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.  […]

 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 $10 million concessional equity investment in the ARM-Harith Successor Infrastructure Equity Fund to increase access to reliable electricity and modern transportation infrastructure as well as energy-efficient technologies in Nigeria and the wider West Africa region. The catalytic investment, to be sourced from the Bank-managed Sustainable Energy Fund for Africa will leverage additional capital from local and […]

 Mike Sangster, Senior Vice President Africa at TotalEnergies E&P, has been confirmed as a speaker at the inaugural Congo Energy&Investment Forum (CEIF), set to take place on March 25-26, 2025 in Brazzaville. Representing one of the world’s largest integrated energy companies, Sangster will highlight TotalEnergies’ ongoing efforts to drive sustainable energy growth in the Republic of Congo and across the continent. Sangster is expected to delve into TotalEnergies’ strategic investments, […]

 In significant efforts to strengthen public health and improve vaccine access in Africa, the U.S. International Development Finance Corporation, the African Development Bank (www.AfDB.org), and the International Finance Corporation (IFC) have jointly announced a $45 million financing package for VaxSen, a subsidiary of Senegal’s Institut Pasteur de Dakar (IPD). The financing agreement, signed on December 13, 2024, in the presence of Senegalese President Bassirou Diomaye Faye in Dakar, underscores Senegal's […]

 The African Academy of Sciences (AAS) 15th Bi-Annual General Assembly and Scientific Conference opened with powerful calls for African scientific sovereignty and renewed investment in the continent's research capabilities. The four-day event, themed "Empowering and Advancing Africa's Scientific Enterprise," features prominent voices in African science and development policy. The 15th Bi-annual General Assembly and Scientific Conference was held in Abuja, Nigeria, from December 9–12, 2024. In opening remarks, Professor Kevin […]

 The African Development Bank Group’s (www.AfDB.org) Boards of Directors have approved yesterday the proposal by the Bank’s Management to construct a modern, state-of-the-art building to host its headquarters in Côte d’Ivoire’s commercial capital, Abidjan. The executive directors unanimously approved the proposal, stating it was important for the Bank to maintain its strong presence in Abidjan and to invest in a work environment that supports the well-being of its staff. The […]

 The African Development Bank Group’s (www.AfDB.org) Boards of Directors have approved yesterday the proposal by the Bank’s Management to construct a modern, state-of-the-art building to host its headquarters in Côte d’Ivoire’s commercial capital, Abidjan. The executive directors unanimously approved the proposal, stating it was important for the Bank to maintain its strong presence in Abidjan and to invest in a work environment that supports the well-being of its staff. The […]

 African Export-Import Bank (Afreximbank) (www.Afreximbank.com) recently joined a consortium of financial institutions in London to sign a landmark syndicated term loan facility for Bank of Industry (BOI) Nigeria of up to EUR 2 billion. Afreximbank, acted as one of the Initial Mandated Lead Arrangers, Bookrunner and Facility Agent. The Bank disbursed its participation amount of EUR 175 million in September 2024 in two tranches of EUR 115 million in Tranche […]