Browsing: AfDB

• AfDB calls for increased financing for smallholder farmers in Africa.
• Agriculture Ministers back AfDB call for smallholder farmers’ financing.
• Less than 20% of African smallholder farmers use improved seeds.

The African Development Bank (AfDB) is betting big on Africa’s smallholder farmers—but will this historic financial push be enough to break the cycle of rural poverty? The bank has unveiled plans for a $500 million risk-sharing facility – designated to unlock upto $10 billion in financing for small-scale farmers and agribusinesses across the continent.

Speaking at the High-Level Conference on Scaling Finance for Smallholder Farmers in Nairobi, AfDB President Dr. Akinwumi Adesina revealed that the bank is in final discussions with its Board of Directors to launch the initiative.

If approved, it could mark a turning point for millions of farmers trapped in subsistence agriculture—but skepticism remains. Will this funding reach those who need it most, or will bureaucracy and mismanagement …

• Through various AfDB financing programmes across Africa, a total of 61M people have gained access to clean water since 2015.
• Another 33M people have benefited from improved sanitation while 46M Africans have gained access to ICT services, even as 25M people gained access to electricity.
• Next up for AfDB is the push to connect 300M Africans to electricity by 2030, and measure Africa’s vast green wealth as part of the continent’s GDP.

The African Development Bank (AfDB) positively impacted over 515 million lives over the past 10 years, the lender’s President Dr. Akinwumi Adesina has revealed. While addressing Heads of State and Government at the just concluded 38th session of the African Union Summit, Dr. Adesina said the bank has positively impacted 231 million women during the decade under review.

While sharing his scorecard before the august gathering, Dr. Adesina noted that AfDB‘s initiatives have led to 127 million …

• The trials for the East Africa Electric Highway power supply project are underway.
• This initiative on power sharing is forecast to earn Ethiopia $200 million annually. 
• Currently, Ethiopia produces all power for its national grid from renewable sources.

The East Africa Electric Highway project is lighting up a new era of regional integration, with power supply trials now linking Ethiopia, Kenya, and Tanzania. This ambitious initiative, poised to transform energy trade in the region, is expected to generate an impressive US$200 million annually for Ethiopia in its initial phase.

Following the successful completion of an advanced power connection between Ethiopia and Kenya, the project has extended its reach to Tanzania. With the power infrastructure now in place, distribution trials are underway, marking a significant milestone in East Africa’s quest for sustainable energy solutions and economic collaboration.

“This regional power connection is set to enhance cooperation among the involved nations by …

• Through PPPs, smart financing models, and new policies, Zambia is positioning itself as a leader in renewable energy.
• The government’s commitment to achieving universal electricity access by 2030 underpins Zambia’s solar revolution.
• One of the flagship projects is the 600MW Scaling Solar Zambia, an alliance between the government and the International Finance Corporation (IFC).

Landlocked Zambia is making a spirited push to compete favourably among African economies by tapping the power of solar energy to light up rural homes and drive industry.

With more than 70 per cent of its population living in areas where access to electricity remains a distant dream, Zambia’s solar energy drive is a beacon of hope, offering sustainable and renewable energy solutions to combat energy poverty.

This ambitious initiative is about more than electrifying homes; it’s about transforming lives, driving economic growth, and safeguarding the environment.

Through public-private partnerships, innovative financing models, and policy frameworks, …

• Tanzania has food surplus and is now exporting to neighbours.
• This raises hope that the fight against hunger and malnutrition on the continent is achievable.
• AfDB is now calling for the implementation of Dakar 2 Food Summit commitments.

Tanzania has been recognized for its steady steps to achieve food self-sufficiency attributable to its expanding agricultural industry.

“Tanzania is setting new benchmarks in food self-sufficiency across Africa, raising hope that the fight against hunger and malnutrition on the continent is achievable,” notes the African Development Bank (AfDB) President, Dr. Akinwumi Adesina.

Dr. Adesina made this observation during a high-level session at the World Food Prize Norman E. Borlaug International Dialogue in Iowa, US where he was moderating the talks. He lauded Tanzania President Samia Suluhu Hassan after she announced that her country had reached 128 per cent food security and is now exporting surplus to neighbouring countries.

Speaking during a session …

• AfDB slaps 12-month sanctions on China Railway Construction Engineering Group over scandal involving Tanzania’s Msalato International Airport Project.
• The hit stems from findings by AfDB, which uncovered fraud in the company’s bid for phase one of the airport project.
• However, the firm remains eligible to participate in AfDB-funded projects during the penalty period provided it adheres to strict compliance measures.

The African Development Bank Group (AfDB) has placed China Railway Construction Engineering Group under a 12-month conditional non-debarment following a fraud investigation linked to Tanzania’s Msalato International Airport Project.

This decision, effective from November 7, 2024, stems from findings by AfDB’s Office of Integrity and Anti-Corruption, which uncovered fraudulent practices in the company’s bid for phase one of the project.

The investigation revealed that the Chinese company failed to provide accurate information about its experience during the bidding process, a breach it admitted constituted fraudulent activity.

Despite the sanction, China …

• African countries lag in terms of clean water and sanitation for all investments.
• The World Bank warns that failure to achieve SDG 6 will affect the achievement of most other goals.
• Tanzania was recognized for achievements of the Water Sector Development Program (WSDP) phase three.

Africa is not on track to achieve Sustainable Development Goal Six (SDG 6), which advocates Clean Water and Sanitation for all, yet its achievement would lead to the realization of multiple Sustainable Development Goals (SDGs).

The assertion was made by the African Development Bank Group, Dr. Akinwumi Adesina who noted that failure to achieve SDG 6 will significantly impact the elimination of poverty (SDG 1), zero hunger (SDG 2), good health and well-being (SDG 3), gender equality (SDG 5), clean energy (SDG 7) and decent work and economic growth (SDG 8) as well.

He said that while there are strong relationships between water security and …

• As COP29 starts in Baku, Azerbaijan, African nations are set to drive the climate agenda, focusing on climate finance and redefining economic metrics to recognize the continent’s green assets.
• Africa’s ‘green wealth’ push seeks to quantify Africa’s contributions to global environmental health, valuing its vast carbon sinks, natural resources, and ecosystems.
• This initiative, led by the AfDB in an alliance with the Republic of Congo and Kenya, could reshape Africa’s economic standing.

The annual United Nations climate conference, COP29, opens with a strong emphasis on climate finance, especially for developing nations that bear a disproportionate burden of climate change impacts.

At the forefront, African nations are pushing for increased funding and support, which is essential to advancing their National Adaptation Plans and Nationally Determined Contributions as outlined in the Paris Agreement.

This year, Africa, represented by the African Development Bank (AfDB) and a coalition of governments, is …

• Sudan has stepped forward, increasing its pledge to $3 million in the African Development Fund.
• Sudan’s pledge aligns it with other African nations, which have each committed to raise at least $1 million to the fund by 2025.
• With backing from The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its key projects is strengthening.

African nations are coming together to secure a $25 billion replenishment for the African Development Fund (ADF), an ambitious target that signals a continent-wide push toward self-driven financing for projects.

In the latest update, Sudan has stepped forward, increasing its pledge to $3 million in this collective movement. With backing from countries including The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its development projects is strengthening.

As governments, led by the African Development Bank (AfDB), advocate for this replenishment, they set a critical precedent for financial autonomy in achieving Africa’s …

• The AfDB has partnered with payments giant Mastercard and committed $300 million to MADE Alliance in a deal aimed at digitalizing farmers in Africa.
• Over three million farmers in East Africa are projected to benefit from the MADE Alliance project.
• Overall, MADE Alliance will provide digital access for 100 million people over the next decade.

A new initiative dubbed MADE Alliance, has set out to mobilizing resources in an effort to digitize farmers and their operations across Africa as the shift towards digital economy gathers pace.

In a deal being powered by the African Development Bank (AfDB) Group in partnership with digital payments giant, Mastercard, MADE Alliance, will see upto 300,000 farmers across East Africa benefit from the programme.

The project was launched on the sidelines of the 79th session of the United Nations General Assembly in September this year by the president of the AfDB, Dr. Akinwumi A. …