Visa openness in Africa unlocking intra-regional trade and investments potential, report shows

November 12, 2019

AFRICA – African travellers now have liberal access to over half the continent, the 2019 Africa Visa Openness Index published by the African Union Commission and African Development Bank, reveals. The report was launched on the sidelines of the Africa Investment Forum in Johannesburg, South Africa. On average, Africans can travel to approximately 27 countries […]

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AfDB Board approved US$115 billion capital injection to stabilize its AAA rating

November 4, 2019

AFRICA – The board of the African Development Bank (AfDB) have approved US$115 billion capital injection that will see the pan-African lender capital base jump from US$93 billion to US$208 billion, the largest in the lender’s history. The President of the AFDB, Akinwunmi Adesina, revealed this in a press conference after in which he spoke […]

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Seedstars World partners with African Development Bank to propel youth start-ups

November 1, 2019

AFRICA – Seedstars World, a Swiss-based start-up competition in emerging markets, and the African Development Bank announced a strategic partnership to implement its innovative ‘job creation track’ model to support youth employment and entrepreneurship in Africa. The partnership is in line with the Bank’s entrepreneurship and innovation lab under its Jobs for Youth in Africa […]

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African Development Bank approves US$165m for Angola economic diversification

October 31, 2019

ANGOLA – The Board of Directors of the African Development Bank Group approved a US$165 million loan to finance part of Angola’s three-year economic diversification support program intended to restore the country’s macroeconomic stability. The Angolan government is implementing reforms to diversify its oil-dependent economy. It has adopted measures to improve human and social development […]

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African Development Bank inks US$13.86m deal with Adiwale Fund for SMEs

October 28, 2019

WEST AFRICA – The African Development Bank signed off on its US$13.86m equity investment in Adiwale Fund 1, a first-generation private equity fund targeting high growth potential Small and Medium Sized Enterprises (SMEs) in francophone West Africa. The Bank Group’s board of directors approved the investment in March as part of its commitment to grow […]

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Sustainable Energy Fund for Africa approves US$500,000 grant for clean energy

October 28, 2019

NIGERIA – The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, has approved a US$500,000 grant to support the development and launch of the Nigeria Energy Access Fund (NEAF). NEAF is a new private equity fund developed by All On, a Nigerian impact investment firm financed by Shell. NEAF will make […]

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AfDB’s US$121.4m investment in Cameroon’s power sector improves power supply and reliability

October 27, 2019

CAMEROON – The African Development Bank’s (AfDB) US$112.4 million investment in Cameroon’s power sector is starting to bear fruits and is helping the country realise its full energy potential and unshackle itself from the problems of unreliable power supply. AfDB’s investment was channeled to three power projects in the country in 2010-2011 and the projects […]

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AfDB approves US$5.5m equity investment to support small businesses in sub-Saharan Africa

October 25, 2019

AFRICA – The Board of Directors of the African Development Bank Group (AfDB) has approved a US$5.5m equity participation in Investisseur & Partenaire pour le Développement 2 (IPDEV.2), to support Small Growing Businesses (SGBs) in Sub-Saharan Africa. Senegal, Cote d’Ivoire, Benin, Mali, Niger, Burkina-Faso, Cameroon, DRC, Ghana, and Madagascar are among the targeted countries. IPDEV.2 […]

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Asia’s largest pension fund to promote sustainability bond markets in Africa

October 17, 2019

AFRICA – The African Development Bank and Japan’s Government Pension Investment Fund (GPIF) have signed a partnership to promote environmental, social and governance investments in the global capital markets. In a statement the Bank noted that the collaboration between the Bank and GPIF will focus on channelling investments towards inclusive and sustainable growth in Africa, […]

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Malawi gets US$13 million from AfDB to boost its Blue Economy

October 16, 2019

MALAWI – The African Development Bank Group has approved a US$13.2 million financing package from the African Development Fund for a fisheries and aquaculture development project in the country. The country’s government will add another US$1.38 million for the Sustainable Fisheries, Aquaculture Development, and Watershed Management project designed to protect Malawi’s water resources while leveraging […]

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