Source: African Development Bank Group (AfDB) |

South Africa: African Development Bank approves $300 million for energy governance and climate resilience

The Programme prepared in collaboration with other development partners including the World Bank and KfW Development Bank (KfW), will help advance South Africa’s energy transition

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $300 million loan to South Africa to implement its Energy Governance and Climate Resilience Programme. The Programme prepared in collaboration with other development partners including the World Bank and KfW Development Bank (KfW), will help advance South…

Source: African Development Bank Group (AfDB) |

South Africa: African Development Bank approves $1 billion guarantee from the United Kingdom to support SA’s Just Energy Transition

This is another innovative operation that reaffirms AfDB’s leadership in crafting financial solutions to increase access to climate finance for Africa’s low carbon development and net zero ambitions

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $1 billion guarantee program in collaboration with the UK Foreign Commonwealth and Development Office (FCDO), which will allow the Bank to increase its lending capacity in support of South Africa’s Just Energy Transition (JET). Developed in…

Source: African Development Bank Group (AfDB) |

South Africa: African Development Bank approves ZAR 2.7 billion subordinated financing and $150 million trade finance facility for Absa Group Limited

The financing will boost Absa’s program to scale up and grow its loan book in sustainable lending activities within the small and medium sized enterprises (SMEs) segment

The Board of Directors of the African Development Bank (www.AfDB.org) has approved a financial package for Absa Group Limited comprising a sustainability-linked loan for an amount of ZAR 1.7 billion; an investment of ZAR 1 billion into Absa’s inaugural social bond issuance to be listed on the Johannesburg Stock Exchange;…

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    • The African Development Bank’s interventions in South Africa between 2023 and 2028 focused on improving governance and developing the private sector
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Source: African Development Bank Group (AfDB) |

South Africa: African Development Bank’s new 5-year strategy paper focuses on governance and the private sector

The Bank will also contribute to strengthening the governance framework to create favourable conditions for implementing infrastructure projects

The Board of Directors of the African Development Bank Group (https://www.AfDB.org/en) have approved South Africa’s Country Strategy Paper (CSP) 2023-2028. The Bank’s interventions over the next five years will focus on two priority areas: improving governance and developing the private sector in southern Africa’s largest and most populated country. The…

Source: African Development Bank Group (AfDB) |

2023 Southern Africa Economic Outlook: Southern Africa’s economic prospects subdued, yet abounds with investment opportunity in climate change initiatives

In 2022, the Southern Africa region’s GDP growth barely reached 2.7 percent, a level much lower than global and African averages of 3.4% and 3.8 %

The Southern Africa region has seen a slowdown in economic growth over the past year as its largest economy, South Africa, confronts multiple challenges. Civil unrest, electricity crisis and natural disasters have contributed to dampen prospects for the region, which is lagging behind the others in Africa, according to the…

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    • New report reveals African countries have generated €1.7 billion in additional revenues from tackling tax evasion and illicit financial flows
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Source: African Development Bank Group (AfDB) |

New report reveals African countries have generated €1.7 billion in additional revenues from tackling tax evasion and illicit financial flows

The Organisation for Economic Co-operation and Development (OECD) estimates that Africa loses as much as $60 billion each year in illicit financial flows

According to the 2023 Tax Transparency in Africa (https://apo-opa.info/3D4ydri) progress report unveiled at the 13th Meeting of the Africa Initiative in Cape Town today, African countries have realised additional revenues totalling €1.69 billion thanks to voluntary disclosures, the implementation of information exchange mechanisms, and rigorous offshore investigations. Download document (1):…

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    • Africa has technology and innovation to achieve zero hunger — African Development Bank head Adesina at Africa Agribusiness and Science Week
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Source: African Development Bank Group (AfDB) |

Africa has technology and innovation to achieve zero hunger — African Development Bank head Adesina at Africa Agribusiness and Science Week

Adesina said African food systems have the potential to unleash $1 trillion in value over the next seven years

Africa has the necessary partnerships and technologies to eradicate hunger, said African Development Bank (www.AfDB.org) President Dr. Akinwumi A. Adesina. What is needed is action including robust financing, Adesina said Monday during the opening session of the 8th Africa Agribusiness and Science Week (AASW) in Durban, South Africa. “We must pull together the…

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    • From left: Luísa Diogo, former Prime Minister of Mozambique, Dr. Akinwumi A. Adesina, President of the African Development Bank Group, Jamie Cooper, Founder and President of Big Win Philanthropy and Co-Chair of AMALI, Dr. Nkosazana Dlamini-Zuma, Minister of Cooperative Governance and Traditional Affairs of South Africa, Alan Winde, Premier of the Western Cape. Image source: African Mayoral Leadership Initiative (AMALI)
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Source: African Development Bank Group (AfDB) |

“Let Us Act to Transform Africa’s cities”—African Development Bank President to African Mayors

African Development Bank Group President, Dr Akinwumi A. Adesina, assures mayors at the African Mayoral Leadership Initiative (AMALI) of the Bank’s support to creatively and sustainably transform their cities

By 2050, the number of people living in African cities is expected to double from about 600 million to 1.2 billion, representing the most rapid rate of urbanisation in the world. This poses significant development challenges, which will require innovative, African-led solutions. In rousing remarks to the mayors of 15…

Source: African Development Bank Group (AfDB) |

In South Africa, medical trains boost mental health services to rural communities

“We want to be the adults that children can speak to” – Nthombi Pukwana, clinical psychologist, Transnet Phelophepa train

The observance of World Mental Health Day in October, gave us a chance to reflect on the transformative impact of Transnet’s Phelophepa medical train on mental health services in South Africa. Phelophepa has been providing healthcare to rural communities in South Africa for more than 20 years. Darling, Western Cape,…

Source: African Development Bank Group (AfDB) |

South Africa: Development Bank of Southern Africa to receive ZAR 2.2 billion Line of Credit for portfolio expansion

The facility will provide long-term funding to DBSA, augmenting internally generated funds as well as loans from other Development Finance Institutions and commercial lenders

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved  a ZAR 2.2 Billion line of credit facility to the Development Bank of Southern Africa to build out its portfolio with strategic projects in energy, infrastructure, and communications technology within the Southern Africa region and across the African…