The President of the African Development Bank Group (AfDB), Dr. Akinwunmi Adesina, has urged African leaders to increase investments in African youths in order to ensure a fulfilling future for the youths and position the continent’s economies on the path of sustainable growth. Adesina, gave this charge during the Africa Day Celebration which commemorates the […]
…As Buhari canvasses more support for farmers The African Development Bank Group (AfDB), on Wednesday hinted of its plans to commit $10 billion over the next five years to boost Africa’s efforts to end hunger in the continent and transform it into a primary food provider for itself and the global community. The […]
The African Development Fund (ADF), the concessional window of the African Development Bank Group (AfDB) providing grants and soft loans, has approved $8.9 billion to its 2023 to 2025 financing cycle to support low-income countries in the continent. The $8.9 billion package, which is the largest replenishment in the history of the Fund, was approved […]
The President of African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has projected that Africa would require between $100 billion to $127 billion yearly between now and year 2030 to bridge climate change financing gap in the continent. The AfDB President, who gave these figures on Monday in his paper delivered at the Africa Climate […]
In a bid to modernise Nigeria’s capital markets and ensure that it is well positioned to support economic transformation driven by private sector investment, the African Development Bank Group (AfDB) and the Securities and Exchange Commission (SEC) Nigeria have signed an agreement on $460,000 grant for Nigeria’s capital market surveillance system project. The grant is […]
The Board of Directors of the African Development Fund (ADF) has approved a technical assistance grant of $2 million to fund research that will contribute to electricity reforms in the Economic Community of West African States (ECOWAS). The approved grant, which is the concessional window of the African Development Bank Group (AfDB), will be paid […]
The African Development Bank (AfDB) has signed an agreement to invest in the Joint Reinsurance Company of member-states of Conférence Interafricaine des Marchés d’Assurances (CICA-Re). Under the agreement, the development finance institution will take a 6.56-billion FCFA stake (approximately €10 million) in CICA-Re and join its board of directors. In formalizing the deal, chief executive […]
The African Development Bank Group (AfDB) has warned African countries, including Nigeria, of a looming surge in the prices of food, and energy among others in the coming months as the Russia-Ukraine war continues its disruptive impact on global food supply chain. In a statement on its website, the bank attributed the warning to its […]
The African Development Bank (AfDB) on Wednesday announced the banning of a Nigerian company, Maxicare Company (Nigeria) Limited for 36 months with effect from 23 February this year over fraudulent practices. The development finance institution stated that company’s debarment was to the findings of an investigation conducted by its Office of Integrity and Anti-Corruption which […]
The African Development Bank Group (AfDB) has issued a sanction decision against Mitsubishi Heavy Industries Limited (MHI) over alleged shoddy execution of a power project in Egypt. The continental development finance institution’s query to the company issued on 2 February 2021, was made public today. A news report circulated by the African Press Organisation (APO) […]