Africa Investments 

African Development Bank, UN Environment Programme, partner to drive implementation of Kunming-Montreal Global Biodiversity Framework in Africa

The African Development Bank is joining forces with the United Nations Environment Programme to advance implementation of the Kunming-Montreal Global Biodiversity Framework in Africa (KMGBF). The framework sets out an ambitious pathway to reach the global vision of a world living in harmony with nature by 2050. The African Development Bank and UNEP will partner to establish an Expert Group… Read More
Africa Investments 

African Development Bank achieves global first: Issues highest rated hybrid capital by a multilateral development bank

The African Development Bank Group has received global recognition for its inaugural hybrid capital issuance, positioning the Bank as a pioneer in innovative sustainable financing. The S&P Global Ratings assigned an AA-rating to the debut transaction, the highest rating for hybrid capital. The proposed issuance would be the first ever by a multilateral development bank. Hybrid capital will have a… Read More
Africa 

Niger coup leader calls for ‘calm, vigilance and patriotism’ in new address to nation

The leader of the mutinous soldiers who detained the democratically elected president in Niger addressed the nation on Friday, two days after the military takeover. General Abdourahmane Tchiani, who goes by Omar, said the country needed to change course to secure its preservation and he and others had decided to intervene to overcome “security, economic and social challenges”. “The action… Read More
Africa 

Ethiopia Airlines’ CEO discusses post-pandemic competitiveness in a changing industry

Against a backdrop of steep inflation, post-pandemic competitiveness and a changing airline industry, Ethiopian Airlines is pursuing its “Vision 2035” growth strategy. Ethiopia Airlines is Africa’s leading airline in terms of fleet and passengers – far ahead of EgyptAir and Kenya Airways. It was one of the few worldwide to have remained afloat during the COVID-19 pandemic without public bailouts or… Read More
Africa 

Putin promises grain exports to Africa despite sanctions

Russian President Vladimir Putin has said his country will continue to export grain, including some free shipments, to Africa despite sanctions. While discussing the halted Black Sea grain deal at the Russia-Africa Summit in St Petersburg, he promised large no-cost shipments of grain to six African countries. “Our country will continue to support needy states and regions, in particular, with… Read More
Africa 

Doctors in Nigeria continue strike action over pay and conditions

About 15,000 doctors in Nigeria continuing with strike action over working conditions and pay, shutting down healthcare across public hospitals. Members of the Nigerian Association of Resident Doctors say an unprecedented number of them are leaving Nigeria for better job offers abroad without being replaced. Doctor Adenuga Omogbolahan is among the medical staff who have walked out.  “We are not asking… Read More
Africa 

Russia’s trade with Africa increased by 35% In the first half of 2023

Russian President Vladimir Putin said the trade turnover between Russia and African countries had increased by almost 35% in the first half of 2023 despite international sanctions and the fallout from the COVID-19 pandemic. Speaking at a trilateral meeting with the Chairperson of the African Union, President of the Union of Comoros Azali Assoumani, and the Chairperson of the African… Read More
Africa Investments 

Zambia: Private sector to play key role in nation’s recovery with incoming financial and technical support

Zambia’s success in restructuring its $6.3 billion bilateral debt under the G20 Common Framework continues to draw support from regional and global institutions. These institutions seek to ensure that the country sticks to the agreed debt arrangement, tackles debt owed to private commercial creditors—including Eurobond holders—and implements reforms critical to its economic recovery and growth.  The African Development Bank Group… Read More
Africa 

Zimbabwe opposition party holds rally ahead of election

Supporters of Zimbabwe’s main opposition party attended a Citizens Coalition for Change (CCC) rally in Chegutu, ahead of the country’s general election on August 23. While speaking at the rally, the 45 years Nelson Chamisa, who is the main opposition leader warned against violence directed towards members of the opposition. He rallied for a better Zimbabwe with sufficient jobs and… Read More
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