The Clean Technology Fund (CTF) approved $20 million for the Facility for Energy Inclusion, a facility sponsored by the AfDB to provide sustainable financing for small-scale renewables in Africa.
The African Development Bank Group has signed a US$4.8m institutional support grant to the African Union for implementation of the African Continental Free Trade Area agreement (AfCFTA).
African Development Bank and Ethiopia sign agreement for first phase of Ethiopia–Djibouti transport corridor
The government of Ethiopia and the African Development Bank Group have signed a $98 million grant agreement from the African Development Fund (ADF) to help finance phase one of the Ethiopia–Djibouti Road Transport Corridor Project.
Africa's key development partners formalize their commitment to address food and nutrition security in the continent
In partnership with the African Union, leaders of four multilateral agencies, AfDB, FAO, IFAD and the World Bank, called for a high-level meeting with development partners in Kigali, Rwanda at the first Africa Food Security Leadership Dialogue.
The President of Namibia officially launched the refurbished harbour on 2 August 2019, together with the Chairperson of the Board the Namibian Port Authority and the Operations Manager of the Southern Africa office of the AfDB.
The African Development Bank has extended a $3 million grant from the Transition Support Facility (TSF) to the Republic of The Gambia for sustainable urban development of the greater Banjul Area.
Guinean Head of State Alpha Condé and President of the African Development Bank Group Dr. Akinwumi A. Adesina have officially opened the new Country Office for Guinea.
The Board of Directors of the African Development Bank Group has approved a $8 million-targeted financing to Kenya's Credit Bank for lending exclusively to small and medium enterprises.
The African Development Bank and the African Institute for Mathematical Sciences signed a Memorandum of Understanding on Monday to strengthen education, training and research in mathematical sciences in Africa.
AfDB, Portugal and Cabo Verde sign compact to accelerate diversification, private sector development
The African Development Bank and the governments of Cabo Verde and Portugal have signed a country specific memorandum of understanding for the implementation of the Lusophone Compact.
Established to provide concessional buffer to needy economies on the continent, ADF is not only facilitating rapid roll-out of development projects, but its investments continue to transform and sustain lives, beneficiaries say.
The African Development Bank (AfDB) Group signed an agreement with Cameroon to open its regional headquarters in the country’s capital, Yaoundé, reinforcing its goal to get closer to member states.
The Board of Directors of the African Development Bank (AfDB) approved a loan of EUR 26.5436 million to the Republic of Equatorial Guinea to finance the project to support the Modernization of Public Finance (PAMFP).
The African Development Bank Group has announced the debarment of Qualitrends Global Solutions Nigeria Limited, a construction company registered in Nigeria, for a period of 36 months.
The African Development Bank has approved a €100 million partial credit guarantee to the structured finance company, African Agriculture Impact Investments Ltd (Mauritius), to develop commercial agriculture in Africa.
The Governing Committee of the Women Entrepreneurs Finance Initiative (We-Fi) has approved a funding allocation of $61.8 million for the African Development Bank’s Affirmative Finance Action for Women in Africa program.
Ivorian Minister of Tourism Siandou Fofana has presented a strategy document aimed at making Côte d'Ivoire Africa's fifth biggest tourism destination from 2025 to the African Development Bank.
AfDB extends $80 million line of credit to boost Botswana's industrialization and regional integration projects
African Development Bank Group has approved an $80 million line of credit to the Botswana Development Corporation Ltd, BDC, to help the country’s industrialization and regional integration.
The Agriculture Fast Track Fund (AFT), hosted by the African Development Bank, has announced $ 3,390,000 funding for 17 new small and medium enterprises in the agriculture sector in Africa.
Since 2016, the AfDB has supported up to 1.7 million US dollars, the project of support to the employ-ability and insertion of young people in the growth sectors of Togo, which has created 35,000 jobs in SMEs in agriculture.
The Board of the African Development Bank has approved a $15-million investment package to Infrastructure Credit Guarantee Company to support infrastructure financing in Nigeria.
The Board of the African Development Bank has approved an institutional support grant of $4.8 million to the African Union (AU) to accelerate the momentum of the African Continental Free Trade Area Agreement.
Economic growth in East Africa is soaring ahead of other regions on the continent at close to 7 percent while the overall outlook for the rest of Africa is cautious, but positive.
One hundred and sixty young women have begun a month-long coding class on two Nigerian campuses under a new programme to give African youth digital skills for the work force.
The refurbishment of the old Saint Louis power station by the African Development Bank (AfDB) has brought a breath of fresh air to those working at and living in the north west of Mauritius.
The AfDB Board has approved the allocation of $20 million in loans to the Democratic Republic of Congo, to support renewable-based mini-grid solutions to the off-grid cities of Isiro, Bumba and Genema.
AfDB has approved a €12.5 million equity investment in Adiwale Fund 1, a first-generation private equity fund targeting high growth potential Small and Medium Sized Enterprises in Francophone West Africa.
The Adaptation Benefits Mechanism (ABM) is an innovative mechanism for mobilising new and additional public and private sector finance.
The Italian Government has signed an agreement for an additional €1 million contribution to the AfDB Multi-Partner Somalia Infrastructure Fund.
The African Development Bank and the governments of Mozambique and Portugal have signed a Mozambique-specific Memorandum of Understanding for the implementation of the Lusophone Compact.
Inhabitants of Kenya,Tanzania, Uganda and Ethiopia will enjoy uninterrupted supply of electricity with the upcoming commissioning of a power transmission line to interconnect Kenya and Ethiopia, powered by the AfDB.
Africa's general economic performance continues to recover and GDP growth is projected to accelerate to 4.0 percent in 2019 and 4.1 percent in 2020.
The African Development Bank Group, through its Trade Finance operations, has approved a US$14.12 million facility to support the Federal Republic of Nigeria’s membership in the African Trade Insurance Agency.
The African Development Bank has invested €40 million to modernize the Owendo International Port.
The African Development Bank’s Board has approved the institution’s 2019 borrowing program to the tune of US$7.24 billion from capital markets.
The African Development Bank is keeping higher education, science and technology at the top of its development agenda as it backs a proposed African Education Fund.
The Board of Directors of the African Development Bank has approved a $7.5 million equity investment in Africa Tech Ventures (ATV) to boost operations of highly scalable companies.
The Board of Directors of the African Development Bank has approved a senior loan of ZAR 3 billion to the 100 MW Redstone Concentrated Solar Power Project
The African Development Bank Group has approved a $18.17 million senior loan to the 40 MWac Kopere Solar Power Project owned by Voltalia.
The African Development Bank rated has successfully priced a dual-tranche $500 million 3-year and $100 million 2-year SOFR-linked Green bond, becoming the first issuer to bring to the market a SOFR-linked Green Bond transaction.
The Board of Directors at the African Development Bank (AfDB) have agreed to a first rank loan of 51.26 million euros to finance the construction of a power plant in Malicounda, Senegal.
The African Development Bank (AfDB) has approved a €17.96 million loan to the Republic of Cameroon to finance the construction of a Ring-Road Project in the North-West Province of the country.
In 2016 and 2017, the African Development Bank granted two budget support to Gabon , to support the country's reforms.
The African Development Bank (AfDB), as part of its African Women's Access to Finance Initiative (AFAWA), is partnering with Entreprenarium to build the capacity of 1,000 women entrepreneurs on the continent.
The Board of Directors of the African Development Bank has approved its third equity investment of $40m in Africa Infrastructure Investment Fund (AIIF3).
The African Development Bank has unveiled the Africa Energy Portal, AEP, a platform that will consolidate, validate, and disseminate energy data and insights across Africa’s energy value chain.
With its vast agricultural potential, Africa’s agribusiness sector is predicted to reach US$1 trillion by 2030. Agribusiness will become the ‘new oil” on the continent.
The African Development Bank alongside Islamic Corporation for the Insurance of Investment and Export Credit, African Trade Insurance Agency and GuarantCo, on Wednesday entered into a Memorandum of Understanding for a Co-Guarantee Platform.
The AfDB launched its Room2Run initiative last month which effectively freed up $700m off the bank’s balance sheet. We spoke to Raza Hasnani from Africa50 fund who helped structure the deal.
The African Development Bank Group has approved a US$15 million grant from the African Development Fund for a water supply and sanitation project in Malawi, expected to provide jobs and boost the livelihoods of nearly 300,000 people.
The African Development Bank and African Trade Insurance Agency have announced the successful completion of a US$500 million credit insurance deal structured to cover a portion of the Bank’s portfolio of non-sovereign operations in Africa.
The President of the African Development Bank Group, Dr Akinwumi A. Adesina, has announced new appointments to the Group.
The African Development Bank recently convened a meeting of experts in the agricultural sector to design integrated pest and disease management mechanisms for controlling the spread of the Fall Army Worm in East Africa.
The African Development Bank has approved a loan of $266 million to support Rwanda’s program to improve electricity supply reliability and expand access to electricity.
According to the July issue of Africa Tourism Monitor 2018, recently published by the African Development Bank, the continent earned $36.2 billion in revenue from 62.9 million international visitors in 2016.
The African Development Bank has approved a $50 million line of credit to Nigeria’s Sterling Bank Plc to support micro, small and medium sized enterprises (MSMEs) in strategic sectors.
The African Development Bank has approved a $217.9 million loan to South Africa’s power utility Eskom Holdings Ltd, towards the upgrade and expansion of its transmission facilities.
The African Development Bank has called on global partners to join hands to lift one billion people worldwide out of hunger and said it was leading the way by investing $24 billion in African agriculture.
The African Development Bank’s Fund for African Private Sector Assistance (FAPA), has provided funds totaling nearly US $2 million to its Jobs for Youth in Africa initiative.
The African Development Bank has approved a US$1.5 million grant from its Sustainable Energy Fund for Africa (SEFA), to assist Ghana’s s renewable energy investment drive.
The African Development Bank’s Fund for African Private Sector Assistance, has approved a grant of US $1 million to Liberia, to provide technical assistance to its fast-growing wood processing industry.
The African Development Bank, rated triple AAA by the international rating agencies Moody's, S & P and Fitch, has proceeded with a new benchmark bond of $ 2 billion to five years, which will expire on September 20, 2023.
The African Development Bank Group has extended a loan of €84 million to Cameroon to support livestock and fish production in the central African country in line with the Bank’s strategies to create jobs and raise household incomes.
The African Development Bank has created and refined a new tool to diagnose fragility in countries, taking into account their capacities and pressures they may be under.
The Board of Directors of the African Development Bank Group has approved the Bank’s Policy on Non-sovereign Operations (NSO).
The African Development Bank group has committed to support Equatorial Guinea’s economic diversification into agro-industry and a program of capacity building to foster public policies.
The African Development Bank Group has signed loan and grant agreements with the Government of Togo for a total of some 16.63 billion FCFA, as part of its Food Processing Project.
The African Development Bank (AfDB) and FAO have agreed to boost joint efforts aimed at catalysing agriculture sector investments in Africa to end hunger .
The Government of the Republic of Namibia and the African Development Bank have signed a loan agreement worth US$ 217.8 million (ZAR 3 billion) to finance the second phase of the Namibia Economic Governance and Competitiveness Support Program.
An African Development Bank mission led by Dr. Marcellin Ndong Ntah, Lead Economisthave visited the EAC headquarters in Arusha, Tanzania.
The African Development Bank Group is pleased to announce the appointment of Dr. Mateus Magala as Vice President for Corporate Services and Human Resources, effective from September 1, 2018.
The African Development Bank on Thursday signed a US$41-million grant agreement with Republic of Sudan to finance a public sector Agriculture Value Chain Development Project in the country.
Tunisia and the African Development Bank have signed an agreement for the launch of a pilot project to use drones for data collection to enhance management of agricultural projects in the country.
The Board of Directors of the African Development Bank has approved an unfunded US$ 250-million Risk Participation Agreement with ABSA Bank Limited.
The African Development Bank has approved a string of measures aimed at supporting South Africa’s economic development ambitions as an upper Middle-Income Country.
The African Development Bank, through its Trade Finance operations, and Afreximbank has signed a Grant Agreement to support the development of factoring on the continent.
Tanzania’s ongoing macroeconomic reform program has received a boost from the African Development Bank through a $40 million budget support loan to be provided by the African Development Fund, the concessional arm of the Bank Group.
The African Development Bank has signed a memorandum of understanding with the U.S. Trade and Development Agency to partner under USTDA’s Global Procurement Initiative: Understanding Best Value.
The Board of Directors of the African Development Bank Group has approved a line of credit of 100 million euros for the benefit of the Central People's Bank of Morocco (BCP).
In a bid to help Uganda improve heath and productivity in the country’s major towns, the African Development Bank has approved a US$ 62-million concessional loan to finance its Strategic Towns Water Supply and Sanitation Project.
Though African countries have developed robust institutional frameworks for the regulation of electricity sectors, much work remains in strengthening regulatory independence, says the Electricity Regulatory Index for Africa.
Africa’s infrastructure financing needs are huge. Innovative partnerships are needed to bridge the financing gap and accelerate infrastructure development in Transport, ICT, Water and Energy, that are considered as drivers for growth.
The African Development Bank Board has approved a US$15 million equity investment in Africa Food Security Fund (AFSF), to support enterprises in agri-business SMEs and enhance food security in Africa.
Kenya this week continues to strategically place itself to benefit from regional integration and reap from its warm relationship with development partners and international investors.
The African Development Bank approved on June 6, 2018 a senior loan of US $29.5 million and a concessional loan of US $20 million from the Climate Investment Funds Clean Technology Fund to Quantum Power East Africa GT Menengai.
The African Development Bank approved a US $15-million senior loan to GHL Bank PLC, which focuses on mortgage finance, to enhance its mortgage loan portfolio and help develop an effective affordable mortgage finance sector in Ghana.
[Africa Tech Week] Beyond borders partnerships herald new ICT dawn, Great tidings for tech startups, investment in technology soars
The Africa tech week has been abuzz with news of cross border public and private sector partnerships, companies aligning themselves with the burgeoning demands of the continent’s ICT sector and the growing IT spend.
South Korea ready to share its technological and industrial revolution experience with Africa says President Moon Jae-in
South Korean President Moon Jae-in has committed to sharing Korea’s technological and industrial experience with Africa and to help it compete in the 4th Industrial Revolution.
[Nigeria Business Week] With Construction, Agribusiness, Oil and Gas and startup hubs, Nigeria leaves no sector behind
Two years ago Nigeria was as good as drowning in debts, unemployment, reduced investment and general widespread discontent. Today, though still a work in progress, the country has exited recession and is fast regaining its momentum.
The CEO of Equity Group Holdings Plc in Kenya, James Mwangi, won Banker of the Year.
The African Development Bank and the United Nations Industrial Development Organization signed a Memorandum of Understanding on Monday, May 21 to step up collaboration to boost Africa’s industrialization.
[Nigeria] African Development Bank approves $100m loan to Indorama for expansion of fertilizer production
The African Development Bank has approved $100m senior loan to Nigerian firm, Indorama Eleme Fertilizer & Chemicals, to support the company’s plans to double its fertilizer production from 1.4 million tons of urea to 2.8 million tons per annum.
The Board of Directors of the African Development Bank has approved EUR 200 million loan to support inclusive and Sustainable Development of Agricultural Value Chains in Morocco.
The Agriculture Fast Track Fund supports Africa-based agri-business SMEs by financing the development costs of agriculture infrastructure projects that span the value chain from rural feeder roads to agro-processing and marketing facilities, to out-grower schemes.
The African Development Bank has signed two grant agreements to finance agri-business development projects through the Agriculture Fast Track Fund.
The African Development Bank Group has announced the conclusion of a settlement agreement with CHINT Electric Co., Ltd., a power transmission and distribution equipment manufacturer and EPC contractor.
The African Development Bank has launched the Say No to Famine – Short-Term Regional Emergency Response Project, STRERP, for Somalia.
The European Investment Bank and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country.
Overseas Private Investment Corporation, AfDB and ALCB Fund sign loan agreement to support capital markets and high impact sectors in Africa
Overseas Private Investment Corporation (OPIC), the African Development Bank (AfDB) and ALCB Fund Board Members have signed a loan agreement to support high impact sectors in Africa focusing on housing, agriculture and SMEs.
Trade Finance Operation inks $100 million soft commodity finance facility agreement with the Export Trading Group
The African Development Bank has signed a loan agreement for a soft commodity finance facility with the Export Trading Group.