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African Development Bank Group (AfDB)

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    • Bank president Akinwumi Adesina opens a two-day event in Abidjan on tapping the skills and wealth of the African Diaspora
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Source: African Development Bank Group (AfDB) |

Diaspora’s remittances, investment and expertise vital for Africa’s future growth, say participants at African Development Bank Forum

The African Development Bank hosted it in partnership with the African Union Commission, the International Organisation for Migration, and the African Continental Free Trade Area secretariat

Hundreds of academics and leaders of international institutions from around the world came together for an African Development Bank (www.AfDB.org) Forum on ways to harness the skills, wealth and dynamism of Africa’s 160-million-strong diaspora to its growth and development. The hybrid event took place against the difficult geopolitical backdrop of high…

African Development Bank Group (AfDB)

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    • The African Development Bank is providing $300 million to refurbish metre-gauge railway lines in Uganda
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Source: African Development Bank Group (AfDB) |

Uganda: African Development Bank Group commits $301 million to renovate the country’s meter gauge railway and bolster regional trade

The works entail the immediate rehabilitation of 265 km of MGR tracks between Malaba and Mukono, including the line to Jinja Pier and Port Bell on Lake Victoria

The African Development Bank Group (www.AfDB.org) is providing  $301 million to overhaul  the Kampala-Malaba Meter Gauge Railway (MGR) in Uganda. The railway line is part of the East African Community’s Northern Corridor linking the capital, Kampala, to Kenya’s coastal city of Mombasa. The East African Community Railway Rehabilitation Support Project…

African Development Bank Group (AfDB)

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    • Abdu Mukhtar, African Development Bank Director of Trade and Industrial Development, during the launch of the Africa Industrialization Index in Niamey
    • Africa Industrialization Index Top Ten Countries by Score 2022
    • Africa Industrialization Index Top 10 countries by sub-index
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Source: African Development Bank Group (AfDB) |

New report by African Development Bank, partners finds that 37 African countries have industrialized in last decade

Top performers not necessarily those with the biggest economies, but countries that generate high manufacturing value-added per capita

Thirty-seven of 52 African countries have become more industrialized over the past eleven years, according to a new report from the African Development Bank (www.AfDB.org), the African Union and the United Nations Industrial Development Organization (UNIDO). The Africa Industrialization Index (AII) report provides a country-level assessment of 52 African countries’…

African Development Bank Group (AfDB)

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    • Regional Power Trade in Djibouti, Eritrea and Ethiopia Captured Attention at 6th Africa Energy Market Place (1)
    • Regional Power Trade in Djibouti, Eritrea and Ethiopia Captured Attention at 6th Africa Energy Market Place (2)
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Source: African Development Bank Group (AfDB) |

Regional Power Trade in Djibouti, Eritrea and Ethiopia Captured Attention at 6th Africa Energy Market Place

The virtual event was held from 25-27 October 2022 and brought together approximately 111 participants from governments, the private sector and development partners

The African Development Bank Group’s (www.AfDB.org) sixth edition of the Africa Energy Market Place (AEMP), focused on Djibouti, Eritrea and Ethiopia under the theme: Delivering Desert to Power in the Horn of Africa - Enhancing Regional Power Trade. The virtual event was held from 25-27 October 2022 and brought together…

African Development Bank Group (AfDB)

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    • Charles Kié, CEO of Genesis Holdings; Oscar Onyema, CEO of the Nigerian Exchange Group; Florizelle Liser, CEO of Corporate Council on Africa of the U.S; Simon Tiemtoré, Vista Bank CEO; Aubrey Hruby, principal researcher at the Atlantic Council and founder of Tofino Capital (moderator of the session); and Vincent Le Guennou, CEO of Africa50 Infrastructure Acceleration Fund.
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Source: African Development Bank Group (AfDB) |

African Investment Forum: Africa Remains Attractive to Investors, Despite Occasionally Complex Local and Geopolitical Situations

Africa is facing external shocks that negatively impact its growth and socioeconomic development

The African continent has enormous potential and remains an attractive destination for investors, despite complex national contexts and geopolitical changes, say experts attending the Africa Investment Forum 2022 Market Days. Africa is facing external shocks that negatively impact its growth and socioeconomic development. The Covid-19 pandemic has compromised the sustained…

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

African Development Bank Approves $75 Million Risk Participation Agreement Facility for FirstRand Bank Limited to Enhance Trade Financing on the African Continent

This RPA facility, will support approximately $500-600 million of trade over the next 3 years, of which more than $100 million will support intra-African trade and exports

The Board of Directors of the African Development Bank Group (https://www.AfDB.org/) on Wednesday, 12 October approved an unfunded $75 million trade finance Risk Participation Agreement facility for FirstRand Bank Limited (FRB). The approved facility will enhance FRB’s ability to underwrite trade finance transactions originating from issuing banks in several countries,…

African Development Bank Group (AfDB)

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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)

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    • African Development Bank Group President Dr. Akinwumi Adesina (L) and Cabo Verde PM José Ulisses de Pina Correia e Silva inaugurate the modernized port of Maio on September 7
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Source: African Development Bank Group (AfDB) |

Upgraded Maio Port to transform economy, boost trade in Cabo Verde

The modernization of the Ports of Maio and Palmeira cost €36 million, with the African Development Bank providing €17.87 million

African Development Bank (www.AfDB.org) President Dr. Akinwumi A. Adesina on Wednesday inaugurated the upgraded Port of Maio in Cabo Verde, which will help reduce sea travel time to the capital Praia, and boost trade. The modernization of the Ports of Maio and Palmeira cost €36 million, with the African Development…

African Development Bank Group (AfDB)

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    • African Development Bank, African Continental Free Trade Area Secretariat, Sign $11 Million Institutional Support Grant Agreement
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Source: African Development Bank Group (AfDB) |

African Development Bank, African Continental Free Trade Area Secretariat, Sign $11 Million Institutional Support Grant Agreement

The signing took place on 25 July 2022, on the margins of the ninth meeting of the AfCFTA Council of Ministers responsible for trade, held in Accra, Ghana

The African Development Bank Group (www.AfDB.org) and the Secretariat of the African Continental Free Trade Area (AfCFTA) have signed a Protocol of Agreement for an $11.24 million support package to enhance the Secretariat’s effective implementation. The signing took place on 25 July 2022, on the margins of the ninth meeting…

African Development Bank Group (AfDB)

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    • (L-R) Dana Banks, Special Assistant to the President and NSC Senior Director for Africa, National Security Council, Chinelo Anohu, Senior Director, Africa Investment Forum (AIF), Enoh, Ebong, Director, United States Trade and Development Agency (USTDA)
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Source: African Development Bank Group (AfDB) |

The U.S. Trade and Development Agency (USTDA) and Africa Investment Forum (AIF) Showcase Women as Investment Champions

USTDA and AIF showcased how their existing partnership advances women-led sustainable infrastructure in Africa

The U.S. Trade and Development Agency (USTDA) and African Development Bank’s (www.AfDB.org) Africa Investment Forum (AIF) co-hosted a forum of 40 women leaders who are delivering high-quality solutions for Africa’s infrastructure needs. The forum took place during last week’s U.S.-Africa Business Summit, in Marrakech, Morocco. During the forum, USTDA and…