Egypt secures US$ 114 million financing package for largest solar plant
Wale Ameen
April 23, 2021
Funding comes from a consortium of lenders including European Bank for Reconstruction and Development, OPEC Fund for International Development and the African Development Bank Wale Ameen Online Editor Egypt has secured funding for the construction of its largest solar plant from a consortium of lenders which includes the European Bank for Reconstruction and Development (EBRD), […]
Tightening global financial conditions triggered over $5bn capital outflows from Africa in the first quarter of 2020 – Afreximbank
Charles AbuedeApril 21, 2021
Report by the bank highlights how trade finance will play a key role in transforming the African economy as lifeblood of commerce Charles Abuede A trade finance survey by the African Export-Import Bank (Afreximbank) in collaboration with the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB) and Making […]
New report on COVID-19 impact on African trade finance shows massive capital outflows to $5bn in Q1 2020
BEN EGUZOZIEApril 20, 2021
…African trade amounts to $1,077 bn …Survey done by Afreximbank, UN-ECA, AfDB, MFW4A …185 banks across Africa representing 58% surveyed Ben Eguzozie, with wire copy A new report which looked at the COVID-19 impact on African trade finance shows that the continent experienced massive capital outflows exceeding $5bn by the first […]
IMF says sub-Saharan African will need additional funding of $245bn to remain afloat during the pandemic
Charles AbuedeApril 16, 2021
Charles Abuede The International Monetary Fund (IMF) has stated that the low-income countries within the sub-Saharan African region will need about $245 billion in external funding needs over the next five years of the whole region will need the sum of $425 billion in order to stay afloat and also help boost spending on […]
Greenpeace Africa reacts to East Africa crude oil pipeline deal
Wale AmeenApril 14, 2021
Says project will have harmful impact on global effort on clean energy East Africa needs clean energy that will help preserve its natural heritage Wale Ameen Online Editor In reaction to the news that the East African nations of Uganda and Tanzania along with oil firms Total and CNOOC have signed agreements to […]
World leaders call for expansion of debt suspension to enable low-income countries achieve sustainable economic recovery
Wale AmeenMarch 30, 2021
Meeting called by Prime Minister Justin Trudeau of Canada, Prime Minister Andrew Holness of Jamaica and the UN Secretary-General, Antonio Guterres Achievement of sustainable development goals at risk – United Nations Secretary-General, António Guterres Wale Ameen Several heads of state and governments as well as key figures from the United Nations and […]
Afreximbank, AU move 2nd Intra-African Trade Fair to December 2021
Ben EgozozieMarch 22, 2021
…Covid-19 vaccines roll-out cited for date shift …Inaugural fair recorded $32.6bn concluded deals …Organizers refrain from adducing expected deals Ben Eguzozie The African Export-Import Bank (Afreximbank) and African Union (AU), major promoters of the intra-African trade fair, have shifted the date of the second edition of the recently introduced continental trade exhibition to […]
Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President
Businessam StaffAugust 27, 2020
President Muhammadu Buhari and Ngozi Okonjo-Iweala, former finance minister, have congratulated Akinwunmi Adesina on his re-election for a second term in office as the president of African Development Bank. President Buhari, according to a statement issued by Femi Adesina, special adviser on media and publicity, congratulated Adesina on behalf of the federal executive council and […]
Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy
Paul Wallace and Dulue MbachuJanuary 31, 2019
By Paul Wallace and Dulue Mbachu Presidential hopeful would float naira, sell state oil firm Abubakar’s policies are opposed by President Muhammadu Buhari In Nigeria’s personality-driven politics, there’s usually little differentiating presidential aspirants in terms of ideology or economic policy. Not any more. Atiku Abubakar, the 72-year-old main opposition candidate in next month’s vote, […]
AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy
Adesola AfolabiMay 24, 2018
The African Development Bank (AfDB) said it has scaled up industrialization pace on the continent as it has delivered improved business access to transport, energy and skills in the past year. The development bank made the disclosure Thursday in its Annual Development Effectiveness Review (ADER) released at the Bank’s annual meetings in Busan, South Korea. […]