Author: APO Group

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $137 million loan to support Botswana’s economic recovery from the Covid-19 pandemic. The funds, extended under the Bank Group’s Botswana Economic Recovery Support Program, will be used to enact multi-sector reforms that will increase spending efficiency, create jobs and drive inclusive growth. The project has three components: enhancing domestic resource mobilization and mitigating fiscal risks to enhance macroeconomic performance and create fiscal space for spending on social safety nets; supporting private sector-led agriculture and industry to bolster productivity and value addition, and increase job opportunities; and…

African Energy Chamber  (www.EnergyChamber.org) Executive Chairman NJ Ayuk will attend the Ninth Conference on Climate Change and Development in Africa (CCDA-IX) in Cabo Verde on the 13th – 17th of September 2021 where he will contribute to and drive a collaborative discussion on what a just energy transition looks like for Africa. Focused on ensuring Africa’s climate change mitigation strategies coincide with, rather than restrict, Africa’s economic development, Ayuk will bring a valuable perspective to the conference. Organized by the Economic Commission for Africa and the Government of Cabo Verde, with partners the African Union Commission, the Economic Commission for…

Senior development practitioners and experts are scheduled to participate in the 15th IsDB Global Forum on Islamic Finance to discuss unleashing the potentials of Islamic finance to spur economic recovery post Covid-19 pandemic. The Islamic Development Bank (IsDB) Institute is organizing the forum as a virtual side event to be held on 28 August 2021, in conjunction with the 2021 Annual Meeting of the IsDB Group. The theme of the forum is “The Role of Islamic Finance in Post-Covid-19 Economic Recovery of IsDB Member Countries.” In the wake of the global economic upheaval triggered by the Covid-19 pandemic, the forum…

As the world observes International Youth Day, Africa is producing a growing number of young entrepreneurs who are adopting new ideas to bring more affordable, quality food from farm to fork. This year’s theme is “Transforming Food Systems: Youth Innovation for Human and Planetary Health”, putting the spotlight on the role of young people in achieving the success of such a global effort. “Africa’s youth play a key role in scaling up the continent’s agricultural production that can transform Africa’s food systems. On International Youth Day, we celebrate Africa’s next generation ‘agripreneurs,’ whose innovations in agribusiness are helping to feed…

On International Youth Day, the African Development Bank (www.AfDB.org) announces the enrolment of 130,000 users in its Coding for Employment digital skills program. The milestone comes as Coding for Employment works to equip African youth with information and communication technology, entrepreneurship and soft-skills training to compete in a digital economy. The program’s online platforms offer in-demand technical courses such as web development, design, data science and digital marketing – for free. With the onset of the Covid-19 pandemic, resulting in lockdowns and school closures across the continent, the Coding for Employment platforms experienced dramatic increases in the number of users. During…

The President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, has stated that for Africa to be able to transform herself, and become the epitome of economic empowerment and self-reliance, she needs to have the wherewithal to be able to protect and optimise the resources at her disposal. To this end, President Akufo-Addo, speaking at the EBII Africa Investments Risk and Compliance (IRC) Summit, on Friday, 30th July 2021, at the University of Oxford, has admonished African governments to build robust financial compliance systems, and ensure strict enforcement of these systems. Speaking on the theme “Financial Crime Compliance and ESG…

Imperial (www.Imperiallogistics.com)is pleased to advise that in F2019 and F2020, it created value of R146 billion ($10.23 billion) and R98 billion ($6.86 billion) for its stakeholders and communities in Nigeria and South Africa respectively, as confirmed by a recent Socioeconomic Impact Assessment study undertaken by Accenture. “Imperial plays a key role in connecting Africa and the world and improving people’s lives with access to quality products and services. As a purpose-driven organisation with Environmental, Social and Governance imperatives embedded in our business strategy all our businesses remain committed to not just creating but sustaining value for all our stakeholders across…

Kuwait’s Al-Sumait Prize (www.AlSumaitprize.org) for African Development today announced that Dr Ismahane Elouafi, the first Chief Scientist of the Food and Agriculture Organization (FAO) (www.FAO.org/home/en) of the United Nations has joined the Al Sumait Prize Board of Trustees. Dr Khaled Al-Fadhel, Director General of the Kuwait Foundation for the Advancement of Sciences (KFAS) (www.KFAS.org), member and rapporteur of Al Sumait Board of Trustees, said: “we are privileged to welcome Dr. Elouafi, a distinguished scientist and a leader who has espoused passionately the improvement of the quality of life for African societies.” Dr Elouafi has been a board member of the…

This week, U.S. Agency for International Development (USAID) Administrator Samantha Power helped to kick off the Prosper Africa Build Together Campaign at the Corporate Council on Africa’s U.S.-Africa Business Summit. As announced by Special Assistant to the President and National Security Council Senior Director for Africa Dana L. Banks and reinforced by Department of Commerce Secretary Gina M. Raimondo, the campaign is a targeted effort to elevate and energize the United States’ commitment to trade and investment with countries across the African continent under the Biden-Harris Administration. USAID will play a leading role in the Prosper Africa Build Together Campaign,…

Global credit rating agency Fitch Ratings has affirmed the African Development Bank’s (www.AfDB.org) credit rating at ‘AAA’, with a stable outlook. Fitch said the triple-A rating was driven by the ‘extraordinary support’ of the Bank’s shareholders. Fitch views the Bank’s risk-management policies as ‘conservative’ and assesses them as ‘excellent’, in line with AAA-rated peers. “Concentration risk is ‘low’, with the bank’s five largest exposures accounting for 32% of total banking portfolio at end-2020.” Bajabulile “Swazi” Tshabalala, Vice President for Finance and Chief Finance Officer of the African Development Bank, said: “The affirmation of the Bank’s triple-A ratings by Fitch, recognizes the very strong shareholder…