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Nigeria Misses Out In Africa’s Top Industrial Nations’ Ranking Chart – Report

A new report by the African Development Bank (AfDB), the African Union (AU) and the United Nations Industrial Development Organization (UNIDO) has revealed that Nigeria, commonly rated as the ‘Giant of Africa’, did not rank among the fast-growing industrial countries in Africa. The just published Africa Industrialization Index (AII) report indicated that 37 out of […]

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ADF Board Approves $27.9Mn Grant For Ghana’s Agric Project

The Board of Directors of the African Development Fund has approved a $27.9 million grant to Ghana for the development of agricultural value chains in the Savannah region to increase climate-resilient production of maize, rice and soybean, support the poultry value chain, and generate employment for women and youth in the country. The grant also aims […]

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We’ve Signed Pacts Worth $395Mn To Boost Rural Electricity – REA

The Rural Electrification Agency (REA) on Tuesday disclosed that it had so far signed 267 agreements worth about $395 million to provide electricity to un-served and under-served consumers under the Nigeria Electrification Programme (NEP) nationwide. The agency’s Managing Director, Engr. Salihijo Ahmad, who gave this hint in Abuja during an interactive chat with journalists, explained […]

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AIF Draws $63.8Bn Investor Interest To Africa In 2022 – AfDB

The African Development Bank (AfDB) has reported that the Africa Investment Forum (AIF) Market Days held this year drew a total of $63.8 billion in investment interest from African and global investors to the continent. The development finance institution gave this figures in a statement hoisted on its website on Monday. According to the bank, the 2021 Africa […]

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AfDB Launches Livelihood Improvement Project For Youths In Nigeria, Others

The African Development Bank (AfDB) has launched a multinational project to create jobs and improve livelihoods for youths in three African countries, namely Nigeria, Democratic Republic of Congo (DRC) and Uganda. The initiative tagged ‘The Creating Sustainable Youth MSMEs Through Urban Farming (SYMUF)’ will support young farmers in the three countries who are attracted to urban […]

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AFAWA, AFI Tasks African Ministers, Bankers On Women’s Financial Inclusion

The African Development Bank’s Affirmative Finance Action for Women in Africa programme (AFAWA) and the Alliance for Financial Inclusion (AFI) have introduced African Finance Ministers and Central Bank Governors to a new partnership set to increase financial inclusion for women-led enterprises across the continent. At a round-table dinner held on the sidelines of the International […]

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Nigeria’s Public Debt Stock Rises To N42.84Trn In Q2 2022

The Debt Management Office (DMO) has reported that Nigeria’s total public debt stock increased to N42.84 trillion as of June, up from the N41.60 trillion it stood at the end of March this year. The latest figures represent an increase of N1.24 trillion in three months and reflected the challenge facing the fiscal authorities to […]

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Africa Loses 15% Of GDP To Climate Change – AfDB Chief

The African Development Bank’s (AfDB’s) Acting Chief Economist and Vice President, Prof. Kevin Urama, has said that Africa is losing between five percent to 15 percent of its Gross Domestic Product (GDP) per capita growth to climate change and its negative impacts on the countries in the continent. Urama, was quoted in a statement posted […]

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AfDB Issues €1.25bn 7-Year Social Bond Due In Sept 2029

The African Development Bank (AfDB), in furtherance of its sustained efforts to raise new funds to cope with the socio-economic problems in the African continent, has launched a new €1.25 billion seven-year Global Benchmark transaction, in a Social Bond format, due Sept. 14, 2029. The latest EUR transaction marks the development finance institution’s second EUR […]

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EIB President Supports Africa’s Climate Adaptation Projects

European Investment Bank (EIB) has expressed its readiness to collaborate with African governments on accelerating climate adaptation in the continent. The EIB President, Werner Hoyer, made the promise at the Africa Adaptation Summit, the first-ever global summit to focus solely on accelerating climate adaptation in Africa organized by the Global Center on Adaptation (GCA), in […]