NEPAD-IPPF strengthens capacity to improve stock of well-prepared bankable infrastructure projects

The NEPAD Infrastructure Project Preparation Facility, NEPAD-IPPF, has concluded a two-day workshop that brought together over 20 staff members, representatives from the African Development Bank’s Departments of Transport, ICT, Energy, Environment and Climate Change, Resources Mobilisation and External Finance. 

Integrity in Development Projects: African Development Bank Debars Centre Africain de Recherches Forestières Appliquées et de Développement and Mr. Benjamin TCHOFFO for 36 Months

The African Development Bank Group on September 10, 2018, announced the debarment of the Centre Africain de Recherches Forestières Appliquées et de Développement (CARFAD), a consulting company based in Yaoundé, Cameroon, and its Executive Director,  Benjamin Tchoffo for a minimum period of 36 months.

An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that CARFAD and Mr. TCHOFFO engaged in an obstructive practice by materially impeding the exercise of the Bank’s inspection and audit rights.

African Development Bank approves US$ 15 million Equity Investment to boost SME growth in West Africa

The Board of Directors of the African Development Bank has approved a US$ 15 million equity investment  in Verod Capital Growth Fund III, a private equity fund that will make investments in high growth middle market companies in Anglophone West Africa including Nigeria, Ghana, Liberia, Sierra Leone and the Gambia. The Fund’s investments will be in companies in consumer driven sectors including light industrials, fast moving consumer goods, education, financial services and agro processing. The ticket size for each investment will be between US$ 5 million and US$ 20 million.

The African Development Bank Group and JETRO to sign an MOU for increased collaboration in infrastructure and private sector development

The African Development Bank Group (comprised of the African Development Bank and the African Development Fund; AfDB/ADF) and the Japan External Trade Organization (JETRO) will sign a Memorandum of Understanding (MOU) on August 26, 2016 at the Sixth Tokyo International Conference on African Development (TICAD VI) in Nairobi, Kenya.