Africa Investments 

African Development Bank calls roundtable to discuss mobilizing resources for regional integration and development in Africa

Heads of Africa’s leading regional and continental bodies on Thursday met to discuss how to fast-track the continent’s development plan, known as Agenda 2063. Covid-19 and rising fuel, food and fertilizer prices in the wake of the Russia-Ukraine war, have raised the stakes, and the urgency to speed up recovery. The roundtable was organized by the African Development Bank Group, on the sidelines of its 2022 Annual Meetings, currently under way in Accra, Ghana. It was attended by representatives of the African Union Commission, the African Continental Free Trade Area…

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Africa Investments 

2022 Annual Meetings: Ghana shares its rich culture through song and dance

On Thursday evening, Ghana shared its rich cultural legacy with participants at the African Development Bank Group’s 2022 Annual Meetings, which ended on Friday. The evening lived up to its promise, beginning with a poem read in the Ashanti language, praising the power of African solidarity. It was followed by traditional music from the region. Participants discovered the majestic dance of the Akan people of Ghana, as well as a variety of dance steps, performed by male and female dancers to the sounds of balafons, and drums played by women…

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Africa Investments 

African Legal Support Facility holds 2022 Annual Meetings

The Management Board and Governing Council of the African Legal Support Facility (ALSF) have expressed satisfaction with the strong 2021 performance of the ALSF. They also commended the team’s timely and sustained response to the impacts of the Covid-19 pandemic across the Facility’s areas of intervention. The Board and Council also passed resolutions regarding ALSF operations. This was the Facility’s 38th Management Board meeting and the Governing Council’s 14th meeting. Both took place on 23 May in the margins of the African Development Bank Group’s 2022 Annual Meetings in Accra,…

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Africa Investments 

Ethiopia shares ‘rare’ success story, sets its sights on becoming an African breadbasket

Ethiopia has set its sights on becoming a regional breadbasket, the country’s finance minister Semereta Sewasew said on Thursday. Sewasew was speaking on the sidelines of the African Development Bank Group’s Annual Meetings in Accra during a discussion on building climate resilience in the agriculture sector. The topic has gained renewed currency in light of the Russia-Ukraine war, which has deepened food shortages and led to soaring world food prices. Africa in particular is vulnerable, given that the two European nations are major suppliers of grains to the continent. Like…

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Africa Investments 

2022 Annual Meetings: A $20 smartphone could spark Africa’s mobile boom. Experts offer this and other digital solutions during panel discussion

The African Development Bank hosted a panel of experts drawn from industry, government and the investment community to lay out key actions for Africa to deliver a transformational digital future for its people. A side event to the Bank’s  Annual Meetings in Accra, Ghana, the session featured a discussion on building resilient digital economies in Africa. It addressed the need for resilient broadband networks as well as innovation and entrepreneurship to develop a thriving digital eco-system. Ralph Mupita, Group CEO of MTN, Africa’s largest telecommunications operator, outlined the rapid advances…

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Africa Investments 

African Development Bank Group concludes Annual Meetings Close: Governors endorse the bank’s vision for the next 10 years

The African Development Bank Group has concluded five days of annual meetings in Accra, Ghana on Friday with a rallying cry from its President Dr Akinwumi Adesina, to be proud of Africa’s progress. He told delegates at a spectacular closing ceremony at the end of the Bank Group’s Annual Meetings that they were all what he called “partners in hope who shared a passion for the continent and who should celebrate Africa’s successes.” Ghanaian Vice President Mahamudu Bawumia represented President Nana Akufo-Addo at the closing ceremony. With him were Finance Minister…

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Africa Investments 

African Development Bank reports strong financial health, despite Covid-19 crisis

The African Development Bank Group is progressing with financial reforms that have helped it become stronger, more resilient, and better equipped in the wake of the Covid-19 crisis, the institution’s Senior Vice President Bajabulile Swazi Tshabalala said on Thursday. Addressing the Bank Group’s shareholders, Executive Directors, and partner agencies at the organization’s 2022 Annual Meetings in Accra, Tshabalala said the institution strengthened its long-term financial sustainability framework over the last three years, ensuring that it built more resilience against future shocks. “We updated our financial and risk policy; we undertook…

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Africa Investments 

Africa Day: Young African entrepreneurs propose sustainable solutions for the future of the continent

Young African entrepreneurs on Wednesday expressed their doubts about the future. But, above all, they shared their hopes for our continent’s development. They came to celebrate Africa Day, held on the side-lines of the African Development Bank Group’s Annual Meetings (23-27 May) in Accra. The young people presented their activities in various sectors (information technology, fashion and textiles, sports management) to the assembled leaders, and proposed their vision of the future. “We need training centres on artificial intelligence, we want to produce medicines, we want to have the best training…

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Africa Investments 

African Development Bank Group launches dedicated trust fund for circular economy

The African Development Bank Group today launched its first Africa Circular Economy Facility during its 2022 Annual Meetings. The circular economy is a model of production and consumption that involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. The Bank Group’s Board of Directors approved the facility on 30 March. As a trust fund, it will channel finance and de-risk innovative circular economy business models beyond waste management. It will  support the country-led African Circular Economy Alliance (ACEA) in integrating the circular economy…

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Africa Investments 

Ethiopia: African Development Bank signs $830,000 grant agreement to improve climate resilience for communities and ecosystems

The African Development Bank has signed an $830,000 technical assistance grant agreement for Ethiopia. The funds will help mainstream climate risk management, gender and resilience into economic planning and development in the country’s Ziway-Shallah sub-Basin. The signing took place on Thursday 26 May during the African Development Bank Group’s 2022 Annual Meetings, which are taking place in Accra. Semereta Sewasew, State Minister, Ministry of Finance, signed on behalf of the Ethiopian government.  Kevin Kariuki, African Development Bank Vice President for Power, Energy, Climate & Green Growth, signed for the Bank.…

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