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The World Bank Group
Source: The World Bank Group |

Equatorial Guinea Economic Update: Designing Fiscal Instruments for Sustainable Forestry

Forests in Equatorial Guinea are estimated to cover about 87% of its territory and play a vital role as an essential ecosystem

The World Bank today issued the 2024 Equatorial Guinea Economic Update which analyzes the country’s recent economic developments and outlook and highlights the importance of designing effective fiscal instruments for sustainable forestry and economic diversification. Following two years of recovery, the economy of Equatorial Guinea contracted by 5.7% in 2023, driven by…

International Islamic Trade Finance Corporation (ITFC)

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    • International Islamic Trade Finance Corporation (ITFC) and the Central Bank of Nigeria Successfully Conclude Workshops on Islamic Banking and Trade Finance
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Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation (ITFC) and the Central Bank of Nigeria Successfully Conclude Workshops on Islamic Banking and Trade Finance

These workshops form part of ITFC’s Integrated Trade Solutions (ITS) framework, aligning with the organization’s goal of providing holistic trade financing interventions in OIC member countries

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank (IsDB) Group, in partnership with the Central Bank of Nigeria (CBN), successfully concluded a workshop on Non-Interest Banking and Trade Finance in Nigeria. Held from 17th to 19th September 2024 in Abuja, the sessions aimed…

Presidency of the Arab Republic of Egypt
Source: Presidency of the Arab Republic of Egypt |

Egypt: President El-Sisi Meets the Prime Minister and the Minister of Finance

President El-Sisi gave directives to continue the comprehensive institutional reform process

Today, President Abdel Fattah El-Sisi met with Prime Minister, Dr. Mostafa Madbouly, and Minister of Finance, Mr. Ahmed Kouchouk. The President was updated on the financial performance indicators of the general budget and the government’s efforts to achieve fiscal balance, which contribute to improving the performance of the national economy,…

Ecobank Transnational Incorporated

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    • (Front, from left) Sebastian Ashong-Katai, MD, Ecobank Sierra Leone and Samir Abhyankar, MD and Head of Financial Services, BII (Back, from left) Kevin James, Head of International Organisations & Development Finance Institutions – USA, UK & Europe, Ecobank; Jo Fry, Investment Director and Head of Intermediated Financial Services, BII; HE Morie Komba Manyeh, Sierra Leone High Commissioner to the UK; Wahid Ben Tanfous, Investment Manager, BII and Alex Kucharski, Head of West Africa for ARIA, BII
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Source: Ecobank Transnational Incorporated |

British International Investment and Ecobank Sierra Leone sign $25 million risk sharing agreement to boost private sector growth

The investment will help Ecobank Sierra Leone to grow its loan book by increasing credit limits and extend lending tenors to up to five years

The facility will increase lending to businesses in Sierra Leone where access to finance is limited, support local currency lending and provide longer-term loans which are generally unavailable; It demonstrates BII’s ability to act as a first mover in frontier markets, navigating risk and working with partners to create impact;…

African Development Bank Group (AfDB)

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    • Justine Gantekpin’s thriving market garden in Djeffa, expanded thanks to the support of project
    • A PAIAVO project beneficiary tending to his plot
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Source: African Development Bank Group (AfDB) |

Modernizing Agriculture: African Development Fund Project Changes Lives in Benin’s Ouémé Valley

Launched in 2014 with €63.63 million in funding from the African Development Bank Group’s concessional window, the African Development Fund, the project has supported 14 localities across Benin’s Ouémé, Zou, and Atlantique districts

The sun rises early over Djeffa, a locality in southeastern Benin’s Sèmè-Podji district where Justine Gantekpin is already tending to her flourishing vegetable farm. Thanks to the African Development Fund Project for Support of Agricultural Infrastructure in the Ouémé Valley (http://apo-opa.co/3Ydp5vP), Gantekpin has expanded her farm from a small plot…

African Development Bank Group (AfDB)

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    • African Development Bank Appoints Dr. Emmanuel Pinto Moreira as Director of Special Operations in the President’s Cabinet
    • African Development Bank Appoints Dr. Emmanuel Pinto Moreira as Director of Special Operations in the President’s Cabinet (FR)
    • African Development Bank Appoints Dr. Emmanuel Pinto Moreira as Director of Special Operations in the President’s Cabinet (PT)
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Source: African Development Bank Group (AfDB) |

African Development Bank Appoints Dr. Emmanuel Pinto Moreira as Director of Special Operations in the President’s Cabinet

In his new role, Moreira will focus on the initiative in the Bank’s Ten-Year Strategy to revalue Africa’s green wealth, working closely with the Economic Governance and Knowledge Management Vice Presidency, and other stakeholders

The African Development Bank Group (www.AfDB.org) has appointed Dr. Emmanuel Pinto Moreira as Director of Special Operations in the President’s Cabinet Office, effective 1 July 2024. Dr. Pinto Moreira, a Beninise economist, brings to the role over three decades of experience in macro-fiscal, growth, poverty, economic governance, trade, and competitiveness-related…

Afreximbank
Source: Afreximbank |

Afreximbank approves US$20.8 million for Starlink Global’s cashew factory project in Lagos

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has approved a US$20.8 million financing facility for Nigeria-based Starlink Global & Ideal Limited to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos. According to the facility agreement signed in on July 22, 2024, Afreximbank will provide…

Afreximbank
Source: Afreximbank |

African fashion designers supported by Afreximbank’s Creative Africa Nexus (CANEX) shine at Paris Fashion week

Each designer brought their distinct vision to life, offering a fresh perspective on what African fashion represents in the 21st century

Two weeks after the highly successful inaugural Tranoï Tokyo trade show held in Japan from September 4-5, over 20 exceptional fashion brands from across Africa and the diaspora showcased their designs at the Paris Fashion Week on 26-29 September at Tranoï, Palais Brongniart as part of Afreximbank’s CANEX Presents Africa…

Energy Capital & Power

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    • Energy Demand to Double by 2050, Says Angola Oil & Gas (AOG) 2024 Ministerial Panel (1)
    • Energy Demand to Double by 2050, Says Angola Oil & Gas (AOG) 2024 Ministerial Panel (2)
    • Energy Demand to Double by 2050, Says Angola Oil & Gas (AOG) 2024 Ministerial Panel (3)
    • Energy Demand to Double by 2050, Says Angola Oil & Gas (AOG) 2024 Ministerial Panel (4)
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Source: Energy Capital & Power |

Energy Demand to Double by 2050, Says Angola Oil & Gas (AOG) 2024 Ministerial Panel

A Ministerial Panel at the Angola Oil & Gas 2024 conference drew attention to the challenges and opportunities regarding regional petroleum trade in Africa

Energy demand is projected to increase two-fold by 2050, a Ministerial Panel at the Angola Oil & Gas conference – sponsored by SLB – underscored. The panel noted that this is largely due to a rise in population growth as well as increased economic activity across developing countries.  Delivering a…

African Development Bank Group (AfDB)

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    • Participants of the Just Transition Planning Masterclass, Nairobi, 18 September 2024 (1)
    • Participants of the Just Transition Planning Masterclass, Nairobi, 18 September 2024 (2)
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Source: African Development Bank Group (AfDB) |

African Development Bank and Climate Investment Funds Deliver Just Transition Planning Masterclass for African Decision-Makers

The initiative brought together 25 policymakers, civil society organizations, and technical experts from pilot countries to collaborate on practical solutions for inclusive climate action

As Africa transitions toward a climate-resilient, low-carbon economy, the African Development Bank (www.AfDB.org), with support from the Climate Investment Funds (CIF) (http://apo-opa.co/3NaTp3W), is reinforcing its commitment to a just transition across the continent. In line with this commitment, key decision-makers from Ghana, Kenya, Uganda, and Namibia recently gathered in Nairobi…