Browsing: AfDB

• Among the hardest hit countries by US tariffs are Lesotho, Madagascar, Mauritius, Botswana, Angola, Algeria, and South Africa.
• Across Africa, at least 22 nations are facing up to a whopping 50 per cent US tariffs for almost all their products.
• AfDB boss warns 47 out of Africa’s 54 nations stand to suffer direct blows from US tariffs, potentially shrinking export earnings and draining vital forex.

As the clang of new US tariffs reverberates across global markets, Africa finds itself bracing for a storm not of its own making. In an era where trade walls are rising instead of falling, African economies—many still finding their footing in a post-pandemic world—may soon feel the weight of protectionist policies emanating from Washington.

Speaking to CNN’s Christiane Amanpour, African Development Bank (AfDB) President Dr. Akinwumi Adesina painted a sobering picture: 47 out of Africa’s 54 nations stand to suffer direct blows from the …

• Mattei Plan seeks to mobilize investments to tackle hunger, scale up agricultural output, and reduce the drivers of forced migration by investing in climate-aligned infrastructure.
• Central to Mattei Plan is the $170 billion Rome Process/Mattei Plan Financing Facility (RPFF), a multi-donor special fund designed to support infrastructure projects aligned with climate goals.
• The deal also seeks to inject up to €400 million into private equity funds over the next five years.

Italy is increasingly positioning itself as an important player in Africa’s development journey with the rollout of the Mattei Plan—a bold initiative aimed at catalyzing economic transformation across the continent.

Named after Enrico Mattei, the visionary founder of Italy’s national oil company ENI who championed equitable North-South cooperation, the Mattei Plan represents a reimagined partnership model that prioritizes shared prosperity, sustainable development, and strategic collaboration.

At the heart of this initiative is the African Development Bank (AfDB), which Italy …

• Is the African Continental Free Trade Area (AfCFTA) serving only large but capital-strapped businesses?
• How can startups and SMEs benefit from the continental trade bloc?
• In Tanzania, an alliance of the AfDB and BOAT is set to offer credit guarantee to  SMEs keen on continental trade and expansion.

The African Continental Free Trade Area (AfCFTA) is the world’s largest free trade area by number of participating countries, second only to the World Trade Organization (WTO). Given it’s size and scope, the AfCFTA has the potential to bolster small business growth across the country and continent, comments economist Prof. Odiop Massaza.

The economics, however, raises a key question; ” Does this facility (AfCFTA) actually help small businesses grow or are the big ventures enjoying the benefits alone?” Prof. Massaza was speaking in a recent exclusive interview with The Exchange following the launch of a credit facility by the  African Development Bank …

• The AfDB and ECOWAS have signed a $11.78 million grant to boost rice production across West Africa, aiming to reduce the region’s reliance on costly imports and enhance food security.
• The five-year REWARD-ECOWAS project will support policy reforms, input regulation, and digital monitoring to strengthen regional rice value chains.
• This initiative aligns with broader strategies to increase agricultural productivity and build resilience against global market shocks.

Commercial rice production is at the centre of the African Development Bank’s renewed push for food security in Africa, following the signing of a $11.78 million financing agreement with the Economic Community of West African States (ECOWAS) Commission.

The agreement includes a $11.78 million grant from AfDB to bolster rice production across West Africa. ECOWAS will co-finance the initiative with $1.18 million, underlining the region’s shared goal of reducing reliance on costly rice imports.

“Increases in rice production will help ensure food security and …

• 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 …

• 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 …