

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

African Development Bank COVID-19 response: moving from commitment to action

As of June 12, the Bank’s COVID-19 emergency packages have reached the continent’s five geographic regions

The African Development Bank (https://www.AfDB.org) has responded swiftly to the needs of its member countries during the ongoing COVID-19 pandemic. The Bank’s operations have continued to run smoothly since the first cases appeared in early March, despite the wide range of lockdowns and measures imposed by governments to flatten the…

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

The “High 5s”: A strategic vision and results that are transforming Africa

Structural transformation is needed to create more jobs, reduce poverty and accomplish sustainable development objectives

For the past ten years, Africa has recorded some of the world’s strongest rates of economic growth. At the same time, many African economies continue to function at well below their full potential. Structural transformation is needed to create more jobs, reduce poverty and accomplish sustainable development objectives. The African…

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

African Development Bank appoints Nourredine Lafhel Acting Chief Risk Officer

An experienced risk management professional, Nourredine has more than twenty (20) years of experience in finance and risk management

The African Development Bank Group (www.AfDB.org) is pleased to announce the appointment of Mr. Nourredine Lafhel as Acting Chief Risk Officer, effective 6th April 2020. Lafhel, a Canadian national, is currently the Sovereign Credit and Market Risk Division Manager (PGRF3), in the Directorate of the Group Risk Management Function of the African Development Bank Group. An…

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…