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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Nigerians in Diaspora have commended the African Development Bank (AfDB) for its funding and capacity building supports for key projects critical to the socio-economic transformation of Nigeria and other countries in Africa. A statement issued by the Nigeria Country Department of the bank on Friday, indicated that the representatives, who comprised women and youth groups, […]
President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, on Monday disclosed that the bank was set to deliver climate-adapted, certified wheat and other staple crop seeds to 20 million farmers in the continent. Adesina, who gave this hint in a document titled ‘Averting an African Food Crisis: The African Food Production Facility’ in […]
Fitch Ratings, one of the world’s leading rating agencies, has affirmed the African Development Bank’s (AfDB’s) long-term credit rating: AAA with a Stable Outlook. The latest rating represents a very strong endorsement of the development finance institution’s financial strength and profile, as well as the extraordinary support of its shareholders. Fitch in its latest affirmation […]