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AfDB delays vote on financing for Côte d'Ivoire Airbus purchase

By: Reuters     5th October 2017 The board of directors of the African Development Bank on Wednesday delayed a vote on a $296-million financing package for Côte d'Ivoire national airline Air Cote d'Ivoire's purchase of five new Airbus A320s, the bank said. The board discussed the proposed deal, but bank officials said no vote... 

AfDB sells first $39m Industrialise Africa theme bond

By: Schalk Burger     29th September 2017 Development finance institution, the African Development Bank (AfDB), has sold an Industrialise Africa theme bond to Fukoku Mutual Life Insurance Company for $39.21-million. The bond, which will mature at the end of September 2027, will be used to support private sector industrial development and... 

Ghana officials showcase progress on international airport project

By: David Oliveira     1st September 2017 The construction of a new terminal at Ghana’s Kotoka International Airport (KIA), in Accra, is expected to transport five-million passengers a year once completed in April next year. The project, funded by the African Development Bank (AfDB), with a $120-million facility, will not only improve... 

Infrastructure key to unlocking trade and value chains across SADC region

By: Anine Kilian     25th August 2017 It is common cause that industrialisation across the Southern African Development Community (SADC) region is key to diversifying the regional economy away from its current reliance on the export of raw commodities and to supporting economic growth and employment creation. There is broad... 

Infrastructure key to unlocking trade and value chains across SADC region

By: Anine Kilian     25th August 2017 It is common cause that industrialisation across the Southern African Development Community (SADC) is key to diversifying the regional economy away from its current reliance on export of raw commodities and to supporting economic growth and employment creation. There is broad acceptance that SADC... 

Morocco receives funding for hybrid renewable-energy plants

By: Dylan Slater     25th August 2017 A loan to the value of $25-million has been granted to Morocco for investment in renewable-energy projects to help the country generate solar power through an innovative hybrid concentrated solar power (CSP) and photovoltaic (PV) solution.  

SADC in need of localised development

     18th August 2017 Localisation in infrastructure development in the Southern African Development Community (SADC) region is critical to industrialisation, says the Department of Trade and Industry (DTI).  

African conference strives to boost bioenergy industries

     18th August 2017 Global conference organiser Centre for Management Technology (CMT) notes that its Biomass Trade & Bioenergy Africa conference will be held at the Radisson Blu Hotel in Sandton on September 28 and 29. CMT hopes that the conference will further development of the African biomass and bioenergy... 

Localisation in infrastructure development in SADC critical for industrialisation

By: Anine Kilian     1st August 2017 Localisation in infrastructure development across the Southern African Development Community (SADC) region is critical for industrialisation, according to African Integration and Industry chief director Nigel Gwynne-Evans, who spoke at the SADC Industrialisation Week in Johannesburg on Tuesday.... 

Africa urged to focus on attracting more FDI

By: Anine Kilian     28th July 2017 Improving the quality of life for people in Africa is a key goal of the African Development Bank and this will require the continent to attract more foreign direct investment (FDI). Addressing delegates at the second Gauteng Infrastructure Investment Conference, in Midrand, on Friday, University... 

AfDB in $2bn project finance pact

By: Mia Breytenbach     28th July 2017 The African Development Bank (AfDB) and the Islamic Development Bank (IsDB) have signed a landmark agreement to strengthen their partnership at country level and jointly contribute to $2-billion over the next three years to finance projects in agriculture, food security, renewable energy, small... 

Nepad advocates centralised bankable project information hub

By: Natasha Odendaal     25th July 2017 The New Partnership for Africa's Development (Nepad) Infrastructure Project Preparation Facility (IPPF) is suggesting that a one-stop shop initiative – comprising a project hub and a help desk – be established to promote bankable projects in Africa, with the aim of increasing the accessibility of... 

May unveils British initiatives aimed at reducing Africa’s reliance on aid

By: Keith Campbell     21st July 2017 British Prime Minister Theresa May used the recent G20 Summit in Hamburg, Germany, to announce a series of new British initiatives intended to reduce the reliance of African countries on aid and increase their long-term stability and prosperity. This was in line with a theme for the summit... 

Africa’s energy funding costs, capital access, risk profile under the spotlight

By: Natasha Odendaal     18th July 2017 Aligning power generation and distribution projects with the host country and government’s mandate is a step forward in attracting more internal and external financing to develop comprehensive energy and power infrastructure. This is one of the messages emerging from this year’s PowerGen Africa... 

Nepad Special Fund contributors call for increased contribution for Africa’s infrastructure development

By: Creamer Media Reporter      10th July 2017 While contributions to the New Partnership for Africa’s Development’s (Nepad’s) Infrastructure Project Preparation Facility (IPPF) Special Fund reached some $90.5-million during the first half of this year, donor contributors have urged other countries to contribute to the fund to support... 

Nigerian university expansion project receives AfDB loan

By: David Oliveira     7th July 2017 The African Development Bank (AfDB) last month signed agreements for a corporate loan to finance the expansion of Afe Babalola University (ABUAD) in Ado Ekiti, Nigeria. The expansion project consists of the construction of new facilities – including a 400-bed teaching hospital, an industrial... 

AfDB approves $15m equity investment to support inclusive growth

By: Mia Breytenbach     7th July 2017 The African Development Bank (AfDB) has approved a $15-million investment in multinational private equity fund Shore Capital Fund III (ShoreCap III), which promotes financial inclusion by supporting financial institutions serving Africa’s low-income and emerging middle-class communities. The... 

Malawi awards contract for rehabilitation of border road

By: Marcel Chimwala     23rd June 2017 The Malawi government has awarded China's Zhejiang Provincial Transportation Engineering Construction the tender to rehabilitate a 46 km road stretch from Karonga to Songwe, near the border with Tanzania. The project will be financed by a loan from the World Bank’s International Development... 

Uganda–Kenya road upgrade project.

By: Sheila Barradas     23rd June 2017 The project will upgrade the Kapchorwa–Kitale road section, which will foster regional trade and unlock the agricultural potential of the project area. 

AfDB, Japanese agency sign seventh loan agreement

By: Megan van Wyngaardt     19th June 2017 The Japan International Cooperation Agency (Jica) has signed a Y34.41-billion, or around $300-million, loan agreement with the African Development Bank (AfDB), intended to promote economic growth and reduce poverty in Africa through supporting the private sector. The loan is part of the enhanced... 

Malawi and Tanzania sign MOU for Songwe River Basin Programme 

By: David Oliveira     16th June 2017 Malawi and Tanzania signed a memorandum of understanding (MOU) last month at the Bingu International Convention Centre (BICC) in Lilongwe, Malawi, which will see the two African nations work together for the development of the Songwe River Basin Development Programme (SRBDP). The SRBDP was... 

AfDB approves $100m facility for ETG

By: Anine Kilian     15th June 2017 The African Development Bank (AfDB) has approved a $100-million facility to finance agricultural supply chain Export Trading Group’s (ETG’s) soft commodity value chain operations in sub-Saharan Africa. This soft commodity finance facility (SCFF) is one of the core trade finance instruments used... 

Bids sought for construction and rehab of Malawi water supply schemes

By: Marcel Chimwala     9th June 2017 Malawi’s Ministry of Agriculture, Irrigation and Water Development is inviting bids for the construction and rehabilitation of gravity-fed water supply schemes in Rumphi district, in the Northern Region, and in Nkhotakota district, in the Central Region. The assignment will be financed by the... 

Entrepreneurs key to unlocking continent’s economy – AfDB report

By: Megan van Wyngaardt     22nd May 2017 With the continent continuing to face sluggish growth, African governments need to integrate entrepreneurship more fully into their industrialisation strategies, the African Development Bank’s (AfDB’s) ‘African Economic Outlook 2017’ suggests. Last year, Africa’s economic growth slowed to 2.2%... 

India, Japan to push for One Belt, One Road counter at AfDB conference 

By: Ajoy K Das     19th May 2017 India will unleash its highest level of economic diplomacy at next week’s African Development Bank (AfDB) conference in the western city of Ahmedabad, with the aim of setting quantifiable targets of international economic and trade cooperation between the continents in a bid to counter China’s... 

AfDB to support Namibia’s economic governance, competitiveness

By: Megan van Wyngaardt     11th May 2017 The African Development Bank (AfDB) has approved a R3-billion loan to finance the Namibia Economic Governance and Competitiveness Support Programme (EGCSP), which will support the strengthening of public financial management and improve the quality and efficiency of public sector spending. “The... 

Water shortages sound a warning to city planners 

By: Kim Cloete     8th May 2017 The extremely worrying water shortage in Cape Town is an indication that climate change is an issue that can simply not be ignored by engineers and city planners, Cape Town mayor Patricia de Lille has told consulting engineers in Cape Town. She told the International Federation of Consulting... 

Urgent reforms needed to ensure Africa creates the 450m jobs it needs in 20yrs

By: Natasha Odendaal     5th May 2017 Less than a quarter of the 450-million new jobs needed for Africa’s youth over the next two decades will be created unless urgent reforms to boost productivity and competitiveness are undertaken. The ‘Africa Competitiveness Report 2017’ reveals that Africa’s working age population is growing... 

African countries must create conducive environment to attract more infrastructure investment

By: Shirley le Guern     4th May 2017 Development finance institutions, banks and private investors are collectively sitting on trillions of dollars in capital that could be invested into African infrastructure projects if they were offered returns commensurate with the perceived higher risk environment, Africa50 CEO Alain Ebobisse... 

AfDB appoints acting CFO, finance VP

By: Natasha Odendaal     2nd May 2017 The African Development Bank (AfDB) has appointed treasurer Hassatou Diop N’Sele as acting VP for finance and CFO, standing in until a successor is found for Charles Boamah, who has been appointed as senior VP. N’Sele, with 25 years of banking and finance experience, oversees investments of the... 

AfDB approves $253m for Uganda–Kenya connecting road upgrades

By: Mia Breytenbach     28th April 2017 The African Development Bank Group (AfDB) has approved $253-million in loans to the governments of Kenya and Uganda for the upgrading of a 118 km road section connecting the two countries and construction of the 32km Eldoret town bypass, in Kenya. Kenya will receive $147.3-million and Uganda... 

AfDB welcomes Zambia, Ghana to bond index

By: Megan van Wyngaardt     24th April 2017 The African Development Bank (AfDB) has added Zambia and Ghana to its African Bond Index (ABI), expanding the index to the eight most liquid sovereign bond markets in Africa. The ABI provides investors with a tool with which to measure and track the performance of Africa’s bond markets. 

AfDB to review development of Senegalese power plant after complaints 

By: Megan van Wyngaardt     21st April 2017 The African Development Bank (AfDB) will review compliance eligibility at the €206-million, 125 MW Sendou coal-fired power plant project, in Senegal, following several community complaints. Two groups raised eight similar issues with the bank, including an unviable government policy option to use... 

Africa50 appoints CEO

By: Anine Kilian     20th April 2017 The Pan-African infrastructure investment platform Africa50, which is funded by the African Development Bank (AfDB), has appointed Kenyan-born Carole Wamuyu Wainaina as CEO. She will lead a multidisciplinary team on the noninvestment side of the organisation, including investor relations,... 

Africa Climate Change Fund embraces new partner contributions

By: Mia Breytenbach     14th April 2017 The African Development Bank (AfDB) approved the conversion of the Africa Climate Change Fund (ACCF) to a multidonor trust fund last month. This conversion brings two new partners to the fund, the governments of Italy and Flanders, Belgium, which are contributing €4.7-million and €2-million... 

SA firm sees potential for elevated-track solution in everything mining to public transport

By: Irma Venter     7th April 2017 South African company Milotek will later this year start construction of a fractional rapid transit (FRT) system at a private coal mine in Mpumalanga. Milotek director and inventor Andries Louw believes this system will revolutionise the way goods are moved in the mining industry and also,... 

SA firm sees potential for elevated-track solution in everything mining to public transport

By: Irma Venter     7th April 2017 South African company Milotek will later this year start construction of a fractional rapid transit (FRT) system at a private coal mine in Mpumalanga. Milotek director and inventor Andries Louw believes this system will revolutionise the way goods are moved in the mining industry and also,... 

AfDB lends Tanzania $29.8m for natural gas developments

By: Megan van Wyngaardt     6th April 2017 The African Development Bank (AfDB) has approved a $29.8-million loan to Tanzania to help the country mobilise domestic resources and unlock the potential of its natural gas resources through leveraging domestic markets and local content initiatives. The project will help Tanzania “capture the... 

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