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Tag Archives: African Development Bank

AfDB Joins TEF Programme Catalysing Entrepreneurship Across Africa

Tony Elumelu has congratulated the African Development Bank (AfDB), and AfDB President Akinwumi Adesina, on their commitment to African entrepreneurship, with the disbursement of $2.5million seed capital to the AfDB-sponsored beneficiaries of the 2019 TEF Entrepreneurship Programme. $2.5m was released today, with the remainder expected to be disbursed to the entrepreneurs in Q12020. The AfDB commitment follows the recent $8.5 million ...

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ECOWAS approves a second term for Akinwumi Adesina as AfDB President

The Economic Community of West African States (ECOWAS) has endorsed the candidacy of African Development Bank President, Akinwumi Adesina for a second term at the helm of the institution. The decision was announced at the end of the fifty-sixth ordinary session of the Authority of Heads of State and Government of ECOWAS, held on Saturday in Abuja, Nigeria. “In recognition ...

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AfDB to release a $210m loan to save Nigeria’s Power Sector, Will it work?

A few days ago, the Africa Development Bank (AfDB) Group approved a loan of $210 million to the Federal Republic of Nigeria for the financing of the Nigeria Transmission Expansion Project (NTEP1). Electricity transmission and supply is one subject that touches a nerve with many Nigerians. Inconsistent supply and blackouts reduce the standard of living of many citizens, and the ...

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AfDB introduces Fintech Fund to Expand Digital Financial Inclusion in Africa

The African Development Bank (AfDB) is continuing in its drive to provide funds for the development of the continent. The multilateral development bank has announced the launch of the Africa Digital Financial Inclusion Facility (ADFI) to improve and expand digital financial transactions across Africa. The new fund was launched at the bank’s annual meetings and has the Bill & Melinda Gates Foundation, the Agence ...

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African Development Bank, Mariner Investment Group, and Africa50 Price Landmark $1 Billion Impact Securitization

The African Development Bank, the European Commission, Mariner Investment Group, LLC (Mariner), Africa50, and Mizuho International plc today announce the pricing of Room2Run, a US $1 billion synthetic securitization corresponding to a portfolio of seasoned pan-African credit risk. Room2Run is the first-ever portfolio synthetic securitization between a Multi-Lateral Development Bank (MDB) and private sector investors, pioneering the use of securitization ...

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