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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…

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

Africa Investment Forum exceeds expectations, participants unanimously agree

Adesina: “the needle is shifting, pointing to the right direction, pointing to Africa"

The curtain fell on a three-day marathon investment marketplace, on Friday, with transactions worth billions of dollars sealed. The Africa Investment Forum (www.AfricaInvestmentForum.com) ended on a high note with the closing panel comprising heads of Development Finance Institutions (DFIs) unanimously lauding the unique initiative, calling it an exceptional gathering that…

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

African Development Bank rolls out programme to boost climate risk financing and insurance for African countries

The programme’s initial phase is expected to run from 2019 to 2023

The African Development Bank (www.AfDB.org) has approved the Africa Disaster Risks Financing (ADRiFi) Programme, the institution’s first climate risk management programme to boost resilience and response to climate shocks in regional member countries. The comprehensive programme, open to regional member countries, will enhance their ability to evaluate climate-related risks and…

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

Green Climate Fund Board approves three African Development Bank proposals for Green Climate Projects worth over US$ 110 million

The program is further resourced by co-financing from the Bank, the European Union, the Global Environmental Facility, the Forestry Investment Programme of the Climate Investment Funds

The Board of the Green Climate Fund (GCF) has approved funding for three proposals from the African Development Bank (www.AfDB.org) totaling over US$110 million. The approvals were granted at the GCF’s 21st Board Meeting held October 17 – 20 2018 in Manama, Bahrain. Overall, the GCF Board, which was co-chaired…