Africa

Ebuka Daniel The Federal Government has disclosed plans to host an Exhibition and Trade Fair ceremony which will bring together all relevant stakeholders from the 774 local governments in the country as well as the Federal Capital Territory area councils. According to the Minister of Industry, Trade and Investment, Niyi …

The Board of Directors of the African Development Bank Group has approved a $20 million flexible loan to finance Seychelles’ Governance and Economic Reforms Support Program, expected to help drive the island nation’s macroeconomic stability and recovery from Covid-19 in the medium-term. The government program aims to deepen reforms introduced …

Ebuka Daniel The African Development Bank Group and the Government of Ethiopia have signed two separate grant agreements for new projects to boost youth employment and electricity trade between Ethiopia and Djibouti. The grants fall under the Bank Group’s concessional lending window, the African Development Fund, and will go towards …

Kenyan insurers and reinsurers faced challenging economic factors in 2020 which made the year a difficult one as the market generated KSH233bn ($2.1bn) of gross written premium, according to a new report from AM Best. However, Kenya’s relatively stable economy and strengthening regulatory environment, compared with other markets in sub-Saharan …

Oluwasina Phillip The Minister of Industry, Trade and Investment, Niyi Adebayo on Thursday stated that African Continent Free Trade Area has the potential to boost consumer and business spending in Africa up to the tune of $6.7tn and drive huge foreign direct investments. Adebayo stated this while outlining federal government’s …

The African Development Bank Group is pleased to announce the appointment of Mr. Lamin BARROW as Director General, Nigeria Country Office, effective 1st July 2021. Mr. Lamin Barrow, a Gambian national, joined the African Development Bank in 2000. Prior to his appointment, he was Acting Senior Director, Nigeria Country Office, …

Ololade Omosan-Agie The Board of the Green Climate Fund(link is external) (GCF) has approved $170.9 million in financing for the African Development Bank’s Leveraging Energy Access Finance Framework (LEAF) program.  LEAF aims to unlock commercial and local-currency financing for decentralized renewable energy (DRE)  projects in six program countries: Ghana, Guinea, Ethiopia, Kenya, …

The African Development Bank Group is pleased to announce the appointment of Mr. Mouhamed BA as Acting Auditor General, effective June 1st, 2021. As Acting Auditor General, Mouhamed will be responsible for managing the internal audit activities of the African Development Bank Group, reporting to the President and the Audit …

Oluwasina Phillip The African Development Bank, the Korean Ministry of Economy and Finance and the Export-Import Bank of Korea have signed an agreement, under which Korea will provide $600 million in co-financing for energy projects alongside the African Development Bank. The Korea-Africa Energy Investment Framework (KAEIF) pact follows the signing …

Olololade Omosan-Agie President Nana Akufo-Addo has commissioned a Toyota assembly plant in Ghana. The commissioning marks the deal sealed by the West African country with Toyota back in 2019. Akufo-Addo commissioned the factory on Tuesday in the Toyota Tsusho Manufacturing Company Limited at Freezones Enclave, Tema. The country has recently …