Tag: Africa Banking

African Development Bank Group President Dr. Akinwumi Adesina on Monday outlined the Bank’s plans to address the looming food crisis threatening Africa as a result of the war between Ukraine and Russia. “I’m optimistic. Africa will not experience a food crisis. We have the means to overcome this challenge!” Adesina said. He was briefing journalists from 41 countries in Africa and around the world at a media breakfast held to mark the start of the African Development Bank Group’s Annual Meetings, being held in Accra from 23 to 27 May.…

What: African Development Bank at Innovate4Climate           Who: African Development Bank and partners       When: 25 and 26 May 2022 Where: https://www.innovate4climateconference.com/   The African Development Bank will take part in the World Bank Group’s flagship climate action event Innovate4Climate (I4C) 2022 with an exhibition booth and two workshops. The I4C 2022 edition will be held virtually over three days, from May 24 to 26. The program will include high-level plenaries and workshops. They will provide a forum for practitioners to demonstrate how to achieve a resilient and low-carbon future.…

The African Development Bank Group’s Board of Directors has approved a $1.5 billion Emergency Food Production Facility to help tackle the global food crisis sparked by the Russian-Ukraine conflict. The funds will help 20 million African farmers produce an extra 38 million metric tons of food to address growing fears of starvation and food insecurity on the continent. The Bank, which is Africa’s only AAA-rated financial institution, has consistently maintained this credit rating by all major global credit rating agencies. The emergency food production package comes as the African Development Bank gathers in…

Women and their central role in fighting climate change and sustainable land management was the focus of a special session during the 15th summit of the United Nations Convention to Combat Desertification (UNCCD) which closed Friday in the Ivorian commercial capital. In a session organized by the African Development Bank on Monday 16 May, a panel comprising female entrepreneurs, women’s groups and youth representatives, reflected on the journey of African women in devising strategies and implementation frameworks to address land degradation. The panelists also shared first-hand accounts of solutions that…

Amid a looming food crisis, Ethiopia has emerged as an African country that has taken significant steps to achieve self-sufficiency in food production. With support from the African Development Bank’s agricultural Technologies for African Agricultural Transformation program, Ethiopia has not imported grain in 2022, African Development Bank President Akinwumi Adesina emphasized during a meeting with G7 development ministers meeting on Thursday. This comes as Africa faces a severe shortage of at least 30 million metric tons of food supplies arising from the Russia-Ukraine war. The war has especially affected wheat,…

The African Development Bank is pleased to announce the appointment of Dr. Daniel Alexander Schroth as Director of the Renewable Energy and Energy Efficiency Department, effective 16 May 2022. Prior to his appointment, Schroth, a German citizen, served as Acting Director. Schroth joined the Bank in 2012 following several senior appointments with various international organizations, including as Political and Economic Adviser to the EU Special Representative for Bosnia & Herzegovina; Economic Adviser in the EU Delegation to North Macedonia; Energy Sector Coordinator for the United Nations Mission in Kosovo, and…

The African Development Bank is pleased to announce the appointment of Ms. Malado Kaba as Director of the Gender, Women and Civil Society Department of the African Development Bank, effective 16th June 2022. Kaba, a Guinean citizen, brings over 25 years of experience in international development and finance, covering public policy, macroeconomic policies, gender and development strategies. She is an accomplished leader in international development and finance and has served as the first female minister of Finance and the Economy for the Republic of Guinea. Kaba has a combination of…

In 2017, 32-year-old Hamsa Hamidou of Simiri in southwest Niger’s Tillabéry region, was given a cow. Three years later, he sold it and used the money to buy a sheep and ewe. “I fattened them and then sold them. I continued this way and three years later, I had four ewes, three sheep, and a cow,” he says. Supported by the Programme for Strengthening Resilience to Food and Nutrition Insecurity in the Sahel (P2RS), Hamidou’s small-scale enterprise has allowed him to be financially independent and to meet his family’s needs.…

In the early 2010s, Godelive Ngalula, a trader from Kikwit, the main town of Kwilu Province in the Democratic Republic of Congo, spent a week to travel the 350 kilometres (km) to Tshikapa in Kasaï Province and 50,000 Congolese francs (about $24.5) on food. A decade later, the situation has changed. “The trip takes only about a day thanks to the better road. Travel costs have dropped from $80 to $20 and I spend only 2,000 Congolese francs, or $1, on food,” she says happily. Madeleine Mahamba lives in Lukaka in…

Scaling up sustainable land management and ecosystem restoration have definite economic benefits for African countries, according to experts who took part in a panel discussion as part of the fifteenth Conference of the Parties (COP15) of the United Nations Convention to Combat Desertification. The panel was moderated by the African Development Bank. Africa is facing declining rainfall and falling agricultural yields, plunging 35 million people into food and nutrition insecurity, explained the Director General of the Agrhymet Regional Centre of the Inter-State Committee for Drought Control in the Sahel (CILSS),…