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…
Land governance regulating access, use and ownership of land is critical to the successful implementation of the African Continental Free Trade Area (AfCTA) and is needed to promote inclusive and sustainable development, experts at an African land policy conference heard. Leontine Kanziemo, the Africa Development Bank’s advisor on Natural Resources Management, told the opening session…
This past June, world leaders gathered in Paris for the Summit for a New Global Financing Pact. The goal was to review and revise the current global financial architecture to create a more just and beneficial system, especially for the nations and people of the Global South. Discussions included rechannelling the International Monetary Fund’s (IMF’s)…
On 21st September 2023, the world marked the International Day of Peace. This year’s theme is Actions for Peace: Our Ambition for the #GlobalGoals, which the UN describes as a call to action for collective and individual efforts to foster peace. The African Development Bank Group has forged partnerships that underscore a commitment to achieving…
The African Development Bank President, Dr Akinwumi Adesina, has submitted that the global financial architecture constrains Africa’s development, recommending five ways it can be made fairer. Speaking at a high-level roundtable—Towards a Fair International Financial Architecture—at the 78th United Nations General Assembly last week, Adesina said the international financial architecture was not delivering the scale of…
Africa Finance Corporation (www.AfricaFC.org), the leading infrastructure solutions provider on the continent, today announced the successful signing of a US$300 million loan facility agreement with the Export-Import Bank of China (CEXIM). This landmark agreement, signed on the sidelines of the Asian Infrastructure Investment Bank (AIIB) Annual meetings in Egypt, is poised to drive increased trade…
As the upstream industry undergoes a global shift toward decarbonization, a strategic panel at Angola Oil & Gas 2023 Conference & Exhibition has called for innovation in decarbonizing Angola’s Oil & Gas Operations Angola’s leading oilfield service providers discussed how to innovate and accelerate the deployment of low-carbon technologies during the closing panel on Day…
The 2023 Africa Food Systems Summit held recently in Dar es Salam has called on African leaders to build better food systems and promote food sovereignty, with youth and women at the centre. On the sidelines of Africa’s annual agriculture summit, the African Development Bank Group hosted a food sovereignty and resilience event. This follows…
