COVID-19: AfDB raises $3 billion to alleviate social and economic impact

The African Development Bank has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies. The Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank treasuries, and asset managers including […]

“You’ve been in the trenches with us”-Vice President Bawumia tells African Development Bank

The African Development Bank’s support for the west African nation Ghana has boosted its government’s efforts to consolidate the economy, the country’s Vice President, Mahamudu Bawumia said on Monday. Dr. Bawumia, welcoming a team of Executive Directors and senior officials of the Bank on an official visit, cited various Bank-supported projects, especially in the areas […]

African Union Executive Council endorses African Development Bank President Adesina for second term

The Executive Council of the African Union has supported Dr. Akinwumi Adesina’s candidacy for a second term as President of the African Development Bank. The decision was taken during the thirty-sixth Ordinary Session of the AU Executive Council, held during the AU Summit in Addis Ababa, Ethiopia, 6-7 February 2020. can report that Mr. […]

African Development Bank rebuts World Bank President’s comments on Africa’s debt profile

In several news reports, World Bank President David Malpass was recently quoted as saying some Multilateral Development Banks, including the African Development Bank have a tendency to lend too quickly and in the process, add to the continent’s debt problems. This statement is inaccurate and not fact based. It impugns the integrity of the African […]

African Economic Outlook 2020: AfDB rolls out blueprint to address human capacity gap in Africa

The report reminds us of the size of the investment that must be made in the development of human capital in Africa.” – Victor Harison, the African Union Commissioner for Economic Affairs; “If the recommendations in the African Economic Outlook are implemented, there is no stopping the continent.” – Caleb Meakins, social entrepreneur, global campaigner […]

African Development Bank to present African Economic Outlook 2020 at 33rd African Union Summit

The Africa Development Bank (AfDB) will be presenting the African Economic Outlook 2020 at the 33rd African Union Summit, scheduled for Addis Ababa, Ethiopia on Friday, February 7, 2020. reports that the African Development Bank and the African Union Commission will jointly host a side event to present the 2020 edition of the Bank’s […]

“Teach Africa’s young people smart solutions’’- says founder of Green Girls, at launch of 2020 African Economic Outlook

African governments must foster innovation and provide hands-on education solutions to young people if the continent is to beat the challenges of the next decade and meet global development targets. “Reality on the ground and the statistics do not meet, they are on parallel lines. There’s more of cram work in our educational system than […]

AfDB report urges new skills for young people to meet needs of 21st century labour market

“Youth must be prepared for the jobs of the future – not the jobs of the past,” African Development Bank President Akinwumi Adesina said on Thursday at the launch of the Bank’s flagship African Economic Outlook. “Given the fast pace of change, driven by the 4th industrial revolution – from artificial intelligence to robotics, machine learning, […]

“Nobody eats GDP” says African Development Bank President as he calls for inclusive growth

Africa’s economies are growing strongly, but growth alone cannot meet the needs of the continent’s poorest citizens, because “nobody eats GDP,” the African Development Bank’s President, Akinwumi Adesina, said as he unveiled the Bank’s flagship economic report on Thursday. The 2020 African Economic Outlook (AEO) showed that the continent’s economies are growing well, higher than the global […]