Source: African Development Bank Group (AfDB) |

Ethiopia: African Development Fund approves $165 million grant for national COVID-19 emergency response

The grant, awarded from the country’s ADF-15 Performance-Based Allocation, will help bolster Ethiopia’s COVID-19 National Emergency Response Plan (NERP)

The Board of Directors of the African Development Fund (ADF) on 3 July approved a grant of $165.08 million to support Ethiopia’s response to the health and economic impacts of the COVID-19 pandemic, including helping to ease fiscal pressures on the economy. The grant, awarded from the country’s ADF-15 Performance-Based…

Paxful
Source: Paxful |

Global Marketplace Paxful Taps South African-Born Youth, to help Launch a Global Entrepreneurship Program

Paxful is shining the spotlight on the opportunities the fast-growing bitcoin economy has to offer the youth

In a recent report titled, Workforce of the future 2030 (https://pwc.to/2VGoF0a), PWC contends that by 2030: “Africa will be home to more than a quarter of the world’s population of under 25’s. Under 25’s in total will make up 60% of the continent’s total population. By then, 15% of the…

Source: African Development Bank Group (AfDB) |

African Development Bank joins World Trade Organisation (WTO) and other Multilateral Development Banks (MDB)s to support trade finance amid COVID-19 crisis

Since the beginning of the COVID-19 outbreak, multilateral development banks have stepped up their trade finance programs to support essential imports and key exports

The African Development Bank Group (www.AfDB.org) has joined the World Trade Organisation and other multilateral development banks to reduce trade finance gaps that emerge as a result of the COVID-19 pandemic. In a joint press release (https://bit.ly/38lkzjl) issued 1 July 2020, the institutions said they would prioritize their support to areas…

Source: African Development Bank Group (AfDB) |

Communique of the Bureau of the Boards of Governors of the African Development Bank Group following its meeting of today 1 July 2020 regarding the Whistle-Blowers’ Complaint against the President of the Bank Group

The Bureau expresses its utmost trust and confidence in the Panel’s ability to successfully carry out this important assignment

a) The Bureau recalls its Communiqué issued on June 4th 2020 informing the general public of its decision to authorize an Independent Review of the Report of the Ethics Committee of the Boards of Directors relative to the allegations made by Whistle blowers against the President of the Bank Group.…

Ecobank
Source: Ecobank |

Ecobank Group spearheads new private sector initiative to end malaria

Zero Malaria Business Leadership Initiative supports global movement for malaria elimination in Africa

Today, Ecobank Group (www.Ecobank.com) confirms its commitment to support ending malaria, launching the first-of-its-kind Zero Malaria Business Leadership Initiative in partnership with Dakar-based not-for-profit strategic communications and advocacy organization, Speak Up Africa, and the UN-hosted RBM Partnership to End Malaria. The new programme is set out to drive private-sector engagement…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

In Mozambique, water project boosts yields as farmers grapple with climate extremes

The project provided irrigation kits, constructed boreholes, small dams and water troughs that increased access to water for people and cattle

Felicidade Machava, 60, likes to recount the story about how, one year, she filled a small truck with maize from her harvest.   Machava, is a farmer in Guija district in Mozambique. The country has been experiencing weather volatility in the form of longer and more frequent cyclones and droughts. Extreme…

Honoris United Universities
Source: Honoris United Universities |

Honoris United Universities Welcomes Nile University of Nigeria to its Pan-African Network

Expansion into Nigeria marks a major milestone in Honoris’ mission to provide Education for Impact across the continent

Honoris United Universities (http://Honoris.net/), Africa’s first and largest pan-African network of private higher education institutions, today announced its expansion into West Africa by welcoming Nile University of Nigeria, known for its strong academic credentials and best-in-class faculties, into the network. Established in 2009, Nile University of Nigeria is a fully…

Source: International Monetary Fund (IMF) |

Coronavirus - São Tomé and Príncipe: International Monetary Fund (IMF) Staff Completes a Virtual Extended Credit Facility First Review Mission for São Tomé and Príncipe

The COVID-19 pandemic is expected to cause the economy to contract sharply by 6.5 percent this year

The COVID-19 pandemic is expected to cause a sharp real economic contraction of 6.5 percent in 2020 and raise large health and social needs; Program performance under the Extended Credit Facility (ECF) had a good start, but progress has been hampered by the pandemic and some policy slippages prior to…

Source: International Islamic Trade Finance Corporation (ITFC) |

Joint Statement by heads of multilateral development banks and the World Trade Organization (WTO) on supporting trade finance during the COVID-19 crisis

Since the beginning of the COVID-19 outbreak, multilateral development banks have stepped up trade finance programs to support essential imports and key exports

The COVID-19 pandemic has provoked the deepest economic downturn of our lifetimes. In addition to the ongoing shocks to supply and demand, international trade has been affected by a reduction in the supply of trade finance. Risk perceptions about non-payment in international trade are at the highest levels in a…

Source: African Development Bank Group (AfDB) |

Our journey to electrify the continent: Five years of the New Deal on Energy for Africa (By Dr. Kevin Kariuki)

The NDEA called for a substantial increase in investments to realize the Bank’s High 5 priority to “Light Up and Power Africa”

By Dr. Kevin Kariuki Five years into the African Development Bank’s (https://www.AfDB.org/) ambitious New Deal on Energy for Africa (NDEA), the Bank’s investments are set to provide electricity access to around 13 million people and deliver about 55,000 km of distribution lines, and 6,700 km of transmission lines, of which…