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African Development Bank, Credit Suisse, Industrial and Commercial Bank of China and Ghana Cocoa Board ink $600 million loan agreement to boost cocoa production12-Nov-2019 - Agreement is a turning point for scaling up the cocoa value chain – President Nana Addo Dankwa Akufo-Addo of Ghana Ghana is bankable, cocoa is bankable and of course Africa is bankable - Dr. Akinwumi A. Adesina, President, African Development Bank The African Development Bank, Credit Suisse AG, the Industrial and Commercial Bank of China Limited and Ghana Cocoa Board (COCOBOD) signed a $600 million syndicated receivables-backed term loan on Tuesday, to boost cocoa productivity in Ghana - the world’s second-largest cocoa producer.
12-Nov-2019 - Family businesses are rarely viewed as a sector which could influence economic growth, but the Africa Investment Forum is recognising them as important players on the continent. For the first time at a conference of this nature, families running business empires have been given a platform to share their views on how Africa’s unexplored wealth can benefit all who live here.
AIF 2019 : « forger un récit proprement africain sur l’Afrique pour changer le regard des investisseurs sur le continent », selon un panel d’économistes12-Nov-2019 - En marge de la 2ème édition de l’Africa Investment Forum (AIF) qui se tient du 11 au 13 novembre à Johannesburg, des économistes ont invité les Africains à se réapproprier le récit de leur propre histoire s’ils veulent améliorer le regard des investisseurs sur leur continent.
12-Nov-2019 - Greater donor mobilization is needed to support the project preparation process that is so strategic for investment on the continent." These are the words of Patricia de Lille, South Africa’s Minister of Public Works and Infrastructure. She was part of the "Building early stage pipeline" panel discussion held at the Africa Investment Forum 2019 in Johannesburg, the economic capital of South Africa.
2019 Africa Investment Forum: historic signing of high-speed railway construction concession agreement for Ghana, with the support of the African Development Bank12-Nov-2019 - The African Development Bank has thrown its weight behind a concession agreement for the construction of a high-speed railway in Accra, Ghana’s capital. The signing took place on the opening day of the second Africa Investment Forum, running from Monday to Wednesday in Johannesburg. “It’s a great day for Ghana!” said Ghanaian President Nana Akufo-Addo. “I was here last year and I’m back this year to make sure the project moves forward. This proves how important the Africa Investment Forum is. The signing of this agreement is on track to...
2019 Africa Investment Forum kicks off delivering on the promise to redefine and unpack the continent’s investment opportunities11-Nov-2019 - The 2019 Africa Investment Forum opened on Monday living up to its promise to move from commitment to action. A $500 million equity deal presented by the Africa Infrastructure Investment Fund last year, to speed up investments in agriculture, and a $175 million equity transaction from the Africa Guarantee Fund for investors to support Small and Medium Size Enterprises, are among the transactions that found financial close over the past year.
African Development Bank to launch 2019 Electricity Regulatory Index and first Tariff Report at Africa Investment Forum11-Nov-2019 - What: Launch of 2019 Electricity Regulatory Index and first Tariff Report When: Wednesday, 13 November 2019, 9:00 am – 10:30 am Where: Sandton Convention Center, Johannesburg, South Africa (Session Room 1) Who: Wale Shonibare, Acting Vice President, Power, Energy, Climate & Green Growth Complex, African Development Bank ; Richard Nelson, Deputy Coordinator, Power Africa ; Professor Perez-Arriaga Jose Ignacio, Florence School of Regulation.
Africa Investment Forum: “Short on talk, heavy on deals”, African Development Bank, South African government and partners affirm10-Nov-2019 - The Africa Investment Forum will be short on talk and heavy on deals, the South African Government, the African Development Bank and key partners affirmed at a press conference ahead of the 2019 edition of the event. Organized by the African Development Bank and its partners, the second edition of the Forum, will take place from place from 11 to13 November 2019 in Johannesburg, South Africa. The multi-stakeholder transactional marketplace is aimed at raising capital, advancing projects to bankable stage and accelerating financial closure of...
“News with a human face” in focus at African Development Bank and Thomson Reuters Foundation workshop for African journalists10-Nov-2019 - “The training opened my eyes to see Africa as it is, and not as it is portrayed in the media,” said Thando Magudulela, a journalist with the South African Broadcasting Corporation, at the opening of the second edition of a reporting workshop hosted by the African Development Bank in South Africa. Following the successful first edition in Abidjan last June, the African Development Bank and the Thomson Reuters Foundation organised the next phase of its collaboration from 6-8 November 2019, in Pretoria.
Why the Africa Investment Forum matters for the continent’s energy transformation: - Wale Shonibare, Acting Vice-President, Power, Energy, Climate Change & Green Growth, African Development Bank09-Nov-2019 - The African Development Bank’s New Deal on Energy for Africa underlines the urgency to power the continent in order to end energy poverty, catalyze industrialization, and stimulate socio-economic growth. The strategy is grounded in the recognition that access to reliable, affordable and sustainable energy is central to Africa’s development, and lifting populations out of poverty.
Free-to-air Broadcast live television feeds from the 2019 Africa Investment Forum, South Africa 11-13 Nov, 201909-Nov-2019 - Who: The African Development Bank in collaboration with Gauteng Province and the South African Government What: Africa Investment Forum Where: Sandton Convention Centre, Johannesburg, South Africa When: 11-13 November, 2019
05-Nov-2019 - In the past decade, a stroll along the aisles of any African supermarket is revealing: there is a new wave of home-brewed brands that are fast becoming household names. Products like Dangote rice from Nigeria, Akabanga pepper oil from Rwanda and Tomoca coffee from Ethiopia attest to the gradual but persistent evolution towards greater agro-processing and value addition in the domestic agriculture sector.
Zimbabwe: African Development Bank and World Food Programme seek closer collaboration to improve livelihoods04-Nov-2019 - African Development Bank and World Food Programme (WFP) teams in Zimbabwe held a two-day workshop on 28 and 29 October 2019 to explore ways of consolidating efforts in aid of the country’s socio-economic development.
African Development Bank President Akinwumi Adesina Receives Honorary Doctorate from Bowen University04-Nov-2019 - The President of the African Development Bank, Akinwumi Adesina, has been awarded an Honoris Causa from Bowen University in Nigeria. The award, which was presented at the 14th graduation ceremony of the University held on November 2, 2019, was in recognition of Adesina’s “immense contribution to promoting entrepreneurship on the African continent.” For almost a decade, African youth have continued to benefit from Adesina’s passion for innovation in agriculture as well as other market drivers.
01-Nov-2019 - The African Development Bank on Thursday celebrated a historic $115 billion increase from its shareholders, the largest in the bank's 55-year history. Applause rang through the stately auditorium of the Sofitel Abidjan, Hotel Ivoire, around 5.30 in the evening after the decision was announced.
30-Oct-2019 - La Banque africaine de développement et le gouvernement du Tchad ont célébré, vendredi 25 octobre à N’Djamena, la restitution des travaux de rénovation du lycée féminin bilingue d’Amriguébé.
30-Oct-2019 - The Nigeria country office of the African Development Bank on 28 October 2019 launched the Bank’s ‘Creating Decent Jobs: Strategies, policies and instruments’ report in Nigeria. The report, first launched last month in Abidjan, cites growth in the African labour force as the fastest globally. However, successive years of robust macroeconomic policies, which have aided the remarkable economic growth rates for nearly two decades, have not created the jobs required to absorb the increasingly growing labour market entrants or led to sufficient...
29-Oct-2019 - NOUS vivons dans cette ère de la complexité où les évidences elles-mêmes, ont besoin de démonstration pour être acceptées. Certains points de vue, portés par des préjugés tenaces et une vision monolithique, ont cette fâcheuse tendance à présenter l’Afrique comme un même pays, ayant une même culture. Au-delà de la vision simplificatrice et idyllique, nous voudrions ne retenir de ces points de vue, que le rêve qu’ils permettent de nourrir : celui de voir tous les pays du continent parfaitement intégrés dans une seule et même entité mais riche de...
24-Oct-2019 - Economic reforms, a burgeoning middle class and regional diversity against the background of the new African Continental Free Trade Area - are making Africa’s Portuguese-speaking countries a hotspot for investor interest. Additionally, new tools – such as the Development Finance Compact for Lusophone Africa – give investors and lenders more comfort to enter into these markets.
23-Oct-2019 - Streaming across the new bridge linking the Gambia and Senegal earlier this year, cars, trucks and pedestrians celebrated a new era of integration between the two West African countries. For the first time in over half a century, traders and everyday commuters could travel from one half of the Gambia to the other in a matter of hours, instead of an entire day, or even longer.
Mali : la Banque africaine de développement consulte la société civile sur le Document de stratégie pays22-Oct-2019 - Le Bureau national du Mali de la Banque africaine de développement, avec l’appui de sa Division société civile et engagement communautaire (AHGC2), a organisé sa première consultation de la société civile, le jeudi 17 octobre 2019. Tenue dans le cadre de l’exercice d’élaboration du Document de stratégie pays (DSP) du Mali pour la période 2020-2024, la rencontre, s’est déroulée au siège du Conseil national de la société civile du Mali (CNSC).
19-Oct-2019 - Rapid urbanization has provided most cities in the world with opportunities to provide more sustainable, vibrant, and prosperous centers for their citizens. But they must first address challenges such as inadequate infrastructure investments, pollution and congestion, and poor urban planning, according to a new report released today.
Prepare for the agriculture of tomorrow, African Development Bank President challenges high school students at global symposium17-Oct-2019 - Young people from around the world gathered in Des Moines Iowa at the Global Youth Institute on Thursday to interact with Nobel and World Food Prize laureates. This year, 450 exceptional high school students from 10 countries attended the three-day Global Youth Institute hosted by the World Food Prize Foundation to facilitate discussion on pressing food security and agricultural issues.
11-Oct-2019 - 'I am delighted and proud that Prime Minister Abiy Ahmed has been awarded the Nobel Peace Prize. He deserves it for his boldness and resolve to break with the past and build bridges that foster lasting peace. His remarkable leadership will help to bring security and prosperity to the entire Horn of Africa. The African Development Bank congratulates Prime Minister Ahmed and will wholeheartedly support initiatives to help the region achieve its objectives.”
09-Oct-2019 - The African Development Bank organized a knowledge sharing event of chief information officers (CIOs) from international financial institutions (IFIs) in Cape Town, 23-26 September.
09-Oct-2019 - “The Africa Investment Forum, with its high-level, well-focused audience, ranks among the best. Its strength is that it is very transaction-oriented. The Forum not only brings together investors and stakeholders to initiate deals, but can help close transactions that would otherwise take months or years,” says Ebobissé.
Climate Action Summit: Three questions to Dr Anthony Nyong, director climate change and green growth department07-Oct-2019 - Leaders from all over the world met in New York recently to discuss efforts to tackle climate change. The President of the African Development Bank Group, Dr. Akinwumi Adesina, attended the Climate Action Summit and pledged to double funding commitments to $25 billion from 2020 to 2025 to help African countries address the challenges of climate change. Most of this funding will go towards adaptation. Dr Anthony Nyong, Director of the Bank’s Climate Change and Green Growth Department, answers three questions on the topic, as the summit wraps up.
25-Sep-2019 - Niger's President Mahamadou Issoufou called on Sunday for a "global response" to the problems of land degradation that threaten the arid Sahel belt. Addressing a meeting of the Climate Commission for the Sahel Region at the United Nations, Mahamadou said the region's 250 million people are struggling with drought, desertification and other impacts of climate change. "The situation in the Sahel has global stakes, and it requires a global response," said Issoufou.
25-Sep-2019 - African Development Bank President Akinwumi Adesina on Tuesday pledged to boost funding commitments by $12.5bn to help countries adapt to the effects of climate change between 2020 and 2025. Addressing UN talks on climate change adaptation, Adesina said the Bank was doubling commitments to climate finance to $25bn for the five-year period, half of which would fund climate adaptation.
UNGA 2019: Women are “Africa’s tigers” says Congolese First Lady as African Development Bank touts $3bn fund25-Sep-2019 - African women are on the cusp of securing gender equality. “We are convinced that the moment for African women has now come,” said Antoinette Sassou Nguesso, the First Lady of the Republic of Congo. Nguesso made the remarks on Tuesday at a meeting of the Organization of African First Ladies for Development (OAFLAD) on the sidelines of the UN General Assembly. “The tiger doesn’t claim its tigerhood, and it has to act like a tiger,” Nguesso, president of OAFLAD, said in French via an interpreter.
23-Sep-2019 - In recent years, “stranded assets” have attracted a lot of interest, as climate-driven changes to our physical environment amplify the calls for a seamless transition to low-carbon pathways. More than 185 countries have agreed to leave two-thirds of proven fossil fuels in the ground, in order to meet the Paris Agreement climate target of keeping global warming below 2 degrees Celsius.
20-Sep-2019 - The Board of the African Development Bank approved a proposal for $17.7 million on 5 September, 2019 to finance the first social sector project in South Sudan since the Bank’s engagement in the country in 2012. The project will increase access to improved basic education for children in the Upper Nile, Unity, Jonglei and Eastern Equatoria states and regions.
18-Sep-2019 - The Angola country office of the African Development Bank on 10 September 2019 marked the Group’s 55th anniversary with a cocktail reception in Luanda, during which dignitaries toasted the Bank’s fruitful partnership and transformative work in Angola and Africa. The dignitaries included senior government officials, diplomats, development partners and representatives of financial institutions and project coordinators.
G5 Sahel Heads of State throw their weight behind African Development Bank's Desert to Power initiative16-Sep-2019 - G5 Sahel heads of state at a Summit on Friday in Ouagadougou, Burkina Faso, gave strong support to Desert to Power, an Africa Development Bank-led initiative. The summit, "Harnessing solar energy for the socio-economic development of the G5 Sahel countries" came on the heels of a high-level technical meeting attended by the region’s energy ministers, and development partners including the World Bank, Agence Française de Développement, Masen (Moroccan Solar Energy Agency), and regional institutions such as the West African Economic and Monetary...
13-Sep-2019 - Senior officials from the world’s leading financial institutions have wrapped up their 20th annual meeting in Abidjan at the headquarters of the African Development Bank. The corporate secretaries of international financial institutions (IFIs) met from 11 to 13 September 2019. The gathering coincides with a renewed push for Africa’s development agenda. The host institution, the African Development Bank, is in the process of lobbying for a general capital increase from shareholders to accelerate growth in the continent.
12-Sep-2019 - Principaux outils de transformation économique en Afrique, les cinq grandes priorités stratégiques, « High 5 », lancées en 2016 par la Banque africaine de développement, ont déjà produit des résultats significatifs cette année. L’initiative « Desert to power », présentée officiellement ce vendredi 13 septembre à Ouagadougou, au Burkina Faso, marquera une étape majeure.
5 takeaways from the 2018 Africa Investment Forum: A bold vision to tilt capital flows towards Africa’s critical sectors11-Sep-2019 - “We want investments in Africa to land on a smooth investment runway. No bumps,” – Akinwumi A. Adesina, President, African Development Bank, at the 2018 Africa Investment Forum. When Adesina laid out his vision to “tilt the flow” of capital towards Africa’s critical sectors through the Africa Investment Forum, the notion of convening a purely transaction-based forum, seemed more of an aspiration than a reality.
Pretoria, South Africa: Bank raises awareness of rules on integrity and anti-corruption in two-day session09-Sep-2019 - The African Development Bank’s Office of Integrity and Anti-corruption (PIAC) held a two-day session on 12-13 August 2019 with staff, consultants and contractors to raise awareness on the Bank’s rules and regulations regarding integrity and anti-corruption. The first day brought together staff and consultants based in the Southern Africa regional office in Pretoria and country offices, while the second day was designed for consultants and contractors working with the Bank.
09-Sep-2019 - The African Development Bank country office in Zambia and the UN Nutrition Network have agreed to lead multi-agency commitments aimed at effective implementation of the country’s national food and nutrition agenda. The two agencies reached the agreement on 5 September 2019 when Bank country manager for Zambia, Mary Monyau, hosted the global coordinator and director of the UN Nutrition Network, Purnima Kashyap. Both recognized the role of good nutrition as the basis for sustainable human development.
06-Sep-2019 - On 30 August 2019, the African Development Bank country office in Monrovia, Liberia held a civil society open day, which provided information on the progress of the Bank’s work, updates on current portfolio achievements and a presentation of the upcoming pipeline with regard to the next Liberia country strategy paper 2019 – 2023. The event brought together 56 Liberian civil society leaders, senior government officials from the ministries of finance and development planning, public works and agriculture.
Zimbabwe: African Development Bank, partners launch $96.7 million post-cyclone Idai recovery projects05-Sep-2019 - The African Development Bank, with the World Bank and the government of Zimbabwe on 2 September 2019 launched post cyclone Idai recovery projects totaling $96.7 million to restore livelihoods and rehabilitate infrastructure in areas most hit by the disaster this year.
TICAD7: Invest in Africa’s food markets to win the war on hunger and boost nutrition – African Development Bank30-Aug-2019 - Yokohama, Japan 30 August 2019 – By investing in Africa’s food markets, governments can win the fight against stunting and improve nutrition across the continent. And with support from institutions like the African Development Bank, the results would be a win-win situation for all.
30-Aug-2019 - The African Development Bank is to part-finance the construction of a 563 km power transmission line in Mozambique, after signing the agreement on 28 August to start the Temane transmission project, approved by the Board in July. The Bank will contribute $33 million in grants to the project.
30-Aug-2019 - Yokohama, Japan, 30 August 2019 - The African Development Bank delegation’s packed sessions kicked off on Thursday with President Adesina addressing Plenary Session 3 on Public-Private Business Dialogue: Enhance Trade and Investment between Japan and Africa.
Japan and African Development Bank announce $3.5 billion in support of Africa’s private sector development30-Aug-2019 - Electricity, transport, and health identified as key priorities Yokohama, Japan, 30 August 2019 - Japan and the African Development Bank on Friday announced a joint target of $3.5 billion under the Enhanced Private Sector Assistance for Africa initiative (EPSA4), during the 7th Tokyo International Conference on African Development (TICAD 7). Both Japan and the Bank have set a target of $1.75 billion each, from 2020-2022, to enhance the fourth phase of EPSA to spur private-sector-led sustainable and inclusive growth in Africa.
29-Aug-2019 - “There’s risk, yes, but there are juicy returns, now is the time for all of us to run in that direction.” - Jennifer Blanke Prioritizing the digital space will help shift the development focus for Africa’s agribusiness sector and overcome its many hurdles, participants at an official side event, organized Wednesday during the 7th Tokyo International Conference, heard.
African Development Bank Group signs $28.8 million grant deal with Somalia for road and water projects29-Aug-2019 - Mogadishu, Somalia, 29 August 2019 – The African Development Bank Group on 27 August 2019 signed two grants for $28.8 million for road and water supply projects to improve livelihoods in Somalia and boost resilience. The grants, approved by the Bank’s Board on 19 July 2019, confirm sustained efforts, especially by the African Development Fund, to tackle fragility in the Horn of Africa. They comprise $11.99 million for the Kismayo Baidoa urban water project and $16.86 million to partly finance a $66.7 million road.
29-Aug-2019 - Abidjan, Côte d’Ivoire, August 29 - African Development Bank Group President Akinwumi Adesina arrives in the Kingdom of Eswatini on Saturday for an official visit, which will include a trip to one of the major Bank-funded projects in the country. Adesina will meet with Eswatini Minister of Finance Neal Rijkenberg.