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AfDB

Calls for increased investment in Africa’s biodiversity

Calls for increased investment in Africa’s biodiversity  The  African  Development  Bank (AfDB) and the Worldwide Fund for Nature (WWF), have launched a regional report on the performance of African countries under the Strategic Plan for Biodiversity 2011-2020.  The report highlights the important role that multilateral development banks can play in meeting biodiversity targets by providing …

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AfDB’s private equity fund targets renewables in Africa

AfDB’s private equity fund targets renewables in Africa The African Development Bank (AfDB) has approved an equity investment of USD20-million in Evolution Fund III (EVIII), a pan-African clean and sustainable energy private equity fund. Through Evolution Fund III, the AfDB will mobilise approximately USD400-million into renewable energy and resource-efficiency assets across sub-Saharan Africa over a …

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War in Ukraine dampen Africa’s growth prospects

War in Ukraine dampen Africa’s growth prospects Africa’s gross domestic product has recovered strongly in the last year, but the lingering effects of the Covid-19 pandemic, Russia’s invasion of Ukraine and the ensuing war could pose considerable challenges in the medium term. According to the 2022 African Economic Outlook, released by the African Development Bank …

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AfDB supports Guinea Bissau’s economic transformation

AfDB supports Guinea Bissau’s economic transformation African Development Bank Group President Dr Akinwumi A. Adesina has announced a financial package of USD30-million dollars to the West African nation of Guinea -Bissau. Adesina made the announcement last week during a visit to Guinea Bissau, where he met President Umaro Sissoco Embaló and senior government officials. Discussions …

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AfDB aims to improve agricultural productivity in Mozambique

AfDB aims to improve agricultural productivity in Mozambique The African Development Bank Group (AfDB) has approved a USD47.09-million grant for the first phase of Mozambique’s Pemba-Lichinga Integrated Development Corridor, a Special Agro-Industrial Processing Zone. The grant, from the African Development Fund, will help improve agricultural productivity and agribusiness development in the Niassa province by advancing …

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East Africa’s economic outlook bullish despite Covid-19 setback

East Africa’s economic outlook bullish despite Covid-19 setback East Africa is on the way to recovery after the severe setback suffered because of Covid-19 in 2019 and 2020. There are many signs that the East African economy is lifting its head after being constrained because of the global pandemic. According to the African Development Bank’s …

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AfDB to co-finance second phase of Lesotho Highlands Water Project

AfDB to co-finance second phase of Lesotho Highlands Water Project The African Development Bank Group’s (AfDB) Board of Directors has approved a loan of USD86.72-million to co-finance the second phase of the Lesotho Highlands Water Project. The multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho. The …

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Sudan could be a breadbasket but security remains a concern

By Leon Louw, founder and editor of WhyAfrica  24 July 2021 – Sudan could be the breadbasket of North and East Africa, but safety and security remains a concern that needs to be addressed.     The post-revolutionary state of Sudan has made great strides since disposing of despot Omar al-Bashir in 2018. There are concerns …

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AfDB grant launches Desert to Power West Africa Regional Energy Program

13 July 2021 – The Board of Directors of the African Development Bank Group (AfDB) has approved a USD6-million grant to launch the initial phase of the Desert to Power West Africa Regional Energy Program. Desert to Power, an initiative led by the Bank, is expected to transform the Sahel by harnessing the region’s abundant …

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AGF signs MoU with TADB to boost agribusiness in Tanzania

10 July 2021 – The African Guarantee Fund for Small and Medium-sized Enterprises (AGF) this week signed a Memorandum of Understanding (MoU) with the Tanzania Agricultural Development Bank (TADB) that will allow TADB to disburse more than USD20- million worth of loans to agribusinesses in Tanzania. The MoU, which was signed at the TADB Head …

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AfDB signs loan agreement to increase power generation in Tanzania

28 May 2021 – The African Development Bank Group (AfDB) and the government of Tanzania have signed a loan agreement to increase power generation in Tanzania. The USD140-million deal will focus mainly on the construction of the 50-megawatt Malagarasi hydropower plant in the Uvinza and Kigoma District Councils in the Kigoma Region of Western Tanzania. …

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Lusaka’s water point ambassadors turn the tap to protect residents from Covid-19

27 May 2021 – A water point attendant in Zambia’s capital Lusaka has a new role beyond filling up containers for residents at the community tap. John Nyambe spreads the word about the novel coronavirus – its dangers, and what residents can do to protect themselves. The role comes with a new title too – …

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African Development Bank Board approves water policy.

23 May 2021 – The Board of Directors of the African Development Bank Group (AfDB) has approved a new policy on water, prioritising water security and the transformation of water assets to foster sustainable, green, and inclusive economic growth in regional member countries. “This new policy on water provides a general framework for the AfDB …

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New technologies provide solutions to Africa’s agricultural challenges.

Abidjan, 26 April 2021 – Drones, satellites, geographic information systems, weather stations and advanced analytics are some of the most promising technologies for providing solutions to Africa’s agricultural challenges, according to the joint Digital Agricultural Profiles carried out by the African Development Bank, the Food and Agriculture Organisation of the United Nations (FAO) and CGIAR …

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Financing package signed for the construction of the largest solar plant in Egypt.

23 April 2021 – The European Bank for Reconstruction and Development(link is external) (EBRD), the OPEC Fund for International Development(link is external) (the OPEC Fund), the African Development Bank (AfDB), the Green Climate Fund(link is external) (GCF) and Arab Bank today signed a USD114-million financing package with ACWA Power for the construction of the largest private solar plant in Egypt. The development …

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AfDB funding to improve sanitation infrastructure in Egypt.

06 March 2021 – African Development Bank (AfDB) funding will improve sanitation infrastructure in Egypt. The Integrated Rural Sanitation in Upper Egypt-Luxor project is set to boost sewage coverage in the region from 6% to 55%.    The African Development Bank Group (www.AfDB.org) has signed financing agreements of €109-million with the Government of Egypt to …

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AfDB grant to South Sudan will boost agricultural markets.

08 February – The African Development Bank (www.AfDB.org) has signed protocols to disburse a USD14-million grant to the Government of South Sudan to boost agricultural markets in a project to be implemented by the UN’s Food and Agriculture Organisation (FAO). The Agricultural Markets, Value Addition and Trade Development (AMVAT) project aims to enhance agricultural productivity …

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