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African Development Bank Approves $324 Million For Renewable Energy Projects In Morocco & Côte d’Ivoire

The African Development Bank announced this week that it has approved $324 million in loan support for two renewable energy projects in Morocco and Côte d’Ivoire that are expected to dramatically increase power supply in the African countries and keep their economic growth on track. 

Senegal: Details on Dakar’s Urban Rail Project

Bloomberg: Senegal closed finance arrangements for a $1 billion urban rail project for its capital after finalizing an agreement with the African Development Bank. The AfDB agreed to offer 120 billion CFA francs ($212 million) for the project that will … Continue reading ?

Akinwumi Adesina: “My job as President of the African Development Bank is to put Africa first.”

Anne-Sophie Garrigou, journalist at The Beam, met with Akinwumi Adesina. Together, they talked about the challenges of the off-grid sector in Africa and the development of renewable energy, as well as the impact of Trump’s politicalShow More Summary

African Development Bank to Fund Lamu Port

Efforts by the government to attract investors to help build 29 berths at the proposed Lamu port has received a boost from African Development Bank, said a report in The Star, Kenya. The port has received a $1.9 million grant to cater for advisory…

African Development Bank Issues Green Bonds Worth $134 Million

The African Development Bank issued green bonds worth SEK 1.25 billion ($134 million). This was the first green bonds issue by the Bank this year, the fifth overall and the third in Swedish Krona African Development Bank Issues Green...Show More Summary

AFDB Backs Rx Healthcare Fund with USD20m

Africa Assets reports: The African Development Bank (AfDB) will back Rx Healthcare Fund (RxHF) with USD20m and take a seat on the fund’s advisory board. RxHF is led by Egypt’s former health minister Hatem El Gabaly and managed by EFG Hermes Private Equity. Show More Summary

African American Economic Inequality: A Twenty First Century Challenge

This piece was originally published in the book "What It's Worth" created by the Federal Reserve Bank of San Francisco and the Corporation for Enterprise Development. Depressed living standards for Negroes are not simply the consequences of neglect. Show More Summary

African press review 27 September 2016

 Recession-hit Nigeria contracts a budget serving loan of one billion dollars from the African Development Bank while  the #FeesMustFall Campaign turns violent in South Africa.

What is wrong with African cities?

In Africa this process seems not to work as well. According to one 2007 study of 90 developing countries, Africa is the only region where urbanisation is not correlated with poverty reduction. The World Bank says that African cities “cannot be characterised as economically dense, connected, and liveable. Show More Summary

Pitch AgriHack 2016 is Open To Caribbean Tech Startups Focused on Agriculture Can

The Technical Centre for Agricultural and Rural Cooperation ACP-EU (CTA), in collaboration with the African Development Bank (AfDB) and the support of partners including the Centre for Agricultural Bioscience International (CABI) and mLab East Africa, is launching the pilot edition of Pitch AgriHack, a new component of its AgriHack Talent Programme. Pitch AgriHack 2016 is...

South African Utility Eskom Gets $1.3 Billion Loan For Renewable Energy Transmission Grid

The South African government’s plans to expand renewable energy infrastructure in the country have received a major boost in the form of financial assistance from the African Development Bank. The African Development Bank (AfDB) hasShow More Summary

Visa Free by 2018? Africa's Open Visa Policy

By Michelle DeFreese African citizens currently face some of the most stringent visa restrictions in the world. According to the Africa Visa Openness Index Report launched by the African Development Bank (AfDB), citizens of African countries require visas to travel to 55% of countries within the continent. Show More Summary

Facts and fiction of Africa’s rising “middle class”

Quartz explains: With reference to the $2 threshold, the African Development Bank declared one-third – 300 million – of the continent’s population as middle class in 2011. A year later it adjusted its size up to 500 million. It considered this a key factor for development. Show More Summary

Tanzania Gets $1 Billion Loan to Curb Corruption and Improve Transport

Tanzania will receive a $1.1 billion loan package from the African Development Bank as the country seeks to crack down on public sector corruption and improve infrastructure. The East African country recorded strong economic growth of 7 percent in 2014, but much of the population still lives in poverty. Show More Summary

Windows Phone loses out to Blackberry 10 as First National Bank in South Africa halts developement

South African bank First National Bank has announced that it would halt further development of its banking app for Windows Phone, which first arrived in 2013, blaming the move on “lack of consumer demand.” The company has recently launched a revamp of its apps on Android, its biggest platform with more than half its usage, […]

Africa's Largest Economy Seeks Loans to Finance Budget Deficit

Africa’s largest economy, Nigeria, is seeking loans from the World Bank and African Development Bank (ADB) to help fund its forecasted budget deficit. Historically, Nigeria’s budget has been financed primarily with oil revenues, but the recent plummet in oil prices has slashed the amount of funding produced by this sector. Show More Summary

Nigeria asks African Development Bank for help

Nigeria has approached the African Development Bank for a $1 billion loan to help fund an increased budget deficit. ||| Cape Town - Nigeria, reeling from the oil price plunge that has slashed vital revenues, has asked the African Development Bank for a $1 billion loan to help fund an increased budget deficit, the AFDB said on Tuesday. Show More Summary

A $3.5 billion loan 'would hardly be enough' to turn things around for Africa's largest economy (USO, OIL)

Nigeria reportedly asked the World Bank and African Development Bank for a $3.5 billion loan. The request comes at a time when Africa's largest economy is dealing with the new(ish) reality of lower oil prices. The loan is intended to...Show More Summary

Nigeria is quickly running out of money

Officials in Nigeria are considering asking the World Bank, the African Development Bank, and other international fund holders, for help in fixing its budget after crude oil prices plunged by more than 75% in the last 18 months. The government said it is looking to borrow as much as $9 billion to fund its cash-starved economy. Show More Summary

Africa's largest economy needs a $3.5 billion emergency loan after getting hammered by the oil crash (USO, OIL)

Nigeria has asked the World Bank and African Development Bank for a $3.5 billion loan, according to The Financial Times. The request comes as Africa's largest economy grapples with a $15 billion budget deficit in the wake of the oilShow More Summary

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