Industrialization

21-May-2019

African Development Bank commissions value chain study into jewelry manufacturing and jobs for women and youth in Sierra Leone, Zimbabwe and the Republic of Guinea

The African Development Bank has commissioned a study into the contribution of the jewelry manufacturing industry and its potential for job creation for women and youth in Sierra Leone, Zimbabwe and the Republic of Guinea. The initial US $1.4-million project, will entail a value chain analysis study examining the sector’s contributions to value addition and job creation. It will be financed under the Bank’s Transition Support Facility and implemented over 24 months, in coordination with the relevant ministries and agencies in all three countries. The proposed project aims to create...
25-Apr-2019

Botswana: African Development extends US$80m line of credit to help industrialization and regional integration

The Board of Directors of the African Development Bank Group (AfDB) has approved a USD 80 million line of credit to the Botswana Development Corporation Ltd (“BDC”) to help the country’s industrialization and regional integration. The line of credit will be provided via the African Development Bank’s private sector window and will be used to finance local companies in the Botswana's manufacturing, transport, logistics and services sectors. In total, the projects are expected to create between 2500 and 2800 jobs, including 1200 to 1300 for women, in particular in these sectors. Botswana’...
27-Mar-2019

La Banque africaine de développement mobilise 268 millions d’euros pour soutenir la dynamique d’accélération industrielle au Maroc

Le Conseil d’administration de la Banque africaine de développement a approuvé un financement de 268 millions d’euros pour mettre en œuvre la seconde phase du Programme d’appui à l’accélération de l’industrialisation au Maroc (PAAIM II). Ce programme a pour objectif de favoriser l’accélération industrielle du Royaume à travers le déploiement d’écosystèmes industriels, l’amélioration de la compétitivité des opérateurs du secteur et le financement d’activités économiques industrielles de premier ordre. Le PAAIM II est un soutien aux réformes par sa complémentarité avec les autres domaines...
21-Feb-2019

African Union: Fashionomics Africa supports launch of Pan-African Fashion initiative

The Fashionomics Africa initiative of the African Development Bank, together with the African Union, the AfroChampions initiative, and other institutional partners and private operators, launched the Pan-African Fashion initiative on 9 February during the recent AU meetings in Addis Ababa. Pan-African Fashion initiative is a platform for stakeholder engagement, dialogue, strategy and policies to advance the African fashion industry within the context of the African Continental Free Trade Area (AfCFTA), which aims to remove trade barriers between African nations and thus expand intra-Africa...
10-Feb-2019

“Corruption does not invest in the future, it kills the future.” – Akinwumi Adesina, at World Peace Summit of Global leaders

“We are working hard with governments to improve transparency, governance, accountability and project delivery across the continent. Corruption does not invest in the future, it kills the future,” Akinwumi Adesina, President of the African Development Bank said at the World Peace Summit of Global Leaders. According to the World Economic Forum, an estimated $116 billion a year would be required to feed the world and end hunger. It would also take $8.5 billion a year to eliminate malaria. “That's only 0.28% of what's lost to corruption globally every year,” said Adesina. “It...
09-Nov-2018

Africa Investment Forum delegates underscore pathways to Africa’s rapid industrialisation

The industrialise Africa session at the Africa Investment Forum ran late into the evening on Thursday, with delegates focussing on how to drive investment, expand trade and industry and create African industrial champions. Among the panellists were  Ibrahim Mayaki, CEO of the New Partnership for Africa's Development (NEPAD); Emma Wade-Smith, British Trade Commissioner for Africa, and Geoffrey Qhena, CEO of South Africa’s Industrial Development Corporation (IDC). Wade-Smith says that the UK wants to become the leading investment and trading partner with Africa among the Group of...
24-Sep-2018

African Development Bank Launches first Africa-to-Africa (A2A) Investment Report

Opportunities for investment in Africa often outweigh the obstacles, according to leading African companies included in the African Development Bank’s first Africa-to-Africa (A2A) Investment Report. The report unearths the realities African companies face when investing in the continent, the emerging trends in A2A investment and the steps African policymakers can take to accelerate intra-African investment. Africa-to-Africa Investment Report: A first look, finds that more African companies are investing in Africa. These companies have confidence in the continent’s long-term growth...
22-May-2018

South Korea’s rapid development is an inspiration to Africa, says African Development Bank President

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. “African countries should learn from Korea’s rapid economic growth most especially in the areas of industrialization and manufacturing. I thank the Korean Government for supporting Africa’s development,” said Adesina. He noted that Africa’s relationship with...
17-May-2018

Nigeria: African Development Bank approves US$100 million for expansion of fertilizer production

The African Development Bank has approved US$100 million senior loan to Nigerian firm, Indorama Eleme Fertilizer & Chemicals Limited, to support the company’s plans to double its fertilizer production from 1.4 million tons of urea to 2.8 million tons per annum. The Bank’s intervention follows a previous loan extended to Indorama Fertilizer in 2013 for the commissioning of another urea fertilizer plant with a production capacity of 1.4 million tons per annum. The completion and exploitation of that plant in 2016 helped turn Nigeria from a net fertilizer importer to a self-sufficient...
14-May-2018

2018 Annual Meetings focus on accelerating Africa’s industrialization

Final preparations are underway for the 2018 Annual Meetings of the African Development Bank Group on May 21-25, 2018, in Busan, Korea, addressing “Accelerating Africa’s Industrialization.” On May 22 and 24, in tandem with the Annual Meetings, the 2018 Korea-Africa Economic Cooperation (KOAFEC) Conference will address, “Africa and the 4th Industrial Revolution: Opportunities for leapfrogging?” Industrialize Africa is one of the Bank’s High 5 priorities to speed up the continent’s development. As Bank President, Akinwumi Adesina states, “The secret of the...
09-May-2018

“Africa Business Day” equips Southern African companies seeking to expand beyond regional markets

The African Development Bank, Johannesburg Stock Exchange (JSE) and the Industrial Development Corporation of South Africa (IDC) jointly organized the first “Africa Business Day” on enabling Southern African busineses to expand into Sub-Saharan Africa. Titled “Business Strategy for expansion into Sub-Saharan Africa – Challenges and opportunities for Southern African companies”, the day-long event focused on assisting medium- and large-scale Southern African companies to expand beyond their domestic markets. “The Bank considers this Forum an important milestone in our efforts to...
16-Apr-2018

The African Development Bank supports Nigeria’s healthcare sector

Lagos State, Nigeria’s largest healthcare market, lacks an adequate supply of quality secondary and tertiary healthcare facilities with only about 700 to 1,000 quality beds for a population of over 21 million people. It is in response to this latent situation, that the Board of Directors of the African Development Bank has approved a Senior Loan in Naira (equivalent to USD 20 million) to Santa Clara Medical Limited, to finance the development of a hospital and referral clinics in Lagos, Nigeria. By supporting investment in healthcare infrastructure, the Bank will help the Nigerian...
19-Mar-2018

Rwanda Innovation Fund project to receive US $30-million loan from African Development Bank

The Board of the African Development Bank Group has approved a loan of US $30 million to support the establishment of Rwanda Innovation Fund (RIF). The main objective of the project is to promote innovation economy in Rwanda and the East African Community (EAC) region. The resource will be used to establish an investment vehicle focused on funding Tech-Enabled Small and Medium-Sized Enterprises (SMEs) and to develop the country’s entrepreneurial/innovation ecosystem capacity. The project is of strategic national importance to Rwanda as the country seeks to unlock its fast-growing...
14-Jul-2017

Maroc : 200 millions de dollars de la BAD pour la 1e phase du Programme d’appui à l’accélération de l’industrialisation (PAAIM I)

Le Conseil d'administration du Groupe la Banque africaine de développement (BAD) a approuvé, ce vendredi 14 juillet 2017, un prêt de 200 millions de dollars EU, destiné à financer la première phase du Programme d’appui à l’accélération de l’industrialisation au Maroc (PAAIM I). Ce programme a pour objectif principal d’accélérer l’industrialisation du Maroc et de consolider les bases d’une croissance durable et partagée. Améliorer l’environnement des...
08-Feb-2017

AfDB approves US$200 million to IDC to support industrialisation projects in Africa

The Board of Directors of the African Development Bank Group (AfDB) has approved a private sector multi-currency line of credit of US$ 100 million and 1.3 billion South African Rands to Industrial Development Corporation Plc (IDC) of South Africa. The operation will support industrialization projects in both South Africa and other Regional Member Countries (RMCs). IDC is South Africa’s pre-eminent development finance institution (DFI), owned by the South African government. Its mandate is to promote industrialization in Africa by investing in, and developing the industrial base of South...
27-Aug-2016

AfDB President emphasises industrialising Africa plan to spur bond markets

African Development Bank (AfDB) President Akinwumi Adesina unveiled the elements of an African industrialisation strategy at an international meeting of African Heads of State and Government and their Japanese counterparts, and called for the linking of stock markets to enlarge Africa's domestic markets. "AfDB's Industrialisation Strategy for Africa, developed jointly with the African Union, the UN Economic Commission for Africa (ECA) and the UN Industrial Development Organization (UNIDO) targets rapid industrialisation by doubling Africa's Gross Domestic Product within 10 years," Adesina...
25-Jul-2016

Board approves AfDB Group’s Industrialisation Strategy for Africa 2016-2025 - A road map for scaling up Africa’s economic transformation

Africa’s industrialization agenda, one of the Bank Group’s top priorities for the continent’s economic transformation, received a boost this week with the approval of the Bank Group’s Industrialisation Strategy for Africa 2016-2025. The Strategy, approved by the AfDB’s Board on Thursday, 14 July 2016, represents a roadmap for implementing priority programs to scale–up the industrial transformation of Africa. It addresses key issues such as: (i) Why we need to industrialize Africa; (ii) What it will take to industrialize Africa; and (iii) How AfDB will help to industrialize Africa;...
19-May-2014

Africa needs to industrialise as franchises for made in Africa value chains beckon: AEO 2014

Africa’s social and economic conditions are progressing steadily, according to the 13th edition of Africa Economic Outlook (AEO) themed, “Global Value Chains and Africa’s Industrialisation.” The continent has been quite resilient to regional and global headwinds that constrain economic growth, it says, and suggests how Africa can make the most of global dynamic forces to promote inclusive growth and create jobs. Underscoring the “Africa Rising” narrative, the AEO 2014, published by the African Development Bank, the OECD Development Centre and the United...