The S&P Global Ratings assigned a AA-rating to the debut transaction, the highest rating for hybrid capital Abidjan, Ivory Coast | THE INDEPENDENT | The African Development Bank Group has received global recognition for its inaugural hybrid capital issuance, positioning the Bank as a pioneer in innovative sustainable financing. The …
Read More »Mobilising capital for Africa
Second Annual Meeting of Africa Sovereign Investors Forum Kampala, Uganda | AGENCIES | African Development Bank Vice President for Private Sector, Infrastructure, and Industrialisation Solomon Quaynor has called for unity to unlock the potential of African sovereign wealth funds, strategic investment funds, pensions, and life insurance assets, estimated at $2.3 trillion. …
Read More »Africa’s external debt hits US$ 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 »Uganda GDP to grow fast in 2023
Africa bank lists economy among best in Africa COVER STORY | THE INDEPENDENT | Just days to the June 14 reading of the national budget in parliament, the African Development Bank (AfDB) has listed Uganda among countries whose good GDP growth performance is expected to make Africa the second fastest growing …
Read More »AfDB to help de-risk climate finance in Africa
Kampala, Uganda | THE INDEPENDENT | Africa contributes the least – less than 3% to global warming, yet the continent is the most vulnerable to climate risks. To build resilience against climate change, the countries have outlined tangible ambitions for green growth, including plans to increase climate investment. Amid dwindling climate …
Read More »African Development Bank concludes 2023 insurer roadshow to mobilize private capital for Africa
London, UK | THE INDEPENDENT | The Co-Financing, Syndications and Client Solutions department of the African Development Bank Group has met with London-based insurers to galvanize continued support of the Bank’s balance sheet optimization and mobilization ambitions, in line with its 2023 lending program. The Bank held an investor relationship …
Read More »Key facts U.S. deliberately ignores about African debt
Western lenders for long have not been put on the spotlight for debt relief because they successfully managed to dupe the world that it’s only Chinese lenders that pose a threat to Africa Beijing, China | Xinhua | Like many senior U.S. officials who have visited Africa, U.S. Treasury Secretary Janet …
Read More »AfDB: Africa will grow 4% in 2023 as China recovers
The bank’s cautiously optimistic economic outlook is partly based on the expectation that China will continue to re-open after three years of strict Covid-19 policies Kampala, Uganda | Leo Komminoth | The African Development Bank predicts the continent’s growth will be a stronger-than-expected 4% this year, with China’s ending of strict Covid-19 …
Read More »Africa: Diaspora’s remittances, investment, expertise
They are vital for continent’s growth, say participants at African Development Bank Forum Kampala, Uganda | AGENCIES | Hundreds of academics and leaders of international institutions from around the world came together for an African Development Bank (AfDB) Forum on ways to harness the skills, wealth and dynamism of Africa’s 160-million-strong diaspora …
Read More »AfDB commits $301 million to renovate Uganda’s railway
The works entail the immediate rehabilitation of 265 km of MGR tracks between Malaba and Mukono, including the line to Jinja Pier and Port Bell on Lake Victoria Abidjan, Ivory Coast | THE INDEPENDENT | The African Development Bank Group is providing $301 million to overhaul the Kampala-Malaba Meter Gauge …
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