AFRICA DEVELOPMENT BANK APPROVED FINANCING PROGRAM FOR DESCOs

AFRICA DEVELOPMENT BANK APPROVED FINANCING PROGRAM FOR DESCOs

Sub-Saharan Africa need funds for electricity production but will financial providers stop worrying about political, regulatory and administrative barriers?

Sub-Saharan Africa’s energy systems face an enormous challenge due to low electricity generated. This has made Africa Development Bank (AfDB) to approve an innovative multinational financing program for Distributed Energy Service …

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SOUTH SUDAN WATER PROJECT TO GET US$24.7m FROM AFDB

SOUTH SUDAN WATER PROJECT TO GET US$24.7m FROM AFDB

AfDB to finance South Sudan water and sanitation project with US$24.7m

To support a developmental project in South Sudan, African Development Bank (AfDB) board of directors have approved a commitment of US$24.7m. The project receiving AfDB finance is titled South Sudan Strategic Water Supply and Sanitation Improvement Project.

The project …

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AFDB PREPARE FINANCIAL PACKAGE FOR ZIMBABWE

AFDB PREPARE FINANCIAL PACKAGE FOR ZIMBABWE

AFDB to prepare financial package for Zimbabwe after impressive economic reform

Africa development Bank has set up a plans to help Zimbabwe. The financial package comes as a result of the nation impressive political and economic reforms.

Speaking during the 54th Meeting of Boards of Governors of the AfDB, Dr …

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AFDB PLEDGE MORE SUPPORT TOWARDS INFRASTRUCTURE IN AFRICA

AFDB PLEDGE MORE SUPPORT TOWARDS INFRASTRUCTURE IN AFRICA

AFDB plans support for regional integration among Africa countries with investment in infrastructure, industrialisation and trade.

African Development Bank (AFDB) has announce plans to support African countries towards achieving deeper regional integration. This will be through investment in regional infrastructure development, industrialisation and trade.

Speaking during the 54th AFDB …

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SOMALIA TO RECEIVE €1 MILLION EUROS FOR INFRASTRUCTURE DEVELOPMENT

SOMALIA TO RECEIVE €1 MILLION EUROS FOR INFRASTRUCTURE DEVELOPMENT

Italian government issues €1 million euros for Somalia infrastructure development.

Somalia government is set to receive funds which will help grow the country Infrastructure. This is after Italian government signed a deal with African Development Bank (AfDB) Multi-Partner Somalia Infrastructure Fund. The fund is worth €1 million euros.

Somalia is …

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TANZANIA PRESIDENT UNHAPPY WITH LOAN CONDITION FROM FINANCING AGENCIES

TANZANIA PRESIDENT UNHAPPY WITH LOAN CONDITION FROM FINANCING AGENCIES

President John Magufuli unhappy with loans condition but assures that they can repay the money.

President John Magufuli is unhappy with the loan condition set by some multilateral financing agencies. According to him Tanzania has the resource to pay, but that the loan is getting to much.

The President made …

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KENYA THWAKE DAM GETS US$235M LOAN FROM AFDB

KENYA THWAKE DAM GETS US$235M LOAN FROM AFDB

Africa development bank (AFDB) approve two loans for the completion of Thwake dam in Kenya.

Africa development bank (AFDB) is making wave this period with its latest offer to Kenya. After releasing its AIIF3 just a couple of days ago, the firm has also approve two loans to Kenya. This …

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AFRICAN NATIONS TO GET US$40M FROM AFDB FOR INFRASTRUCTURE DEVELOPMENT

AFRICAN NATIONS TO GET US$40M FROM AFDB FOR INFRASTRUCTURE DEVELOPMENT

AFDB plans to release US$40m under the Africa Infrastructure Investment Fund (AIIF) to its Regional offices in Africa.

Developing Africa infrastructure is vital if the continent wants to reach the peak of its development. This is why Africa Development Bank (AFDB) is spurring sustainable development and social progress in the …

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AFDB APPROVE LOAN FOR KAMPALA-JINJA EXPRESSWAY PROJECT IN UGANDA

AFDB APPROVE LOAN FOR KAMPALA-JINJA EXPRESSWAY PROJECT IN UGANDA

AFDB approves loan for Kampala-Jinja Expressway project in Uganda.

Uganda has receive a loan worth US$229.5 million from the African Development Bank. This loan is to help finance phase one of the Kampala-Jinja Expressway project.

Meanwhile, the aim is to help Uganda reinforce its position as a regional transit hub. …

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NAMIBIA MINISTER FOR FINANCE ASK AFDB TO STOP PROJECT TENDER

NAMIBIA MINISTER FOR FINANCE ASK AFDB TO STOP PROJECT TENDER

Namibia Minister ask AFDB to hold tender process for major projects in the nation.

Minister for Finance, Calle Schlettwein has ask African Development Bank to stop the tender process for the rail and road project. This is as a result of dispute that the project will only favour foreign firm.…

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GHANA GET US$1.5M FROM AFDB FOR ENERGY EFFICIENCY

GHANA GET US$1.5M FROM AFDB FOR ENERGY EFFICIENCY

AFDB give Ghana US$1.5m as part of its plans to develop Africa’s energy deficits.

Ghanaian government has receive the sum of US$1.5m for its energy sector. This funds is from the African Development Bank Group (AFDB) with will help support the nation for energy generation. It will also help Ghana …

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AfDB : US$ 30m TO CONCLUDE CONNECTIVITY IN KENYA POWER SECTOR.

AfDB : US$ 30m TO CONCLUDE CONNECTIVITY IN KENYA POWER SECTOR.

Kenya Power will see its funding for the Last Mile Connectivity Project doubled by African Development Bank (AfDB).

AfDB gives Kenya US $30m for the first phase and second phase one of the Last Mile project money.  The funds will cover 600,000 Kenyan households connected to electricity with 314,000 targeted …

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AFDB INVESTS US $12Bn IN NIGERIA POWER SECTOR.

AFDB INVESTS US $12Bn IN NIGERIA POWER SECTOR.

The African Development Bank has revealed plans to invest US $12bn in Nigeria’s energy programme.

AfDb President Akinwumi Adesina,confirmed the statement during the inaugural edition of the Africa Energy Market Place.  Therefor there is need to act speedily to accelerate the plans to light up and power Africa.

“The …

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AfDB AWARDS BEST AFRICAN FINANCE MINISTER TO GHANA

AfDB AWARDS BEST AFRICAN FINANCE MINISTER TO GHANA

Ghana Finance Minister receives African Finance Minister of the year award.

At the annual meeting of the African Development Bank (AfDB) in Busan, South Korea, Ghana’s Finance Minister, Ken Ofori-Atta was named African Finance Minister of the year.

This award is in recognition of the recent positive performance of Ghana’s …

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AfDB APPROVES U$1.5m SOLAR POWER PROJECT GRANT IN NORTHERN NIGERIA

AfDB APPROVES U$1.5m SOLAR POWER PROJECT GRANT IN NORTHERN NIGERIA

Jigawa State Solar power progamme gets US$1.5m grant from AfDB.

The US$1.5m grant for the implementation of Jigawa state “One Giga Watt (GW) Independent Power Producer (IPP) Solar Procurement Programme”, have received approval from the African Development Bank (AfDB).

The approval shows the  commitment of the bank towards developing renewable …

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TANZANIA SEEKS AID FROM AfDB FOR MEGA PROJECTS

TANZANIA SEEKS AID FROM AfDB FOR MEGA PROJECTS

Tanzania turn to AfDB for Power and Airport projects funding

Tanzania President Magufuli said that the country is in talks with the African Development Bank (AfDB) to finance two mega projects. These projects are Stiegler’s Gorge hydroelectric plant project and the modernization of Dodoma Airport.

According to the president, the …

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TANZANIA SEEK SUPPORT FOR POWER PLANT PROJECT

TANZANIA SEEK SUPPORT FOR POWER PLANT PROJECT

Tanzania Government seek fund for power plant project from AfDB.

Tanzania Government is seeking for fund from African Development Bank(AfDB) for its power plant project. President John Magufuli request for the support from AFDB, During a talk on Tanzania’s administrative capital Dodoma.

AFDB has received the request and is currently …

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AFDB SIGN US$94.52M CONTRACT FOR UGANDA ROAD PROJECT

AFDB SIGN US$94.52M CONTRACT FOR UGANDA ROAD PROJECT

AFDB loans US$94.52m to uganda for the Kapchorwa-Suam-Kitale and Eldoret Bypass Roads Project.

Africa Development bank(AFDB) held a meeting with uganda government about the construction of a major road project in the nation that will help the country construction sector. The contract was signed after the meeting and a loan …

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AfDB REWARDS NIGERIA AS LARGEST REGIONAL SHAREHOLDER

AfDB REWARDS NIGERIA AS LARGEST REGIONAL SHAREHOLDER

AfDB sets up state-of-the-art ‎office complex, to consolidate Nigeria as largest regional shareholder.

According to the communications department of the ‎African Development Bank (AfDB), the bank‎ has rewarded Nigeria as the bank’s largest regional shareholder by setting up a state-of-the-art ‎office complex, which will be commissioned by President Muhammadu Buhari …

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