Light up and power Africa, feed Africa, industrialize Africa, integrate Africa and improve the quality of life are the Bank’s High 5 operational priorities Kampala, Uganda | THE INDEPENDENT | Africa’s multi-lateral lender, African Development Bank Group, will boost its financing capacity by over 70 billion USD as it unveils a …
Read More »Africa’s external debt hits US$ 1 trillion mark
It’s time to push for greater debt transparency across all creditors and natural resource backed loans should no longer be used as collateral Kampala, Uganda | RONALD MUSOKE | Africa’s total external debt hit the US$ 1 trillion-mark last year and is expected to rise up to US$ 1.13 trillion by …
Read More »African Development Bank chief announces set up of youth investment banks
Kigali, Rwanda | Xinhua | The African Development Bank (AfDB) is setting up youth entrepreneurship investment banks that will help grow youth-based wealth for Africa’s young population, the bank’s president Akinwumi Adesina announced Tuesday. The banks, to be rolled out by the end of this month, will act as new financial …
Read More »AfDB to mobilize 25 bln USD for climate adaptation in Africa
Accra, Ghana | Xinhua | The African Development Bank (AfDB) will mobilize at least 25 billion U.S. dollars to support Africa’s climate adaptation programs, AfDB President Akinwumi Adesina said Monday. “Climate change is killing African economies. Annually, Africa loses 7 billion-15 billion dollars due to climate change. This is expected to …
Read More »AfDB approves 1.5 bln USD to help African countries avoid food crisis
Lagos, Nigeria | Xinhua | The African Development Bank (AfDB) said it has approved 1.5 billion U.S. dollars to help African countries avert a looming food crisis. In a statement made available to Xinhua on Friday, the bank said Africa now faces a shortage of at least 30 million metric tons …
Read More »Eye of the storm: African Development Bank chief Akinwumi Adesina
Abidjan, Ivory Coast | AFP | In just months, African super-banker Akinwumi Adesina has gone from glory to fighting for his career, battling US demands for a probe into accusations of ethical violations and favouritism. In 2015, the son of a farming family wrote another chapter in a remarkable tale, becoming …
Read More »African Development Bank says ‘no decision’ yet on demands for probe
Abidjan, Ivory Coast | AFP | The African Development Bank (AfDB) on Thursday said “no decision” had been taken regarding a US push for an outside probe into its chief, accused by whistleblowers of ethics breaches. US Treasury Secretary Steven Mnuchin says Washington is dissatisfied with the outcome of an internal …
Read More »African Development Bank chief hits back over graft accusations
Abidjan, Ivory Coast | AFP | The president of the African Development Bank (AfDB), Akinwumi Adesina, hit back on Wednesday at accusations of corruption and vowed to continue working. In a press statement, Adesina slammed “unprecedented attempts by some to tarnish my reputation” and declared “I will… continue to work with …
Read More »US urges probe into alleged ethics breach by African Development Bank
Abidjan, Ivory Coast | AFP | The US Department of the Treasury has called on the African Development Bank (AfDB) to carry out an independent probe into alleged ethics breaches by its president, Akinwumi Adesina. In a letter obtained by AFP on Monday, US Treasury Secretary Steven Mnuchin expressed “deep reservations” about the outcome of …
Read More »Nobody eats GDP- African Development Bank president says in call for inclusive growth
Kampala, Uganda | THE INDEPENDENT | Africa’s economies are growing strongly, but growth alone cannot meet the needs of the continent’s poorest citizens, because “nobody eats GDP,” the African Development Bank’s President, Akinwumi Adesina, has said. His statement came as he unveiled the Bank’s flagship economic report, the 2020 African Economic …
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