First Independent Mena Newspaper
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 […]
The African Development Bank Group approved a €70-million financing facility for Bank of Africa Maroc (BOA) to promote access to financing African trade. The package comprises a €50 million Risk Participation Agreement (RPA) and a €20 million Trade Finance Line of Credit (TFLOC), the AfDB said in a press release. “The African Development Bank, rated […]
The African Development Bank (AfDB) and the World Bank are working together to provide electricity to 300 million Africans by 2030 through renewable energy system. Some 600 million Africans lack access to electricity, creating significant barriers to health care, education, productivity, digital inclusivity, and ultimately job creation, according to the World Bank. The WB said […]
The African Development Bank approved a loan of 102.7 million dollars to help Togo farmers boost their resilience to climate change and foster sustainable agricultural practices. The funding also aims at helping farmers reduce greenhouse gas emissions and provides support for small irrigation systems covering at least 39,179 ha, in addition to the provision of […]
The African Development Bank (AfDB), headquartered in Abidjan, Côte d’Ivoire, will elect a new president in May 2025. As the candidacy period approaches in September 2024, several names are emerging as potential contenders. Among the prominent candidates is Ousmane Kane from Mauritania, a former AfDB Vice-President for Institutional Services and a close associate of Mauritanian […]