AfDB Offers SEC $400,000 Grant for Capital Market Devt     The African Development Bank (AfDB) Group last Friday signed a $400,000 grant agreement with the Securities and Exchange Commission (SEC) of Nigeria to strengthen securities markets regulation and broaden market instruments. The funds will go towards strengthening...

AfDB Approves $7m For Mini-grid Programme         The African Development Bank (AfDB) has approved a $7 million grant from the Sustainable Energy Fund for Africa (SEFA) for technical assistance in setting up a mini-grid acceleration initiative to meet the needs of the continent’s fast-evolving renewable mini-grid...

Bol, AfDB, IFAD Approve $2bn For Nigeria’s Agric Project         The Bank of Industry (BoI), African Development Bank (AfDB) and International Fund for Agricultural Development (IFAD) have okayed $2 billion loan to reduce poverty, end hunger and increase resilience to climate change in rural communities around...

AfDB Appoints Two New Executives       The African Development Bank Group has announced the appointment of Dr Alex Mubiru as Director, Strategy and Delivery, in the Office of the President and Ms Yacine Fal as the Director General, Cabinet Office of the President, effective November 1. A...

Fresh World Bank, AfDB, IDB Loans May Raise Nigeria’s Debt To N31.7trn       fresh loan disbursements expected from the World Bank, African Development Bank and Islamic Development Bank may raise Nigeria’s total public debt stock to N31.699tn in coming months. Nigeria currently expects about $1.844bn (N699.1bn at...

Africa’s GDP Could Lose $173.1bn By Year-end, Projects AfDB       The African Development Bank (AfDB), has projected that Africa’s Gross Domestic Product (GDP) could lose about $173.1 billion by year-end, and $236.7 billion in 2021, due to the impact of the on-going COVID-19 pandemic on the...