AfDB appoints Solomon Mugera as Director, Communication and External Relations

AFRICA – The African Development Bank Group has announced the appointment of Mr. Solomon Mugera as Director, Communication and External Relations, effective 1 October 2021. Mugera, a Kenyan national, brings extensive experience to this role. He is a seasoned journalist and media manager with over 20 years of expertise working internationally. As Head of Journalism for the British Broadcasting Corporation (BBC) Africa, Mr. Mugera presided over the largest expansion of the BBC on the African continent since the 1940s, supporting the corporation in reaching a weekly audience of more than…

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TotalEnergies LNG Mozambique project could resume within 18 months – AfDB

MOZAMBIQUE – TotalEnergies’ liquefied natural gas (LNG) project in Mozambique could be back on track within the next 18 months after African armies were deployed to help quell an insurgency, the president of the African Development Bank (AfDB) has said. The French energy giant declared force majeure on the US$20 billion project in April 2021 after Islamic State-linked fighters overran the town of Palma, on the doorstep of its facilities in the northern Cabo Delgado province. It estimated at the time the disruption would delay development by at least a…

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AfDB appoints Cesar Augusto Mba Abogo as Country Manager for Mozambique

MOZAMBIQUE – The African Development Bank Group (AfDB), has announced the appointment of Mr. Cesar Augusto Mba Abogo as Country Manager, designated for Mozambique Country Office, effective 16 August 2021. Mr. Cesar Augusto Mba Abogo, a citizen of Equatorial Guinea, is an Economist and a writer with more than 15 years of experience in natural resource economics, development economics, public policy and international negotiations. From April 2019 to October 2020, he served as Minister of Finance, Economy and Planning for the Republic of Equatorial Guinea. He was appointed during challenging…

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AfDB appoints Jacques DJOFACK as Director of Financial Management

AFRICA – The African Development Bank Group has announced the appointment of Mr. Jacques DJOFACK as Director, Financial Management, effective 1st June 2021. Jacques, a French national, brings to this role almost 20 years of international experience and expertise in Financial Risk Management from both Development Banks and Commercial Banks in Africa and Europe. Prior to his appointment, Jacques served as Division Manager in the Financial Management Department of the Bank, a position he has held since April 2018. Jacques joined the Bank in 2011 as Chief Financial Risk Officer…

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AfDB appoints Atsuko TODA the acting Vice President for Agriculture, Human and Social Development

AFRICA – The African Development Bank Group (AfDB) has announced the appointment of  Ms. Atsuko TODA as Acting Vice President for Agriculture, Human and Social Development, effective 16 March 2021. Atsuko, a Japanese citizen, is a seasoned professional with over 20 years of experience with international institutions. Atsuko joined the Bank in December 2016 as Director of the Agriculture, Finance and Rural Infrastructure Development Department. In her current function, she is responsible for the bank’s investments in private sector agribusiness companies, mainstreaming disaster risk finance, and development of Special Agro-Industrial…

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AfDB approves US$120m loan to build Malagarasi hydro-power project in Tanzania

TANZANIA – The African Development Bank (AfDB) has approved a US$120 million loan to fund the construction of a 50MW hydro-power plant in Western Tanzania that will provide reliable renewable energy in Kigoma region. The Malagarasi hydro-power project has several components: a run-of-the-river hydro-power plant facility; a 54- km, 132 kV transmission line that will connect to Tanzania’s national grid; a distribution network expansion operation that includes rural electrification and last-mile connections; project management and contract administration support; and compensation and resettlement of affected persons. Bank President Adesina Akinwumi noted…

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Nigerian Economist Akinumwi Adesina re-elected President of AfDB Bank

NIGERIA – Nigerian Economist, Dr. Akinwumi A. Adesina has been re-elected to serve a second five-year term as President of the African Development Bank Group by the Board of Governors of the Bank. Adesina, 58, is a distinguished development economist and agricultural development expert with 25 years of international experience and is the first Nigerian to serve as President of the Bank Group. A statement from AfDB revealed that Adesina who was first elected as President of the Bank will begin his new 5-year term on September 1, 2020. AfDB…

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Nigeria increases stake in AfDB as bank presidential elections draws nigh

NIGERIA – The Federal Government of Nigeria has almost doubled its stake at the African Development Bank (AfDB) at a time when the bank is heading into an election to elect its next president. According to a report by Nairametrics Nigeria increased its stake at the African Development Bank to 16% by paying subscriptions it had pledged as part of a general capital before the January 2021 deadline. The development according to a report by Bloomberg makes Nigeria the biggest rights holder with a wider margin, followed by non-regional members…

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