The African Development Bank (AfDB) and the Coalition for Dialogue on Africa (CoDA), an independent African forum, announce a three-year project to help curb money laundering, bribery and other illicit financial flows (IFF) in African nations. The formal launch of the African Financial Integrity and Accountability Support Project (AFIAP) was…
Laureen is the editor of Africa Times
The African Development Bank (AfDB) is inviting private sector organizations in the Central Africa region to reach out with plans for viable projects, now that there’s an additional US$5 billion in funding through the AfDB Enhanced Private Sector Assistance (EPSA) program. Priority projects focus on providing power and connectivity, as…
Condolences poured in from across the world over the death of Japan’s former prime minister, Shinzo Abe, with the leaders of African nations expressing sorrow over the tragic shooting Friday during Abe’s speech in the city of Nara. Pravind Kumar Jugnauth, prime minister of Mauritius, said he was deeply shocked…
Akinwumi Adesina, head of the African Development Bank (AfDB), says he was in the VIP lounge of Dakar’s Blaise-Diagne International Airport with Senegal’s economic minister this week when another African dignitary walked in. The surprise guest was Moussa Faki Mahamat, head of the African Union Commission. What followed, the AfDB…
The African Development Bank (AfDB) has announced the approval of €10.5 million in investment funds to support African tech entrepreneurs through the Janngo Start-Up Fund. The funds include €7 million from the AfDB and a €3.5 million contribution from the European Union and the Organization of African, Caribbean and Pacific…
A group of global development banks announced an $80 billion commitment to invest in African economies on Monday, following on the closely watched weekend G7 Summit in the United Kingdom. The funding will come from the development banks of the G7 nations, along with the private-sector branch of the African…
South African President Cyril Ramaphosa says his country will begin reducing carbon emissions in 2025, 10 years earlier than previously projected. “With regard to our energy resources, we plan to build capacity to generate over 17 gigawatts of renewable energy by 2030,” said Ramaphosa, speaking at the Leaders Summit on…
There’s not a lot of fashion news covered here at AT, but there’s a good reason when the African Development Bank (AfDB) and its partners announce a Fashionomics Africa contest to advance the circular economy. The inaugural online contest invites African fashion designers and brands to submit their “best sustainable…
Akinwumi A. Adesina has been re-elected to another five-year term as president of the African Development Bank, during a board vote that came on the last day of the AfDB annual meeting. Adesina received the unanimous vote of all regional and non-regional AfDB members, despite questions about his leadership raised…
Liberia’s clean-energy plans are getting a boost from the African Development Fund, which has approved a $34.7 million grant and loan package to improve renewable energy access and promote investment in the West African nation. Renewable Energy for Electrification in Liberia, the first project, has been awarded more than $33…
For many African nations, the economic challenges remain enormous. Zimbabwe, for example, saw its extreme poverty rate increase by 5 percent in 2019, leaving a third of the nation – some 5.7 million people, according to World Bank – to deal with sharp inflation and shortages, all from the most…
Laureen is the editor of Africa Times
In Kigali, the African Development Bank has kicked off its World Summit on Gender with appeals to improve women’s access to financial resources they need to grow businesses and boost development. And with that, they received an endorsement from AfDB president Akinwumi Adesina. “When women borrow, they always pay back….
Africa’s vision for the “Blue Economy” got a boost from African Development Bank Group (AfDB) this week, with the announcement of US $13.2 million in financing for fisheries and aquaculture in Malawi. The country’s government will add another $1.38 million for the Sustainable Fisheries, Aquaculture Development, and Watershed Management project…
Angola is the latest of Africa’s Portuguese-speaking nations to sign on to the Lusophone Compact, which seeks to boost private-sector development in partnership with Portugal and the African Development Bank (AfDB). The compact is an initiative that links the six Portuguese-speaking nations – Angola, Cabo Verde, Equatorial Guinea, Guinea-Bissau, Mozambique,…
A study that looked at the potential regional impacts of the African Continental Free Trade Area (AfCFTA) agreement suggests that it’s Central Africa that stands to gain the most from a unified African market of 1.3 billion consumers, and the easier movement of people and goods across borders. Research director…