· Oil prices slide as US, Iran pause hostilities over Strait of Hormuz ·Shettima lauds AfDB as REA, SAPZ sign MoU on energy for agro-processing zones Deji Elumoye and Emmanuel Addeh in Abuja The African Development Bank (AfDB) has warned that an expected “super” El Niño weather event could cost African countries between $10 billion…
Abuja — The African Development Bank (AfDB) has urged African countries to halt the export of raw critical minerals and instead focus on local processing, beneficiation and regional value chains to unlock greater economic value from the continent’s vast mineral resources. The call was made at the Ministerial Forum on Critical Minerals, Value Chains, and…
Small and medium-sized enterprises (SMEs) across Africa continue to face tighter lending conditions, higher collateral requirements, and limited access to formal trade finance despite evidence showing that their credit risk profile has remained relatively stable. According to a new African Development Bank (AfDB) report released in Brazzaville on May 27, SME-related default rates, averaging between…
African leaders have called for a major rethink of how the continent finances development, manages natural resources and positions itself within the global economy, saying Africa must strengthen economic sovereignty and reduce dependence on fragmented financing systems and raw commodity exports. Speaking during the ongoing African Development Bank Group (AfDB) Annual Meetings 2026 in Brazzaville,…
African Development Bank will provide $5.65 million to support a financing mechanism for solar mini-grids in Central African Republic, Chad, Nigeria and the Democratic Republic of Congo. The funding, approved in Abidjan, will be deployed as a repayable grant through the Sustainable Energy Fund for Africa. It is matched by the Nordic Development Fund, bringing…
The African Development Bank Group (AfDB) has raised a record $11 billion for the African Development Fund (ADF), which provides low-cost loans to low-income countries to support development projects. This is the largest amount in the Fund’s history, achieved despite cuts in global aid budgets and financial pressures worldwide. The funds, raised from 43 partners…
COP30 officials group photo. PHOTO/UN. By PATRICK MAYOYO [email protected] As the world prepares for the 30th United Nations Climate Change Conference (COP30), the African Development Bank Group (AfDB) is piloting several innovative financial instruments to help African countries address the escalating impacts of climate change. The main objectives for COP30, which will be held in…
Washington — THE African Development Bank (AfDB) has pledged to provide a total of 60m US dollars to the Tanzania Agricultural Development Bank (TADB) in 2026 to enhance its capital base further. This was disclosed by the Managing Director of TADB, Frank Nyabundege, at the Embassy of Tanzania on the sidelines of the Annual Meetings…
The African Development Bank (AfDB) has approved a $25 million equity investment in The Currency Exchange Fund (TCX) to strengthen access to long-term local currency hedging solutions across emerging and frontier markets, particularly in Africa. The Bank said the new capital injection would increase TCX’s ability to absorb risk and extend its reach into illiquid…
Addis Ababa — As increasingly frequent droughts and devastating floods are affecting agricultural productivity, leaving millions of people food insecure in Africa amid a lack of climate finance, the African Development Bank (AfDB) has committed USD 11 billion to support various climate-resilient and infrastructure projects in rural areas. Climate change-induced humanitarian emergencies are materializing in…
