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53rd Annual Meetings of the African Development Bank: Board of Governors reviews the Bank’s performance
24-May-2018 - The Board of Governors of the African Development Bank (AfDB) met on Thursday, May 24 in Busan, Korea, for the second time during the 53rd Annual Meetings to review the state of the Bank’s operations and its prospects for the coming years. Introducing this session entitled “Governors' Dialogue,” the Bank President, Akinwumi Adesina, shared operational results and urged Governors not to hesitate to offer their views or suggest advice.
FAPA Donors and AFAP sign grant agreement in support of local supply and utilization of fertilizer in Africa
24-May-2018 - On the sidelines of the African Development Bank Annual Meetings in Busan, Korea, the Fund for African Private Sector Assistance (FAPA)(link is external) donors and the African Fertilizer and Agribusiness Partnership (AFAP) have signed a grant agreement in support of local supply and utilization of fertilizer by smallholder farmers in Africa.
African Ministers discuss innovative financing mechanisms to respond to climate change
24-May-2018 - Ministers of Finance, Agriculture and Governors of Central Banks from African countries have called for further innovative financing mechanisms to deal with the impact of climate change, which has led to economic losses from cycles, conflict, insecurity and cross-border political instability in the Sahel region.
Zimbabwe Water and Sanitation Project : Relief for Chitungwiza Residents
23-May-2018 - “For every drop of water you waste, you must know that somewhere on earth, someone is desperately looking for a drop of water!” Novelist and thinker Mehmet Murat Ildan’s warning could be referring to the likes of 39-year-old Mercy Chimusoro of Zengeza 3 Extension D, Chitungwiza and her family. Chimusoro and her family only experienced reliable water supply in the first two years after they moved to their new home in 2001. The next 14 years were marked by serious water shortages; Sometimes the taps remained completely dry for an entire month.
Accelerating Africa’s industrialization
23-May-2018 - Every year since 1964, the African Development Bank Group brings together development experts and Africa’s Central Bank Governors, Finance and Economic Planning Ministers to discuss the continent’s economic fortunes. Busan, Korea’s second-largest city and industrial hub, is host to the Bank’s 53rd Annual Meetings this week attended by finance and development experts, business leaders and Finance Ministers from Africa and beyond.
« Dans sa forme actuelle, l’université africaine est une usine à fabriquer des chômeurs »
22-May-2018 - « Nous devons rapidement sortir d’une université africaine qui forme des chômeurs pour aller vers des institutions universitaires d’où sortent de cadres avec des profils en adéquation avec les besoins de nos économies », a affirmé lundi à Busan, en Corée, le président de la Banque africaine de développement, Akinwumi Adesina. A la veille de l’ouverture, en Corée, des 53 è Assemblées annuelles de la Banque, M. Adesina a défini la qualité de la formation en Afrique comme un des préalables à l’accélération de l’industrialisation du continent.
“Put African interests first” say African natural resources experts
22-May-2018 - The African Natural Resources Centre of the African Development Bank recently convened an expert group meeting of gold and timber professionals from across the continent. Meeting at the Bank’s Abidjan headquarters last week, the expert group reviewed two draft reports commissioned by the Centre on the gold and timber value chains.
South Korea’s rapid development is an inspiration to Africa, says African Development Bank President
22-May-2018 - The rapid economic development in Korea is an inspiration and a model to African economies, said African Development Bank President, Akinwumi Adesina. He made the remarks while speaking at the welcome reception of the 53rd Annual Meetings of the African Development Bank(link is external), which opened Monday in Busan, Korea.
Private Sector Liaison Officers’ Network and DFIs share ideas on Climate Smart Agriculture
22-May-2018 - The Private Sector Liaison Officers’ Network (PSLO) organized a Climate Smart Agriculture mission in Abidjan, Cote d’Ivoire,13-17 May 2018. During the four-day program, prominent agriculture experts of various Development Finance Institutions and company representatives networked and shared ideas and experiences on agriculture sector strategies, priorities and portfolios of the African Development Bank, the World Bank and other agencies with a view to foster partnerships.
African Banker Awards crowns top performers in the continent’s banking and financial sector
21-May-2018 - Since 2012, the African Development Bank has been a partner of the African Banker Awards. The awards are organized by African Banker magazine, which specializes in the banking and financial sector in Africa. The annual award ceremony is held on the sidelines of the African Development Bank’s Annual Meetings. The annual ceremony takes place Tuesday evening at the Paradise Hotel in Busan.
Why Africa must trust and support its youth to creatively drive its industrialization
21-May-2018 - Many young Africans are coming up with innovative solutions to the continent’s problems and should be trusted and supported to drive continent’s industrialization, participants at the 2018 Annual Meetings of the African Development Bank heard in Busan. How to leverage the continent’s youth to accelerate economic prosperity through industrialization was the focus of a session on “Bridging innovation and industry: African youth solving continental challenges.”
“Africa must no longer be a museum of poverty,” declares African Development Bank President
21-May-2018 - By 2050 about 580 million young Africans will enter the labour market, Akinwumi Adesina, President of the African Development Bank (AfDB), observed Monday, noting that African people are tired of poverty. “Africa must stop being a museum of poverty. Its people are determined to reverse this trend. The future of young Africans is not in Europe, their destiny is not to end their lives in the Mediterranean Sea,” he stressed during a lively press conference on Day 1 of the Bank’s 53rd Annual Meetings, taking place from May 21 to 25 in Busan, Korea.New champion joins forces with African Leaders for Nutrition
21-May-2018 - The African Leaders for Nutrition (ALN) initiative aims to mobilize political action and leadership for nutrition in Africa by building a high-level forum that strengthens government policies and financial commitment to end malnutrition.
Innovative technologies need to reach African farmers for agricultural transformation to happen
21-May-2018 - For Africa to witness true agricultural transformation, technologies need to reach farmers to enhance productivity. This was part of the outcomes of the Leadership4Agriculture Forum held at the 53rd Annual Meetings of the African Development Bank taking place in Busan, Korea from May 21-25. Participants included Ministers and key partners involved in the development of agriculture industrialization infrastructure for the continent.
Bank Group organizes a workshop for sharing best practices in Somalia’s electricity industry
17-May-2018 - The African Development Bank and the Federal Government of Somalia concluded a two-day (26-27 April 2018) consultation and knowledge-sharing workshop on “Regulating the Somalia Energy Sector.”
Poverty on the decline in eastern Côte d’Ivoire
16-May-2018 - The African Development Bank is ramping up the pace of its work in the agriculture sector. Its new strategy to transform African agriculture, approved in May 2016, aims to eradicate extreme poverty, hunger and malnutrition in Africa and to transform the continent into a net exporter of food products.
ZimFund brings joy to Ruwa residents
14-May-2018 - “Sewer bursts had become a common feature, sometimes the sewage would find its way into the house, it was horrible,” says 54-year-old Ellen Chingodza, a Ruwa resident for the past 24 years. “We did not get water from our taps for more than 10 years here in Ruwa, and we had become prone to water borne diseases, especially cholera,” said 24-year-old expectant mother, Pauline Tamai. “I was receiving estimated water bills due to the faulty water meter,” chipped in another resident, Mutenda.
Africa Investment Forum endorsed as a game changer for financing Africa’s infrastructure development
08-May-2018 - By 2050, just 32 short years from now, Africa’s growing population will tip the scales at a whopping 2 billion, with a youth of 840 million. In the process, the continent will overtake the populations of China and India combined.