Tag Archives: African Development Bank

Uganda: Africa Fertilizer Financing Mechanism to boost farmers’ access to fertilizers with nearly $2.9 million in credit guarantees and grant funding Abidjan, Ivory Coast | THE INDEPENDENT |  The Board of Directors of the African Development Bank Group has approved a project to provide 60,000 metric tons of fertilizer to 400,000 …

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 …

Abidjan, Ivory Coast | THE INDEPENDENT | The African Development Bank’s Board of Directors has approved the establishment of the African Pharmaceutical Technology Foundation, a new groundbreaking institution that will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products. The Foundation …

Kitgum, Uganda | THE INDEPENDENT |  A 64 Billion Shillings water project has raised hope among residents and leaders of Orom Sub County in Kitgum district. Last year, the Ministry of Water and Environment signed a Memorandum of Understanding with Orom Sub County to connect piped water to homesteads in the …

Mubende, Uganda |  THE INDEPENDENT | The African Development Bank has threatened to withdraw funding for the project aimed at building the capacity of Ugandans for opportunities in the oil and gas sector, should the government fail to utilize the funds according to the stipulated terms and conditions.       The …

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 …

Kampala, Uganda |  THE INDEPENDENT |  African Development Bank has approved USD 1.5 million emergency relief grant to assist nine countries in the East and The Horn of Africa on the control of swarms of desert locusts that are threatening livelihoods and food security.   The proposed assistance will be channelled to …

Kampala, Uganda | THE INDEPENDENT | The African Development Bank has raised an exceptional USD 3 billion in a three-year bond to help alleviate the economic and social impact that the COVID-19 pandemic will have on livelihoods and Africa’s economies. The Fight COVID-19 social bond, with a three-year maturity garnered interest …

Kampala, Uganda | THE INDEPENDENT | The National Economy committee of Parliament has asked the government to scale down debt contracting to only projects that have high economic and financial returns, and target cheaper concessional loans to finance investments. According to the committee, as the country’s external debt position faces …

African companies to bid for contracts around the world Public procurement is fast becoming big business in Africa. It accounts for almost a third of the gross domestic product (GDP) in poor countries and up to 15% in developed countries, writes David Hamam In some countries, the share of public …