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 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 Beth Dunford as Vice President, Agriculture, Human and Social Development

AFRICA – The African Development Bank (AfDB), has announced the appointment of Dr. Beth Dunford as Vice President, Agriculture, Human and Social Development, effective 1st July 2021. Dr. Dunford, an American national, brings extensive experience to this role having held senior-level leadership positions in the US government where she managed large and complex programs, working with the private sector, civil society, and multilateral and bilateral institutions, as well as with African governments, to deliver agricultural, social and human development impact at scale. Prior to her appointment, Dr. Dunford worked as…

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FAO and Arab Bank for Economic Development in Africa sign MoU to advance African agriculture

AFRICA – The United Nations Food and Agricultural Organization (FAO) and the Arab Bank for Economic Development in Africa (BADEA) have signed a memorandum of understanding for future collaboration to promote agricultural infrastructure development and skills training for women and youth. The agreement would also advance climate-smart agriculture in Africa. FAO Director-General Dr. Qu Dongyu and BADEA Director-General Sidi Ould Tah signed the agreement on 29 April in a virtual ceremony during a high-level dialogue organized by the African Development Bank and the International Fund for Agricultural Development, in partnership…

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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 named World’s Best Multilateral Financial Institution 2021 by Global Finance

AFRICA – Prestigious U.S. magazine, Global Finance, specializing in financial markets and investment banking, has named the African Development Bank (AfDB) as the “Best Multilateral Financial Institution in the world for 2021.”  The award is a global recognition for the path breaking efforts of the African Development Bank as it transforms itself into a solutions bank for Africa, through a combination of its operations, knowledge services and investment positioning, which continue to help accelerate Africa’s development. The award is an affirmation of the success of the operational strategy being pursued by…

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AfDB and JICA sign US$668.1m loan agreement to replenish African Development Fund

AFRICA – The Japan International Cooperation Agency (JICA) and the African Development Fund (ADF), the concessional arm of the African Development Bank Group have signed a loan agreement of US$668.1 million to support the 15th replenishment of the African Development Fund (ADF-15). During a virtual ceremony, African Development Bank Group President Dr. Akinwumi A. Adesina and Japanese Ambassador to Côte d’Ivoire Kuramitsu Hideaki signed an Exchange of Notes, while the loan agreement was signed by the JICA Chief Representative in Côte d’Ivoire, Fujino Kojiro, and Acting African Development Bank Group Senior…

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Mozambique LNG Area 1 Project and AfDB win Multilateral Deal of the Year Award

MOZAMBIQUE – The Mozambique Liquefied Natural Gas (LNG) Area 1 Project and the African Development Bank (AfDB) have jointly received the prestigious Global Multilateral Deal of the Year 2020 award by the print and online publication Project Finance International (PFI). The project, the single largest foreign direct investment in Africa to date with a value of more than US$24 billion, will exploit Mozambique’s immense offshore natural gas reserves, which can potentially transform global energy markets. The AfDB signed an agreement for a US$400 million senior loan to finance the project in July 2020. In…

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AfDB pledges to mobilise US$6.5b in support of the Sahel’s Great Green Wall initiative

AFRICA – The Sahel region’s Great Green Wall Initiative received a major boost from the African Development Bank this week when the bank pledged to assist in mobilising up to US$6.5 billion over five years, to advance the landmark initiative. The resources will be made available through a range of programmes in support of the Great Green Wall by drawing on internal as well as external sources of funding, such as the Sustainable Energy Fund for Africa (SEFA) and the Green Climate Fund (GCF), among others. Multilateral development partners joined…

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