Browsing: AfDB

Meanwhile, Africa is looking to take pre-emptive action to avert the inevitable food crisis.

The United States has pledged support to help the continent grow and distribute more food. The aid will come through the African Development Bank (AfDB). The Bank is looking to fund a significant increase in food production in an effort to ward off the food crisis wrought by the Russia-Ukraine war.

In May this year, the AfDB set up a US$1.5 billion African Emergency Food Production Facility. It was established with the aim of supporting some 20 million smallholder farmers produce more food and to do so more sustainably.…

Senegal’s President Macky Sall claimed Japanese firms have the technical and financial capacity to establish up partnerships in Africa while Moussa Faki Mahamat, who is the African Union Commission chair praised Japan’s education and training achievements. He lauded a Japanese effort that taught nutrition to 1,000 young Africans.

African countries would need major financial resources to deal with Covid-19, climate change, and Russia’s war in Ukraine said the African Development Bank chief.

“Now is the time to assist the African Adaptation Acceleration Program to mobilize $25 billion for climate adaptation in Africa,” Adesina added.

AfDB’s African Emergency Food Production Facility, started in May 2022, is providing US$1.13 billion to 24 nations for emergency food production. The Bank approved the facility early in 2022 to prevent the Ukraine war’s food and fertilizer disaster.…

• Africa received its highest proportion of private sector investment in infrastructure in 2020 
• African Development Bank has revealed that the greater private sector investment came as most governments contended with the Covid-19 pandemic and limited fiscal space 
• Private sector investment in Africa’s infrastructure rose to $19 billion in 2020, representing 23 per cent, the highest since 2016

A new finding by the African Development Bank has revealed that the continent of Africa received its highest proportion of private sector investment in infrastructure in 2020.

The bank’s Vice President for the Private Sector, Infrastructure and Industrialization, Solomon Quaynor said the finding sends an important signal to governments and investors.

Quaynor said the greater private sector investment came as most African governments contended with the Covid-19 pandemic, limited fiscal space and high debt-to-GDP ratios.

He noted that private sector investment into Africa’s infrastructure rose to $19 billion in 2020, representing 23 per …

Reallocation of government financing is essential in unlocking infrastructure potential. It eliminates the crowding out of private-sector funding, as government investing in most commercially viable assets is crucial to those with lower returns (Mckinsey). 

Tanzania is one of the nations that leverages its internal revenue to fund its projects, including iconic bridges in the nation’s commercial capital and several roads, buildings and facilities across the country.  

Kenya is another excellent example of a solution offered by Mckinsey as the government prioritised investment in municipal infrastructure as part of a drive to provide 500,000 new affordable housing units in five years.  

Ethiopia is moving similarly, whereby it has prioritised investment in industrial development zones to attract global apparel manufacturers.  …

In September last year, the government started making quarterly token payments of $100,000 to each of the 16 Paris Club creditors as it sought ways to extinguish the mounting debt.

As of the end of May, Zimbabwe had made $8 million in token payments to multilateral banks and $4.8 million to the Paris Club creditors.

The article added that Zimbabwe is already defaulting on active loans from China, which is affecting the disbursement of funds for ongoing projects, the debt management office said in the report.…

• South Sudan will receive $8.1million from the African Development Bank (AfDB) to address food
• The funds will support South Sudan’s Emergency Food Production Programme
• The Emergency Food Production Programme targets an additional 600,000 of the most vulnerable groups in five states, where recent severe flooding has affected thousands of households

South Sudan is the latest East African country to receive millions from the African Development Bank (AfDB) to address food insecurity.

The country received an $8.1 million grant from AfDB to fund its Emergency Food Production Programme.

Allocated through the Transition Support Facility, the grant makes up additional financing for the ongoing Agricultural Markets, Value Addition and Trade Development Project (AMVAT).

AMVAT seeks to contribute to reduced food insecurity, poverty reduction, economic growth and building of community and household resilience and social cohesion.

Exacerbated by climate hazards, the threat of a food crisis has long loomed over South Sudan, which …

The African Development Bank (AfDB)’s Board of Directors has approved the establishment of the African Pharmaceutical Technology Foundation, a new ground-breaking institution that will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products.

Africa has great potential for drug discovery. The continent has natural resources, indigenous knowledge, and human capacity

AfDB Group President, Dr. Akinwumi Adesina said: “This is a great development for Africa. Africa must have a health defence system, which must include three major areas: revamping Africa’s pharmaceutical industry, building Africa’s vaccine manufacturing capacity, and building Africa’s quality healthcare infrastructure.”

The World Trade Organization and the World Health Organization, respectively, also welcomed and lauded the AfDB’s decision to establish the African Pharmaceutical Technology Foundation.…

Africans and African diaspora across the world commemorated Africa Day on May 25, 2022.

The day truly serves to integrate the diverse continent into one identity. This year bears extra importance as it is also the 20th anniversary of the African Union (AU). The theme for this year was “Strengthening Resilience in Nutrition and Food Security on the African Continent”.

Yet, the celebration was tarnished by rising food prices as a result of Covid-19, climate-induced drought in parts of Africa, and the Ukraine crisis, according to Hindustan Times.

According to an article by Hindustan Times published on June 17, 2022, Africa Day is to commemorate May 25, 1963, when 30 independent African leaders signed the founding charter of the OAU (Organization of African Unity). Later to give more impetus to the organisation, many new areas were added and it was transformed into African Union (AU).

Yearly, the AU decides a …

The economies of African countries’ are dominated by agriculture and the continent’s growth relies heavily on the performance of the sector. However, climate change is a threat to agrarian operations and one of the biggest challenges to food security systems in Africa.

Russia’s invasion of Ukraine has yielded devastating effects exhibited by acute food and commodity shortages the world over. This has ratcheted pressure on Africa as a continent to rely on its produce by using climate-smart techniques. Africa imported a range of agricultural products worth US$6.9 billion from Russia and Ukraine in 2020.

According to the World Bank, more and more African countries are realizing that the development, promotion, and adoption of climate-smart technologies, implementation of the right enabling policies, and development of relevant skills in Africa’s food system workforce are among the game-changers that can truly make a difference.

“Agriculture is a victim of climate change but also …

Last year, the Board of Directors of the African Development Fund (AfDB) approved another loan of around $116 million to Tanzania for the upgrade of a 160-km road corridor in the southern part of the country.

This enormous funding by the Bank actually served to cover 98.71% of the project cost; while the remaining 1.29% was met by the government of Tanzania. It is expected that the AfDB will continue funding Tanzania’s road works and other transport infrastructure especially given the country’s strategic geographical location.

Tanzania is the gateway into Africa’s interior and it is also the way out to the rest of the world via the Indian Ocean.

In Tanzania, it is the Tanzania National Roads Agency (TANROADS) is responsible for the improvement of road maintenance and development. The Agency is responsible for the management of 35,000 Km of roads made up of 12,786 Km of trunk roads and …