Adesina elected to 2nd term as AfDB president

Adesina elected to 2nd term as AfDB president

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 gets $35 million in renewable energy funds

Liberia gets $35 million in renewable energy funds

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…

Summit in Kigali aims to boost women’s entrepreneurship

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….

Malawi gets $13 million to boost its Blue Economy

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 joins investment-focused Lusophone Compact

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,…

Study: AfCFTA to bring biggest benefits to Central Africa

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…

Nearly $62 million is headed to Africa to support women in business

Nearly USD$62 million for women in business is headed to the African continent, after the Women Entrepreneurs Finance Initiative (We-Fi) announced on Monday its funding allocation for the African Development Bank and its own women-focused programs. The funding through AfDB’s Affirmative Finance Action for Women in Africa (AFAWA) will be…

Talking African economy at Davos: The AfCFTA and a unified market

When it comes to a unified African market – the topic of Tuesday’s panel discussion at the World Economic Forum in Davos – Bernard Gautier, deputy CEO of French investment firm Wendel Group, made it easy to see the existing barriers to business and Africa’s economic growth. There’s an office…

Laureen Fagan

Laureen is the editor of Africa Times

AfDB investment forum highlights Africa-2-Africa investment

The Africa Investment Forum ended Friday with some 45 deals worth over US$32 billion set in motion with secured investment interest, and a promising emphasis in the continent’s Lusaphone nations. More than 1,000 delegates attended the three-day event in Johannesburg, according to the African Development Bank (AfDB). South Africa, Germany…

Green Climate Fund boosts 3 new projects in Africa

The Green Climate Fund (GCF) has approved USD$110 million in funding for three proposals from the African Development Bank (AfDB), including a mini-grid project for Democratic Republic of Congo. The AfDB will match $21 million in GCF loan and grant funding to build three pilot solar PV plants and the battery…

AfDB gets high marks for development aid transparency

The African Development Bank was ranked fourth in the world in the latest Aid Transparency Index Report, an independent measure of the world’s major development and humanitarian agencies. “The index found that while organizations provide information on the objectives of their operations, only four DFIs – the Asian Development Bank,…

Japan commits USD$700 million to African Development Fund

In a first for Japan, the country’s International Cooperation Agency (JICA) has signed a new loan agreement with the African Development Fund to provide USD$700.9 million to address poverty and support economic growth. “We hope the loans and grants will be used effectively to improve economic and social conditions of…

AfDB touts agriculture, infrastructure in new African Economic Outlook report

Infrastructure investment remains at the core of African economic development, says Akinwumi Adesina, president of African Development Bank (AfDB), as the bank rolls out its 2018 African Economic Outlook. “Infrastructure, when well managed, provides the financial resources to do everything else,” said Adesina, speaking from the bank’s headquarters in Abidjan, Côte…