Nigerian fintech startup Rex Africa has launched what it describes as the country’s first AI-native bank. The new banking service, which went live this month, is built around an AI-powered financial agent designed to provide customers with personalized guidance. Founded by Yinka Odeleye, Rex Africa aims to integrate artificial intelligence directly into the core banking…
The African Development Bank Group and Agence Française de Développement (AFD) have signed a memorandum of understanding for 2026-2031, building on a partnership that has supported 17 jointly financed projects across 14 African countries since 2021. Signed on 10 November, on the sidelines of the Paris Peace Forum, the agreement aims to strengthen cooperation from…
Home affairs has extended its smart ID replacement service to 753 bank branches, surpassing its target of 750 a day after it opened the first phase of a digital asylum system to test cases. The department said on Wednesday it had beaten the target “more than four months ahead of schedule”, measured against the end…
Antalya, Türkiye, — Africa’s transition to clean energy received a potential boost at COP31 with the announcement of a new international financing coalition, co-chaired by the African Development Bank (AfDB) and World Bank from 2027. The Electrify Now Finance Coalition will bring together governments, development banks and private investors to mobilise funding for electrification in…
International development cooperation – external financial and technical support for economic and social improvements in lower-income countries – is shifting fast all around the world. Nowhere is this happening faster than in Africa. Aid cuts, natural and war-related shocks, unstable geopolitics, rapidly growing young populations and high external debt levels mean African leaders have to…
Investec CEO Fani Titi Shoprite Group plans to offer its customers a debit card and an expanded transactional account, with Investec as the licensed bank behind them, under an agreement in principle announced on Monday. Investec Bank will become the “banking sponsor” for the expanded offering from Shoprite Financial Services, the two companies said in…
What: African Development Bank Group participation in UNFCCC COP31, featuring high-level events, partnership announcements, bilateral engagements, and strategic discussions on climate finance, adaptation, resilience, energy transition, nature, and sustainable development. Who: The African Development Bank Group, led by Senior Vice President Marie-Laure Akin-Olugbade, the UNFCCC, and partners. When: 9 – 20 November 2026 Where: Antalya,…
The Board of Directors of the African Development Bank Group has approved a $200 million Trade Finance Line of Credit facility between the African Development Bank and Trade and Development Bank (TDB). The facility is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa,…
What? Presentation of the African Development Bank Group’s ‘Diaspora Initiative’ Who? The African Development Bank Group When? Monday, 9 November 2026; 5.30 pm-7.30 pm (GMT+1) Where? Les Salons Hoche, 9 Avenue Hoche, Paris (8th arrondissement) On 9 November 2026 in Paris, the African Development Bank Group will present its ‘Diaspora Initiative’ at a high-level meeting…
Paraguay’s President Santiago Peña has announced his resignation following a political crisis sparked by the collapse of a bank linked to him. “I want to apologise to the people if at any point I failed,” he said in a video message on social media. “It was never my intention to betray the trust you placed…
