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

African Development Bank and Korea Environmental Industry and Technology Institute (KEITI) sign agreement to deploy environmental and climate-resilient technologies in Africa

Through this partnership, Korea will share technology, experience, and knowledge with the bank’s African member countries

The African Development Bank (www.AfDB.org) and the Korea Environmental Industry and Technology Institute (KEITTI) (https://apo-opa.info/3Pshxj7) have signed a joint technical assistance agreement to enable the scale up of investment in low-carbon and climate-resilient technologies. This will ultimately support climate change mitigation and adaptation efforts in many African countries. The two…

African Development Bank Group (AfDB)

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    • AfDB President Akinwumi Adesina (left) and Korea's Deputy Prime Minister Kyungho Choo at the opening of the 7th Korea-Africa Economic Cooperation Ministerial Conference in Busan
    • 33 African finance ministers, ambassadors, heads of pan-African institutions and NGOs, CEOs and Korean private sector leaders gathered in Busan for the 7th KOAFEC Ministerial Conference
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Source: African Development Bank Group (AfDB) |

Korea and Africa rally additional finance and technology for universal energy access and to make Africa world’s breadbasket

The Korea Trust Fund and the $600 million Korea-Africa Energy Investment Framework will support African countries in strengthening human capacity and developing their energy sectors

The 7th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference opened in Korea’s second-largest city, Busan, on Wednesday with a strong call for additional resources to help African countries achieve universal access to energy and transform the continent into the breadbasket of the world. The conference is taking place at a time…

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

Guinea: Transitional government and African Development Bank Group sign $28 million loan agreement for agropastoral development, digitization and market access

The Bank’s Country Manager in Guinea, Léandre Bassolé and the Guinean Minister of the Economy and Finance, Moussa Cissé, signed the agreement in Conakry on 3 August 2023

The African Development Bank Group (www.AfDB.org) signed an agreement with the transitional government in Guinea for a $28 million loan to support agropastoral development, digitization and market access in the West African country. The Bank’s Country Manager in Guinea, Léandre Bassolé and the Guinean Minister of the Economy and Finance,…

African Development Bank Group (AfDB)

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    • India commits $2 million as new partner in Africa Digital Financial Inclusion Facility to boost digital financial inclusion across Africa (1)
    • India commits $2 million as new partner in Africa Digital Financial Inclusion Facility to boost digital financial inclusion across Africa (2) (FR)
    • India commits $2 million as new partner in Africa Digital Financial Inclusion Facility to boost digital financial inclusion across Africa (3) (PT)
    • India commits $2 million as new partner in Africa Digital Financial Inclusion Facility to boost digital financial inclusion across Africa (4) (AR)
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Source: African Development Bank Group (AfDB) |

India commits $2 million as new partner in Africa Digital Financial Inclusion Facility to boost digital financial inclusion across Africa

India’s collaboration with ADFI enables the facility to learn from best practices and help scale up initiatives to meet the needs of financially excluded and underserved people in Africa

The Indian government will contribute $2 million to the Africa Digital Financial Inclusion Facility (ADFI) (https://apo-opa.info/3OqWehA), housed and managed by the African Development Bank (www.AfDB.org), affirming its commitment to help break down barriers to the growth and uptake of digital financial solutions and accelerate financial inclusion in Africa. Globally recognised…

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    • Cabo Verde's Deputy Prime Minister and Finance Minister Olavo Avelino Garcia Correia and African Development Bank project lead Uyoyo Edosio at the signing of a loan agreement for €14 million to support development of the Cabo Verde Technology Park
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Source: African Development Bank Group (AfDB) |

Cabo Verde: €14 million loan from African Development Bank will strengthen role as regional tech hub

It will offer more than 50 tech startups from across Africa integration grants of at least €5,000 each

The African Development Bank (http://www.AfDB.org) and the government of Cabo Verde have signed a €14 million loan agreement to enhance the Cabo Verde Technology Park by making it more climate resilient and supportive of enterprise development.  The agreement was signed on 19 July in Praia, Cabo Verde. The African Development…

African Development Bank Group (AfDB)

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    • AfDB President Akinwumi Adesina (2nd left) urges Africa's first woman in space, Sara Sabry, to inspire young scientists
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Source: African Development Bank Group (AfDB) |

Africans should participate in space exploration, says the continent’s first woman astronaut

Experts believe that satellite technology can have a significant impact on rapidly developing African countries by advancing weather forecasting, agriculture, navigation, and even banking and online education

Africa’s first woman in space has called for regional and global efforts to enable more Africans to participate in space exploration as part of efforts to advance the continent’s socioeconomic transformation. Sara Sabry, a young Egyptian astronaut, and founder of the Deep Space Initiative (https://www.DeepSpaceInitiative.org/) made the call on Tuesday…

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…

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    • Ifeoluwa Olatayo, founder of Nigeria’s Soupah Kitchen & Company, inspects the condition of vegetables in her hydroponic farm
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Source: African Development Bank Group (AfDB) |

African Development Bank-funded enterprise produces affordable, healthier vegetables using urban rooftop hydroponics

Soupah Kitchen uses resource-smart technology to control the environment for growing lettuce, kale, leafy green, and herbs

Africa is highly vulnerable to climate change, and its impacts—flooding, droughts, cyclones, sea-level rise-- are already driving shifts in how Africans grow food, live, and earn their livelihoods. Yet, most of the climate funding for the continent goes toward climate mitigation rather than adaptation. This is a problem, partly because…

African Development Bank Group (AfDB)

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    • (L-R): Smart Africa Director General Lacina Kone (left) and AfDB Director General for the Southern Africa Region Leila Mokaddem at signing ceremony of IDECT project, Victoria Falls, Zimbabwe 25 April 2023
    • AfDB Director General Southern Africa region Leila Mokaddem speaks during a panel session on
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Source: African Development Bank Group (AfDB) |

African Development Fund, Smart Africa Alliance launch $1.5 million project to enhance digital trade and e-commerce ecosystems across Africa

The project will see to the implementation of regional training and capacity-building programs focusing on cross-border e-payment and e-commerce for governments, private sectors, and SMEs

The African Development Fund and Smart Africa Alliance have jointly launched a $1.5 million project to streamline digital trade and e-commerce policies across 10 African countries. The Institutional Support for Digital Payments and e-Commerce Policies for Cross-Border Trade Project (IDECT (https://apo-opa.info/3L9ZNqA)) will evaluate policy gaps in the digital trade and…

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

Nigeria: African Development Bank and Africa Fintech Network sign $525,000 grant to strengthen development of fintech in Africa

The Africa Fintech Hub Project aimed at expanding access and usage of digital financial solutions to meet the needs of all Africans

The African Development Bank (www.AfDB.org) has signed a $525,000 grant agreement with Africa Fintech Network (AFN) for the setup of the Africa Fintech Hub (www.AfricaFintechNetwork.com/), an online portal that will serve as a one-stop shop for all fintech activities in Africa. The agreement was signed on 4 April 2023. The Africa…