AfDB, CoDA launch $5.9m project to tackle illicit financial flows

The African Development Bank (AfDB) and the Coalition for Dialogue on Africa (CoDA) have officially launched a three-year support project to improve regional coherent and coordinated response to illicit financial flows. According to a press release, the project, known as the African Financial Integrity and Accountability Support Project (AFIAP), will help African stakeholders actively engaged […]


Africa gets $50bn int’l support to transform agriculture – AfDB

Africa’s drive to transform its agriculture and become a food basket continues to receive strong global support, with development partners agreeing to commit more than $50 billion to the plan, barely two months after its launch. Development partners have agreed to commit more than $50 billion to Africa’s drive to transform its agricultural sector and […]


AfDB, Canada launch agri-food SME catalytic financing mechanism

To help Africa’s Small and Medium-sized Enterprises (SMEs) in the agricultural sector, the African Development Bank Group and the Canadian Government recently established the Agri-food SME Catalytic Financing Mechanism. This new agricultural development was made known by the organisations at a press briefing during the Dakar 2 Africa Food Summit. The “Agri-food SME Catalytic Financing […]


Buhari hails $538.05m provision to Nigeria for special agro-processing zones by AfDB, others

President Muhammadu Buhari has welcomed the provision of $538.05 million by the African Development Bank, the Islamic Development Bank and the International Fund for Agricultural Development (IFAD) for the first phase of the Special Agro-Industrial Processing Zones (SAPZ) for Nigeria programme. Buhari made the disclosure yesterday in his goodwill message to the Feed Africa Summit […]


AfDB, African Union Commission hold session on driving devt

The African Development Bank Group (AfDB) and the African Union Commission (AUC) have concluded a technical session on how to conduct an upcoming joint study on driving development in Africa. According to a press release, the goal of the study, titled, “Key Actions to Drive Inclusive Growth and Sustainable Development in Africa”, is to identify […]


Unemployment could worsen Africa’s social, political fragility – AfDB warns

The President of African Development Bank (AfDB), Dr. Akinwunmi Adesina, yesterday called on African countries to improve access to quality education by adequately funding the sector to reduce youth unemployment in the continent. Adesina also warned that the high unemployment rate in Africa if not checked could worsen the social and political fragility of the […]


Nigeria, other African nations got $95.6bn Diaspora remittances in 2021–AfDB

The African Development Bank (AfDB) President, Akinwumi Adesina, has highlighted the importance of Africans in the diaspora to the continent’s economic growth. Adesina, who spoke at the Global Community of Practice (G-COP) policy dialogue hosted by the bank in Abidjan, said: “The value of remittances from the African diaspora doubled from $37 billion in 2010 […]

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AfDB’s portfolios in Nigeria gross $4.5bn in 53 operations

The total portfolio of African Development Bank (AfDB) in Nigeria netted $4.5 billion in 53 operations. The figure is made up of 30 sovereign operations with networthof $2.7billionrepresenting 60 per cent total commitments. In addition, the bank has 22 non-sovereign operations valued at $1.8 billion. In terms of mapping the bank’s high five strategic priorities […]