First Independent Mena Newspaper
Tunisia will witness a 2.3 per cent economic growth rate in 2023 and 2024, the African Development Bank (AfDB) announced Wednesday, as it presented its economic outlook for 2023. The Abidjan-based institution also projects inflation to stand at 8.8 per cent over the same period. The inflation figure is slightly higher than that of the […]
The African Development Bank Group, AfDB, has greenlighted a partial credit guarantee of $345 million to Egypt for the financing of green and social projects, reports say. Egypt expects to use the credit guarantee to raise the equivalent of $500 million in the Chinese Yuan denominated Panda Bond market, issued by foreign borrowers, Egypt Today […]
Africa’s agribusiness sector is expected to grow to become a $1 trillion industry by 2030, participants at a recent Africa Investment Forum (AIF) have concluded, predicting that agribusiness will become a catalyst in driving the economy on the continent. Leaders of Africa’s top agribusiness companies, who shared their thoughts on the future of the industry […]
The African Development Bank AfDB ranked Morocco the second largest industrial country in the African continent with a narrow margin behind South Africa. Moroccan industrial exports accounted for 21% of Africa’s manufactured exports, widening the gaps with North African peers such as Egypt and Tunisia. Morocco has developed in the previous decade the industrial acceleration […]
Burkina Faso and the African Development Bank (AfDB) signed Monday 10 agreements for financing six projects in the West African country to the tune of $184 million. Aboubakar Nacanabo, the country’s finance and economy minister indicated that the first conventions will provide funds for Water and Sanitation Services Improvement for Resilience Building Project (PASEPA-2R), project […]
To protect its abundant natural resources, African countries need to make concerted efforts to combat illicit resource trade, according to reports from the African Development Bank (AfDB) and United Nations Environment Program (UNEP). Africa boasts a significant amount of the world’s natural resources, both renewable and non-renewable, including arable land, oil, natural gas, minerals and […]
The African Development Bank Group will commit $10 billion over the next five years to boost Africa’s efforts to end hunger and become a primary food provider for itself and the rest of the world, AfDB President, Dr Akinwumi Adesina, announced at the Dakar 2 Africa Food Summit in Diamniadio, east of the Senegalese capital, […]
The African Development Bank predicts the continent’s growth will be stronger-than-expected at 4% this year. Its cautiously optimistic economic outlook is partly based on the expectation that China will continue to re-open after three years of strict Covid-19 policies “Despite the confluence of multiple shocks, growth across all five African regions was positive in 2022- […]
Morocco has contributed $5 million to the African Development Fund (ADF), which provides concessional funding for projects, technical assistance for studies and capacity-building activities in Africa. The Moroccan contribution was made during the Fund’s 16th replenishment meeting convened in Tangier Dec.5-6 to raise money for low-income African countries to enable them counter social and economic […]
Morocco will make a contribution to replenish the African Development Fund, a concessional funding window of the African Development Bank. “The decision reaffirms Morocco’s willingness and commitment to help African states in line with the King’s enlightened vision to foster African solidarity and prosperity,” Finance Minister Nadia Fettah Alaoui said in a speech read on […]