Resource-rich Africa has no excuse to remain poor, says African Development Bank president
With $6.2 trillion worth of natural resources, 65 percent of the world’s uncultivated arable land, and a vibrant youth population, Africa has no excuse to be poor, African Development Bank Group President Dr Akinwumi Adesina (https://www.AfDB.org) said on Tuesday. He said the continent must look inward urgently to solve its many challenges and urged citizens to hold […]
Troubling Pledges: Past, Present, and Possibly, Future (By NJ Ayuk)
By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org). As we embark upon the 28th session of the Conference of the Parties (COP28) to the UN Framework Convention on Climate Change (UNFCCC), as the executive chairman of Africa’s preeminent advocacy group working toward a just energy transition for our continent, I find myself compelled to deliver […]
Kenya: African Development Bank lends €73 million to improve economic governance and boost industrial development
Meeting in Abidjan on 29 November 2023, the Board of Directors of the African Development Bank (www.AfDB.org) approved a loan of €73 million to Kenya to support Phase III of the Competitiveness and Economic Recovery Support Programme. The financing will cover the fiscal year 2023-2024. It is intended to build resilience and support inclusive post-Covid-19 economic […]
Kenya: African Development Bank commits more than €101 million to boost access to electricity
The Board of Directors of the African Development Bank Group (www.AfDB.org) on Wednesday approved a €101.10 million loan to Kenya to implement the third phase of the Last Mile Connectivity Project. The project will improve electricity access for households, social infrastructure and micro, small and medium enterprises. The project will also benefit from a $13.17 million (€12.12 million) […]
The Prime Minister of Algeria meets with the Ambassador of Qatar
HE Mr. Nadir Larbaoui, the Prime Minister of the People’s Democratic Republic of Algeria, met with HE Mr. Abdelaziz Ali Al-Naama, the Ambassador of the State of Qatar to Algeria. During the meeting, they reviewed the bilateral cooperation relations between the two countries. Distributed by APO Group on behalf of Ministry of Foreign Affairs of […]
Natural Gas Is Key to a Just African Energy Transition (By NJ Ayuk)
By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org). It would be an understatement to say Tanzania’s Songo Songo gas field has been good for the country and its citizens. Since 2004, the project’s output has been put to work to benefit the Tanzanian economy, its domestic energy supply, energy costs, employment numbers, and the […]
Islamic Development Bank Institute (IsDBI) Issues French Edition of the Book on Islamic Development Bank’s Historical Evolution
The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce the release of the French language edition of the book titled “The Islamic Development Bank and Dr. Ahmad Mohammad Ali: History of an Institution and Journey of a President”. Originally published in the Arabic language and later in the English language, the book documents […]
National Basketball Association (NBA) Africa Opens New Office in Kenya
NBA Africa (www.NBA.com) today announced that the league established a new subsidiary in Kenya, with an office located in Westlands, Nairobi. The NBA Kenya office will support all of the league’s business and basketball development initiatives in the country and will be led by NBA Kenya Senior Director and Country Operations Lead Michael Finley. The […]
The African Development Bank launches research project on grain quality grading and certification in Ghana
The African Development Bank (www.afdb.org/) has launched a three-year research and outreach initiative in Ghana to enhance the cereal value chain development in the country. The Grain Quality Grading and Certification Project is being implemented by the Microeconomics, Institutional and Development Impact Division of the African Development Bank, in partnership with the School of Agriculture […]
African Development Bank Revises Economic Forecast for Africa downwards amid continued global shocks
The African Development Bank (www.AfDB.org) has revised its short to medium-term macroeconomic forecast for Africa, for 2023 and 2024 downwards to 3.4% and 3.8%, from 4.0% and 4.3%. The slightly lower figures reflect the persistent long-term effects of COVID-19, geopolitical tensions and conflicts, climate shocks, a global economic slowdown, and limited fiscal space for African […]
