Source: African Development Bank Group (AfDB) |

African Development Bank President Adesina confident of “very promising future” for continent

The Bank expects growth of 4% this year and 4.1% in 2020

"The future of our continent is looking very promising indeed," African Development Bank Group (www.AfDB.org) President Akinwumi Adesina declared in the opening words of his address to diplomats  at a lunch organised today, Tuesday, in Abidjan. Adesina referred to the Bank’s recent flagship publication, the African Economic Outlook 2019 (https://bit.ly/2yXn4pr), which noted that…

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

African Development Bank, Economic Community Of West African States Commission (ECOWAS), sign agreement for study on Abidjan-Lagos Corridor Highway

The proposed Abidjan-Lagos Corridor Highway, a six-lane (3-lane dual) motorway, will connect the countries via Ghana (Accra), Togo (Lomé) and Benin (Cotonou)

The African Development Bank (www.AfDB.org) and the Economic Community Of West African States Commission (ECOWAS) have signed an agreement for a study into a 1,000 kilometre highway linking Cote d’Ivoire’s commercial capital Abidjan, to Lagos in Nigeria, marking a new step in building regional integration and trade. The proposed Abidjan-Lagos…

Source: African Development Bank Group (AfDB) |

African road safety leadership program kicks off in Abidjan

The program, which runs till 8th February, is intended to develop leadership capabilities in road safety planning, implementation, management, and operations; and ultimately help reduce the number of road crashes on the roads of Africa

The second Road Safety Leadership Program organized by the Africa Transport Policy Program (SSATP, an international partnership hosted by the World Bank) (www.SSATP.org), in collaboration with the African Development Bank (www.AfDB.org), kicked off at the Bank’s Headquarters in Abidjan on 4th February. The program, which runs till 8th February, is…

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

Senegal: New African Delivery Units Network launched

Its purpose is to provide a unique platform for peer learning and sharing of best practices and expertise in the field

The African Delivery Units Network, a unique platform for government delivery units across the continent, has been launched in the Senegalese capital Dakar. The new network, spearheaded by the African Development Bank (www.AfDB.org) and the President Delivery Unit of Senegal (Bureau Operational de Suivi du Plan Senegal Emergent), was launched…

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…

Source: African Development Bank Group (AfDB) |

African Development Bank approves US$14.12 million to support Nigeria’s membership in African Trade Insurance (ATI) Agency

Once membership formalities in ATI are finalized, Nigeria could benefit from gross political and commercial risk insurance cover on total investments and trade amounting to over US$ 5 billion by 2020

The African Development Bank Group (www.AfDB.org), through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency (ATI). This is a critical and mandatory step to enable ATI commence its operations in Nigeria. Nigeria, as Africa’s…

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…

Source: African Development Bank Group (AfDB) |

African Economic Conference (AEC2018): Moving the Africa Free Trade Area agreement ahead with quick win solutions

The African Continental Free Trade (AfCFTA) area aims to create a single continental market for goods and services, with free movement of business persons and investments

A total of 44 African nations signed the landmark African Continental Free Trade agreement earlier this year, with only 12 out of the required 22 countries ratifying the accord, but policy makers say there is time enough - and practical solutions - to move the process ahead. The African Continental…

Source: African Development Bank Group (AfDB) |

African Development Bank to play bigger role in African economies by investing in infrastructure private equity

The Bank’s investment will also ensure the highest environmental and social standards are applied to Africa Infrastructure Investment Fund (AIIF3)

The Board of Directors of the African Development Bank (www.AfDB.org) has approved its third equity investment of US$40 million in Africa Infrastructure Investment Fund (AIIF3), a closed-ended pan-African infrastructure fund managed by South Africa-based Africa Infrastructure Investment Managers (AIIM). AIIM is one of Africa’s most experienced infrastructure fund managers. The…

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…