Perched more than 2,000 meters above sea level on the high plateaus bordering the Great Rift Valley, Addis Ababa, the capital of Ethiopia, is surrounded by majestic mountains. Deep within the folds of the land flow numerous streams that are tributaries of the Sheger River. The river rises in the hills along the northern edge of the city before flowing… Read More

Russia’s war in Ukraine is raising the cost of tackling climate change, inequality, and other big development goals. While focusing on economic development support for low- and middle-income countries, big global players in development finance such as the International Monetary Fund and the World Bank have so far not been able to tackle the climate crisis and social inequality with the agility… Read More

By Ciku Kimeria In 1960, the Ethiopian runner Abebe Bikila made history in Rome as the first athlete from sub-Saharan Africa to win an Olympic gold, even as he broke the marathon world record. All this was made more remarkable by the fact that he ran completely barefoot. Akinwumi Adesina, the president of the African Development Bank (AfDB), recounted this… Read More

The African Union Commission (AUC) and the African Development Bank have signed a grant agreement to implement Phase 1 of the Upstream Project for Digital Market Development in Africa. The signing ceremony took place on November 17 at AUC Headquarters in Addis Ababa, Ethiopia. The AUC Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Ambassador Albert M. Muchanga, and… Read More

Women entrepreneurs in Africa are expressing widespread optimism and continuing resilience despite the prevailing economic climate, according to the 2022 Lionesses Business Confidence Report and Index launched on Global Women’s Entrepreneurship Day. The report, prepared by Lionesses of Africa Public Benefit Corporation and New York University finds that ninety three percent of women entrepreneurs anticipate their companies will be better… Read More

The African Development Bank and the West African Monetary Union’s Capital Markets Authority (AMF-UMOA) have signed a grant agreement for $750,000 to implement the second phase of the Regional Financial Market Development Support Project (PADMAFIR 2). PADMAFIR 2 will enable the AMF-UMOA to develop a financial code for the region. It will also promote the deepening of mortgage and securitization… Read More

The European Bank for Reconstruction and Development (EBRD), the African Development Bank Group and the French development agency AFD, in partnership with the Egyptian government, have launched the Gender Equality in Climate Action Accelerator. The Accelerator will support private sector companies improve the gender responsiveness of their corporate climate governance. It will also help governments to promote gender-sensitive climate sector… Read More