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

Nigeria: African Development Bank Approves $100 Million to Support Youth and Women-led Micro, Small and Medium Enterprises (MSME)

Approval kickstarts rollout of Youth Entrepreneurship Investment Bank (YEIB) initiative in partnership with government of Nigeria

The African Development Bank (www.AfDB.org) has approved a $100 million loan to increase access to finance for youth and women-led small and medium enterprises, under the Nigeria Youth Entrepreneurship Investment Bank (YEIB) initiative. The Nigeria YEIB is a pioneering institution designed to foster economic growth and job creation in the…

African Development Bank Group (AfDB)

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    • AfDB Vice President Dr. Beth Dunford (r) at a and Mastercard Executive Vice President Tara Nathan at recent MADE Alliance Africa event
    • Dr. Beth Dunford, AfDB Vice President
    • AfDB Vice President Dr. Beth Dunford with smallholder farmers in Nigeria who are benefitting from Bank agricultural technologies
    • MADE Alliance Africa aims to connect millions of smallholder farmers and women in Africa with digital services
    • World Food Day: How the new Mobilizing Access to the Digital Economy (MADE) Alliance will use digital technologies to help farmers in Africa feed the continent
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Source: African Development Bank Group (AfDB) |

World Food Day: How the new Mobilizing Access to the Digital Economy (MADE) Alliance will use digital technologies to help farmers in Africa feed the continent

The African Development Bank aims to bring 3 million farmers in Kenya, Tanzania and Nigeria into the digital economy via Mastercard Community Pass

The African Development Bank Group (www.AfDB.org) and Mastercard are co-chairing a new initiative called Mobilizing Access to the Digital Economy (MADE) Alliance Africa, which aims to provide digital access to critical services for 100 million people and businesses in Africa over the next 10 years. In the first phase of…

African Development Bank Group (AfDB)

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    • Nigerian ministers gathered in Abuja with state representatives and other stakeholders to push for accelerated delivery of the SAPZ program in Nigeria. October 2024
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Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank and partners agree to fast-track implementation of Special Agro Industrial Processing Zones program

The agreement emerged from a two-day meeting in Abuja, on 7 – 8 October, attended by senior government and bank officials and representatives of financing partners and the private sector

The African Development Bank Group (www.AfDB.org) has reached an agreement with participating Nigerian state governments to speed up implementation of a program designed to develop eight new agro-industrial zones in the country. The agreement emerged from a two-day meeting in Abuja, on 7 – 8 October, attended by senior government…

African Development Bank Group (AfDB)

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    • African Development Bank Group Approves $500 Million Loan to Boost Electricity Access in Nigeria
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Source: African Development Bank Group (AfDB) |

African Development Bank Group Approves $500 Million Loan to Boost Electricity Access in Nigeria

New program to support development of 250GW of installed electricity capacity by 2050

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a loan of $500 million to the Federal Republic of Nigeria, to finance the first phase of the Economic Governance and Energy Transition Support Program (EGET-SP), a new program aimed at accelerating transformation of the country’s electricity…

African Development Bank Group (AfDB)

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    • Fifth from left: Prof Emeritus Olugbemiro Jegede; AfDB President Akinwumi Adesina; Primate of the Church of Nigeria (Anglican Communion) Most Rev Henry C. Ndukuba at the Council of Anglican Provinces of Africa retreat, where Adesina spoke on 'Food Security and Financial Sustainability in Africa'
    • AfDB President Akinwumi Adesina speaking on 'Food Security and Financial Sustainability in Africa' at the Council of Anglican Provinces of Africa retreat in Abuja
    • Most Rev. Henry C. Ndukuba, Primate of the Church of Nigeria (Anglican Communion), thanks AfDB President Akinwumi Adesina (to the left) for his lecture on 'Food Security and Financial Sustainability in Africa' at the CAPA retreat in Abuja
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Source: African Development Bank Group (AfDB) |

Nigeria’s food importation policy could destroy country’s agriculture, warns Akinwumi Adesina

Nigeria should be producing more food to stabilize food prices, while creating jobs and reducing foreign exchange spending

The President of the African Development Bank Group Dr. Akinwumi Adesina (www.AfDB.org) has said the decision by Nigeria’s government to allow massive food importation risks destroying the country’s agriculture. This follows the announcement by Nigeria’s Minister for Agriculture Abubakar Kyari on July 10 that the Federal Government would suspend duties, tariffs,…

African Development Bank Group (AfDB)

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    • African Development Bank Appoints Dr Babatunde Samson Omotosho as Director of Statistics Department (1)
    • African Development Bank Appoints Dr Babatunde Samson Omotosho as Director of Statistics Department (2) (FR)
    • African Development Bank Appoints Dr Babatunde Samson Omotosho as Director of Statistics Department (3) (PT)
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Source: African Development Bank Group (AfDB) |

African Development Bank Appoints Dr Babatunde Samson Omotosho as Director of Statistics Department

Dr Omotosho, a Nigerian national, has more than 21 years experience in developing data strategies to align with the strategic objectives of organisations

The African Development Bank (www.AfDB.org) has appointed Dr Babatunde Samson Omotosho, an economist and statistician, as Director of the Statistics Department, effective June 16, 2024. Dr Omotosho, a Nigerian national, has more than 21 years experience in developing data strategies to align with the strategic objectives of organisations. He also brings…

African Development Bank Group (AfDB)

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    • Director General of the African Development Bank's Nigeria Country Department, Lamin Barrow (left), and Chinua Azubike, CEO of InfraCredit, exchange the deed of agreement for a $15 million subordinated loan signed on June 14, 2024, to enhance infrastructure financing in Nigeria
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Source: African Development Bank Group (AfDB) |

CORRECTION - Nigeria: African Development Bank and Infrastructure Credit Guarantee Company Limited sign $15 million agreement to enhance infrastructure financing

InfraCredit is a specialized Nigerian credit guarantee company that mobilizes long-term capital from institutional investors to support infrastructure projects

The African Development Bank (www.AfDB.org) and Infrastructure Credit Guarantee Company Limited (InfraCredit) have signed an agreement for a $15 million subordinated loan facility to strengthen InfraCredit's capital base and attract institutional investors’ resources to help close Nigeria's infrastructure financing gap. Lamin Barrow, Director General of the African Development Bank's Nigeria Country…

African Development Bank Group (AfDB)

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    • Director General of the African Development Bank's Nigeria Country Department, Lamin Barrow (left), and Chinua Azubike, CEO of InfraCredit, exchange the deed of agreement for a $15 million subordinated loan signed on June 14, 2024, to enhance infrastructure financing in Nigeria
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Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank and Infrastructure Credit Guarantee Company Limited sign $15 million agreement to enhance infrastructure financing

InfraCredit is a specialized Nigerian credit guarantee company that mobilizes long-term capital from institutional investors to support infrastructure projects

The African Development Bank (www.AfDB.org) and Infrastructure Credit Guarantee Company Limited (InfraCredit) have signed an agreement for a $15 million subordinated loan facility to strengthen InfraCredit's capital base and attract institutional investors’ resources to help close Nigeria's infrastructure financing gap. Lamin Barrow, Director General of the African Development Bank's Nigeria…

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    • African Development Bank Group Appoints Lamin Barrow as Director General for West Africa Region
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Source: African Development Bank Group (AfDB) |

African Development Bank Group Appoints Lamin Barrow as Director General for West Africa Region

Barrow, a Gambian national, brings extensive experience and knowledge to his new role, having joined the African Development Bank in 2000

The African Development Bank Group (www.AfDB.org) has appointed Lamin Barrow, an economist, as the Director General for the West Africa Region, effective June 1, 2024. Barrow, a Gambian national, brings extensive experience and knowledge to his new role, having joined the African Development Bank in 2000. Before this appointment, he…

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

REISSUE: 2024 Annual Meetings: African Development Bank President Outlines Gains of Historic 2023 Dakar 2 Summit

Bank will invest $2.9 billion to support the Country Food and Agriculture Delivery Compacts; appoints Special Envoys to fast-track implementation

Since the Dakar 2 Summit (https://apo-opa.co/4bBfGm1), six African countries have set up Presidential-level Councils to drive implementation of the Country Food and Agriculture Delivery Compacts agreed at the summit, while another twelve countries are at various stages of establishing their councils. Presidential Councils have taken off in Tanzania, Democratic Republic of…