The Africa Investment Forum’s 2023 Market Days generated $34.82 billion in investment interest for infrastructure, agriculture, health, and creative industry projects. The three-day global event, with the theme “Unlocking African Value Chains,” ended on Friday in the Moroccan city of Marrakech, the event drew over 1,000 delegates from more than 60 countries. “We are building…
African Development Bank President Akinwumi Adesina on Thursday pledged greater commitment to the development of cities and stressed the need for increased investment and autonomy for municipalities, the continent’s engine for economic growth. The Bank chief spoke at a high-level forum for mayors titled: “Leveraging Cities and Municipalities for National Development,” held on the sidelines…
The African Development Bank (www.AfDB.org) has signed a Memorandum of Understanding (MoU), joining global partners to mobilise resources for the Lobito Corridor and the Zambia-Lobito rail line in southern and central Africa. Other signatories included the United States government, the European Commission, the Africa Finance Corporation (AFC), and the host governments of Zambia, Angola and…
The Board of Directors of the African Development Bank Group (https://www.AfDB.org/en) has approved South Africa’s Country Strategy Paper (CSP) 2023-2028. The Bank’s interventions over the next five years will focus on two priority areas: improving governance and developing the private sector in southern Africa’s largest and most populated country. The CSP 2023-2028 aims to support…
The Board of Directors of the African Development Bank Group (http://www.AfDB.org) has approved a $23.6 million loan for the construction and equipment of a new aviation training facility in the Rwandan capital, Kigali. The proposed Centre of Excellence for Aviation Skills (CEAS), including an aircraft hangar, will partner with higher learning institutions to produce a…
The Board of Directors of the African Development Bank Group (www.AfDB.org) granted funding of USD 13.15 million to Burundi on 5 October 2023, to help the country implement Phase 1 of the Water Sector and Climate Resilience Building Support Programme. The funding comes from the Transition Support Facility (https://apo-opa.info/3CSPRhx), one of the Bank’s funding mechanisms aimed…
The African Development Bank Group (www.AfDB.org) and the African Guarantee Fund have made a strong case for the positive impact of increasing women’s financial inclusion on Nigeria’s economy before an audience of senior Nigerian government and banking leaders. The two institutions opened the AFAWA Finance Series Nigeria, part of the African Development Bank’s Affirmative Finance…
Egypt issues Africa’s first Sustainable Panda Bond worth 3.5 billion RMB backed by African Development Bank and Asian Infrastructure Investment Bank. She will use the bond proceeds for inclusive growth and green objectives under its Sovereign Sustainable Financing Framework Egypt has successfully issued a 3-year Sustainability Panda Bond worth RMB 3.5 billion ($478.7 million). The North African…
Unlocking women’s economic power and closing the gender gap will not only help us achieve Sustainable Development Goal 5—which is focused on gender equality— it will also help accelerate progress towards many of the 16 other goals Last month, I represented the African Development Bank’s Gender, Women and Civil Society Department at the Alliance…
The African Development Bank Group’s (www.AfDB.org) Chief Economist, Prof Kevin Chika Urama, has urged entrepreneurs in Nordic countries and Ireland to make Africa their business and investment destination. Prof Urama, on an official visit to Denmark, Finland, Ireland, Norway and Sweden between 25-29 September, said Africa’s population boom – projected to make it the world’s…
