First Independent Mena Newspaper
The African Development Bank (AfDB) will support the first phase of Egypt’s Private Sector Development and Economic Diversification Program. This comes under a $131 million agreement with the Egyptian Government and is part of a broader effort to strengthen Egypt’s economy and improve the business environment. This initiative aligns with the government’s strategy to enhance […]
With the two-term tenure of African Development Bank (AfDB) president Akinwumi Adesina coming to an end by May 2025, a total of eight candidates, including from South Africa, Algeria, Senegal, Zambia, and Mauritania, are in race to succeed him. The race is beginning to heat up with candidates across Africa declaring their intention to replace […]
The African Development Bank (AfDB) has extended Morocco a €104.7 million loan to boost the water sector in the Kingdom. The funding is destined to speed up the digitalization processes of the National Office for Electricity and Drinkable Water (ONEE), boost drinking water production in several urban areas (Asfalou, Bouhouda and Agourai), and improve the […]
Morocco’s railway operator ONCF has presented a “strategic” plan to expand the service for a total cost of 8.8 billion dollars, in a project that drew interest of investors offering up to 14 billion dollars, head of the African Development Bank chief Akinwumi Adesina said. The project was a “big success” for Morocco, Adesina said […]
Curtains fell on the Africa Investment Forum in Rabat which helped the African Development Bank (AfDB) mobilize a total funding of $29.2 billion for 47 projects, covering critical areas such as water supply, energy, transport, mining, pharmaceuticals, private equity, tourism, and infrastructure. The event drew 2,300 investors and delegates from 83 countries, AfDB chief Akinwumi […]
The number of African countries offering e-visas has risen from 9 in 2016 to 26 in 2024, the latest addition of the Africa Visa Openness Index (AVOI) has revealed, with Benin, The Gambia, Rwanda and the Seychelles ranked the highest in visa openness, with Africans requiring no visas to enter these countries. The 2024 Africa […]
The African Development Bank signed a loan agreement worth 350 million euros in support of Moroco’s economic governance, climate resilience, water management, and industry as it also plans to extend a financing of 650 million euros to help Morocco develop transport infrastructure. As part of the first loan, signed during the Africa Investment Forum (AIF) […]
Africa is poised to play a leading role in energy transition as it continues to attract prime investors thanks to its large deposits of critical minerals, African Development Bank chief Akinwumi Adesina said. Speaking at the opening of the African Investment Forum in Rabat, Adesina said Africa holds 95% of chromium, 90% of Platinum Group […]
The Nigerian Government has secured a $134 million loan from the African Development Bank (AfDB) to strengthen its agricultural sector amid growing food insecurity concerns. This funding aims to increase seed and grain production and improve food security, according to a statement of the Agriculture ministry on November 14. A recent “Harmonized Framework” report, prepared […]
The US Agency for International Development aid (USAID) and the African Development Bank (AFDB) signed a $600 million deal to promote social and economic development projects in the Sahel. The co-financing agreement will be used to support good governance, resilient agriculture, private sector development, water security, sanitation, and health systems. The agreement “reflects a joint […]