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The President of the African Development Bank Group, Akinwumi Adesina, has been awarded the prestigious Obafemi Awolowo Prize for Leadership. The award which promotes the legacy and democratic ideals of the late Nigerian nationalist and federalist leader Chief Obafemi Awolowo, also “recognises and celebrates excellence in leadership.” The Foundation’s Executive Director, Ambassador Dr Tokunbo Awolowo-Dosumu said, “Dr Adesina was the unanimous choice of the Foundation’s Selection Committee, which described Adesina as possessing the attributes for the award to the highest degree.” According to Ambassador Awolowo-Dosunmu, “The attributes considered to have characterised Chief Awolowo’s excellent leadership, include integrity, credibility, discipline, courage, selflessness,…

Rwanda Fertilizer Company (RFC), a collaborative venture between OCP Africa – subsidiary of OCP Group, a global leader in plant nutrition and the world’s largest producer of phosphate-based fertilizers – AGACIRO Fund, and APTC, was honored to welcome a Rwandan ministerial delegation led by HE Jean Chrysostome Ngabitsinze, Minister of trade with the presence of HE Ildephonse Musafiri, Minister of agriculture to the state-of-the-art blending plant in Bugesera. This significant visit represents a pivotal step in the production of high-quality fertilizers, commenced since August 2023, underscoring RFC’s and OCP Africa’s commitment to enhancing food security and fostering agricultural development, not…

The Economic Commission for Africa, Executive Secretary, Claver Gatete, and Zimbabwe’s Finance Minister, Mthuli Ncube today in Harare signed the 2024 Conference of Ministers (COM) Host Country Agreement. Zimbabwe is set to host the 56th Session of the ECA Conference of African Ministers of Finance, Planning and Economic Development from 28 February to 5 March, in Victoria Falls. “To drive industrialization that is sustainable and creates jobs, eradicates poverty and contributes to sustained economic growth, Africa must build climate resilience, be able to access finance for its development and reap benefits from its natural resources” said Mr. Gatete at the signing ceremony…

Climate-induced catastrophic events have led to severe humanitarian crises in Africa. Between 2000 and 2022, a total of 407.5 million people in Africa were affected by natural disasters. During this time, 4.2 million people became homeless, 53,610 people died and 52,205 were injured. This is according to the Economic Report on Africa 2023 (ERA2023) which will be launched on December 18, 2023, in Abuja, Nigeria. Titled: “Building Africa’s Resilience to Global Economic Shocks”, the report shows that climate shocks generally are highly correlated with the cyclical component of GDP growth and not with the long-term trend in Africa, which suggests that part of…

The ECOWAS Bank for Investment and Development (EBID) extended a line of credit totaling EUR 30 million to MANSA Bank in a ceremony held in Abidjan, Côte d’Ivoire on December 6, 2023. This facility which is exclusively dedicated to SMEs/SMIs operating in the agricultural value chain, will support agribusiness in various ways including transport, storage and processing of agricultural products. In his remarks, Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID expressed that the facility is in line with the Bank’s strategy of investing in SMEs operating in key sectors in the sub-region, through…

Rawbank has announced that it will become the first bank in the Democratic Republic of the Congo (DRC) to adopt Mastercard’s Carbon Calculator with the aim of promoting environmentally responsible consumer behavior. The innovative tool was developed by Mastercard, together with Swedish fintech company Doconomy, to help inform customer spending and drive more climate-conscious purchasing decisions. The landmark announcement was made on the sidelines of 28th UN Climate Change Conference (COP28) in Dubai in the presence of senior executives from Mastercard and Rawbank. The Mastercard Carbon Calculator enables consumers to receive a snapshot of the carbon emissions generated by their purchases…

The Africa-Europe Foundation (AEF) and the African Union Development Agency-NEPAD (AUDA-NEPAD) proudly announce a groundbreaking collaboration aimed at translating commitments into tangible action with a specific focus on accelerating delivery on the commitments of the AU-EU Partnership and unlocking cooperation at the nexus of climate and economic development. The announcement took place at the United Nations Climate Change Conference, COP28, in Dubai, where AUDA-NEPAD and AEF have been leading a series of cross-continental initiatives on climate adaptation and health, sustainable finance and carbon markets, energy, agri-food and blue economy. The AEF – AUDA-NEPAD cooperation agreement centres on: Nardos Bekele-Thomas, CEO…

At a roundtable on the Sustainable Debt Coalition, Mr. Claver Gatete, Executive Secretary, UN Economic Commission for Africa (ECA), stressed the need to ensure that climate finance from both public and private sectors flows at the appropriate scale and pace to expedite sustainable development aligned with the Paris Agreement and meet the SDGs without burdening the already stretched fiscal capacity of developing countries. Africa requires $2.8 trillion between 2020 and 2030 to implement its Nationally Determined Contributions (NDCs) under the Paris Agreement but only receives $30 billion annually for climate finance, he said. He added that increasing the number of…

The Confederation of African Football (CAF) and Africa Global Logistics (AGL), a major logistics player in Africa, have concluded a strategic partnership making AGL the official logistics partner of African football. Africa Global Logistics thus becomes an official partner of the TotalEnergies CAF Africa Cup of Nations – Côte d’Ivoire 2023 and the TotalEnergies CAF Women’s Africa Cup of Nations 2024. This partnership between CAFand AGL, two organisations at the heart of Africa’s transformations; is an opportunity to contribute significantly to the development of football, a sport that unites and inspires African youth. By becoming the official logistics partner of…

African Export-Import Bank (Afreximbank) and King’s College London (“KCL” or” King’s”) have signed a memorandum of agreement (MOA) that sets the stage for initiating a scoping study that will determine the feasibility of their plan to jointly establish of a state-of-the-art medical and nursing school alongside the African Medical Centre of Excellence (AMCE) in Abuja, Nigeria. The signing ceremony, which took place at the Strand Campus of King’s College London, on 24 November 2023, marks yet another milestone in Afreximbank’s efforts toward a positive transformation of Africa’s healthcare sector, by producing quality healthcare workers, doctors, nurses, and scientists for Africa and…

In Ghana, the Africa Prosperity Network (APN) has appointed a new CEO, Njack Kane, a financier selected after an extensive search aimed at finding “a seasoned industry professional capable of bridging Anglophone and Francophone Africa.” The Africa Prosperity Network (APN) organizes the Africa Prosperity Dialogues, a strategic meeting focused on integration issues. In his role, Njack Kane will be supported by Prince Moses, Deputy General Manager, and Stéphanie Diatta, General Manager. The new management team, comprising three members, is proficient in both English and French. Njack Kane’s leadership team is strengthened by an Executive Board, chaired by Gabby Otchere-Darko as…

“Produce green hydrogen and you can rely on us as buyers”—German Chancellor Scholz tells African leaders “I look forward to strengthening our strategic partnership with Germany in our drive to achieve faster economic growth and prosperity for Africa”—African Development Bank’s Adesina. The government of Germany has pledged to invest 4 billion euros in Africa’s green energy until 2030. German Chancellor Olaf Scholz made the announcement at a press conference in Berlin after meeting African leaders and heads of international organisations including the President of the African Development Bank Group Dr Akinwumi Adesina, during the G20 Compact with Africa conference. The Compact with…

Africa Healthcare Network (AHN), a leading provider of dialysis services in Africa, has secured $20 million in equity and debt funding, from Africa50 and AfricInvest, two leading African institutions, and Tokyo-based Ohara Pharmaceutical Co., Ltd. The funding will enable AHN to accelerate its growth and address significant gaps in the availability of high quality, affordable...

The African Export-Import Bank (Afreximbank) has been recognised with a much-coveted “Sustainable Deal of the Year” award for its pioneering work in the establishment and development of the Liquidity and Sustainability Facility (LSF), a vehicle that seeks to increase liquidity and demand for Eurobonds issued by African Sovereigns. Issued by Uxolo Global 2023: Development and Impact Finance and co-hosted by TXF, the award highlights the positive impact which increased demand for these Eurobonds can have in promoting investments in sustainable infrastructure and development across Africa.The LSF seeks to harness and infuse enhanced liquidity into Africa’s financial markets by contributing to…

Lomé, 20 November 2023 The ECOWAS Bank for Investment and Development (EBID) has signed an agreement with WEMA Bank Plc, Nigeria providing a USD50 Million line of credit to support Small and Medium Enterprises (SMEs) in the agro-business sector in the th Federal Republic of Nigeria. The signing ceremony took place on November 20 , 2023, at the Bank’s Headquarters in Lomé, Togolese Republic. In his address, Dr George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, affirmed that the collaboration with Wema Bank Plc was aligned with the United Nations’ Sustainable Development Goals (SDGs), particularly…

• This is the largest guarantee facility in sub-Saharan Africa • The risk sharing agreement marks the third renewal of the partnership between Ecobank and AGF. • SMEs from across 27 African markets in which Ecobank operates will benefit from the partnership; up from just 7 countries in 2013. • The agreement includes favourable lending terms for gender financing and green transactions. Lomé, Togo, 16 November 2023, Ecobank, the leading pan-African banking group, and the African Guarantee Fund (AGF), a specialized pan-African guarantee provider,have joined forces in a groundbreaking USD200 million risk-sharing agreement, aimed at catalyzing economic growth and supporting entrepreneurial ventures – including women-owned SMEs on the continent. The two organisations signed a strategic partnershipagreement today on the sidelines of the Africa Financial Industry Summit (AFIS) in Lomé, Togo, in the…

Africa should prioritize the implementation of the Addis Ababa Declaration on Population and Development (AADPD) which is key to the achievement of the Sustainable Development Goals and the African Union Commission Agenda 2063, population experts have urged. Meeting at the 10th Africa Regional Review meeting of the AADPD, the African Population Experts Committee (APEC) called on African governments to fulfill the principles of the declaration and to tap the youth dividend to accelerate sustainable development. The Chief, in the UNFPA Representation Office to African Union Commission (AUC) and Economic Commission for Africa, Saturnin Epie, noted that population dynamics, climate change,…

Attendees continued to hear wide-ranging discussions and comments on trade and investment issues on the fifth day of the third Intra-African Trade Fair 2023 (IATF2023) in Cairo yesterday. Egypt and Barbados celebrated Country Days by hosting investment forums. In a discussion at the Egypt investment forum, speakers highlighted opportunities for greater trade between Egypt and other parts of Africa. Dr. Sherif El Gabaly, Head of the African Affairs Committee, Egyptian Parliament, underscored lessons that Egypt could share in terms of strengthening agricultural self-sufficiency. Other Egyptian business leaders shared insights from their work in the healthcare, automotive, construction and e-commerce sectors.…

The African Export-Import Bank (Afreximbank), in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has released an impressive list of 71 sponsors of the third Intra-African Trade Fair (IATF2023), Africa’s premier trade and investment event, taking place in Cairo from 9 to 15November. Positioned as the premier platform for business exchanges in Africa, IATF2023 is drawing on the broad range of programmes and initiatives being implemented by Afreximbank to facilitate intra-African trade and on the promise of the AfCFTA to revolutionise trade, reshape markets across the Africa, boost output in the manufacturing and…

Stepping up their support for African partner countries ahead of the crucial COP28 climate change conference, the Arab Coordination Group (ACG) announced today that it aims to allocate up to US$50 billion to help build resilient infrastructure and inclusive societies in the African continent. The announcement was made by the Islamic Development Bank President, Dr. Muhammad Al Jasser at the Arab-Africa & Saudi-Africa Summits’ Economic Conference held in Riyadh, Kingdom of Saudi Arabia. Many countries in Africa are particularly vulnerable to climate change, making strengthening climate resilience and adaptation an urgent priority. In a joint communiqué the group of ten…

Ecobank Group, the leading pan-African banking Group, sponsors the Intra-African Trade Fair 2023 (IATF 2023), the continent’s premier trade and investment event, which is taking place from 9-15 November 2021, in Cairo, Egypt. Theme this year is “Connecting African Markets”. The event will provide a springboard platform for businesses to grow their intra-African trade and investments across the continent’s single market of 1.4 billion people created by the African Continental Free Trade Area (AfCFTA). IATF 2023 is expected to attract over 1,600 exhibitors showcasing their goods and services, over 35,000 attendees, to result in US$43 billion of trade and investment deals being…

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, officially inaugurated today in Vietnam, the Ha Nam Vocational College, with the Vice Chairman of Hanam province, alongside officials from both sides. SFD previously contributed over $9 million to the Ha Nam Vocational College expansion project, which aims to become a high-quality vocational training center for the province and country. The project included building and equipping 10 educational buildings, benefiting over 3,000 students yearly. Vocational college expansion to meet growing demand for skilled workers and businesses in Han Nam and other provinces, especially in the automotive, welding, and…

OCP Group, the world’s largest phosphate-based fertilizer producer, the University Mohammed VI Polytechnic (UM6P), and American agriculture startup Regrow have signed a strategic partnership to develop an MRV (Measuring, Reporting, and Verification) system specific to African soil. The system is based on the biogeochemical “DNDC” model (DeNitrification-DeComposition), a globally calibrated and validated scientific model, recognized by reference standards. The objective of the project is to explore the potential of soil to sequester carbon, boost its fertility, and improve equitable access to the carbon market, thereby promoting soil health on the continent. The project will provide African farmers with access to…

A new social contract that will boost fair and equal opportunities for citizens is a must to accelerate sustainable development in Africa, the new Executive Secretary of the Economic Commission for Africa (ECA), Claver Gatete, has told a meeting of experts and policy makers which opened in Addis Ababa, Ethiopia, this week. “Governments must increase...

Today, at the Second AfriCaribbean Trade and Investment Forum (ACTIF 2023), Prof. Benedict O. Oramah, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank), unveiled the significant strides made in trade and investment relations between Africa and the Caribbean. Addressing Heads of Governments and delegates during a Keynote on the opening day, Prof. Oramah underscored, “Just over a year ago, we began that journey convinced that only we could transform the fortunes of our lands… All of us from Africa and the Caribbean, at this moment more than at any other time in history, hold a…

The Ecobank Group, the leading pan-African banking group, celebrated the 10th anniversary of Ecobank Day, its flagship social impact event, last Saturday, October 21, 2023. To mark the occasion, Ecobank launched a three-year ‘Transforming Africa Through Education’ campaign, which it kicked-off with a focus ondigital education and equipping children and youth with the digital skills they need for the jobs of tomorrow.  Jeremy Awori, Chief Executive Officer of Ecobank Group, said: “Ecobank Day reflects the giving spirit of all 14,000 Ecobankers across the Group. For 10 years, it has given us an opportunity to manifest our commitment to making a positive…

On October 17, in the presence of Shengjun Ren, President of CEXIM and Prof. Benedict Oramah, Afreximbank President and Chairman of the Board of Directors at the CEXIM Headquarters in Beijing, Mr. Wencai Zhang, Vice President of CEXIM, and Dr. George Elombi, Executive Vice President of Afreximbank signed the agreement. The purpose of the loan is to facilitate and finance the trade and economic cooperation between the member states of Afreximbank and the People’s Republic of China (PRC). The loan will also aide in promoting the financial cooperation between Africa and the PRC. Speaking during the meeting and signing ceremony, Prof. Oramah noted that it…

François Bloch will take his new position on 1 November 2023, replacing Laurent Goutard who will leave the Group in 2024 to pursue new professional and personal projects. François will report to Delphine Garcin-Meunier, Head of Mobility and International Retail Banking & Financial Services. François Bloch joined the Group more than 30 years ago. He has held several key positions within International Retail Banking. He was First Deputy Chairman of Rosbank in Russia from 2012 to 2016. After that, he was Chief Executive Officer of BRD in Romania until September 2023. In both countries, he successfully transformed the bank’s operating…