Browsing: Africa Development Bank

• Over 283 million Africans experience hunger daily, and millions suffer from malnutrition, a crisis that demands attention
• Tanzania’s Samia Suluhu urges African leaders to prioritize the agriculture sector and align it with the 2014 Malabo Declaration.
• Kenya’s William Ruto says the adoption of technology, including online distribution of fertilizer, is transforming agriculture.

Africa faces a pivotal moment where challenges looming on its doorstep can be transformed into opportunities to revamp and reshape its agriculture policies and strategies.

President Samia Suluhu Hassan emphasized this during the Africa Food Systems Summit 2023, held in Dar es Salaam from September 5-8.

Dr Samia urged African leaders to prioritize the agriculture sector, aligning their goals with current economic needs and the Malabo Declaration 2014, which calls for increased agriculture budgets and inclusive growth.

Over 283 million Africans experience hunger daily, and millions suffer from malnutrition, a crisis that demands attention. President Samia implored fellow …

• USAID is committing $3 million in funding for water and sanitation investment projects in Africa.
• The financing through African Water Facility (AWF) will be in grants and technical assistance to African countries.
• AWF assists African nations in achieving the goals and targets outlined by the African Water Vision 2025.

The African Water Facility (AWF) has received a $3 million commitment from the United States Agency for International Development (USAID). The financing will facilitate the planning of water and sanitation investment projects in Africa. Financing will be through grants and technical help to African nations and regional economic groups.

Housed by the African Development Bank, the African Water Facility was launched by the African Ministers Council on Water. It is the first institution in Africa fully dedicated to addressing water and sanitation challenges.

AWF assists African nations in achieving the goals and targets outlined by the African …

Constructed under the East African Community regional development project, the road is key to the much aspired regional integration and opens doors to the ports for Africa’s landlocked countries like Uganda, Rwanda and the DRC.

Owing to its importance, the African Development Bank and the Japan International Cooperation Agency (Jica) are among the project funders as well as the Tanzanian government itself through its own internal revenue.

Complete with spar roads, the highway will open up enormous economic potential of each region it passes. On the other side of the border, the Kenyan government has also begun work on the connecting 40km project Mtwapa-Kilifi Road, part of the overall 460km Malindi-Tanga-Bagamoyo East African corridor development project.…

There is need to rebrand Africa, to give it a better, truer image or in the words of the President for the African Development Bank (AfDB)) Dr Akinwumi A. Adesina to change the narrative on Africa to attract increased investments into the continent.

Granted the head of AfDB specified the Africa rebranding be specific for the USA but the idea stands true in general, the World needs to see Africa differently. The assertion comes ahead of the upcoming “Africa Investment Forum 2021.’

To be held this December (1-3), the event is one of the biggest flagship initiatives of the African Development Bank that is designed to attract billions of dollars in investment for strategic development projects across the continent.

“The annual forum has come to be an invaluable platform during which the Bank successfully attracts critical investment for the continent’s infrastructure, agriculture and health care system needs among others, especially …

The Infrastructure Consortium for Africa (ICA), the bilateral organisations housed by Africa Development Bank and drawing membership from the G8 countries (Canada, France, Germany, Italy, Japan, Russia, the UK and the US) has released a new report that shows a significant increase in financial commitments for infrastructural development in Africa.

Among the key findings of the report was an increase in financing commitments across all sectors, with a notable increase in the energy sector, which attracted financing commitments worth $43.8 billion, an all-time high and a 67% increase on the 2015-2017 average. The ICT sector also saw record commitments in 2018 of $7.1 billion, mostly from the private sector.

 the ICA’s Infrastructure Financing Trends in Africa 2018 report shows that financing of infrastructure in Africa reached a new high of $100.8 billion in 2018, a jump of about a quarter on 2017 and 38% up on the 2015-2017 average.

Mike …

AfricInvest, a leading pan-African private equity firm, has announced the fourth close of Financial Inclusion Vehicle (FIVE), an evergreen platform for investing in financial institutions in Africa.Through its investments, FIVE aims to improve access to financial services for the growing African population, while achieving attractive financial returns for its investors.

AfDB, the African Development Bank, joined the capital of FIVE alongside existing investors FMO and BIO both development finance institutions of the Netherlands and Belgium, respectively; Norfund, the Norwegian investment fund for developing countries; IFU, the Danish investment fund for developing countries; KfW, the German government-owned development bank and CBK Pension Fund, the pension fund of the Central Bank of Kenya.

As the current level of banking penetration on the continent is a mere 20%, achieving universal access will require a fivefold increase. Digital transformation is one of the key drivers toward the universal access and as such, FIVE seeks …