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African Development Bank Group (AfDB)

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    • Tunisia: African Development Bank (AfDB), AMEA Power, International Finance Corporation (IFC) and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project (1)
    • Tunisia: African Development Bank (AfDB), AMEA Power, International Finance Corporation (IFC) and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project (2)
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Source: African Development Bank Group (AfDB) |

Tunisia: African Development Bank (AfDB), AMEA Power, International Finance Corporation (IFC) and Sustainable Energy Fund for Africa (SEFA) launch first large-scale privately-financed solar project

This initiative stands as one of Tunisia's most impactful infrastructure projects in over a decade

The African Development Bank (www.AfDB.org) and the Sustainable Energy Fund for Africa (SEFA), in partnership with the International Finance Corporation and UAE's AMEA Power, today herald Tunisia's first privately-financed solar project. This initiative is set to revolutionise the nation's energy scene by cutting power generation costs, significantly trimming greenhouse gas…

African Development Bank Group (AfDB)

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    • 7th Korea-Africa Economic Cooperation (KOAFEC) business forum
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Source: African Development Bank Group (AfDB) |

Adesina to Korean investors: Africa is the leading market frontier with huge untapped potential

Africa is not as risky as you hear - It is a continent of opportunities, waiting to be tapped

African Development Bank (www.AfDB.org) President Akinwumi Adesina has called on Korean investors to seize untapped investment opportunities in Africa, especially in the energy and agriculture sectors. “Africa is a continent that cannot be ignored by investors,” Adesina said at a business forum attended by CEOs of Korean corporations, heads of…

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

African Development Bank's Sustainable Energy Fund for Africa welcomes $50 million in new commitments from Germany and United States of America at Africa Climate Summit

The contributions will serve to boost its position as one of the continent’s leading climate finance facilities

The African Development Bank's (www.AfDB.org) Sustainable Energy Fund for Africa (SEFA) (https://apo-opa.info/3EfNjLE) welcomes approximately $50 million in new funding contributions from Germany and the United States. The contributions will serve to boost its position as one of the continent’s leading climate finance facilities. The funding was announced on Tuesday 5 September at…

African Development Bank Group (AfDB)

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    • AfDB Director Daniel Schroth (left), and Power Africa’s Acting Coordinator David Thompson signed an updated, expanded Regional Development Objectives Agreement in Nairobi (1)
    • AfDB Director Daniel Schroth (left), and Power Africa’s Acting Coordinator David Thompson signed an updated, expanded Regional Development Objectives Agreement in Nairobi (2)
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Source: African Development Bank Group (AfDB) |

United States Agency for International Development's (USAID) Power Africa, African Development Bank broaden cooperation on fighting energy poverty and climate change in Africa

During the signing at the Africa Energy Forum, Power Africa’s Acting Coordinator David Thompson highlighted the role of partnerships in accelerating and sustaining the just energy transition

The United States Agency for International Development (USAID), through the Power Africa Presidential Initiative, and the African Development Bank (www.AfDB.org), have signed an extension and expansion of their existing Regional Development Objectives Agreement (RDOAG) on the margins of the Africa Energy Forum (www.Africa-Energy-Forum.com) in Nairobi. The move deepens the strategic…

African Development Bank Group (AfDB)

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    • African governments, partners express support for Alliance for Green Infrastructure in Africa toward target of mobilizing $500 million
    • (From right) AfDB President Akinwumi Adesina with Madagascar President Andriy Rajoelina, Comoros President Azali Assoumani, Ghana President Nana Akufo-Addo; Mauritania President Mohamed Ould Ghazouani; Prime Minister of Cote d’Ivoire Patrick Achi; Kenya President William Ruto, and Democratic Republic of the Congo Prime Minister Jean-Michel Sama Lukonde Kyenge at the AGIA side event in Paris.
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Source: African Development Bank Group (AfDB) |

African governments, partners express support for Alliance for Green Infrastructure in Africa toward target of mobilizing $500 million

Event on sidelines of the Paris Forum features announcement of $5 million grant for initiative

On the sidelines of the Summit for a New Global Financing Pact in Paris, African leaders, investors and development partners, including the African Development Bank Group (www.AfDB.org), have highlighted their steadfast support for the Alliance for Green Infrastructure in Africa as it advances toward a first close of $500 million…

African Development Bank Group (AfDB)

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    • View of informal settlement in Windhoek, Namibia. Electrification is considered a crucial investment to unlock the economic potential of these areas and substantially improve the living condition of the inhabitants
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Source: African Development Bank Group (AfDB) |

Namibia: Urban areas to receive boost as African Development Bank fund approves grant for solar electricity in informal settlements

The “Informal Settlement Renewable Electrification and Upgrading Program" will directly benefit around 200,000 people in Windhoek, where around 20% of the population does not have electricity

The African Development Bank’s (www.AfDB.org) Urban and Municipal Development Fund (UMDF) (https://apo-opa.info/43CHYIN) has approved a grant of $485,000 for a solar electricity project in Namibia that will power some 50,000 households in the capital city. The “Informal Settlement Renewable Electrification and Upgrading Program" will directly benefit around 200,000 people in…

African Development Bank Group (AfDB)

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    • Dignitaries display copies of the newly launched 2023 African Economic Outlook Report. (L-R): UK’s Minister of State and AfDB Governor Andrew Mitchell; African Development Bank Group President Akinwumi Adesina; Egypt’s Acting Central Bank Governor Hassan Abdalla; Hassatou Diop N’Sele, African Development Bank Vice President for Finance and Chief Financial Officer; and Prof. Kevin Urama, Chief Economist and Vice President, Economic Governance and Knowledge Management, African Development Bank
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Source: African Development Bank Group (AfDB) |

Africa set to be the second-fastest growing region after Asia, but headwinds remain, says African Development Bank’s (AfDB) African Economic Outlook report

Flagship report recommends incentives to draw private investment in green growth

Africa is set to be the second-fastest growing region in the world after Asia in 2023-24, demonstrating the resilience of its economy despite dealing with multiple global shocks. But the projected growth will depend on global conditions and the continent’s ability to bolster its economic resilience, the African Development Bank’s…

African Development Bank Group (AfDB)

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    • The Africa Investment Forum showcased $1.5 billion of renewable energy and sustainability projects to investors during the African Development Bank’s 2023 Annual Meetings
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Source: African Development Bank Group (AfDB) |

Africa Investment Forum showcases $1.475 billion in green and renewable energy deals at African Development Bank 2023 Annual Meetings

Africa Investment Forum’s current pipeline, comprises 90 deals valued at $62.9 billion

The Africa Investment Forum presented four renewable energy and sustainability projects worth nearly $1.5 billion to investors on the sidelines of the African Development Bank Group’s (www.AfDB.org) 2023 Annual Meetings. The curated projects, which are drawn from all of Africa’s regions, are sourced from the Africa Investment Forum’s pipeline. They reflect…

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

African Development Bank, European Union, and France invest $300 million in Tanzania’s Hydropower Project

Kakono Hydropower Project to serve four million inhabitants and spur economic activity in the Kagera Region of Tanzania

The government of Tanzania, the African Development Bank (www.AfDB.org), and the French Development Agency (AFD) have signed agreements for two development project loans worth $300 million. The funds will finance the construction of the 87.8-megawatt Kakono Hydropower Plant located in Kagera region in the northern part of Tanzania. The project…

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

Eritrea: The African Development Bank Board approves US$49.92 million to Build a 30 MW Solar Photovoltaic Power Plant in Dekemhare

This is expected to contribute to increasing generation capacity and grid energy to 185 MW and 365 gigawatt-hours/year, respectively

Financing Approval date 1 March 2023 Project name: Dekemhare 30-megawatt photovoltaic solar power plant project in Eritrea. Amount: US$ 49.92 million grant comprising US$ 19.5 million from the African Development Fund (ADF-15) and US$ 30.42 million from the Transition Support Facility (TSF). Objectives The African Development Fund grant will finance…