Category: Business

African Development Bank Vice President for Private Sector, Infrastructure, and Industrialisation Solomon Quaynor has called for unity to unlock the potential of African sovereign wealth funds, strategic investment funds, pensions, and life insurance assets, estimated at $2.3 trillion. Speaking at the Second Annual Meeting of the Africa Sovereign Investors Forum (ASIF) in Kigali last week, Quaynor said the African Development… Read More

The Board of Directors of the African Development Bank Group has approved a €400 million partial credit guarantee for Côte d’Ivoire, to support the mobilization on international financial markets of financing for strategic environmental, social and governance (ESG) projects. The approval came on 12 July 2023. The partial credit guarantee will enable Côte d’Ivoire to raise long-term financing from commercial… Read More

Mozambican Prime Minister Adriano Maleiane has given a resounding endorsement of the African Development Bank’s development strategy in his country. Receiving the Bank’s vice president for regional development, integration and business delivery, Marie-Laure Akin-Olugbade in his office on Thursday, Maleiane complimented the African Development Bank for what he said was its unique approach to development and partnership, which went beyond… Read More

The African Development Bank has appointed Mr Max Magor Ndiaye as Director of the Syndication, Co-financing and Client Solutions Department, effective 1st July 2023. Ndiaye, a US national, is a structured finance, risk management, and capital markets professional with over 20 years of international public and private sector experience. Before this appointment, he served as the Acting Director of the… Read More

Since late 2022, the government of Zimbabwe has been engaged in a concerted process to resolve its official debt and clear its arrears with international creditors, including the African Development Bank. On Thursday, June 29th, the Zimbabwean government held the fifth in a series of structured dialogue meetings with development partners and creditors. The Zimbabwean finance and economic development ministry… Read More

Tanzania’s President Samia Suluhu Hassan held talks with an African Development Bank delegation led by vice president Beth Dunford to boost the East African country’s agricultural production and food security. The meetings, held on 27 June, covered various development issues, including the Bank’s recognition of Tanzania’s progress in developing its agriculture sector following January’s Dakar 2 Africa Food Summit. President… Read More

According to the 2023 Tax Transparency in Africa progress report unveiled at the 13th Meeting of the Africa Initiative in Cape Town today, African countries have realised additional revenues totalling €1.69 billion thanks to voluntary disclosures, the implementation of information exchange mechanisms, and rigorous offshore investigations. From 2009 through 2022, these measures have effectively boosted tax revenue, interest, and penalties,… Read More

The African Development Bank and other multilateral development institutions have released a set of principles to ensure climate financing aligns with the goals of the Paris Agreement. The MDBs are collaborating to help accelerate the successful transition to a low-carbon and climate-resilient future by supporting appropriate long-term development pathways in line with the goals of the Paris Agreement. In addition to… Read More

Africa’s first woman in space, 30-year-old Sara Sabry from Egypt, says space exploration should not be an exclusive club. The founder of the Deep Space Initiative was the centre of attraction on Tuesday 4 July during a panel discussion at the Africa50 Infra Forum and General Shareholders Meeting held in Togo’s capital Lomé. Investors and policymakers listened keenly, often erupting… Read More

The African Development Bank-managed Sustainable Energy Fund for Africa (SEFA) has showcased hydropower as a key element of meeting the accelerating demand for renewable energy at the Africa Energy Forum held in the Kenyan capital. The Africa Energy Forum took place in Nairobi from 20-23 June, organised by Energy Net with support from the Government of Kenya, the African Development Bank, IFC… Read More