News

AfDB to double Africa’s climate finance to $25bn

The African Development Bank (AfDB) says it will within the next five years double the climate change finance of Africa to 25 billion dollars. AfDB Vice-President for Power, Energy, Climate and Green Growth, Dr Kevin Kariuki, said this at a virtual news conference yesterday in preparation for the bank’s 2022 annual meetings to be held […]

Business

AfDB: TAAT aims to raise Africa’s food production by 100mmt yearly

Technologies for African Agricultural Transformation (TAAT), a flagship programme from the African Development Bank (AfDB), has hosted its maiden edition of TAAT investors forum in African agriculture, targeted at boosting food production and sufficiency in the continent. The investors forum, held virtually in Abidjan, Cote D’ Ivoire, recently, was aimed at connecting innovative agricultural technologies […]

Business

AfDB approves $7.3m for jobs, skills

The African Development Bank (AfDB) has said that the eight approved project proposals for its “Jobs for Youth in Africa Strategy,” will receive grant funding of more than $7.3 million to operationalize their activities, creating several new enterprises and an estimated 20,000 jobs for youth across the continent. In a statement the AfDB said that […]

Business

AfDB to invest $3bn in Africa’s healthcare sector

The African Development Bank (AfDB) will invest up to $3 billion over the next 30 years to advance the manufacture of pharmaceuticals and the development of healthcare infrastructure across the continent, the bank’s Group Vice President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor, has said. He stated this during a panel discussion at the […]

Business

Entrepreneurship is critical to Africa’s transformation –AfDB

Bank (AfDB) has said entrepreneurship must be at the heart of efforts to transform Africa’s economic prospects. The statement is contained in the Bank’s White Paper for June 2021 titled: “Entrepreneurship and Free Trade: Africa’s Catalysts for a New Era of Economic Prosperity.” The paper posits the Covid-19 crisis has triggered shifts that open up […]

Business

AfDB wants $5bn mobilised to tackle youth unemployment

African Development Bank (AfDB) has called for the support of African public development banks towards the Affirmative Finance Action for Women in Africa (AFAWA) as well as tackling youth unemployment on the continent. President of AfDB, Dr Akinwumi Adesina, made the call at the virtual Finance in Common Spring meeting. The meeting was convened in […]

Business

Startups: FG seeks AfDB’s support for $500m innovation fund

The Federal Government has said it is currently engaging with the African Development Bank (AfDB) to set up a $500 million Innovation Fund. This, government said, would provide support for the tech startup ecosystem across four pillars, which include infrastructure support, finance, skills development and technical assistance. The Vice President, Professor Yemi Osibanjo, who disclosed […]

Business

Alleged fraud: AfDB bars Nigerian firm for 3 years

The African Development Bank Group (AfDB) yesterday announced the debarment of a Nigerian consulting organisation, Maxicare Nig. Ltd, for three years over alleged fraud in a road project to connect the north-west region of Cameroon with Nigeria. Inastatementonitswebsite, the bank said the debarment took effect from February 23, 2021. AfDBsaiditsofficeof integrityandanti- corruptionconducted an investigation, which […]

Business

AfDB launches second phase of WACMI project

The African Development Bank (AfDB) has launched the second phase of West African Capital Markets Integration (WACMI) Project to establish a common securities listing and trading platform across West African bourses, according to a statement posted on the lender’s website. The statement said: “In December 2020, WACMI received a grant of $850,000 from the Capital […]

Business

Poultry: AfDB sponsored scheme unlocks Nigerian youths’ potential

As Nigeria continues in its stride to boost potential in agric value chain, a team of youth agripreneurs trained by the Empowering Novel Agribusinessled Employment (ENABLETAAT) programme recorded a gross profit of over ₦1 million— about $2,580—in 8 weeks. Africa Business Community reports that they got a return on investment of about 45 per cent […]

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