Africa Can Tap Into New Sources Of Finance, Says IMF     The International Monetary Fund (IMF) says Africa could tap into new sources of finance with radical transparency. Managing Director, IMF, Ms Kristalina Georgieva made the remark during a High Level Knowledge Event of the virtual 2021...

Africa Lost Over $190bn In GDP To COVID-19 – AfDB       President of the African Development Bank Group (AfDB), Dr Akinwumi Adesina, yesterday said the economy of Africa has lost over $190 billion due to the effect of the COVID-19 pandemic. Adesina, during the AfDB’s 2021 virtual...

Despite COVID-19, Africa Records $80bn Diaspora Remittances       Diaspora remittances to Africa as a whole have increased to over $80 billion despite the COVID-19 impact on economies worldwide, and against the backdrop of a fall in remittances worldwide. However, remittances to Nigeria dropped by 27.7 percent in...

W/Bank Okays $3bn For Vaccines In Africa, Others       The World Bank has announced that it has approved $3bn in funding to cover vaccination in 32 countries, 15 of which are in Africa. In a statement issued in advance of the G7 Leaders’ Summit, World Bank Group...

W/Bank To Invest $150bn In Africa       The President of World Bank Group, David Malpass, has said that the bank plans to invest $150 billion in Africa within the next five years towards promoting development on the continent. Malpass disclosed this on Tuesday at the Summit on...

AfDB, European Bank To Bridge $2.5tn Africa’s Financing Gap       The African Development Bank Group and the European Bank for Reconstruction and Development on Monday signed a Memorandum of Understanding to promote sustainable private sector development in Africa. In a statement issued by its Communication and External...