The African Development Bank Group has reaffirmed its commitment to supporting Guinea’s efforts to diversify its economy and mobilize domestic resources for crucial development projects. Marie-Laure Akin-Ougbade, the Bank Group’s vice president for Regional Development, Integration and Business Delivery, reiterated this commitment during a three-day visit to the Guinean capital, Conakry, from July 11 to…
African Export-Import Bank (Afreximbank) and Câmara de Comércio de Sotavento have announced a strategic partnership to host the 2024 Trade and Business Roadshow in Praia, Cape Verde. This landmark event, scheduled for July 29 – 30, 2024, is aimed at diversifying, fostering and supporting the economic growth in Cape Verde. The Roadshow, themed “Catalysing Local…
Within the framework of promoting Intra-African Investment, African Export-Import Bank (Afreximbank) in collaboration with The Algerian Investment Promotion Agency (AAPI), successfully hosted Algeria Investment Forum, “Focus Algeria” in Algiers from June 25 to 26, 2024. The forum aimed at promoting investment opportunities in Algeria for African operators and brought together key Algerian partners and foreign…
The Board of Directors of the African Development Bank has approved a loan of €73 million to Kenya to support Phase III of the Competitiveness and Economic Recovery Support Programme. The financing will cover the fiscal year 2023-2024. It is intended to build resilience and support inclusive post-Covid-19 economic recovery, by improving economic governance and…
African countries still face significant capacity gaps in macroeconomic modeling, despite the huge strides they have made in terms of forecasting, analysis, and effective policy management, a new African Development Bank Group study has found. The report, Benchmark Macroeconomic Models for Effective Policy Management in Africa, was launched in the Ethiopian capital Addis Ababa by the Bank…
The Board of Directors of the African Development Fund has approved a grant of US$6.73 million to Mozambique to support the implementation of the Institutional Support Project for Business Environment and Governance. The aim of the project is to increase resilience through institutional capacity building to support private-sector development and the management of public finances….
Nigeria is widely known to be not only Africa’s most populous country but also the largest economy on the Continent and it is expected that strong economic growth in Nigeria would generate substantial prospects for growth and spillovers for the whole West African region. Despite the prospect of accelerated economic growth, the presence of multiple…
While the objective of the Nigerian Communications Commission in setting up Emergency Communications Centres (ECCs) across the country is primarily that of providing emergency communications services to Nigerians, the NCC has triggered further socio-economic development at the base of the economy through the project. Not only has the project come with the added benefits of…
Nigeria is enmeshed in a self-inflicted food crisis, even if it is one that is partly externally induced by the nature of the international economic order in which poor, but endowed countries, are reduced to exporting what they have, unrefined, in exchange for what they do not need, but have been conditioned to desire. No…
