AfDB

The African Economic Outlook Kenya Country Focus Report, recently unveiled in Nairobi, brings to light critical vulnerabilities within Kenya's economic framework. Through an examination of mismanagement, extensive tax exemptions, and lax oversight mechanisms, the report illustrates how these factors are gradually eroding the nation’s revenue base and stifling its ability to fund essential sectors of growth. Public Spending Inefficiencies and Tax Waivers Take a Toll One of the most striking figures from…

Recent funding from the African Development Bank (AfDB) signifies a pivotal moment for Pretoria, effectively invigorating its broader infrastructure reform agenda. This initiative aims to revitalize public services, address pressing energy constraints, and set the stage for sustainable economic growth in the long run. It’s a move that raises crucial questions: What does this mean for the average South African? Can we truly see a shift in our daily lives as public services improve? The announcement came on a…

Kigali Urban Cable Car Project: A Leap Forward for Public Transportation Exciting news is buzzing from the African Development Bank: a generous grant of $500,000 has been approved to support the feasibility study for the iconic Kigali Urban Cable Car Project. This ambitious initiative is not just a monumental first for Rwanda; it's poised to set a precedent as the first aerial urban transit system in all of sub-Saharan Africa. Spearheaded by Ropeways Transit Rwanda Ltd (RTRL), this…

The Dawn of a New Era in Egyptian Renewable Energy In a significant move towards sustainable energy, the African Development Bank Group's Board of Directors has approved financing of up to $184.1 million for the Obelisk solar project in Egypt. Set against the picturesque landscape of southern Egypt, this venture is on track to become Africa’s largest solar power plant, a testament to the continent's commitment to harnessing renewable resources. Imagine a sprawling solar photovoltaic (PV) facility paired with a…

The African Development Bank (AfDB) has recently been awarded the prestigious "Infrastructure Deal of the Year" title for 2025 by The African Banker Awards. This accolade honors the Bank's pivotal role in financing the landmark 1.1 GW Suez Wind Power Project in Egypt, the largest wind energy initiative on the African continent to date. The announcement came during the African Development Bank Group’s Annual Meetings in Abidjan, Côte d’Ivoire, poignantly underscoring the institution's leadership and its…

The Africa Carbon Support Facility: A Step Towards Sustainable Growth In a world increasingly aware of its environmental footprint, the Africa Carbon Support Facility (ACSF) emerges as a beacon of hope for African nations. Currently in its design phase, this initiative boasts two pivotal components aimed at reshaping the landscape of carbon trading on the continent. How can a simple concept like carbon credits catalyze monumental change? Let's dive deep into this transformative endeavor. The first component of ACSF is…

A New Era for AfDB: Sidi Ould Tah Steps Up In a significant development for African finance, Sidi Ould Tah from Mauritania has been elected as the new President of the African Development Bank (AfDB) Group. This decision was made during the Bank’s Annual Meetings in Abidjan, Côte d’Ivoire. As an observer of this pivotal moment, one might ask: what does this mean for the future of development in Africa? Stepping into this crucial role, Tah will inherit the leadership from outgoing…

The African Development Bank (AfDB) has made a remarkable announcement: a record $11.1 billion in new investments is earmarked for 2024–2025. This pivotal information surfaced in the latest Annual Development Effectiveness Review, a detailed analysis of the Bank's footprint over the past year in fostering development throughout Africa. Such a financial commitment represents the highest in the Bank's history, further solidifying its role as a cornerstone supporter of Africa's developmental aspirations. It's a…

Mogadishu (AX) — Somalia stands at a critical juncture. The country risks losing millions in unspent reform funds unless it accelerates a much-needed governance overhaul supported by the African Development Bank (AfDB). It's a timely reminder of how the window for progress can close faster than we anticipate. Eighteen months into the $13 million Institutional Support for Economic Governance Project (ISEGP), only 15.2% of the funds have been utilized. This dismal pace has left federal finance officials scrambling to triple…

In a world where development is often stymied by bureaucratic inertia, Sidi Ould Tah, the former Finance Minister of Mauritania, stands at the precipice of change. As he sets his sights on the presidency of the African Development Bank (AfDB), his vision for reform promises not just a shift in policy but a fundamental evolution in how the institution operates. Tah's aspirations will take center stage during the upcoming Board of Governors meeting in Abidjan, where critical decisions affecting the financial landscape of the…