Category: Business

African Development Bank President Dr. Akinwumi Adesina and European Bank for Reconstruction and Development (EBRD) President Odile Reinaud-Basso have agreed that their organizations would step up cooperation to enhance resilience among African businesses. The two development bank heads held talks earlier this month at this year’s global climate summit (COP27) in Sharm El Sheikh, Egypt. Adesina highlighted that “climate adaptation… Read More

The Board of Directors of the African Development Bank, has approved a loan of  €166.36 million to Senegal for construction of the Dakar-Tivaouane-Saint Louis highway, which will enhance access to the north of the country. The financing comprises €119.69 million from the African Development Bank and €46.67 million from the Africa Growing Together Fund, a facility sponsored by the People’s… Read More

Abdou Aziz Diedhiou, head of studies and strategy, La Banque Agricole Sénégal; Kossivi Domegni, Expert in Energy Efficiency & Renewable Energy, Togo; Audrey-Cynthia Yamadjako, Coordinator, African Green Finance Facility Initiative, African Development Bank; Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth at the African Development Bank; Doug Sims, senior advisor for green finance and co-founder of the… Read More

The Board of Directors of the African Development Bank Group has approved a loan package not exceeding €125 million to Hidroeléctrica de Cahora Bassa (HCB) in Mozambique to support its Vital Capex program aimed at modernizing the company’s electricity production system. HCB, the largest Independent Power Producer (IPP) in Southern Africa, provides hydroelectric power to Mozambique and the Southern African… Read More

The African Financial Alliance on Climate Change (AFAC) unveiled a new vision for 2030 during the global climate summit (COP27), prioritizing mobilizing capital and tools to meet the Paris Agreement goal. AFAC, a pan-African alliance of Africa’s key financial institutions and commercial and development banks, mobilizes private capital to support continent-wide low-carbon and climate-resilient development. The new blueprint mainly focused… Read More

The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group, has approved $16 million in loan and grant financing to Niger to implement the Financial Sector Deepening and Inclusion Project. The project will strengthen mobilization of long-term resources for financial service providers and improve financial inclusion of vulnerable populations, particularly women,… Read More

The Board of Directors of the African Development Fund have approved a grant of $6.12 million to help strengthen public finance governance in low-income African countries. The funding is for Phase 2 of the Regional Institutional Support Project in Public Finance Governance (RISPFG) which will be implemented by two pan-African institutions: the African Tax Administration  Forum (ATAF) and the Collaborative… Read More