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

South Africa: African Development Bank and Absa unveil multi-billion rand financial package to expand sustainable capital markets, boost economic growth for women and youth

Absa is collaborating with the African Development Bank to enhance skills among both Absa staff and women business owners

The African Development Bank (www.AfDB.org) and Absa Group, one of Africa's leading financial services providers, today celebrated a landmark agreement to mark the execution of a transformative financial package aimed at increasing funding for underserved segments, across South Africa and the continent. The target audience includes women-owned businesses, youth entrepreneurs,…

African Development Bank Group (AfDB)

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    • As the sole operator of ports, railways and oil pipelines, Transnet holds a unique position in the freight logistics sector in South Africa and the Southern African Development Community (SADC) region
    • South Africa boasts the highest level of railway infrastructure in Africa, covering around 30,000 km. It ranks as the world’s 14th largest in length and is notably well-developed compared to other emerging markets
    • South Africa: African Development Bank approves ZAR 18.85 billion ($1 billion) corporate loan for Transnet’s business recovery plan (1)
    • South Africa: African Development Bank approves ZAR 18.85 billion ($1 billion) corporate loan for Transnet’s business recovery plan (2)
    • South Africa: African Development Bank approves ZAR 18.85 billion ($1 billion) corporate loan for Transnet’s business recovery plan (3)
    • South Africa: African Development Bank approves ZAR 18.85 billion ($1 billion) corporate loan for Transnet’s business recovery plan (4)
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Source: African Development Bank Group (AfDB) |

South Africa: African Development Bank approves ZAR 18.85 billion ($1 billion) corporate loan for Transnet’s business recovery plan

In addition to the corporate loan, the African Development Bank is contemplating two targeted grants, including $750,000 in technical support from the Sustainable Energy Fund for Africa

The African Development Bank Group (www.AfDB.org) has approved a ZAR 18.85 billion ($1 billion) corporate loan to Transnet, South Africa’s major freight transport and logistics company, for its recovery and growth plans. The 25-year loan approved by the Bank Group’s Board of Directors on Friday, 12 July 2024, is fully…

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

African Business Founders to Take Center Stage at African Hidden Champions (AHC) Soirée in Johannesburg

his event, dubbed "Proudly Local, Boldly Global," is also supported by British International Investment (BII), the UK’s development finance institution (DFI) and impact investor

African Hidden Champions (AHC) will host an exclusive Soirée on April 24, 2024, in Johannesburg to convene and celebrate entrepreneurial spirit with top African founders taking on the global stage. The event will also feature a private concert with award-winning South African artist, Ami Faku.  African Hidden Champions, a co-partnership…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)
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;…

African Development Bank Group (AfDB)

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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…

African Development Bank Group (AfDB)
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…

African Development Bank Group (AfDB)

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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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    • Tax transparency in Africa (1)
    • Tax transparency in Africa (2) (FR)
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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):…

African Development Bank Group (AfDB)

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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…