Browsing: The African Development Bank (AfDB)

• The AfDB and the African Guarantee Fund have unveiled a fresh plan to enhance the financial inclusion of women in Nigeria’s economy.
• The duo have opened the AFAWA Finance Series Nigeria, part of the AfDB’s Affirmative Finance Action for Women in Africa (AFAWA) initiative.
• AFAWA Finance Series Nigeria will explore ways of enhancing the regulatory frameworks that can boost access to finance for women entrepreneurs.

Africa has the highest number of female entrepreneurs across the globe. However, the biggest obstacle they encounter is limited access to finance. Although access to financing poses a challenge to all small and medium enterprises, women-owned businesses are notably at a disadvantage.

It is estimated that the financial gap facing women entrepreneurs may reach up to $50 billion. This can be attributed to several factors, including deep-rooted social and cultural norms. These norms have historically restricted women’s ownership rights of assets that could serve as …

• The AFDB is collaborating with Google to advance the continent’s tech usage in business.
• Both parties will harness emerging technologies, extend and improve infrastructure, train talent and skill required within Africa.
• In 2005, Google invested in Seacom Cable, a major telecommunications cable system in Africa.

The digital era, or the fourth industrial revolution, is upon us, and small businesses in Africa could be among the top beneficiaries. Organizations from across the globe are collaborating to provide the necessary financial support and infrastructure to aid in Africa’s tech journey.

Amid this plethora of investors, the African Development Bank (AfDB) has pioneered significant milestones with the continent’s tech journey. In its latest milestones, the AFDB bank has collaborated with Google to speed up Africa’s digital transformation.

The African Development Bank partners with Google

Recently, the AFDB bank officially collaborated with Google to advance the continent’s tech enterprise in businesses. Both parties signed …

• The event has been postponed over the new COVID-19 variant, Omicron.
• This marks the second year running that the vital investment forum has been disrupted due to the coronavirus, with last year’s event cancelled.
• This year’s Africa Investment Forum was meant to showcase118 deals in its pipeline from all eight founding members.

The African Development Bank (AfDB) has postponed the 2021 Africa Investment Forum (AIF) until further notice.

Delegates had already started preparations to travel to Abidjan for the event that had been slated for December 1, 2021.

The event has been postponed over the new COVID-19 variant, Omicron.

What is Omicron?

The heavily mutated Omicron variant was first detected in South Africa on Nov. 25, with the first cases identified in neighbouring Botswana and later cases reported in Tshwane, the municipality in which Pretoria is located.

According to the World Health Organization (WHO), the new variant is likely to …

The African Development Bank and partners officially launched Affirmative Finance Action for Women in Africa (AFAWA) Risk Sharing Facility earlier this week at a press conference held during the 2019 Global Gender Summit in Kigali, Rwanda.

The bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme started with significant support from commercial banks and a $1 million commitment from the government of Rwanda.

AFAWA is one of the Bank’s gender-focused programmes which seeks to close the financial gap for women by accelerating growth and employment creation across African economies.

“Today is a great day! With this facility, women will be able to receive technical assistance. We shall strengthen our capacity and we shall get there. The decision that we are taking today is highly transformational. It will permanently transform Africa.” said Akinwumi Adesina, President of the African Development Bank.

The press conference was attended by several heads of commercial …