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

Nigeria: African Development Bank bolsters women-empowered businesses with $50 million loan to FCMB bank

FCMB is a Nigerian commercial bank with around 5 million customers

The Board of Directors of the African Development Bank (www.AfDB.org) has approved a loan of $50 million to Nigeria’s First City Monument Bank (FCMB) to channel to local enterprises and women-empowered businesses in the agribusiness, manufacturing, healthcare and renewable energy sectors. Thirty percent of the funds, which are intended to…

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

African Development Bank’s Affirmative Finance Action for Women in Africa program showcased at Generation Equality Forum

AFAWA is a pan-African initiative whose goal is to unlock financing to bridge the $42 billion financing gap that women entrepreneurs face in Africa

The African Development Bank Group (www.AfDB.org) President, Dr. Akinwumi A. Adesina, joined French President Emmanuel Macron and others at the Generation Equality Forum taking place in Paris this week. He highlighted the role of the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative in growing the continent’s women-led…

African Development Bank Group (AfDB)
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,…

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

Canada and African Development Bank sign CAD 133 million gender lens Climate Fund for Africa

The Bank has committed to providing $25 billion in climate financing by 2025

The Government of Canada and the African Development Bank have signed an agreement formalizing the Canada–African Development Bank Climate Fund (CACF), a transformative special fund aimed at providing concessional loans to climate change-related projects with a strong gender-responsive component. The fund will be capitalized through a combination of a CAD…

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

The African Development Bank to introduce first women beneficiaries of AFAWA Guarantee for Growth program

The AFAWA Guarantee for Growth program targets financial institutions to increase their appetite to lend to women who are known to be better payers

In celebration of International Women’s Day, and to mark the rollout of the Affirmative Finance Action for Women in Africa (AFAWA) Guarantee for Growth program, the African Development Bank (www.AfDB.org) and the African Guarantee Fund are showcasing the first beneficiaries of the AFAWA Guarantee for Growth program – an innovation…

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

African Development Bank provides $320 000 in grant funding to mainstream gender in Economic Community of West African States' (ECOWAS) digital financial operations

The grant will be disbursed through the Africa Digital Financial Inclusion Facility, a blended finance vehicle, supported by the Bank

The Board of Directors of the African Development Bank (www.AfDB.org) has awarded a grant of $320, 535 to the West African Monetary Agency to mainstream gender in ECOWAS’ core digital financial services (DFS) regulatory frameworks. The funds will support a gender gap analysis of several WAMA strategies including those for…

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

African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA), African Guarantee Fund, partner to unlock $1.3 - $2 billion in loans to women entrepreneurs

Financial institutions in Cameroon, Democratic Republic of Congo, Kenya, Rwanda, Tanzania and Uganda are signing on to the program

The African Development Bank’s (www.AfDB.org) Affirmative Finance Action for Women in Africa (AFAWA) program has agreed a partnership with the African Guarantee Fund (AGF) to unlock $1.3 to 2 billion in loans to women-owned Small and Medium Sized Enterprises (SMEs) in Africa, by working with financial institutions to enhance their…

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

Chad: The African Development Bank grants $11.26 million for women and girls’ education

The Project aims to help improve access to quality secondary education in a safe and healthy school environment for 5,000 girls

The Board of Directors of the African Development Bank (www.AfDB.org) has approved a grant of $11.26 million to the Government of Chad to finance the Girls' Education and Women's Literacy Project– the first Bank grant exclusively targeting women and girls. The project will be financed from the Bank's Transition Support…

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

South Sudan: For the people of Juba, an African Development Bank Group (AfDB) supported water project brings better health - and peace

Access to drinking water in South Sudan is a crucial issue for peacebuilding and dealing with community disputes that could undermine the country’s emergence from conflict and crisis

Farida, her school bag on her back and her face betraying a hint of a smile, sings softly on her way to school in Juba, the capital of South Sudan. Along with thousands of other South Sudanese girls, Farida has been able to attend class thanks to a project that…

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

African Development Bank Invests in Pioneering SPARK+ Africa Fund to Deliver Clean Cooking Solutions

The Bank’s investment, which will come from its Sustainable Energy Fund for Africa (SEFA), is expected to enable the participation of other interested investors

The African Development Bank’s (https://www.AfDB.org/) Board of Directors has approved a $5 million investment in the SPARK+ Africa Fund to deliver clean cooking solutions to over two million households across Africa. The European Commission will contribute an additional €10 million. The Bank’s investment, which will come from its Sustainable Energy…