Category: Business

West Africa experienced slower economic growth over the past year except for Cabo Verde, The Gambia, Guinea, Mali, and Niger, according to the African Development Bank’s 2023 West Africa Economic Outlook report. Launched on Thursday 27 July, the report assessed the economic performance of 15 West African countries, namely: Benin, Burkina Faso, Cabo Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea,… Read More

East Africa will register the highest regional economic performance on the continent in 2023 and 2024, with growth figures at over 5 percent, according to the newly published African Development Bank 2023 East Africa Economic Outlook. The report, launched on Thursday 27 July, projects mid-term economic growth in the region to accelerate to 5.1% in 2023 and 5.8 % in… Read More

African Development Bank Group President Dr Akinwumi Adesina has been honoured by the Nigerians in Diaspora Commission (NIDCOM) with the prestigious National Diaspora Merit Award in recognition of his selfless service and contributions as a Nigerian Diaspora Global Icon. Other recipients in the Global Icon category are United Nations Deputy Secretary General Amina J. Mohammed, and Director General of the… Read More

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

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

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

North Africa Economic Outlook 2023: with economic growth set to reach 4.6 percent in 2023, North Africa should make green growth an urgent regional priority, according to the African Development Bank | African Development Bank Group – Making a Difference <!– African Development Bank Group Read More