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

Nigeria: African Development Bank Group, MTN sign $500,000 grant agreement to study women’s access to financial services

The research, which includes a feasibility study, women-focused design and testing, will focus on both agents and customers to provide insights into women’s use of mobile money services

The African Development Bank (AfDB.org) has signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a fintech subsidiary of MTN Nigeria, to be used for a study into economic, religious, and social factors hampering access to finance for women in northern Nigeria. The research, which includes a…

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

African Development Bank Group President Akinwumi Adesina assures Nigeria of Bank’s strong support to achieve food security

Dr. Adesina and the Nigerian minister discussed means of tackling growing concerns about the country’s food security

The President of the African Development Bank Group (www.AfDB.org), Dr. Akinwumi Adesina, received a high-level Nigerian delegation led by the country's Minister of Agriculture and Rural Development, Dr. Mohammad Mahmood Abubakar on Monday. The meeting follows on the heels of an address by Dr. Adesina last week at a mid-term…

African Development Bank Group (AfDB)

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Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank President conferred with Leadership Person of the Year Award 2020 - Leadership Newspaper Group

The award was given “in recognition of his impeccable public service record and extra-ordinary accomplishments in driving the growth and development of the African Development Bank Group”

The President of the African Development Bank Group (www.AfDB.org), Dr. Akinwumi A. Adesina, has received the Leadership Person of the Year award from the Leadership Newspaper Group in Nigeria. The award was given “in recognition of his impeccable public service record and extra-ordinary accomplishments in driving the growth and development…

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

CORRECTION - Nigeria: Federal and state governments endorse Special Agro-industrial Processing Zones Programme: African Development Bank and partners to mobilize $520 million for Phase 1

The participants provided progress updates on the scheme, following their consultations with key stakeholders within the public and private sectors

Nigeria’s Federal and State governments have expressed overwhelming support for an initiative to create Special Agro-industrial Processing Zones (SAPZ) - public-private partnerships aimed at developing priority value chains through developing infrastructure in rural areas, focused on finishing and transforming raw materials and commodities. At a high-level briefing session held on…

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

Nigeria: Federal and state governors endorse Special Agro-industrial Processing Zones Programme: African Development Bank and partners to mobilize $520 million for Phase 1

Special Agro-industrial Processing are a flagship initiative of the Bank’s ‘Feed Africa’ strategic priority

Nigeria’s Federal and State governments have expressed overwhelming support for an initiative to create Special Agro-industrial Processing Zones (SAPZ) - public-private partnerships aimed at developing priority value chains through developing infrastructure in rural areas, focused on finishing and transforming raw materials and commodities. At a high-level briefing session held on…

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

African Development Bank debars Sargittarius Nigeria Limited and its affiliates for 18 months for fraudulent practices

The debarment renders Sargittarius Nigeria Limited and its affiliates ineligible to participate in Bank Group-financed projects during the debarment period

The African Development Bank Group (www.AfDB.org), on 17 August 2021, announces the 18-month debarment of Sargittarius Nigeria Limited and its affiliates, including Sargittarius Henan Water Conservancy Engineering Limited, with effect from 28 July 2021. Sargittarius Nigeria Limited is a limited liability company registered in the Federal Republic of Nigeria. An…

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

International Youth Day: How winners of the Bank’s AgriPitch competition are helping to transform Africa’s food system

The Forum instills a culture of innovation and nurturing for technology-led agribusiness innovations to create jobs and improve youth livelihoods

As the world observes International Youth Day, Africa is producing a growing number of young entrepreneurs who are adopting new ideas to bring more affordable, quality food from farm to fork. This year’s theme is “Transforming Food Systems: Youth Innovation for Human and Planetary Health”, putting the spotlight on the…

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

African Development Bank scoping study identifies opportunities for private sector participation in Africa’s climate agenda

The study was produced in partnership with the Fund for African Private Sector Assistance and launched during a virtual African Development Bank webinar held on 1 July 2021

A recently published African Development Bank (www.AfDB.org) scoping study on implementing NDCs in Africa recommends that development financial institutions and other investors focus on high-impact, high-growth potential start-ups that can drive climate-related innovation. The study, NDC implementation in Africa through green investments by private sector - A Scoping Study, was…

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

Nigeria: African Development Bank bolsters women-empowered businesses with $50 million loan to FCMB bank

FCMB is a Nigerian commercial bank with around 5 million customers

The Board of Directors of the African Development Bank (www.AfDB.org) has approved a loan of $50 million to Nigeria’s First City Monument Bank (FCMB) to channel to local enterprises and women-empowered businesses in the agribusiness, manufacturing, healthcare and renewable energy sectors. Thirty percent of the funds, which are intended to…

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

The Green Climate Fund approves $170.9m in co-financing for African Development Bank’s Leveraging Energy Access Finance Framework (LEAF) program

LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE) projects in six program countries

The Board of the Green Climate Fund (GCF) (www.GreenClimate.Fund) has approved $170.9 million in financing for the African Development Bank’s (www.AfDB.org) Leveraging Energy Access Finance Framework (LEAF) program. LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE)  projects in six program countries: Ghana, Guinea, Ethiopia, Kenya, Nigeria…