Tony Elumelu Entrepreneurship Programme Receives $5m Grant From AfDB The board of directors of the African Development Bank has approved a grant of $5m to enable the Tony Elumelu Foundation entrepreneurship programme to scale up its outreach and impact to 1,000 select youth entrepreneurs. The grant...

AfDB Okays $210m For Nigeria’s Power Transmission Projects   The board of the African Development Bank has approved $210m (N64.26bn at the official exchange rate of N306 to $1) for power projects across the country being handled by the Transmission Company of Nigeria. The TCN said on...

AfDB, Investors Working To Close $67bn Deals     Investors and partners of the African Investment Forum are working on closing investment transactions worth $67bn at the second edition of the forum, which kicked off on Monday in Johannesburg. The President, African Development Bank, Dr Akinwumi Adesina, disclosed...

AfDB Governors Convert Energy Fund To Concessional Finance Facility   The African Development Bank’s Board of Governors has approved the conversion of the bank-administered Sustainable Energy Fund for Africa into a ‘special fund’, to amplify its development impact by allowing it to access a wider range...

AfDB Shareholders Approve $115bn Capital Increase   The governors of the African Development Bank, representing shareholders from 80 countries, have approved $115bn increase in capital for the continent’s foremost financial institution. The approval was made at an extraordinary shareholders meeting held on Friday in Abidjan. The capital increase,...

AfDB Announces Largest Capital Increase Of $208bn   The African Development Bank on Thursday announced the largest capital increase in its history, with an almost 125 per cent jump from $93 billion to $208 billion. AfDB President, Akinwumi Adesina, hailed “a historic day” for the bank and...