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African Development Bank Group (AfDB)

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    • West Africa: African Development Bank's (AfDB) Sustainable Energy Fund Africa to provide $10 million anchor investment in Arm-Harith Investment Fund for Sustainable Infrastructure
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Source: African Development Bank Group (AfDB) |

West Africa: African Development Bank Group's (AfDB) Sustainable Energy Fund Africa to provide $10 million anchor Investment in Arm-Harith Investment Fund for Sustainable Infrastructure

By investing in sustainable infrastructure and energy transition projects and emphasising innovation and first-of-a-kind developments, the Fund is expected to generate significant environmental, economic, and social benefits

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $10 million concessional equity investment in the ARM-Harith Successor Infrastructure Equity Fund to increase access to reliable electricity and modern transportation infrastructure as well as energy-efficient technologies in Nigeria and the wider West Africa region. The…

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

African Academy of Sciences Conference charts new path for continental scientific renaissance

The four-day event, themed "Empowering and Advancing Africa's Scientific Enterprise," features prominent voices in African science and development policy

The African Academy of Sciences (AAS) 15th Bi-Annual General Assembly and Scientific Conference opened with powerful calls for African scientific sovereignty and renewed investment in the continent's research capabilities. The four-day event, themed "Empowering and Advancing Africa's Scientific Enterprise," features prominent voices in African science and development policy. The 15th…

African Development Bank Group (AfDB)

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    • Nigeria’s Special Agro-industrial Processing Zones (SAPZ) Phase II, Boosted with a Whopping $2.2 billion Investment Interest at the Africa Investment Forum (AIF) 2024
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Source: African Development Bank Group (AfDB) |

Nigeria’s Special Agro-industrial Processing Zones (SAPZ) Phase II, Boosted with a Whopping $2.2 billion Investment Interest at the Africa Investment Forum (AIF) 2024

SAPZ Nigeria Phase II is underway to expand to an additional 24 States in Nigeria in the next 3 years and will link Nigeria's agriculture to agro-industrialization to drive economic growth

The African Development Bank Group (www.AfDB.org) facilitated $2.2 billion in capital mobilization for its transformative Special Agro-Industrial Processing Zones Nigeria Phase II project during the Africa Investment Forum. At a packed presidential boardroom on Wednesday 4th December, governors from Nigerian States, leaders from multilateral development organizations, the diplomatic corps as…

African Development Bank Group (AfDB)

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    • AfDB Vice President, Dr. Beth Dunford (c), with Dr. Olasupo Olusi, Bank of Industry’s Managing Director/CEO (l), and African Guarantee Fund Group Chief Executive Officer, Jules Ngankam (r) at the signing ceremony
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Source: African Development Bank Group (AfDB) |

African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative teams with African Guarantee Fund, Bank of Industry for $50 million financing agreement targeting Nigerian small and medium enterprises

The new deal will support women-led businesses via the AFAWA Guarantee for Growth program, which makes financing available for women entrepreneurs through de-risking and technical assistance measures

The African Development Bank Group’s (www.AfDB.org) Affirmative Finance Action for Women in Africa (AFAWA) program is lending its support to a new $50 million financing agreement to provide financial and business support to Nigeria’s women-led enterprises. The African Guarantee Fund and Bank of Industry signed the $50 million loan portfolio…

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…