Category: Newsline
Competition key in telecom sector, says Maida
Executive Vice Chairman (EVC) of the Nigeria Communications Commission, Dr. Aminu Maida, has said that competition is key to the healthy growth of the telecoms sector. Speaking on Wednesday when he received a delegation of management of Airtel Networks Limited in Abuja, Maida said that the Commission will give closer attention to managing the competition…
Maida Promises Support for Meta on Undersea Cable Initiative
Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has stated that the support of the Commission awaits law-abiding investors like Meta, (formerly Facebook), who respond positively to Nigeria’s desire for investments that promote the agenda of government to achieve a robust digital economy. Speaking when he…
NASENI EVC To Speak at COP28 On Homegrown Technologies For Rural Electrification
The Executive Vice Chairman/Chief Executive Officer (EVC/CEO), National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu is set to detail the Agency’s plans and strategies for rural electrification in Nigeria using homegrown technologies at the 2023 United Nations Climate Change Conference, also known as Conference of the Parties (COP28), holding at the…
AfDB Group approves Country Strategy Paper (CSP) 2023-2028 for Malawi
The Board of Directors of the African Development Bank Group has approved the Country Strategy Paper (CSP) 2023-2028 for Malawi. The strategy focuses on two priority areas: improving economic infrastructure to develop the industrial sector by investing in energy, transport, water, sanitation, and hygiene, and supporting economic diversification through investments in agriculture value chains. “The…
AfDB supports new hygiene, water and sanitation projects in Burkina Faso with €43 million
The African Development Bank Group has committed €43 million to two new projects that will boost access to hygiene, water and sanitation and the resilience of vulnerable communities in Burkina Faso. The projects, which the Burkinabe government launched on 21 November, include the Water and Sanitation Services Improvement Project for Resilience Building (PASEPA-2R), covering six…
Resource-rich Africa has no excuse to remain poor, says AfDB president
With $6.2 trillion worth of natural resources, 65 percent of the world’s uncultivated arable land, and a vibrant youth population, Africa has no excuse to be poor, African Development Bank Group President Dr Akinwumi Adesina said on Tuesday. He said the continent must look inward urgently to solve its many challenges and urged citizens to hold governments…
AfDB lends Kenya €73 million to improve economic governance and boost industrial development
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 Development Bank Revises Economic Forecast for Africa downwards
The African Development Bank has revised its short to medium-term macroeconomic forecast for Africa, for 2023 and 2024 downwards to 3.4% and 3.8%, from 4.0% and 4.3%. The slightly lower figures reflect the persistent long-term effects of COVID-19, geopolitical tensions and conflicts, climate shocks, a global economic slowdown, and limited fiscal space for African governments…
AfD commits more than €101 million to boost access to electricity in Kenya
The Board of Directors of the African Development Bank Group has approved a €101.10 million loan to Kenya to implement the third phase of the Last Mile Connectivity Project. The project will improve electricity access for households, social infrastructure and micro, small and medium enterprises. The project will also benefit from a $13.17 million (€12.12 million) loan…
Africa urges a spotlight on climate finance as the world heads to COP28
The African Development Bank will mobilize financing for climate action at this year’s UN Climate Change Conference, COP28, and amplify Africa’s calls for robust commitments by wealthy countries to meet the continent’s urgent needs in addressing climate change. The Bank Group, led by its President, Dr Akinwumi Adesina, will launch and cement several climate action…