AfDB approves US$113.42m to facilitate agriculture commercialisation in Africa

AfDB approves US$113.42m to facilitate agriculture commercialisation in Africa

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AFRICA – The African Development Bank (AfDB) has approved a US$113.42 million partial credit guarantee for the development of commercial agriculture projects across the continent. In a statement, AfDB said the funding will be disbursed into various countries through the African Agriculture…

Marriott International to open 19 properties in Middle East and Africa in expansion plan

Marriott International to open 19 properties in Middle East and Africa in expansion plan

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AFRICA – Marriott International, an American multinational diversified hospitality company, has unveiled plans of growing its Africa and Middle East portfolio by adding 19 new properties and more than 3,000 rooms as part of its overall growth strategy. The company said that…

Energy stakeholders call on new financing mechanisms to support off-grid and mini-grid connectivity in Africa

Energy stakeholders call on new financing mechanisms to support off-grid and mini-grid connectivity in Africa

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COTE D’IVOIRE – Stakeholders in the energy industry have called for restructuring of  financing mechanisms in order to enable the development of off-grid and mini-grid connectivity in Africa. The sentiment was made during the 5th Energy Access Investment Forum in Abidjan, Cote…

AfDB doubles its climate finance commitments to US$25bn within 2020-2025

AfDB doubles its climate finance commitments to US$25bn within 2020-2025

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AFRICA – The African Development Bank (AfDB) announced that it will double its climate finance commitments for the period 2020-2025 to at least US$25 billion. The announcement was made by Akinwumi A. Adesina, the Bank’s President during the One Planet Summit in…

CDC opens offices in Kenya and Nigeria to increase investments

CDC opens offices in Kenya and Nigeria to increase investments

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AFRICA – The United Kingdom’s government-owned development finance institution, commonwealth Development Corporation (CDC), has opened offices in Kenya and Nigeria as part of its strategy trade ties with African countries. According to Nick O’Donohoe, chief executive of the CDC Group, the new…