Source: African Development Bank Group (AfDB) |

African trade finance sees $5 bn in portfolio outflows in Q1 2020 due to Covid-19, but opportunities exist - report

The survey was conducted by African Export-Import Bank, jointly with the UN Economic Commission for Africa and the African Development Bank-hosted Making Finance Work for Africa Partnership

Constrained global financial conditions caused by Covid-19 have led to massive portfolio outflows from Africa, exceeding $5 billion in the first quarter of 2020, a new continent-wide survey on trade finance has shown. About $3.1 billion left the South African market alone, the report found. Launched on 15 April 2021,…

Source: African Development Bank Group (AfDB) |

Covid-19 pandemic impetus for greater regional integration, African countries told at presentation of regional integration index report

The index, a joint publication of the Economic Commission for Africa, the African Development Bank and the African Union Commission, provides up-to-date data on the status of regional integration in Africa

As countries rebuild their economies following COVID-19, Africa needs to step up productive and infrastructural integration, participants heard at a regional presentation of the African Regional Integration Index (ARII) (https://bit.ly/3dsKMjV) held virtually last week. The index, a joint publication of the Economic Commission for Africa, the African Development Bank (www.AfDB.org) and the…

Source: African Development Bank Group (AfDB) |

Women-led Kenyan design house wins Fashionomics Africa sustainable design competition for turning fruit waste into eco-friendly footwear

Pine Kazi, which converts pineapple leaf and recycled rubber into fashionable footwear, won the $2,000 Fashionomics Africa competition cash prize

The African Development Bank’s (www.AfDB.org) Fashionomics Africa initiative has named a women-led Kenya shoe design house as the winner of its competition to support producers of sustainable fashion. Pine Kazi, which converts pineapple leaf and recycled rubber into fashionable footwear, won the $2,000 Fashionomics Africa competition cash prize. In addition,…

Source: African Development Bank Group (AfDB) |

African Continental Free Trade Area (AfCFTA): Free trade bloc can be a game changer for African people and business

The African Development Bank is actively supporting or looking to support initiatives to boost trade and improve livelihoods for Africans

Exploring strategies to deepen private sector participation in the implementation African Continental Free Trade Area (AfCFTA) was the highlight of a panel session during the 2021 WTO Aid-for-Trade Stocktaking meeting. The African Development Bank (www.AfDB.org), the United Nations Industrial Development Organization (UNIDO) and International Trade Centre (ITC) organized the session held…

Source: African Development Bank Group (AfDB) |

Uganda: African Development Bank signs $229.5 million financing agreement for the Kampala-Jinja Expressway Project

The Kampala-Jinja Expressway Project will cut travel time and boost trade along an important artery linking Uganda with its neighbors

The African Development Bank (www.AfDB.org) and the Government of Uganda on Tuesday signed a $229.5 million financing agreement for the first phase of the Kampala-Jinja Expressway Project, which will cut travel time and boost trade along an important artery linking Uganda with its neighbors. The Kampala-Jinja Expressway Public-Private Partnership (PPP)…

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

African Development Fund: Japan, African Development Bank Group, sign JPY 73.6 billion loan agreement

The concessional donor loan will support the 15th replenishment of the African Development Fund, approved in December 2019 by ADF donor countries

The Japan International Cooperation Agency (JICA) and the African Development Fund (ADF) – the concessional arm of the African Development Bank Group (www.AfDB.org) – on Tuesday signed a loan agreement of 73.6 billion Japanese yen ($668.1 million) to support the 15th replenishment of the African Development Fund (ADF-15). During a…

Source: African Development Bank Group (AfDB) |

African Development Bank, FAO and South Sudan’s government ink protocols for $14 million grant to boost agricultural markets

The Agricultural Markets, Value Addition and Trade Development project aims to enhance agricultural productivity and boost the marketing and trade of agricultural products

The African Development Bank (www.AfDB.org) on Wednesday signed protocols to disburse a $14 million grant to the Government of South Sudan to boost agricultural markets in a project to be implemented by the UN’s Food and Agriculture Organization (FAO). The Agricultural Markets, Value Addition and Trade Development (AMVAT) project aims…

Source: African Development Bank Group (AfDB) |

U.K Africa Investment Summit: Renewable energy critical driver of Africa’s post-COVID-19 growth recovery and economic prosperity, Panel says

The panel covered discussion of British innovation and experience in the context of partnering with Africa to advance its economic development

Renewable energy will be a critical driver of Africa’s post-COVID-19 growth recovery and economic prosperity,  panelists in a 2021 UK Africa Investment Summit event said Wednesday, as they called for a stronger partnership between the United Kingdom and  Africa. The panel, themed UK & Africa: Partnering in Sustainable and Resilient…

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

U.K. Africa Investment Conference: Africa is the world’s next business frontier, says AfDB's Akinwumi Adesina

Africa still possessed the same fundamentals that had driven the continent’s phenomenal growth over the past decade, Adesina said

African Development Bank (www.AfDB.org) President Akinwumi A. Adesina said on Wednesday that Africa remained fertile ground for investment, but much hinged on the continent’s ability to boost its healthcare sector. Adesina spoke during the Africa Investment Conference, a virtual one-day event organized by the UK Department for International Trade, which…

Source: African Development Bank Group (AfDB) |

Africa Free Trade Agreement: President Adesina receives award for strong leadership and support

Boshe, a patron of the AeTrade Group, thanked the awardees for their strong leadership in the process that led to the African Continental Free Trade Area coming into force

African Development Bank (www.AfDB.org) President Akinwumi A. Adesina and 10 African Heads of State and Government were on Friday honoured  for their leadership in the African Continental Free Trade Area (AfCFTA) process. The AfCFTA, the largest free trade area in the world, began trading on 1 January 2021 and is…