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...

AfDB To Invest $3bn In Africa’s Pharmaceutical Industry         The African Development Bank (AfDB) has said it would invest 3 billion dollars to build Africa’s pharmaceutical industry in the next 10 years. President of the AfDB, Dr Akinwumi Adesina, said this at a virtual Finance in Common...

U.S. To Increase Africa’s Yearly Development Finance To $6bn       The United States of America (USA) plans to increase its annual development finance to Africa by 20 per cent from about $5 billion to some $6 billion. Chief Operating Officer, U.S. International Development Finance Corporation (DFC), David...