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

Malawi: the Mzuzu-Nkhata Bay road now among the country’s safest roads, thanks to African Development Bank support

Bank financing of USD$30 million went into widening the road

A five-year project to rehabilitate the Mzuzu-Nkhata Bay road with African Development Bank (https://www.AfDB.org/) financing has made the road one of Malawi’s safest, according to the project’s completion report. The project, began in 2013, wrapped up in 2018.  The road was formerly very narrow and poorly maintained, and it required…

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

African Development Bank Regional Economic Outlook 2020: COVID-19 response and economic diversification crucial to growth recovery in Southern Africa, the most affected region

Impact of COVID-19 in South Africa projected to affect rest of Southern African economies

Report recommends inclusive, broad-based and pro-poor policies to address inequality and reduce poverty rates; Impact of COVID-19 in South Africa projected to affect rest of Southern African economies. A higher level of preparedness is urgently needed to prevent and mitigate the COVID-19 pandemic in Southern Africa, including additional resources for…

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

The one-stop border post between Tanzania and Kenya, a symbol of East-African integration

The African Development Bank in 2007 approved $185 million in funding

Naftali Elude Mzota, a driver for the Impala Shuttle Company in Tanzania, has been driving between Tanzania and Kenya for over 23 years. Asked about the difficulties of crossing the border, Mzota sighs. "Customs clearance used to be a real challenge here, because there were two borders. You had to…

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

Africa Road Builders Babacar Ndiaye Trophy 2020: Egyptian president to receive Great Road Builder Award

Ivorian President Alassane Ouattara and African Development Bank President Akinwumi Adesina awarded special prizes

Egyptian president Abdel Fattah Al-Sisi was awarded the Babacar Ndiaye Great Road Builder Award it was announced Monday, a distinction for heads of state whose countries initiate outstanding projects or achievements in relation to the development of roads, transportation and mobility. Al Sisi was recognized for his “personal leadership” in…

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

Tanzania: African Development Bank project tripled incomes of rural producers and traders

With $56.8 million in funding from the African Development Bank, the programme was undertaken in 32 districts with a population of 6.1 million in 1.2 million households

An African Development Bank (http://www.AfDB.org) project to enhance market infrastructure, value addition and rural finance (MIVARF) (https://bit.ly/38xRvFo) in Tanzania produced highly satisfactory results, according to a report released by the project team. The project, rolled out in the country between 2012 and 2017 increased the incomes of rural producers and…

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

Infrastructure Fund Africa50 helps Egypt’s Solar Power Sector take off

Africa50 is an independent infrastructure fund, focused on high-impact projects mostly in the energy and transport sectors

A 37-square-kilometer solar park so large that it can be seen from space, with over seven million photovoltaic panels, and funding of $4 billion. In Africa? Impossible? Not anymore. Thirty international infrastructure developers got behind this project, investing in Egypt’s massive Benban solar park, which will be the largest in…

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

Ethiopia: The African Development Bank gives $1.2 million for Ethiopia-Sudan railway study

The two-year, comprehensive feasibility study will assess the proposed project’s technical, economic, environmental and social viability

The African Development Bank’s (www.AfDB.org) Board of Directors has approved a $1.2 million grant to Ethiopia’s government to finance a feasibility study for construction of a standard-gauge railway (SGR) link between Ethiopia and neighbouring Sudan. The grant, from the African Development Fund, the Bank Group's concessional-rate lending arm, would cover…

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

African Development Bank approves €40 million in grants for bridge linking Cameroon and Chad

The grants, comprising a €20.785 million tranche for Cameroon and €19.215 million for Chad, were approved on 30 April 2020

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved grants worth €40.94 million for the construction of a bridge to connect Cameroon and Chad across the Logone river. The grants, comprising a €20.785 million tranche for Cameroon and €19.215 million for Chad, were approved on 30…

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

South Africa: African Development Bank, SA Taxi sign $100 million loan agreement to boost industrialization, enhance transport sector

The loan agreement, which carries an eight-year tenor and includes a six-month grace period, was signed on Monday, 16 March

The African Development Bank (www.AfDB.org) and SA Taxi Development Finance Proprietary Limited, a wholly owned subsidiary of SA Taxi Holdings Proprietary Limited (“SA Taxi”), have signed a $100 million loan agreement to support the firm’s growing strategy to empower taxi operators with limited access to finance from traditional financiers. The…

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

African Development Bank places Zhongmei Engineering Group Limited on 12 months conditional non-debarment for fraudulent practice

While submitting a bid for the tender for the Upgrading of the Rukungiri-Kihihi-Ishaka/Kanungu Road in Uganda, the company misrepresented its date of incorporation

The African Development Bank Group (http://www.AfDB.org) on 17 April 2020, announces a 12-month conditional non-debarment of Zhongmei Engineering Group Limited, an engineering company registered in Uganda. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Zhongmei Engineering Group Limited engaged in fraudulent practice during a bidding…