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

G5 Sahel heads of State throw their weight behind African Development Bank initiative Desert to power

Bank commits $20 million towards project preparation for the realization of the project

G5 Sahel heads of state at a Summit on Friday in Ouagadougou, Burkina Faso, gave strong support to Desert to Power, an Africa Development Bank (https://www.AfDB.org/) -led initiative. The summit, "Harnessing solar energy for the socio-economic development of the G5 Sahel countries" came on the heels of a high-level technical…

African Development Bank Group (AfDB)

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Source: African Development Bank Group (AfDB) |

Niger: African Development Bank President attends historic African Union summit, decries child marriage

Whilst in Niamey, Adesina also participated in a high-level panel on combatting child marriage, organized on the sidelines of the summit

The president of the African Development Bank (https://www.AfDB.org), Akinwumi Adesina joined continental leaders in Niger for an African Union summit which saw the official launch of the African Continental Free Trade Area agreement – the world’s largest free trade area since the formation of the World Trade Organization. The agreement,…

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

AU Summit: President Adesina to lead African Development Bank’s delegation, Continental Free Trade Area talks to top summit agenda

The Bank will also participate in the meetings of the 37th NEPAD Heads of state and Government Orientation Committee

African Development Bank Group (www.AfDB.org) President Akinwumi Adesina will next week lead a delegation of top Bank officials to the extraordinary summit of Heads of State and Government of the African Union (AU) in Niger’s capital, Niamey. High on the agenda of the July 7-8 summit are discussions on the…

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

Central Africa could be the continent’s rising star, thanks to the African Continental Free Trade Area

Central Africa’s real income could increase by as much as 7% in one of the scenarios that researchers describe in the 2019 African Economic Outlook

Central Africa stands to benefit the most from the African Continental Free Trade Area (AfCFTA), data from the African Development Bank (www.AfDB.org) shows. Hanan Morsy, Director of Research at the Bank, revealed the findings at the launch of one of the Bank’s flagship reports in Malabo, where the African Development…

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

Donors pledge $17 million to Africa Solidarity Trust Fund at African Development Bank Annual Meetings side event

The donor conference was attended by the presidents of Mauritania, Guinea Bissau, the prime minister of Eswatini and several high-ranking diplomats, ministers and development and banking institutions

African and non-regional donors on Tuesday pledged $17 million to replenish the Africa Solidarity Trust Fund, an initiative which aims to provide food security and eliminate rural poverty on the continent. The pledges were made at a high-level donor round table convened by the United Nations Food and Agriculture Organisation…

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

African Development Bank and Niger sign financing agreement to support Kandadji project

The implementation of the "Kandadji" project will take six years (2019-2025) and involves the completion of a multi-purpose dam that will create a real development hub

The Republic of Niger and the African Development Bank (www.AfDB.org) on Tuesday signed a $128.8 million financing agreement to support the "Kandadji" project for the regeneration of ecosystems and the development of the Niger Valley (PA-KRESMIN). Nigerien Minister of Planning Aïchatou Kane Boulama, who signed on behalf of Niger’s Government,…

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

Global partners announce $61.8 million allocation to boost African Development Bank initiative for women entrepreneurs

“This substantial support from the Women Entrepreneurs Finance Initiative, We-Fi, will help us scale up our actions and achieve greater results for women entrepreneurs across the continent” - Vanessa Moung

The Governing Committee of the Women Entrepreneurs Finance Initiative (We-Fi) has approved a funding allocation of $61.8 million for the African Development Bank’s (https://www.AfDB.org/en/) Affirmative Finance Action for Women in Africa (AFAWA) (https://bit.ly/2Q1fF1L) program. We-Fi (https://We-Fi.org/) is a partnership among 14 donor governments, eight multilateral development banks, and other public and…

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

Integrity in Development Projects: African Development Bank Debars ALG GLOBAL CONCEPT and its Managing Director for 36 Months, for Fraudulent Practices

The Office of Integrity and Anti-Corruption of the African Development Bank found the company and its Managing Director to have engaged in several fraudulent practices

The African Development Bank Group (www.AfDB.org) on January 23, 2019, announces the debarment of ALG Global Concept Nigeria Limited, a construction company registered in Nigeria and its Managing Director, Mr. Abuharaira Labaran Gero, for a period of 36 months. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption…

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

Huge desert solar initiative to make Africa a renewables power-house

Solar projects stretching across the Sahel region are expected to connect 250m people with electricity by tapping into the region’s abundant solar resource

The details of the “Desert to Power Initiative” have been outlined as part of the Paris Agreement climate change talks at COP24 in Katowice, Poland this week. Energy poverty in Africa is estimated to cost the continent 2-4 % GDP annually, according to the African Development Bank (AfDB) (www.AfDB.org), which…

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

Africa Investment Forum 2018: a new bold vision tilts capital flows into Africa

The Forum highlighted a solid pipeline of projects and wealth of opportunities ready for investors

“Vision is the art of seeing what is invisible to others,” a saying goes. When African Development Bank (www.AfDB.org) President Akinwumi Adesina laid out his vision to tilt the flow of capital into Africa by convening the first transaction-based investment forum, many did not see what was coming ahead. One…