Housing Demand in Africa will Create $1.4trn Investment Opportunity by 2050 – AfDB President of African Development Bank (AfDB), Akinwumi Adesina, says Africa presents a unique investment opportunity that cannot be ignored. Adesina spoke at the opening ceremony of the 2024 Africa Investment Forum (AIF) Market...

African Countries Pay 500% More on Global Debt – AfDB African nations are grappling with a staggering 500 per cent increase in debt servicing costs when borrowing from global markets. The African Development Bank’s Vice President and Chief Economist, Prof Kevin Urama, said this at the...

AfDB to Produce 120m tonnes of Additional Food by 2025 The African Development Bank (AfDB) has revealed plans to produce an additional 120 million tonnes of food by 2025. This announcement was made by the Director General of the AfDB Nigeria Country Department, Abdul Kamara, during...

Multilateral Banks’ Climate Financing Now $125bn – AfDB   Multilateral development banks, including the African Development Bank, have reported that their combined financing for climate action reached a record $125bn in 2023. In a statement issued on Monday, AfDB said the findings were from the Joint Multilateral...

AfDB Launches $2bn in New Social Bond Issue The African Development Bank (AfDB) has announced the successful launch and pricing of a new $2bn five-year social benchmark bond, which is set to mature on September 18, 2029. A social benchmark bond is a type of bond...

Nigeria Secures $500m Loan To Support Energy Transition Programme The African Development Bank (AfDB) Group has approved a loan of $500 million to Nigeria to finance the first phase of the economic governance and energy transition support programme (EGET-SP). EGET-SP is an initiative aimed at accelerating...