Tag: AfDB

Bajabulile Tshabalala appointed as Senior Vice President of the AfDB Group

Frank

AFRICA – The African Development Bank Group (AfDB), has announced the appointment of Ms. Bajabulile “Swazi” Tshabalala as Senior Vice President effective 1 November 2021 Ms. Tshabalala, a South African national, has been Vice President of Finance and Chief Financial Officer of the African Development Bank Group since joining the Bank Group in August 2018. She was appointed by President Adesina as Acting Senior Vice President in March 2020, following the retirement of the incumbent, Mr. Charles Boamah. Over the past three years, Swazi has served in several key leadership…

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Green Climate Fund invests US$150m in AfDB’s Desert to Power initiative

Frank

AFRICA – The African Development Bank (AfDB) has welcomed US$150 million investment in its Desert to Power G5 Financing Facility from the Green Climate Fund (GCF). The GCF approved the amount at its 30th Board meeting. Desert-to-Power is a flagship renewable energy and economic development initiative led by the African Development Bank whose objective is to light up and power the Sahel region by building an electricity generation capacity of 10 gigawatts through photovoltaic solar systems via public, private, grid and off-grid projects by 2030 The objective of the umbrella Desert…

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AfDB approves US$86.72m loan to boost water supply in South Africa and Lesotho

Frank

LESOTHO – The African Development Bank Group’s (AfDB) Board of Directors has approved a loan of US$86.72 million to co-finance the second phase of the Lesotho Highlands Water Project. The multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho and the project entails harnessing the waters of the Senqu/Orange River in the Lesotho highlands by constructing a series of dams for the mutual benefit of the two countries. The Trans-Caledon Tunnel Authority, a state-owned entity in South Africa charged with financing and…

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AfDB appoints Souley Amadou as General Counsel and Director of Legal Services

Frank

AFRICA – The African Development Bank (AfDB), has announced the appointment of Dr. Souley Amadou as General Counsel and Director of the Legal Service Department, effective 1st November 2021. A transactional lawyer, Dr. Souley Amadou has over 25 years of substantive legal work experience, including over 20 years spent at the African Development Bank Group and also assumed the role of Acting Corporate Secretary & General Counsel of Africa50 from 2015 to 2018. A highly recognized legal professional for his strategic leadership and management skills in multicultural settings, Dr. Amadou…

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AfDB secures US$115m from German government for its SEFA projects

Frank

AFRICA – The German government will contribute €100 million (US$115.83m) to the African Development Bank’s Sustainable Energy Fund for Africa (SEFA), affirming its commitment to efforts to tap Africa’s renewable energy potential and drive its transition to clean energy sources. The funding will go to unlock private sector investment in green-baseload projects, a SEFA priority focus. Specifically, it will support technical assistance and investment in power generation, transmission and distribution to increase penetration of renewable power in African grids. The funding follows Germany’s initial contribution to SEFA of €50 million…

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AfDB grants US$29m to facilitate access to energy in Burundi

Frank

BURUNDI – The Board of Directors of the African Development Fund approved, on September 17, a donation of US$ 28.9 million to Burundi to carry out the first phase of its Energy Access Project. The African Development Fund, the Bank Group’s concessional window, will provide funding of US$12.01 million and the Transition Support Facility, a Bank fund intended for countries in transition, US$16.55 million. “The Bank’s support for the Burundi Energy Access Project is in line with the priorities defined in the Country Strategy Paper and in the Burundi National…

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Burkina Faso secures US$69m from AfDB to finance access to electricity in peri-urban areas

Frank

BURKINA FASO – The African Development Bank (AfDB) has approved a new €59.43 million (US$69.63m) loan to Burkina Faso to finance access to electricity for 218,400 households in peri-urban and rural areas. The financing granted by the African Development Bank (AfDB) is intended to accelerate access to electricity in Burkina Faso through two government-led projects. These are the Electrification and Development of Electricity Connections Project (Pedecel) which will be implemented between October 2021 and December 2025. The Yeleen project benefits from this new financing from the pan-African bank. The project…

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AfDB approves US$50m for its RPA with Standard Chartered Bank

Frank

AFRICA – The African Development Bank (AfDB), has approved a US$50 million Trade Finance Unfunded Risk Participation Agreement (RPA) facility between the African Development Bank and Standard Chartered Bank. The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa, in line with implementation aspirations of the African Continental Free Trade Area (AfCFTA). The parties will share the default risk on a portfolio of eligible trade transactions originated by African Issuing Banks and indemnified by Standard Chartered Bank.…

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AfDB approves US$137m loan for Botswana’s post-Covid-19 economic recovery

Frank

BOTSWANA – The Board of Directors of the African Development Bank Group (AfDB) has approved a US$137 million loan to support Botswana’s economic recovery from the Covid-19 pandemic. The funds, extended under the Bank Group’s Botswana Economic Recovery Support Program, will be used to enact multi-sector reforms that will increase spending efficiency, create jobs and drive inclusive growth. The project has three components: enhancing domestic resource mobilization and mitigating fiscal risks to enhance macroeconomic performance and create fiscal space for spending on social safety nets; supporting private sector-led agriculture and…

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AfDB appoints Solomon Mugera as Director, Communication and External Relations

Frank

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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