Inside Africa

AfDB to Make $30million Equity Investment in AFC to Catalyse Climate Action The African Development Bank’s Board of Directors has approved a $30 million equity investment in Africa Finance Corporation (AFC) for the rollout of innovative "green shares” aimed at mobilising resources for climate action projects across Africa. The innovative financial...

Africa Needs $74bn Debt Service - AfDB Chief Economist Prof. Kevin Urama, Chief Economist and Vice President, Economic Governance and Knowledge Management, African Development Bank (AfDB), says the continent needs 74 billion dollars in 2024 for debt service. Urama disclosed this at the launch of the Debt Management Forum for Africa...

AfDB to Launch Debt Management Forum for Africa The African Development Bank (AfDB) group is to launch the Debt Management Forum for Africa (DeMFA). DeMFA is a new platform aimed at promoting high-level dialogue on debt productivity and sustainability across the continent. A statement by the bank on Sunday added that...

ECOWAS Issues Deadline to Bukina Faso, Mali, Niger The authority of ECOWAS heads of state and government on Sunday set Jan. 29, 2025 to July 29, 2025 as a transitional period to keep ECOWAS doors open to Burkina Faso, Republic of Mali and the Republic of Niger. Dr Omar Touray, President...

Angola's long-term foreign-currency issuer default rating (IDR) of "B-" with a stable outlook has been confirmed by Fitch Ratings.

Standard Bank Group Obtains $200m, ZAR 3.6bn Facilities from AfDB Standard Bank Group has obtained two facilities, $200 million and ZAR 3.6 billion, from the African Development Bank (AfDB) following a board of directors approval, the regional lender said in a statement. According to AfDB, the two financial facilities for...

IMF Disburses $10m Loan to Somalia for Economic Reforms The International Monetary Fund (IMF) has approved the disbursement of 10 million dollars to Somalia to boost the country’s economic reforms. IMF in a statement said that the latest funding “brings Somalia’s total disbursement under the current programme, originally approved in Dec....

Africa Requires $200bn Yearly for Energy, Climate Goals – NLNG Mr Philip Mshelbila, Managing Director of Nigeria Liquefied Natural Gas (LNG) Ltd., says Africa’s energy sector needs over 200 billion dollars in annual investments to meet its energy and climate goals. Mshelbila spoke at the networking session reception, hosted by Nigeria...

AfDB Advocates Structural Solutions to Tackle Africa’s Economic Challenges The African Development Bank (AfDB) has called for urgent structural reforms to tackle Africa’s deepening economic challenges, including currency depreciation, rising inflation, and an escalating import bill. The AfDB’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama said that global...

AIF 2024 Closes with $180bn in Investments, Renewed Commitment Dr Akinwumi Adesina, President of the African Development Bank Group, on Friday delivered a touching keynote speech at the closing ceremony of the Africa Investment Forum 2024 Market Days. The event, held in Rabat, Morocco, marked his final attendance as President of...