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African Development Bank Group (AfDB)

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    • Bank Executive Director Rufus Darkortey (right) welcoming Ambassador El Gayly Mohamed Abdelhamid, Sudanese Chargé d’Affaires to Cote d’Ivoire
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Source: African Development Bank Group (AfDB) |

African Development Bank Executive Director and Sudanese Envoy Discuss Crucial Support Amid Ongoing Conflict

The meeting between Ambassador Abdelhamid and Mr. Darkortey signifies a collaborative effort between the African Development Bank and Sudan to address challenges and pave the way for a more resilient future for the country

Ambassador El Gayly Mohamed Abdelhamid, Sudanese Chargé d’Affaires to Cote d’Ivoire, recently paid a courtesy visit to Mr. Rufus N. Darkortey, Executive Director for Sudan at the African Development Bank (www.AfDB.org). The meeting, held on April 4, 2024, at the African Development Bank’s headquarters in Abidjan, focused on collaborative efforts…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Rwanda: African Development Fund to provide a partial credit guarantee to support the financing of green and sustainable initiatives

This is in line with Rwanda’s National Strategy for Transformation (NST-1) for 2017-2024 and Vision 2050

The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group (www.AfDB.org), has approved a partial credit guarantee to support Rwanda’s mobilisation of financing to implement green and social initiatives. The Partial credit guarantee for mobilisation of sustainable financing for Rwanda project…

Parliament of the Republic of Uganda
Source: Parliament of the Republic of Uganda |

Uganda - Speaker to Members of Parliament (MPs): Monitor Shs93 billion release for district roads

The Government Chief Whip, Hon. Denis Hamson Obua, confirmed the release, which he said comes on the backdrop of complaints on the state of mainly feeder roads

Speaker of Parliament, Anita Among, has announced the release of about Shs93 billion to districts, cities and municipalities across the country, being the final payment from the Uganda Road Fund for this financial year. Broken down, each of the 135 districts, 11 cities and 41 municaplities will receive Shs500 million.…

Parliament of the Republic of Uganda
Source: Parliament of the Republic of Uganda |

Uganda: Parliament commits Shs1 billion for cancer centre as Speaker Among launches Rotary Cancer Run 2024

The commitment was made by the Speaker of Parliament, Anita Among, as she launched the 2024 edition of the Annual Rotary Cancer Run at the hospital on Wednesday, 24 April 2024

Parliament has committed to contribute Shs1 billion towards the completion of the radiotherapy centre at St. Francis Nsambya Hospital in the capital, Kampala. The commitment was made by the Speaker of Parliament, Anita Among, as she launched the 2024 edition of the Annual Rotary Cancer Run at the hospital on…

United Nations High Commissioner for Refugees (UNHCR)
Source: United Nations High Commissioner for Refugees (UNHCR) |

United Nations High Commissioner for Refugees (UNHCR) launches fund to shield refugees and other displaced people from climate shocks

As part of its work to protect and assist more than 114 million people who have been forced to flee, UNHCR already seeks to build people’s resilience and reduce their vulnerability to risks, including the impact of climate change

UNHCR, the UN Refugee Agency, today launched the UNHCR Climate Resilience Fund, seeking to boost the protection of refugees and displaced communities who are most threatened by climate change. As part of its work to protect and assist more than 114 million people who have been forced to flee, UNHCR already…

African Development Bank Group (AfDB)

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    • The Bank played a key role in linking Cameroon and Nigeria through the Bamenda-Enugu road construction project
    • The building of the Cross River bridge, opened in October 2022
    • Marie-Laure Akin-Olugbade, the African Development Bank’s Vice-President for the Regional Development, Integration and Business Delivery Complex, meets with Joseph Dion Ngute, Prime Minister of Cameroon
    • Marie-Laure Akin-Olugbade, the African Development Bank’s Vice-President for the Regional Development, Integration and Business Delivery Complex, met Alamine Ousmane Mey, Cameroon’s Minister of Economy, Planning and Regional Development
    • Louis-Paul Motaze, Finance Minister
    • Meeting with Cameroon's principal technical and financial partners
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Source: African Development Bank Group (AfDB) |

Cameroon: The African Development Bank, a leading infrastructure partner

“The Bank's operations have changed the face of the region” – Cameroonian minister

In an era of transformative development, the African Development Bank Group (www.AfDB.org) stands as a beacon of progress in Central Africa, particularly in Cameroon, where the institution has earmarked more than 50 percent of its portfolio for funding transport infrastructure. The Bank spearheaded crucial projects such as the Ketta-Djoum Road,…

African Development Bank Group (AfDB)

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    • Dr Akinwumi Adesina (right) warns of the impact of non-transparent resource-backed loans on Africa's debt burden. Semafor Summit, Washington DC April 2024 (1)
    • Dr Akinwumi Adesina (right) warns of the impact of non-transparent resource-backed loans on Africa's debt burden. Semafor Summit, Washington DC April 2024 (2)
    • Dr Akinwumi Adesina (right) warns of the impact of non-transparent resource-backed loans on Africa's debt burden. Semafor Summit, Washington DC April 2024 (3)
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Source: African Development Bank Group (AfDB) |

Africa's $824 billion debt burden and opaque resource-backed loans hinder its potential, African Development Bank President warns

The continent would pay $74 billion in debt service payments this year alone, a sharp increase from $17 billion in 2010

Africa's immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries' future growth, African Development Bank President Akinwumi Adesina (www.AfDB.org) said on Thursday. "I think it's time for us to have debt transparency accountability and make sure that this whole thing of these…

PalmPay
Source: PalmPay |

PalmPay is recognised by the GSMA as a key contributor to the growth of the African Mobile Money industry in State of the Industry Report

In the report, GSMA praised PalmPay as a “prominent non-MNO-led mobile money provider with a significant market share in Nigeria” and a top driver of financial inclusion in Africa’s $912 billion mobile money industry

PalmPay (www.PalmPay.com), a leading pan-African fintech, has been highlighted by the GSMA in the recently released ‘The State of the Industry Report on Mobile Money 2024’  as a key player driving the adoption of mobile money in Nigeria. In the report, GSMA praised PalmPay as a “prominent non-MNO-led mobile money provider…

United Nations Economic Commission for Africa (ECA)
Source: United Nations Economic Commission for Africa (ECA) |

Strong calls for innovative financing and reform of the international financial system to achieve the Sustainable Development Goals in Africa

At least $500 billion a year is needed to scale up affordable long-term financing for development, alongside structural reforms

In a strong call to stakeholders at the opening of the tenth Africa Regional Forum on Sustainable Development (ARFSD-10) in Addis Ababa, Ethiopia, Amina Mohammed, UN Deputy Secretary-General said urgent action is needed to increase capital flows into developing countries, particularly in Africa to make the SDGs stimulus a reality.…

The Presidency, Republic of Ghana
Source: The Presidency, Republic of Ghana |

State Ownership Report Delays Must Cease – President Akufo-Addo Cautions State-Owned Enterprises (SOEs)

The reports, give government and the public access to information on public enterprises' financial and non-financial performances

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has charged heads and officials of state-owned enterprises to adhere strictly to the submission timelines instituted by the State Interests and Governance Authority on the preparation and further publication of State Ownership Reports. “As a follow-up to this directive, I expect…