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United Nations Economic Commission for Africa (ECA)

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    • Africa: Finance and foreign ministers call for remaking the international financial system in the interest of developing countries
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Source: United Nations Economic Commission for Africa (ECA) |

Africa: Finance and foreign ministers call for remaking the international financial system in the interest of developing countries

First Preparatory Committee meeting of the Fourth International Conference on Financing for Development concludes in Addis Ababa with renewed focus on bridging gaps in SDG financing and delivering international financial architecture reform

Dozens of finance and foreign ministers met this week to call for radical action to reform the international financial architecture, empower developing countries in international institutions and channel trillions of dollars towards sustainable development in Africa and other developing countries.   Nine years after the historic agreement on financing for development,…

Afreximbank
Source: Afreximbank |

Afreximbank and Câmara de Comércio de Sotavento Partner to Host the 2024 Trade and Business Roadshow in Cape Verde

This landmark event, scheduled for July 29 - 30, 2024, is aimed at diversifying, fostering and supporting the economic growth in Cape Verde

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) and Câmara de Comércio de Sotavento have announced a strategic partnership to host the 2024 Trade and Business Roadshow in Praia, Cape Verde. This landmark event, scheduled for  July 29 - 30, 2024, is aimed at diversifying, fostering and supporting the economic growth in  Cape…

The World Bank Group
Source: The World Bank Group |

Maximizing Returns to Human Capital in Mauritania for Increased Wealth and Shared Prosperity

Closing gender gaps, lack of empowerment of women in the workforce, and access to education and economic opportunities for youth remain critical to maximizing the country's economic potential

The World Bank has released the seventh edition of its Economic Update for Mauritania, which highlights a slowdown in economic growth in 2023, despite strengthened macroeconomic stability. Economic growth declined in 2023 to 3.4% (0.7% in per capita), following a strong expansion of 6.4% (3.7% in per capita) in 2022. This deceleration is…

The World Bank Group
Source: The World Bank Group |

Malawi Economic Monitor Calls for Urgent and Sustained Reforms for Faster and More Inclusive Growth

The coming months will be critical for Malawi to ensure that planned macroeconomic reforms are implemented and fiscal adjustment measures remain on track

Malawi’s current economic difficulties require a combination of immediate response measures and urgent reforms to address longstanding macroeconomic imbalances including persistent and large fiscal deficits, balance-of-payments challenges, unsustainable debt, and price instability, which have weighed on the country’s economy in recent years, according to the latest World Bank Malawi Economic…

International Monetary Fund (IMF)
Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Central African Republic

The positive progress in domestic revenue mobilization since the start of the ECF program continued, reaching a record level of CFAF 80 billion during the first half of this year

The Central African Republic (CAR) continues to implement public finance management and governance reforms, despite the particularly difficult socio-economic context and significant financing needs; In the very short term, the main challenges concern the country's fuel supply and the control of budgetary risks; The implementation of the reforms planned under…

African Development Bank Group (AfDB)

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    • Mrs. Marie-Laure Akin-Olugbade, the Bank’s Vice President for Regional Development, Integration, and Business Delivery (1)
    • Mrs. Marie-Laure Akin-Olugbade, the Bank’s Vice President for Regional Development, Integration, and Business Delivery (2)
    • African Development Bank expresses strong support for African Union (AU) Peace Fund revitalization
    • Mrs. Marie-Laure Akin-Olugbade, the Bank’s Vice President for Regional Development, Integration, and Business Delivery (3)
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Source: African Development Bank Group (AfDB) |

African Development Bank expresses strong support for African Union (AU) Peace Fund revitalization

The Fund has garnered close to its first target of $400 million, primarily from member state contributions

The African Development Bank (www.AfDB.org) has expressed strong support for revitalizing the African Union (AU) Peace Fund, pledging to continue implementing innovative strategies to address fragility and build resilience across the continent. Mrs. Marie-Laure Akin-Olugbade, the Bank’s Vice President for Regional Development, Integration, and Business Delivery, said this during a…

The World Bank Group
Source: The World Bank Group |

New Country Partnership Framework for Cameroon to Focus on More Jobs, and Effective Service Delivery for All

The Framework reflects the strong and growing collaboration between Cameroon and the World Bank Group’s institutions

The World Bank Group (WBG) announced a new Country Partnership Framework (CPF) for Cameroon, which will focus on two high level outcomes: more and better jobs, and more effective and inclusive service delivery institutions, with a special attention to climate and fragility. The new Cameroon CPF covers the FY2025-29 period and…

The World Bank Group
Source: The World Bank Group |

World Bank Group Executive Directors note progress and re-affirm support to South Africa and Namibia

The Board of Executive Directors is responsible for the conduct of the general operations of the Bank, making decisions on loans, credits, grants, policies, and financial matters

A delegation of the World Bank Group’s (WBG) Board of Executive Directors (EDs) noted South Africa’s and Namibia’s progress in achieving their development goals and re-affirmed World Bank Group’s commitment to providing support. The 11 EDs and Alternate EDs were hosted by the World Bank and International Finance Corporation (IFC)…

African Development Bank Group (AfDB)

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    • AfDB President Adesina in a head-to-head conversation with BADEA president Sidi Ould Tah
    • The Arab Bank for Economic Development in Africa's (BADEA) 50th Anniversary: Leaders unite to celebrate success, urge increased Africa-Arab economic collaboration
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Source: African Development Bank Group (AfDB) |

The Arab Bank for Economic Development in Africa's (BADEA) 50th Anniversary: Leaders unite to celebrate success, urge increased Africa-Arab economic collaboration

We need a structured and coordinated partnership that will pool financial resources to address critical issues – Dr. Akinwumi Adesina, African Development Bank

Ghana’s President Nana Akufo-Addo and African Development Bank Group (www.AfDB.org) head Dr. Akinwumi Adesina joined dignitaries from Africa and the Arab world on Sunday for a ‘Leaders’ Breakfast’ celebrating the 50th anniversary of the Arab Bank for Economic Development in Africa (BADEA). The event, held in Accra on the sidelines…

African Development Bank Group (AfDB)

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    • African Development Bank’s Akinwumi Adesina briefs African leaders on Bank’s progress in mobilizing financial resources for the continent (1)
    • African Development Bank’s Akinwumi Adesina briefs African leaders on Bank’s progress in mobilizing financial resources for the continent (2)
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Source: African Development Bank Group (AfDB) |

African Development Bank’s Akinwumi Adesina briefs African leaders on Bank’s progress in mobilizing financial resources for the continent

The year began with the African Development Bank successfully launching a globally acclaimed landmark $750 million hybrid capital, the first ever by a multilateral financial institution

The president of the African Development Bank Group (www.AfDB.org), Dr. Akinwumi Adesina, has outlined the Bank’s successes in mobilizing financial resources for the continent’s development needs at the African Union. Addressing heads of state and government at the 6th Mid-Year Coordination Meeting of the AU in Accra, Ghana, Adesina highlighted the Bank’s…