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African Development Bank Group (AfDB)

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    • Lamin Barrow, The African Development Bank’s Director General for Nigeria and Yemisi Edun, FCMB’s Managing Director
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Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank, First City Monument Bank sign agreement for $50 million line of credit to bolster access to finance for small, medium and women-owned businesses

The project is expected to improve access to finance for at least 50 enterprises: 29 in the agribusiness and manufacturing sectors, 9 in renewable energy and 13 in the healthcare industry

The African Development Bank (www.AfDB.org) has signed an agreement with First City Monument Bank (FCMB) for a $50 million line of credit to support access to finance for small and medium-sized and women-empowered enterprises. FCMB will use the line of credit to expand lending activities that will boost the country’s…

African Development Bank Group (AfDB)

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    • Nigeria’s Vice President, Prof. Yemi Osinbajo (fifth left) unveils a set of commemorative postage stamps for the Special Agro-Industrial Processing Zones Program in Nigeria in Abuja (1)
    • Nigeria’s Vice President, Prof. Yemi Osinbajo (fifth left) unveils a set of commemorative postage stamps for the Special Agro-Industrial Processing Zones Program in Nigeria in Abuja. (2)
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Source: African Development Bank Group (AfDB) |

African Development Bank and Partners Launch $520 Million Special Agro-Industrial Processing Zones to Transform Nigeria’s Agriculture

“There is no reason for anyone to go hungry in Nigeria,” Dr. Akinwumi A. Adesina

Nigeria on Monday began its long journey to end hunger and achieve food security by launching the Special Agro-industrial Processing Zones (SAPZ), a programme initiated by the African Development Bank (www.AfDB.org). According to the President of the African Development Bank, Dr. Akinwumi Adesina “the Special Agro-industrial Processing Zones are new…

African Development Bank Group (AfDB)

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    • (Left to right) Managing Director, First City Monument Bank (FCMB), Yemisi Edun, and Director General, African Development Bank, Nigeria Country Department, Lamin Barrow, after they signed a USD 50 million Loan Agreement for a Line of Credit in favour of FCMB, in Lagos, on Monday (1)
    • (Left to right) Managing Director, First City Monument Bank (FCMB), Yemisi Edun, and Director General, African Development Bank, Nigeria Country Department, Lamin Barrow, after they signed a USD 50 million Loan Agreement for a Line of Credit in favour of FCMB, in Lagos, on Monday (2)
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Source: African Development Bank Group (AfDB) |

African Development Bank launches scheme to improve livelihoods for youths in three African countries

The Creating Sustainable Youth MSMEs Through Urban Farming initiative will support young farmers in Nigeria, the Democratic Republic of the Congo (DRC) and Uganda

The African Development Bank (www.AfDB.org) has launched a multinational project to create jobs and improve livelihoods for youth in three African countries. The Creating Sustainable Youth MSMEs Through Urban Farming (SYMUF) initiative will support young farmers in Nigeria, the Democratic Republic of the Congo (DRC) and Uganda, who are attracted…

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    • African Development Bank president Akinwumi Adesina awarded Man of the Year (Africa) in 2022 by Exclusive Men of the Year Awards
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African Development Bank president Akinwumi Adesina awarded Man of the Year (Africa) in 2022 by Exclusive Men of the Year Awards

Since 2016, EMY Africa has celebrated the best in men’s achievements across local industry, community, culture and public service

African Development Bank (www.AfDB.org) President Dr. Akinwumi Adesina has been named 2022 Man of the Year (Africa) by Exclusive Men of the Year (EMY), for his visionary leadership as the president of the African Development Bank Group and for his outstanding contribution to Africa during his period as agriculture minister…

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    • FSDH Merchant Bank of Nigeria has received a $25m trade finance facility to spur over $200m in agriculture, manufacturing, and energy transactions in the next 3 years
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Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank approves $25 million Trade Finance Facility for FSDH Merchant Bank for local small and medium-sized enterprises (SMEs)

The Bank’s financing will help eligible Nigerian SMEs to take advantage of existing and emerging opportunities in the domestic and regional markets

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $15 million trade finance line of credit and $10 million transaction guarantee for FSDH Merchant Bank (https://FSDHMerchantBank.com) in Nigeria. FSDH will use the line of credit to provide loans to local enterprises in Nigeria. The $25…

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

Nigeria: African Development Bank Board Approves $134 Million Loan to Boost Local Food Production

The program will support fast-tracking of the implementation of key policy and institutional reforms and boost private sector participation in agriculture

The Board of Directors of the African Development Bank Group (www.AfDB.org) on Friday approved a $134 million loan for the National Agriculture Growth Scheme – Agro Pocket program in Nigeria to scale up food production and boost livelihood resilience. The program will support fast-tracking of the implementation of key policy…

African Development Bank Group (AfDB)
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Statement by Dr. Akinwumi A. Adesina, President, African Development Bank

While I am deeply honored, humbled and grateful for all the incredible goodwill, kindness, and confidence, my current responsibilities at this time do not allow me to accept to be considered

Statement by Dr. Akinwumi A. Adesina, President, African Development Bank (www.AfDB.org): I have been extremely humbled by several calls from Nigerians at home and abroad that I should consider running for the office of the President of the Federal Republic of Nigeria. I am very touched by all who have…

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    • Nigerian President Muhammadu Buhari (right) commended the African Development Bank for the plan to “swiftly and boldly” mitigate the impact of the Russia-Ukraine war on food supplies
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Source: African Development Bank Group (AfDB) |

Nigeria top priority under African Development Bank Africa Emergency Food Plan

The initiative will support the country’s 5 million smallholder farmers during the wet season of 2022

The head of the African Development Bank (www.AfDB.org), Dr. Akinwumi Adesina, met with Nigerian President Muhammadu Buhari in Abuja on Tuesday to discuss the impact of the Russia-Ukraine war and the Bank’s strategy to avoid a food crisis in Africa. Adesina informed President Buhari that the African Development Bank has designed…

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    • Digital financial solutions are key to reducing the gender access-to-finance gap in Africa
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We-Fi announces New Round of Funding for Women Entrepreneurs; $15 Million to the Africa Digital Financial Inclusion Facility to Improve Access to Finance for Women-owned Small Businesses

The funds will enable the Africa Digital Financial Inclusion Facility to design and implement programs to improve digital access to finance for women entrepreneurs

The Women Entrepreneurs Finance Initiative (We-Fi)  has announced a new round of funding under which the African Development Bank’s (www.AfDB.org) Africa Digital Financial Inclusion Facility (ADFI) will receive $15 million to develop and extend digital financial solutions to women-owned small and medium businesses in Cameroon, Egypt, Kenya, Mozambique and Nigeria. This…

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    • African Development Bank Group signs Memorandum of Understanding with ECOWAS for $3.56 million grant to develop West Africa pharmaceutical industry
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Source: African Development Bank Group (AfDB) |

African Development Bank Group signs Memorandum of Understanding with ECOWAS for $3.56 million grant to develop West Africa Pharmaceutical Industry

The project's total cost is $3.77 million, to which the ECOWAS Commission will provide $200,000 in cash and $400,000 in-kind

The African Development Bank (www.AfDB.org) and the Commission of the Economic Community of West African States (ECOWAS) have signed a memorandum of understanding for $3.56 million in grant funding to support the development of pharmaceutical industries in West Africa. Lamin Barrow, Managing Director of the Bank for Nigeria and Mamadou…