The African Development Bank Group (www.AfDB.org) has approved loans totaling €139.68 million to support youth employment and entrepreneurship in Côte d'Ivoire, targeting key sectors with high job creation potential. The loan comprised of €126.32 million from the Bank Group’s commercial African Development Bank window and €13.36 million from its concessional lending arm, the African Development Fund, will help bolster the socio-professional integration of young Ivorians by developing their skills and […]

 African Export-Import Bank (Afreximbank) (www.Afreximbank.com) signed a project preparation facility financing agreement for its private-sector renewable energy project in the Democratic Republic of Congo (DRC), marking a major step in expanding green infrastructure across the Central African region. Partnering with Kipay Investments SAS (Kipay), the Bank will finance the technical and bankability studies, legal, financial advisory and fundraising costs for the development of up to 200 MW reservoir-based hydropower project […]

 Global communications platform Infobip (www.Infobip.com) has reported record-breaking communications interactions during Cyber Week, underscoring the rising importance of conversational experiences. The platform recorded 11.6 billion communications interactions between Friday, 29 November, and Monday, 2 December, representing a 41% increase compared to last year. The data highlights a growing preference for conversational experiences, where customers can seamlessly complete entire journeys — from browsing to purchasing — on a single channel. This […]

 The Pan African Farmers' Organization (PAFO) and the African Development Bank (www.AfDB.org) are strengthening their collaboration to enhance support for small-scale farmers across Africa. A PAFO delegation led by its President, Ibrahima Coulibaly, visited the Bank’s headquarters on December 13, 2024, to advance the implementation of the Memorandum of Understanding (MoU) signed in October 2023.  Dr. Martin Fregene, Director of the Agriculture and Agro-industry, reaffirmed the Bank’s commitment to the […]

 The African Development Bank (www.AfDB.org) has announced a $10 million investment from its Sustainable Energy Fund for Africa (SEFA) into the Persistent Africa Climate Venture Builder Fund (ACV Fund) to propel climate technology entrepreneurship across Sub-Saharan Africa. This catalytic investment aims to unlock $70 million in funding for African climate-focused ventures. The ACV Fund will address the critical financing needs for early-stage climate technology entrepreneurs, focusing on high-potential ventures in […]

 Almost half of Africans have considered emigrating, a significant increase compared to the proportion recorded in 2016/2018, new Afrobarometer (www.Afrobarometer.org) findings from 24 African countries show. While the desire to migrate has increased in many countries, Tanzania stands out as the only country where emigration intentions have declined. North America and Europe are the most preferred destinations, although a significant proportion of potential migrants would prefer to relocate within Africa. […]

 The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (http://ICIEC.IsDB.org), a Shariah-compliant multilateral insurer and member of the Islamic Development Bank (IsDB) Group, is pleased to announce that its Board of Directors (BOD), during its 121st meeting, has approved to appoint Dr. Khalid Khalafalla as the new Chief Executive Officer (CEO) of ICIEC, effective 16 December 2024. In his tenure within the IsDB Group, which began when he […]

 The Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of EUR 118.63 million to Benin to implement the Drinking Water Supply for Resilience in Rural Areas Programme in Abidjan with the aim of supplying drinking water to an additional 965,000 people in the West African country. The African Development Bank is contributing EUR 75.63 million in financial support. The Africa Growing Together Fund (AGTF), a joint-financing fund […]

 The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $150 million senior loan to Mauritanian state-owned iron ore firm Société Nationale Industrielle et Minière (SNIM) to increase its logistics capacity and strengthen the country’s mining sector.  The approval, granted on November 29, is part of SNIM’s $467 million logistics expansion program, which aims to double the transport capacity of its iron ore railway by 2030.  […]