First Independent Mena Newspaper
The African Development Bank, AfDB, rubber-stamped Tuesday a €400 million partial credit guarantee for Côte d’Ivoire, to support the mobilization on international financial markets for strategic environmental, social and governance (ESG) projects. “The partial credit guarantee will enable Côte d’Ivoire to raise long-term financing from commercial banks, in line with its ESG Framework. Côte d’Ivoire […]
The rise in cost of debt servicing has led to 25 countries in Africa being at risk of either high debt distress or in-debt distress, African Development Bank (AfDB) Group president has warned, just as the International Monetary Fund (IMF) has approved billion-dollar loans to Zambia and Senegal. AfDB chief, Akinwumi Adesina, said African markets […]
The African Development Bank, AfDB, has made equity investment worth $11 million in Luxemburg-based BluePeak Private Capital Fund to support mid-size firms, including in the pharmaceuticals, agribusiness, manufacturing, and logistics sectors, across Africa. The Abidjan-based bank in a statement said BluePeak – a flagship private capital fund – will provide growth capital to middle-sized companies […]
The African Development Bank has announced a €120-million funding to support Morocco’s efforts to improve women-children’s healthcare in rural areas, especially in the regions of Beni Mellal-Khenifra, Draa-Tafilalet and Guelmim-Oued Noun. The bank’s financial support is destined to improve access to healthcare centers, modernize health services through innovative solutions that improve connectivity and streamline their […]
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 […]