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Tag: African Development Bank Group

  • World Bank Group and Global Energy Alliance Partner to Expand Productive Use of Energy Across Africa

    World Bank Group and Global Energy Alliance Partner to Expand Productive Use of Energy Across Africa

    …New Center of Excellence initiative aligned with Mission 300 will link electrification with agriculture and enterprise to create jobs, support local economic growth and strengthen energy systems

    The Global Energy Alliance for People and Planet (Global Energy Alliance) and the World Bank Group have announced a new partnership to support the productive use of energy across Africa through a regional Center of Excellence based in Nairobi, Kenya. The Center will provide knowledge and capacity building to help countries strengthen the economic impact of electrification by better linking electricity access with agriculture, small enterprises and other productive activities that can increase incomes, create jobs and strengthen local economies.

    Africa has made significant progress expanding electricity access over the past decade, but hundreds of millions of people still lack access. Mission 300, an initiative led by the World Bank Group and the African Development Bank Group with support from The Rockefeller Foundation, Sustainable Energy for All and Global Energy Alliance, aims to connect 300 million more people to electricity by 2030. More than 45 million people have already been connected to electricity since July 2023.

    “This new Center of Excellence will be instrumental in helping countries unleash the full promise of Mission 300,” said Dana Rysankova, Lead Energy Specialist at the World Bank Group, “Greater promotion and adoption of productive uses of energy will complement household connections to lift people out of energy poverty, improve livelihoods, and create economic opportunities and jobs.”   

    As access expands, the next challenge is ensuring that electricity supports livelihoods and economic activity across households, businesses and communities. Across many countries, energy consumption remains limited to basic needs such as lighting and phone charging. Without stronger links to productive activities, energy demand remains low, energy systems remain underutilized and costs remain high. This weakens project economics and limits investment at scale.

    Efforts to advance productive use of energy often remain fragmented and insufficiently connected to sectors such as agriculture, small enterprise, healthcare and education, where energy access can drive meaningful gains in income, productivity and resilience.

    “Expanding access to electricity is only the beginning. What matters is what that energy makes possible in people’s lives,” said Makena Ireri, Managing Director of Powering Opportunity, Global Energy Alliance.When a farmer can process and store crops, or a small business can power equipment and grow, energy access becomes an economic opportunity. This partnership will help strengthen the links between electrification, agriculture and enterprise so that energy access translates into more jobs, growing incomes and stronger local economies.”

    The new partnership will address these gaps by supporting governments and development partners in integrating the productive use of energy into national electrification planning and implementation, while strengthening links between energy access and key economic sectors. It will also improve coordination across public and private partners to help scale productive use initiatives across countries.

    Areas of collaboration will include technical assistance, knowledge sharing, coordination across partners, and support for businesses and local market development. The work will also support implementation through the Mission 300 National Energy Compacts and Compact Delivery and Monitoring Units (CDMUs) in participating countries.

    The initiative will focus on four core areas: supporting delivery through embedded technical expertise within National Energy Compacts; developing practical tools, data and knowledge products for policymakers, investors and practitioners; strengthening coordination across funding, programs and investment pipelines; and supporting businesses through improved access to finance and market opportunities.

    Through this approach, the partnership aims to strengthen national programs that reach smallholder farmers, MSMEs and underserved communities. It will also generate open-access knowledge, strengthen market linkages and build capacity within governments and delivery institutions across more than 20 countries. By leveraging National Energy Compacts and CDMUs, the partnership will strengthen delivery, improve coordination and help translate electrification into measurable economic outcomes.

  • Multinational: African Development Bank’s Sustainable Energy Fund for Africa Approves $5.65 Million to Pioneer New Climate Finance Instrument for Off-Grid Renewable Energy projects in Africa’s Fragile States

    Multinational: African Development Bank’s Sustainable Energy Fund for Africa Approves $5.65 Million to Pioneer New Climate Finance Instrument for Off-Grid Renewable Energy projects in Africa’s Fragile States

    …Innovative Peace Renewable Energy Certificate (P-REC) Aggregation facility to unlock new hard-currency revenue for mini-grids, targeting 856,000 people across 14 frontier countries

    The African Development Bank Group’s Board of Directors has approved a $5.65 million reimbursable grant from the Sustainable Energy Fund for Africa (SEFA) to pilot the Peace Renewable Energy Certificate (P-REC) Aggregation Facility, a pioneering initiative that will, for the first time, deploy renewable energy certificates as a direct funding instrument for a portfolio of mini-grids across Africa’s most fragile and energy-poor countries.

    Co-financed with the Nordic Development Fund, which committed an equivalent of $5.65 million, the $11.3 million facility will be managed by Camco Clean Energy, a climate and impact fund manager, and Energy Peace Partners, a US-registered non-profit that developed the Peace Renewable Energy Certificate label. The certificates come exclusively from small-scale mini-grid projects in conflict-affected and energy-poor communities, and are voluntarily purchased by multinationals looking to put their corporate sustainability spending where it drives the greatest social and environmental impact.

    The facility will enter into long-term purchase agreements with qualifying mini-grid developers across 14 frontier countries—Burundi, Central African Republic, Chad, the Democratic Republic of Congo, Ethiopia, Liberia, Mali, Niger, Nigeria, Sierra Leone, Somalia, South Sudan, Sudan, and Uganda. It will provide developers with upfront cash payments in exchange for the rights to the certificates produced by the project. The facility will subsequently sell those certificates to global corporate buyers, channelling hard currency back to developers in markets where commercial financing is very limited.

    Some 856,000 people across these 14 countries are expected to gain first-time access to reliable electricity as a result, roughly half of them women, through approximately 240,000 new connections and 71 megawatts of new renewable energy capacity.

    The project is fully aligned with Mission 300, the joint African Development Bank and World Bank initiative to connect 300 million Africans to electricity by 2030. NDF is contributing to the ambitious energy access targets of Mission 300 through their sizable renewable energy portfolio and as a member of the Development Partner Coordination Group.

    “Lack of access to capital for rural electrification continues to be a major hurdle for universal energy access in the African continent, particularly in countries experiencing conflicts and fragility.  I am proud that SEFA is backing this innovative, first-of-a-kind facility testing a new climate finance product capable of unlocking new sources of commercial funding for private sector led mini-grids. This is the kind of market-making needed to advance Mission 300 objectives.” João Duarte Cunha, Manager, Renewable Energy Funds Division and Sustainable Energy Fund for Africa, African Development Bank Group

    “Countries in Sub‑Saharan Africa facing fragile and conflict‑affected situations urgently need support and access to clean, reliable energy solutions. At NDF, we are proud to contribute to the Innovative Peace Renewable Energy Certificate (P‑REC) Aggregation Facility, which helps bring small‑scale, off‑grid renewable energy to communities with no, limited or disrupted energy access. By supporting this initiative, we also strengthen the role of Nordic climate leadership—working in partnership, through innovation and responsibility, to advance sustainable energy solutions where they are needed most.” Satu Santala, Managing Director, Nordic Development Fund (NDF)

    “PAF will provide additional low-cost, non-dilutive capital to energy access projects in fragile states. In doing so, it will provide more communities with access to the benefits of clean energy, boosting jobs, opportunities, and living standards. Camco is pleased to be working with EPP, SEFA and NDF on this important initiative.” Geoff Sinclair, CEO, Camco

    “The majority of people on the continent without access to electricity live in fragile and conflict-affected countries where renewable energy projects can have outsize impacts – improving health, education, safety and security outcomes. The P-REC Aggregation Facility, based on EPP’s Peace-REC label, can accelerate that transition by converting corporate climate ambition into upfront capital for renewable energy developers who would otherwise struggle to close their projects.” Sherwin Das, Managing Director, Energy Peace Partners

  • AfDB Group and African Union renew push for visa-free travel to accelerate Africa’s Economic Transformation

    AfDB Group and African Union renew push for visa-free travel to accelerate Africa’s Economic Transformation

    …Participants concluded that achieving a visa-free Africa will require aligning migration policies, digital identity systems, and border infrastructure, alongside sustained political commitment

    African policymakers, business leaders, and development institutions have renewed calls for visa-free travel across the continent, describing the free movement of people as essential to unlocking Africa’s economic transformation under the African Continental Free Trade Area (AfCFTA).

    The call was reinforced at a High-Level Symposium on Advancing a Visa-Free Africa for Economic Prosperity, co-convened by the African Development Bank Group and the African Union Commission on the margins of the 39th African Union Summit of Heads of State and Government in Addis Ababa.

    Participants framed mobility as the missing link in Africa’s integration agenda, arguing that while tariffs are falling under AfCFTA, restrictive visa regimes continue to limit trade in services, investment flows, tourism, and labour mobility.

    Alex Mubiru, Director General for Eastern Africa at the African Development Bank Group, said that visa-free travel, interoperable digital systems, and integrated markets are practical enablers of enterprise, innovation, and regional value chains to translate policy ambitions into economic activity.

    “The evidence is clear. The economics support openness. The human story demands it,” he told participants, urging countries to move from incremental reforms to “transformative change.”

    Amma A. Twum-Amoah, Commissioner for Health, Humanitarian Affairs and Social Development at the African Union Commission, called for faster implementation of existing continental frameworks, describing visa openness as a strategic lever for deepening regional markets and enhancing collective responses to economic and humanitarian crises.

    Former AU Commission Chairperson, Nkosazana Dlamini-Zuma, reiterated that free movement is central to the African Union’s long-term development blueprint, Agenda 2063. “If we accept that we are Africans, then we must be able to move freely across our continent,” she said, urging member states to operationalise initiatives such as the African Passport and the Free Movement of Persons Protocol.

    Ghana’s Trade and Industry Minister, Elizabeth Ofosu-Adjare, shared her country’s experience as an early adopter of open visa policies for African travellers, citing increased business travel, tourism, and investor interest as early dividends of greater openness.

    The Symposium also reviewed findings from the latest Africa Visa Openness Index, which shows that more than half of intra-African travel still requires visas before departure – seen by participants as a significant drag on intra-continental commerce.

    Mesfin Bekele, Chief Executive Officer of Ethiopian Airlines, called for full implementation of the Single African Air Transport Market (SAATM), saying aviation connectivity and visa liberalisation must advance together to enable seamless travel.

    Regional representatives, including Elias Magosi, Executive Secretary of the Southern Africa Development Community, emphasised the importance of building trust through border management and digital information-sharing systems.

    Gabby Otchere Darko, Executive Chairman of the Africa Prosperity Network, urged governments to support the “Make Africa Borderless Now” campaign, while tourism campaigner Ras Mubarak called for more ratifications of the AU Free Movement of Persons protocol.

    Participants concluded that achieving a visa-free Africa will require aligning migration policies, digital identity systems, and border infrastructure, alongside sustained political commitment.

    In a symbolic gesture, attendees signed a “passport wall,” signalling support for accelerated reforms to make movement across African borders easier for citizens.

    The African Development Bank Group and the African Union Commission said they will continue working with member states and regional bodies to advance coordinated approaches to mobility – seen as a cornerstone of Africa’s integration, competitiveness, and long-term growth.

  • Mega Abidjan-Lagos Corridor Project Enters Operational Phase with Launch of Governing Board

    Mega Abidjan-Lagos Corridor Project Enters Operational Phase with Launch of Governing Board

    …Stretching 1,028 kilometres, the Abidjan-Lagos Corridor Highway is envisioned as a transformative regional infrastructure linking five West African economies and serving as a key industrial and trade driver by 2030

    The Economic Community of West African States (ECOWAS) and the African Development Bank Group held a two-day orientation and information session in Abidjan to induct the 10-member Board of Directors of the Abidjan-Lagos Corridor Management Authority (ALCoMA).

    The session, held on 19 and 20 February 2026, forms part of the operational rollout of the Authority following the Board’s official swearing-in in December 2025 during the 22nd Ministerial Steering Committee meeting of the Abidjan-Lagos Corridor Highway Development Project.

    Participants were introduced to the Corridor Treaty, which sets out the project’s vision, supranational status, and strategic objectives endorsed by the Heads of State of Côte d’Ivoire, Ghana, Togo, Benin and Nigeria. The programme also reviewed findings from technical studies of the planned highway, alongside presentations on trade and transport facilitation, spatial development initiatives, value chains, logistics systems, and anchor economic hub projects.

    Board members examined the institutional and legal framework governing the corridor project, including the treaty, intergovernmental agreements, and draft international instruments establishing both the highway and its management authority. The Board also undertook an initial review of its rules of procedure, charter, and the recruitment process for the Director General, administrators, and technical staff.

    Leading the ECOWAS delegation, Chris Appiah, Director of Transport, underscored the importance of the integrated economic corridor model that combines infrastructure development with trade facilitation and socio-economic advancement. He urged stakeholders “to spare no effort to make this project a reality in the near future,” noting that a seamless cross-border highway would accelerate the region’s development.

    Mike Salawou, Director for the Infrastructure and Urban Development Department at the African Development Bank Group, commended ECOWAS and participating countries for operationalising the Authority and reaffirmed the Bank’s role as mandated lead arranger.

    He said the Bank would work alongside the ECOWAS Bank for Investment and Development (EBID) and other partners to mobilise financing for the project. “Our fellow citizens are waiting for us to move along this corridor, to carry out their socioeconomic activities and facilitate trade in our sub-region,” he stated.

    As part of the session, delegates visited the fourth-largest bridge project in Abidjan that has significantly eased congestion, particularly for residents of Yopougon, the country’s most populous municipality with an estimated two million inhabitants. The African Development Bank Group mobilised about €600 million for the project, leveraging additional support from the Japan International Cooperation Agency (JICA) and the Global Environment Facility, which contributed €103 million and €6.4 million, respectively.

    Stretching 1,028 kilometres, the Abidjan-Lagos Corridor Highway is envisioned as a transformative regional infrastructure linking five West African economies and serving as a key industrial and trade driver by 2030. The Bank Group has played a catalytic role in the project’s preparation, providing technical assistance and $25 million in early-stage support as feasibility and structuring activities near completion.

  • University of Gambia Re-Names Faculty of Agriculture and Environmental Sciences in his honour of Akinwumi Adesina

    University of Gambia Re-Names Faculty of Agriculture and Environmental Sciences in his honour of Akinwumi Adesina

    …The historic occasion recognized and immortalized Adesina’s name, leadership, contributions to Africa, and his visionary role in the transformation of agriculture and food security on the continent

    The President of the Republic of The Gambia, President Adama Barrow has unveiled a plaque renaming the University of Gambia’s School of Agriculture and Environmental Services as Dr. Akinwumi A. Adesina School of Agriculture and Environmental Services. The historic occasion recognised and immortalised Adesina’s name, leadership, contributions to Africa, and his visionary role in the transformation of agriculture and food security on the continent.

    Adesina, whose tenure as President of the African Development Bank Group (2015 to 2025), was marked by strategic development gains across the continent, pioneered a transformative High 5 program to Light Up and Power Africa, Feed Africa, Integrate Africa, Industrialize Africa and Improve the quality of life of the people of Africa. According to the Bank’s data, the program impacted on the lives of over 535 million people. 

    Under his  leadership, the African Development Bank’s capital rose from $93 billion to $318 billion, the highest in the history of the Bank. The institution won several  global accolades including the most transparent financial institution in the world, and best multilateral development bank in the world, while maintaining its AAA  credit rating by global credit rating agencies.

    Under Adesina’s leadership, the African Development Bank launched the Feed Africa strategy to transform agricultural sector and food production, which provided food security for over 104 million people. 

    In The Gambia, fulfilling a decades-old dream since independence in the 60s, the Bank, under Adesina’s leadership, financed a now iconic and historic landmark bridge connecting The Gambia and Senegal. The new bridge seamlessly cuts travel time between both countries by hours and  boosts trade and regional integration.

    The decision of the Government of The Gambia and the University of The Gambia was communicated in a letter dated 27th November 2025 by the Honorable Minister of Higher Education, Research, Science and Technology, Professor Pierre Gomez, who said, “Your tenure as President of the African Development Bank has been transformative, driving economic growth, poverty reduction and sustainable development across Africa. Your leadership in launching the Feed Africa Strategy and the Technologies for African Agricultural Transformation (TAAT) initiative has revolutionized agricultural productivity and food security, empowering millions of smallholder farmers and enhancing climate resilience.

    The citation adds, “Beyond your tenure at the African Development Bank, your pioneering reforms as Nigeria’s Minister of Agriculture laid a foundation for modernizing the agricultural sector, boosting food production, and creating economic opportunities. Your tireless advocacy for leveraging agriculture as a catalyst for industrialization, job creation, and youth empowerment continues to inspire policies across the continent.”

    Recognizing Adesina’s exceptional leadership, and his belief in the transformative power of Africa talent and ingenuity, the University said, “By naming our School of Agriculture and Environmental Sciences in your honor, we seek to immortalize your legacy and inspire our students to emulate your vision, determination, and passion for Africa’s development This decision reflects our profound appreciation for your exceptional leadership and enduring belief in the transformative power of African talent and ingenuity”. 

    In a  letter of appreciation to President Barrow, Adesina said, “It is with great humility and a deep sense of gratitude that I write this letter to express to you my immense appreciation of the exceptional honour you have conferred on me, with the renaming of the School of Agriculture and Environmental Sciences at the University of The Gambia as “Dr. Akinwumi A. Adesina School of Agriculture and Environmental Sciences. It is a rare honour which immortalises my name in recognition of my leadership in supporting the transformation of agriculture in Africa. It is an exceptional honor. I wish to convey to you, Your Excellency, my most profound gratitude and heartfelt appreciation for this exceptional honor. I look forward to visiting The Gambia soon to witness this monumental development which will remain ever green in my memory”.

    Adesina also expressed his deep and appreciation gratitude to the Honorable Minister of Higher Education, Research, Science and Technology, the Chairman and members of the Governing Council, the Vice Chancellor and the Dean of the School of Agriculture, of University of The Gambia.

    In 2023, President Adama Barrow awarded Dr. Akinwumi Adesina the country’s highest national honour, the Grand Commander of the Order of the Republic in recognition of his leadership and immense contributions to The Gambia and Africa.

  • African Development Bank Group loans $500 million to support economic governance and energy transition

    African Development Bank Group loans $500 million to support economic governance and energy transition

    …Benefits will also accrue to private businesses in the form of improved investment climate and opportunities in the energy sector at the level of individual states of the Federation, and from the creation of an environment more conducive to public-private partnerships

     The Board of Directors of the African Development Bank Group meeting in Abidjan, approved a $500 million loan to the Government of the Federal Republic of Nigeria to finance the second phase of the Economic Governance and Energy Transition Support Programme. The policy-based operation is for fiscal years 2024 and 2025.

    “The second phase of the programme aims to stimulate inclusive growth by accelerating structural reforms in the energy sector, while supporting progressive reforms of fiscal policy to boost non-oil revenues and expand fiscal space. The new phase will consolidate and build on the achievements of the first phase,” said Abdul Kamara, Director General of the Office of the African Development Bank Group in Nigeria.

    The programme will place emphasis on three main areas.

    ·  First, the programme will deepen fiscal policy reforms by strengthening public financial management systems and enhancing the transparency and efficiency of public spending.

    ·  Second, it will accelerate the reform of the power engineering sector to reduce energy poverty, expand access to energy, improve sector governance, and attract private investment.

    ·  Third, it will support implementation of the energy transition plan through measures that promote climate change adaptation and mitigation, including the introduction of energy-efficiency standards for electrical appliances.

    The Nationally Determined Contribution (NDC) will also be updated for the 2026–2030 period.

    The programme’s direct beneficiaries are the Federal Ministry of Power, the Federal Ministry of Finance, the Federal Inland Revenue Service, the Office of the Auditor General, the Debt Management Office, the National Climate Change Council of Nigeria (NCCC), the Federal Ministry of the Environment, the Nigerian Electricity Regulatory Commission (NERC), and other bodies responsible for social and economic policies.

    Benefits will also accrue to private businesses in the form of improved investment climate and opportunities in the energy sector at the level of individual states of the Federation, and from the creation of an environment more conducive to public-private partnerships.

    As of 31 October 2025, the active portfolio of the African Development Bank Group in Nigeria comprised 52 projects with a total commitment of $5.1 billion.

  • Sidi Ould Tah Assumes Office as 9th President of the African Development Bank Group

    Sidi Ould Tah Assumes Office as 9th President of the African Development Bank Group

    …Dr. Ould Tah, 60, who hails from the Islamic Republic of Mauritania, was elected on 29 May 2025 with over 76% of shareholder votes—the highest margin for a first-term president in the Bank’s history

    History was made today when Dr. Sidi Ould Tah was sworn-in, as the ninth President of the African Development Bank Group (AfDB).  

    At exactly 11:04 Abidjan time, on a rainswept Monday morning, Dr. Sidi took his oath of office at the helm of Africa’s premier development finance institution, succeeding Dr Akinwumi A. Adesina, who has completed his two terms.  

    Côte d’Ivoire’s President Alassane Ouattara, and his Mauritanian counterpart President Mohamed Ould Ghazouani, graced the elaborate high-level ceremony held at the Sofitel Abidjan Hôtel Ivoire. Former African Development Bank Group Presidents Dr. Akinwumi A. Adesina and Dr. Donald Kaberuka, as well as the Bank Group’s Board of Governors, including Executive Directors, staff and international dignitaries, were in attendance to witness the change of leadership. The Republic of the Congo’s economy minister Ludovic Ngatse in his capacity as Chair of the Board of Governors of the Bank presided over the swearing in-ceremony.  

    Dr. Ould Tah, 60, who hails from the Islamic Republic of Mauritania, was elected on 29 May 2025 with over 76% of shareholder votes—the highest margin for a first-term president in the Bank’s history.  

    President Ouattara termed the change of leadership a “milestone which comes at a historic moment in the life of our pan-African institution” and “paves the way for a new era of hope for the Bank.” 

    In his congratulatory remarks delivered immediately after the swearing-in ceremony, President Ghazouani noted that, “Dr. Sidi Ould Tah has this heavy responsibility to ensure that the Bank enhances its key role in promoting the economic and social development of the continent, for it to remain a full lever in terms of fulfilling the aspirations of African people to peace, prosperity and development.” 

    President Ghazouani expressed confidence in the Bank’s new president to deliver for the continent.  

    “We will be the Bank that bridges divides between regions, between ambitions and execution, between public and private, between urgency and bureaucracy. Let us move forward together – with urgency, unity, and unwavering accountability.” Ould Tah said in his well-received inaugural speech. 

    Dr. Ould Tah outlined his Four Cardinal Points, which include listening intently, launching a fast-track reform agenda, deepening partnerships and accelerating real solutions as the core priorities which will guide his presidency in the first 100 days of office.  

    The new President reiterated that the Bank will be “attentive, responsive, and capable of setting priorities that matter.”  He went on to note that the Bank will enhance partnerships by working closely with governments, the private sector, and international partners, “so that together we create a financial framework that serves Africa on its own terms.” 

    Dr Ould Tah acknowledged the presence of Bank partners, including Finance in Common, the Alliance of African Financial Institutions, the International Development Finance Club, and the Arab Coordination Group, and pledged his readiness “to expand the Bank’s partnership to new players such as sovereign funds, pension funds and others”. Additionally, he made a commitment to “urgently revisit our investment models to include a dedicated pillar for investment in peace.” 

    President Ould Tah affirmed his intention to organise a Town Hall “in the coming days” for Bank staff, whom he described as the “institution’s most valuable resource.” 

    Envisioning a vital role for the Bank as a guide for a continent confronting the 21st century challenges of demographics, technology and climate change, Ould Tah said: “Africa must look North, South, East and West—not to imitate, but to draw wisdom and strength from every direction while defining its own course. Like a navigator guided by the compass, the Bank should help Africa navigate the megatrends toward increased self-reliance, ambition, and agency,” he said. However, he stressed, this important leadership role in crafting universal solutions “shaped by African perspectives, African priorities, and African agency” must be approached in a selective manner, saying, “The African Development Bank should not aim to be everything to everyone. It should focus on where it can move the needle most, always with the spirit of partnership.” 

    Dr. Ould Tah is the former President of the Arab Bank for Economic Development in Africa (BADEA), where he oversaw a landmark institutional transformation. Under his leadership, BADEA’s assets grew from $4 billion to nearly $7 billion, annual approvals increased twelvefold and disbursements eightfold; and the institution achieved AA+/AAA credit ratings.  

    He brings to the Presidency of the African Development Bank Group over four decades of distinguished experience in development banking, economic policy, and institutional transformation. He also previously served as Minister of Economy and Finance of Mauritania between 2008 and 2015, and Mauritania’s Governor on the Boards of the African Development Bank, World Bank and the Islamic Development Bank, among others.  

    Fluent in Arabic, English and French, with working proficiency in Portuguese and Spanish languages, President Ould Tah holds a PhD in Economics from the University of Nice Sophia Antipolis, France, and advanced degrees from Paris VII-Jussieu and the University of Nouakchott. 

    Dr. Ould Tah inherits a pan-African institution with robust fundamentals: $318 billion in capital, AAA credit ratings maintained for 10 consecutive years, and the world’s highest transparency score for a sovereign portfolio, at 98.8%. Over the past decade, the Bank has approved $102 billion in development financing.  

    The audience at the swearing-in ceremony included representatives of international institutions and development partners, private sector, civil society, diplomats, members of the Bank’s Board of Directors, and staff. Three of the candidates who contested for the Presidency alongside Dr. Ould Tah—Ms. Bajabulile Swazi Tshabalala, Mr. Amadou Hott and Dr. Samuel Munzele Maimbo—were also in attendance.

  • Rule of law is Africa’s new gold: AfDB’s President Adesina

    Rule of law is Africa’s new gold: AfDB’s President Adesina

    …calls for bold legal and governance reforms to unlock prosperity

    “When Africa stands for the rule of law, the world will stand with Africa,” the President of the African Development Bank Group, Dr Akinwumi Adesina, has told more than 1,200 lawyers, judges, and government officials attending the Kenya Law Society’s 2025 Annual Conference.

    Delivering the closing keynote, title Public Finance, Governance, Justice and Development, Dr. Adesina drew a clear link between judicial independence, sound public finance, and sustainable economic growth. He stressed that Africa’s true wealth lies not only in its natural resources but also in its ability to govern them transparently, enforce contracts fairly, and ensure justice for all citizens.

    Turning challenges into opportunities

    Africa faces a $100 billion annual gap in foreign direct investment, he noted, a situation compounded by weak rule of law rankings, debt vulnerabilities, and predatory “vulture fund” cases. These involve investors buying national debt at a discount on secondary markets, then exploiting weak legal systems to sue debtor nations for full repayment — plus backdated interest and legal fees.

    “Evidence suggests that foreign direct investments move more to countries that have political stability, stable democracies, transparency, and low levels of corruption,” Adesina said during the conference held at Kenya’s coastal town of Diani, some 35 kilometres south of Mombasa.

    Other key drivers, he added, include an independent and transparent judiciary, strong regulatory frameworks, public accountability, efficient public service, competition policy, and respect for intellectual property rights.

    He also underlined the vital connection between justice and development, arguing that access to justice must be universal. This means legal aid, digitised courts, and grievance mechanisms that bring the law closer to citizens.

    “Justice is not a byproduct of development — it is the foundation of development,” he declared.

    Adesina urged African nations to:

    • Strengthen judicial independence and transparency to attract global capital.
    • Reform natural resource laws to ensure benefits reach communities, not elites.
    • Develop sovereign wealth funds to safeguard prosperity for future generations.
    • Build strong African arbitration systems to settle disputes locally and fairly.

    He challenged Africa’s lawyers, judges, and arbitrators to rise as “guardians of promise and stewards of destiny” by enforcing constitutional safeguards on public finance.

    He called on the Kenya Law Society members to champion ethics and environmental, social, and governance (ESG) principles, digitise court systems, improve legal infrastructure, and protect national assets from predatory debt practices.

    Adesina’s keynote culminated a 3-day conference focused on corporate governance, protecting constitutionalism and the rule of law, responsible public finance management, and digitalization of legal systems. The closing ceremony included the participation of Kenya’s legal luminaries and government, including Kenya’s Chief Justice, Martha Koome, Kenya Law Society President, Faith Odhiambo, Mombasa County Governor, Abdulswamad Nassir and the AfDB’s Director General of East Africa, Alex Mubiru.

    Solutions in motion

    The African Development Bank supports its regional member countries to address governance, public finance, and justice challenges.

    In Rwanda and Côte d’Ivoire, Bank support to create and modernise specialised commercial courts has reduced dispute resolution times by nearly half, unlocking more than $1 billion in investment.

    In Seychelles, Bank-backed constitutional reforms require all sovereign borrowing to receive parliamentary approval — contributing to a fall in the debt-to-GDP ratio from over 100% to below 55%.

    In Kenya, Bank-supported procurement and debt transparency reforms, including parliamentary oversight of public borrowing, are safeguarding public funds.

    Known as Africa’s “Optimist-in-Chief,” Adesina urged the continent’s legal community to recognise that they hold the keys to turning governance into growth and making development a daily reality rather than a distant promise.

    “Let us make a choice that history will record, and generations will remember,” he said. “As lawyers, justices and guardians of the law, I urge you to uphold the rule of law, to execute justice with fairness and righteousness.”

  • Nigeria Expands Agro-Industrial Footprint with New Processing Hub in Oyo State

    Nigeria Expands Agro-Industrial Footprint with New Processing Hub in Oyo State

    • A great honour to do this on my last official visit to Nigeria as President of the African Development Bank Group – Adesina

    Nigeria has launched a new Special Agro-Industrial Processing Zone (SAPZ) in Oyo State, marking a major milestone in the country’s efforts to boost agricultural transformation, job creation and rural industrialisation.

    The groundbreaking ceremony, held in the Ijaiye community near Ibadan on Saturday, was attended by national and international dignitaries, including the President of the African Development Bank Group, Dr. Akinwumi Adesina who was making his final official visit to Nigeria in that role. Also in attendance were the Governor of Oyo State, Seyi Makinde, and Nigeria’s Minister of Agriculture, Senator Abubakar Kyari.

    The Oyo site is the third to be developed under the national SAPZ program, and the first in southwest Nigeria. It follows earlier launches in Kaduna and Cross River States in April 2025.

    According to Dr. Adesina, “I believe that Nigeria can and must be a global powerhouse in agriculture. But you need investments to be able to do that. You also need industrial platforms that will connect primary agricultural production all the way to how you store products, how you process and add value, and how you ship to be able to sell. And that is what the special agro-industrial processing zones are really about.”

    The program is financed by the African Development Bank, in partnership with the Islamic Development Bank, the International Fund for Agricultural Development, and Nigeria’s federal and state governments. Together, they have committed $538 million to the first phase of the program, covering seven states and the Federal Capital Territory.

    Covering 3,000 hectares, with 300 hectares designated for immediate development, the Oyo SAPZ is expected to host up to 40 agro-processing industries, create over 100,000 direct and indirect jobs, and benefit half a million farmers.

    Oyo State Governor Makinde hailed the launch as a fulfilment of promises made: “Today is about promises kept. It is a strategic step on the journey of sustainable development. These hubs bring producers closer to processors and link farms to markets. They reflect our government’s belief that agriculture is not just about food, it is about infrastructure, enterprise and national relevance. We’re building a future where agriculture feeds not just homes, but industries; where it doesn’t just sustain families but entire economies.”

    Representing Vice President Kashim Shettima, Nigeria’s Minister of Agriculture, Senator Abubakar Kyari highlighted the SAPZ initiative’s alignment with national priorities: “Today’s event exemplifies the spirit of partnership and shared vision that is vital to our nation’s progress. The SAPZ initiative is one of the cornerstones of the renewed hope agenda championed by President Bola Ahmed Tinubu, a vision rooted in restoring Nigeria’s dignity, unlocking our vast potentials and creating opportunities for every citizen.”

    Dr. Adesina underscored the transformative vision behind SAPZs, calling them essential to unlocking agricultural value chains and lifting millions out of poverty.

    “The export of primary commodities is the door to poverty. The export of value-added commodities and products is a highway to wealth. It doesn’t really matter what you have in terms of agricultural commodities, whether it is cocoa or coffee, or grains; if you’re not adding value to it, it’s actually going to make you poor. So, what we’re doing here is to be able to unlock that value,” Adesina stressed. “Our goal is very clear. It’s to reduce massive post-harvest losses, develop logistics, and improve linkages between farm production, agro-processing, and value addition, transform rural economies, and, of course, to create jobs.”

    He outlined three critical pillars for the success of the SAPZs: political will, resource mobilization, and strategic partnerships. “What we are witnessing today would not have happened without intense collaboration,” he noted.

    Reflecting on his 10-year tenure as President of the African Development Bank, Adesina highlighted milestones achieved under his leadership, including the Bank’s capital increase from $93 billion in 2015 to $318 billion in 2024, and the two-time ranking of its sovereign portfolio as the most transparent among multilateral development banks globally

    The SAPZ initiative is a flagship of the Bank’s ‘Feed Africa’ strategy, launched by Adesina in 2015. The zones are being developed in 28 sites across 11 African countries, with the Nigerian program being the largest.

    The chairperson of the Ijaiye Farm Settlers Association, David Olatunji, described Saturday’s groundbreaking ceremony as “a memorable opportunity” for the community and the state. “We have a lot of unbroken forests around us, and the farmers are ready to work!” he declared.

    Dr. Adebowale Adeyeye, an agripreneur specializing in soyabean and cashew production and processing, said: “The SAPZ project in Ijaiye is a strategic boost for businesses like ours. With targeted government support in areas like power, road access, and security, it creates the kind of enabling environment we need to scale operations, reduce costs, and attract long-term investment. It’s a move that will strengthen agribusiness value chains and enhance overall competitiveness.”

    The SAPZ Programme is working to transform Nigeria’s rural economy into zones of prosperity, by facilitating industrial processing, expanding market access, and attracting private sector investment. The Zones are being developed in 28 sites across 11 African countries, with the Nigeria program being the largest.

    Dr. Kabir Yusuf, National Coordinator of SAPZ Nigeria, announced plans to expand the program to an additional 10 states from September 2025, marking the beginning of the second phase that will cover the remaining States in the country.

    Adesina was accompanied by senior Bank officials, including the Director General for Nigeria, Dr. Abdul Kamara; Senior Special Adviser on Industrialization, Prof. Oyebanji Oyelaran-Oyeyinka; and Director of Agricultural Finance and Rural Development Department, Richard Ofori-Mante.

  • World Bank Group joins African Development Bank Group and Mastercard as Co-Chair of Mobilizing Access to the Digital Economy (MADE) Alliance: Africa

    World Bank Group joins African Development Bank Group and Mastercard as Co-Chair of Mobilizing Access to the Digital Economy (MADE) Alliance: Africa

    …The World Bank Group will contribute to the initiative its expertise, data driven insights, and experience supporting sustainable digital transformation

     The World Bank Group has signed on as co-chair of the Mobilizing Access to the Digital Economy (MADE) Alliance: Africa, joining current co-chairs the African Development Bank Group and Mastercard in an initiative to provide digital access to critical services for 100 million individuals and businesses across Africa by 2034.

    The MADE Alliance: Africa aligns with the collective efforts of the three major institutions to accelerate digitalization by expanding access to secure, affordable, high-quality broadband and data connectivity, and ensuring different digital services work together seamlessly to benefit users. The World Bank Group will contribute to the initiative its expertise, data driven insights, and experience supporting sustainable digital transformation.

    “The World Bank Group is deeply committed to expanding inclusive digital access across Africa, and joining the MADE Alliance will help accelerate efforts to improve livelihoods, empower communities and drive economic growth across the continent,” said Sangbu Kim, Vice President for Digital at the World Bank. “By bringing together our digital expertise, global knowledge, and local experience, we can help scale lasting, transformational impact.” 

    The MADE Alliance: Africa is prioritizing opportunities in the agriculture sector, where digital technologies can serve as powerful catalysts for development. World Bank-supported “Digital Agriculture Roadmaps,” tailored country action plans, will enable the MADE Alliance to impact more farmers.  

    “Two of the African Development Bank Group’s priority areas are to Feed Africa and Improve the Quality of Life for the People of Africa. The MADE Alliance: Africa brings us closer to achieving those goals by connecting the continent’s smallholder farmers to digital services that lead to greater food production, greater access to markets, financing and farming practices, as well as to increased incomes,” said Dr. Beth Dunford, Vice President for Agriculture, Human and Social Development at the African Development Bank, which has committed $300 million to the first five years of MADE Alliance: Africa’s programming.

    “The MADE Alliance: Africa brings complementary partners together to execute and implement programs that target the same regions and communities, allowing us to amplify our impact,” said Tara Nathan, Founder and Executive Vice President of Community Pass, Mastercard. “The World Bank brings enormous expertise in digital transformation and agriculture, and we are honored they have joined the alliance to deploy resources more efficiently and accelerate our work to help bring everyone into the digital economy.”

    Since its May 2024 launch, the MADE Alliance: Africa has made significant progress with projects underway across the continent.

    In Tanzania, the alliance is supporting the provision of payment tools to 50,000 sunflower farmers. In Kenya, alliance members have deployed affordable high-speed internet digital skills training for 13 farmers’ cooperatives, reaching approximately 10,000 farmers and their communities. The Kenya National Farmers’ Federation is receiving funding from the African Development Bank Group to build the capacity of 250,000 farmers in Kenya to improve their bankability to financial institutions.

    The United Nations International Fund for Agricultural Development also joined as a member in April 2025. Other MADE Alliance members include Equity Bank Group, Microsoft, Heifer International, Sustainable Agriculture Foundation, Unconnected.org, Yara, Kenya National Farmers’ Federation, Shell Foundation, Tanzania’s CRDB Bank, and Syngenta Foundation in Kenya and Nigeria.

  • Adesina reaffirms commitment to Africa’s development as his presidency of the African Development Bank nears end

    Adesina reaffirms commitment to Africa’s development as his presidency of the African Development Bank nears end

    …Adesina urged global financial institutions to partner more strategically with the African Development Bank and other multilateral development banks, to scale up capital flows to Africa

    Dr Akinwumi Adesina says his passion to mobilize global capital for Africa’s development will continue way beyond his presidency of the African Development Bank, which ends on 1st September 2025.

    In a keynote speech titled “Tilting Global Capital for Unlocking Investment Opportunities in Africa”, delivered at the Standard Chartered Africa Summit on July 31, in Lagos, Adesina said, “Together, let us tilt global capital to unlock Africa’s assets. As I step into a new future, you can be sure this will be my focus! For I will always have Africa in my heart and in my sight.”

    The Standard Chartered Africa Summit, with the theme, “Africa to the Globe: Innovation, Resilience, and Growth”, brought together corporate leaders, policymakers, investors and other stakeholders. Attendees included Standard Chartered’s Co-Heads of Corporate & Investment Banking, Sunil Kaushal and Roberto Hoornweg; Chief Executive Officer of Standard Chartered Bank Nigeria, Dalu Ajene; Nigeria’s Minister of Trade and Investment, Dr. Jumoke Oduwole; Africa’s richest man, Aliko Dangote; Hakeem Belo-Osagie, Chairman, FSDH Group and Senior Lecturer at Harvard Business School; and award-winning author, Chimamanda Adichie.

    Adesina kicked off by alluding to his signature optimism about Africa’s prospects. “When I was approached to consider delivering the keynote speech, I did not hesitate. How can someone known as ‘Africa’s Optimist in Chief’ not accept to speak on Africa!”, he said.

    Highlighting the African Development Bank’s focus on bold financial innovation in the last decade, Adesina declared, “The African Development Bank is not just waiting for more capital, we are innovating to do more with the capital we have. Through our balance sheet optimization initiatives, we are stretching every dollar of risk capital further. Our ambition is threefold: free up capital, crowd in investors and amplify development impact.”

    He outlined several ambitious and innovative financing solutions pioneered by the African Development Bank, supported by its AAA rating which it has maintained over the last decade:

    • Over $102 billion in low-cost financing to Africa since 2015
    • Capital raise from $93 billion in 2015 to $318 billion in 2024, the highest in the Bank’s sixty-year history
    • Spearheading, in partnership with the Inter-American Development, the rechanneling of the IMF’s Special Drawing Rights (SDRs) to multilateral development banks—a move that will of the rechanneled SDRs as hybrid capital, which can be leveraged by 4-8 times.
    • The Africa Investment Forum, launched by the Bank in collaboration with strategic partners, has mobilized over $225 billion in investment interest across infrastructure, energy, agribusiness, manufacturing and other critical sectors, since 2018
    • The biggest social bond issuance by multilateral development banks, amounting to $14 billion in the past eight years.
    • $10 billion of long-term global benchmark bonds issued in 2025 alone to finance projects across Africa
    • The first-ever synthetic securitization of a non-sovereign portfolio by a multilateral development bank, involving the transfer of mezzanine risk of a $1 billion portfolio of private sector loans.
    • The first-ever private sector hybrid capital transaction by a multilateral development bank, valued at $750 million—with over 275 investors participating with a book order of $5.1 billion, making it the largest ever book order achieved by the African Development Bank.
    • A Room to Run Sovereign offering that created an estimated $2 billion in new sovereign lending headroom
    • 16 partial credit and partial risk guarantees valued at close to $3 billion, mobilizing $ 5 billion for the continent
    • A $250 million partial credit guarantee that allowed Egypt to raise the first ever Panda Bond by an African country on the Chinese capital market, valued at $500 million.

    Adesina praised Standard Chartered Bank’s successful partnership with the African Development Bank’s successful partnership, which notably delivered a partial credit guarantee for Côte d’Ivoire in 2023 — a deal that won ‘Sovereign Syndicated Loan Deal of the Year’ at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards in Cape Town, South Africa, in April.

    “The Standard Chartered Bank participated as the sole lender in the 2023 Cote d’Ivoire’s sustainable loan partial credit guarantee transaction. The African Development Bank was able to unlock €533 million from the Standard Chartered Bank in support of the country’s financing needs.”

    He also congratulated Standard Chartered on being named Best Transaction Bank at the Asset Triple A Treasurise Awards in Hong Kong. “Your record-breaking 127 accolades reflect an exceptionally strong track record of excellence in banking and finance, globally.”

    Adesina urged global financial institutions to partner more strategically with the African Development Bank and other multilateral development banks, to scale up capital flows to Africa.

    He called for greater use of risk mitigation and credit enhancement instruments, mainstreaming of best practices in Environmental, Social and Governance (ESG), and increased collaboration to scale up local currency financing solutions.

    Adesina’s delegation included the Bank Group’s Vice President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor, and the Director General of the Nigeria Country Department, Dr. Abdul Kamara.

    The African Development Bank’s current active portfolio in Nigeria is the largest in the Bank. It is valued at $5.1 billion and comprises 52 operations, equally distributed between the public and private sectors, with 26 projects each. National operations account for 84% of the portfolio, while multinational operations constitute the balance of 16%.

    The Bank Group is set to establish a Youth Entrepreneurship Investment Bank in Nigeria, as part of a pan-African portfolio designed to create and finance entrepreneurship opportunities for young Africans.

    The Bank is also rolling out Phase 1 of its Special Agro-Industrial Processing Zones across 8 States, including the Federal Capital Territory. Construction has already begun in four States of Kaduna, Cross River, Oyo and Ogun. Phase 2, which will cover the remaining 28 States, is scheduled to take off from September 2025.  

  • ‘Our role as a Bank is to champion African entrepreneurs’ – Adesina

    ‘Our role as a Bank is to champion African entrepreneurs’ – Adesina

    …During the tour, Adesina engaged in discussions on the key challenges facing Nigeria’s automotive sector, including fiscal policy, logistics, access to finance, and the lack of local manufacturing capacity for critical components

    The President of the African Development Bank Group, Dr. Akinwumi Adesina, has reaffirmed the Bank’s strong commitment to supporting African entrepreneurs and industrial innovation. He was speaking during a visit to Saglev, a Nigerian electric vehicle assembly and distribution company in Lagos. 

    “Our role as a bank, and my role as President, is to be a champion of African entrepreneurs.” Dr. Adesina said.  

    Located in Ikorodu, in the north of Lagos, Saglev Electromobility Nigeria Limited produces electric vehicles from semi-knocked-down components under a technical partnership with a Chinese automobile group. Targeting Nigeria and other emerging markets, the plant has an annual capacity of 2,500 vehicles on a single shift, expandable to 10,000 with multiple shifts 

    Welcoming Dr. Adesina to the facility, Saglev Chairman and CEO, Dr. Sam Faleye, described the visit as a fulfilment of a promise made during the 2024 Africa Investment Forum in Rabat, Morocco. “You told me you’re going to come here,” he said.  

    Adesina was accompanied by his wife, Mrs Grace Yemisi Adesina, and a Bank delegation that included the Vice President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor, and the Director General of the Nigeria Country Department, Dr. Abdul Kamara.  

    Faleye shared his journey from Nigeria to the United States and back to Nigeria. “I went to the US, I practiced 28 years as an Internist, and also in Clinical Informatics, and I ended up here. If I did this project anywhere else in the world, it would not satisfy me as much as this satisfies me.” 

    During the tour, Adesina engaged in discussions on the key challenges facing Nigeria’s automotive sector, including fiscal policy, logistics, access to finance, and the lack of local manufacturing capacity for critical components. He also explored issues related to battery technology, charging infrastructure, capacity building, and the Bank’s commitment to clean energy investments.  

    “For us as the African Development Bank, a big part of our work is infrastructure. That is what I see here—you need to be able to have power at a lower cost, so that your unit cost of production will be low,” Adesina said. “Electric vehicles run on electricity — and that is why at the African Development Bank, in the last 10 years, we have connected more than 28 million people to electricity, investing heavily in energy.” 

    He added, “If you look at the amount of solar radiation we have in Africa, it’s about 11 terawatts, hydro is about 350 gigawatts, wind is about 150 gigawatts, and geothermal is about 15 gigawatts, so Africa is actually the largest place in terms of renewable energy sources. When you have that amount of renewable energy resources, clearly, how we power our homes, offices, industries, and cars, is very important. Globally, the electric vehicle market is valued at about 7 trillion dollars today, by 2050 it will be 59 trillion dollars, so you’re in what is a very major sector for the energy transition.” 

    He commended Faleye for investing his own capital significantly into the company, given the high borrowing costs in Africa. “The cost of capital in Africa is three to five times higher than in any other part of the world. And so, the African Development Bank can help in many ways to de-risk lending to companies like this. We have a lot of facilities that can do that. We also have lines of credit we provide for commercial banks, many of them in Nigeria, that are able to support us as well.” 

    Adesina commended the high caliber of the company’s young engineers and technicians, citing their skills and evidence of the quality of Nigerian technical education. He also praised the company’s effort toward gender inclusion, particularly among its technical workforce.  

    He also underscored the importance of African diaspora to the continent’s development, praising Faleye for returning to Nigeria to invest in the country’s automobile industry. 

    “You’re a medical doctor by training, you didn’t have to be doing this, you were already doing very well in the United States, but I think the passion, the drive, and the commitment that you have to Africa is how we want it to be. Africa’s diaspora is valuable not just in terms of money—we get about $91 billion of remittances that come to Africa every year, and those remittances are very important—but I think the big power of diaspora is the knowledge, the skills and the commitment to the continent of your birth.” 

  • African Development Bank Approves $46 Million to Transform Healthcare in Sokoto State

    African Development Bank Approves $46 Million to Transform Healthcare in Sokoto State

    …The Bank’s financing will support the delivery of climate-smart health infrastructure across three levels of care

    The Board of Directors of the African Development Bank Group has approved a $46 million loan to finance the Sokoto State Health Infrastructure Project, a transformative initiative designed to enhance healthcare access and quality in Nigeria’s Sokoto State.

    The project addresses critical health system gaps in Sokoto, where key indicators reflect a critical need for intervention. Only one in 20 children is fully vaccinated, while infant mortality stands at 104 deaths per 1,000 live births, nearly double Nigeria’s national average of 63. Less than 14 percent of health facilities in the state have functional infrastructure, and there is just one doctor for every 8,285 people — far below the World Health Organization’s recommended ratio of 1:1,000.

    The Bank’s financing will support the delivery of climate-smart health infrastructure across three levels of care. These include the construction and equipping of a 1,000-bed teaching hospital complex; three zonal hospitals with a combined capacity of 450 beds; and six primary healthcare canters strategically located to serve rural communities.

    The project also includes the rehabilitation of health training institutions and the development of a modern medical warehouse to strengthen pharmaceutical supply chains.

    “This investment illustrates our commitment to continue working with the Government to fill critical infrastructure gaps in Nigeria’s health system while building resilient, climate-adapted healthcare facilities,” said Abdul Kamara, Director General of the African Development Bank’s Nigeria Office. “By strengthening healthcare infrastructure in Sokoto State, we are building hope and creating pathways to better health outcomes for millions of Nigerians.”

    Aligned with Nigeria’s National Development Plan (2021-2025) and the Health Sector Renewal Investment Initiative, the project is expected to generate approximately 2,500 jobs, with 60 percent of opportunities targeting youth and 30 percent women. In addition, the project will integrate electronic health infrastructure and renewable energy systems, ensuring sustainable, energy-efficient operations while reducing greenhouse gas emissions. Expanded capacity in local the medical and nursing schools will create 700 new training slots annually, helping to address the region’s acute shortage of skilled health professionals.

    The initiative builds on the Bank’s successful track record in Nigeria’s health sector, where it has financed four health infrastructure projects totaling $117.68 million. It will leverage strategic partnerships with the United Nations Children’s Fund, the World Health Organization, USAID, and other development actors to maximize impact and ensure comprehensive health system strengthening.

    The African Development Bank Group remains committed to enhancing the quality of life for Africa’s people through targeted investments in resilient health infrastructure that drive inclusive growth and sustainable development across the continent.

  • President Suluhu Hassan of Tanzania names 112-kilometer iconic highway after Adesina

    President Suluhu Hassan of Tanzania names 112-kilometer iconic highway after Adesina

    …awarded Doctor of Science Honorary Degree (Honoris Causa) from University of Dar es Salaam

    The Government of the United Republic of Tanzania, on 14 June, has honored the President of the African Development Bank Group Dr Akinwumi Adesina describing him as “a visionary leader, a tireless son of Africa who has dedicated his life to transform the narrative of the continent.”

    President Samia Suluhu Hassan praised Adesina’s vital role in the development of her country’s economy, singling out large-scale infrastructure projects financed by the Bank.

    During a two-day visit to Tanzania that began on Friday, Bank president Dr Akinwumi Adesina was invited on a tour of some of the Bank-financed infrastructure projects that are transforming Tanzania’s economy and strengthening its regional and international roles. This includes a new international airport and a major highway that encircles the administrative capital of Dodoma.

    The Tanzanian leader highlighted projects in other sectors, such as agriculture and energy, that are financed by the Bank.

    “This is in addition to the construction of a modern Standard Gauge Railway line that will link Tanzania to Burundi and the Democratic Republic of Congo,” said President Suluhu Hassan.

    The African Development Bank Group has invested $9 billion in Tanzania since it started its operations in the country in 1971. Total financial support over the last 10 years under Adesina’s leadership stands at $4.73 billion, equivalent to 53% of the Bank’s lending to Tanzania over the past 54 years.

    “On behalf of the people of Tanzania, I express our gratitude to the African Development Bank for being a dependable partner of our country’s development journey,” the Tanzanian President said.

    Referencing the Bank’s transformative impact, Tanzania’s President Samia Suluhu Hassan told Adesina, “Your visionary leadership has brought significant socio-economic change to Tanzania and across Africa.”

    To cheers from the crowd President Suluhu Hassan announced, “I have accepted a recommendation by the Ministry of Works to rename the Dodoma Outer Ring Road as the Dr Akinwumi Adesina Road.”

    Adesina, accompanied by his wife, Grace Yemisi Adesina, was visibly moved to tears.

    The newly named 112-kilometer dual carriageway is a strategic link in the Cape to Cairo continental corridor. It will decongest Tanzania’s fast-growing administrative capital and enhance regional connectivity.

    The Bank provided $138 million in funding for the project, with an additional $42 million from the Africa Growing Together Fund and $34.69 million from the Government of Tanzania.

    Earlier, Adesina surprised the crowd when he delivered a lengthy portion of his speech in Kiswahili, the national language of Tanzania, which is widely spoken in East and Central Africa. After recognizing all dignitaries in Kiswahili, he went on to thank President Suluhu Hassan for the warm and generous hospitality accorded to him, first in the City of Peace, Dar es Salaam, and in the attractive city of Dodoma.

    “Mheshimiwa Rais Samia Suluhu Hassan, ningependa kukushukuru kwa mapokezi yako ya upendo na ukarimu tuliopewa jana katika jiji la amani, Dar es Salaam na hapa pia katika jiji lenye mvuto la Dodoma. Nimefurahi sana kuwa hapa Dodoma,” Adesina said as the crowd cheered him on.

    Earlier, on Friday 13 June, Adesina was awarded a Doctor of Science Honorary Degree (Honoris Causa) from the prestigious University of Dar es Salaam.

    The citation highlighted Adesina’s leadership and “lifelong dedication to public service, evidence-based policymaking, and pan-African progress.”

    It read further: “Dr Adesina exemplifies the rare blend of academic brilliance, visionary leadership, and practical impact that honorary doctorates are meant to recognize. His emphasis on inclusive growth, innovation, and economic resilience makes him a beacon of integrity, excellence, and servant leadership.”

    The honorary degree was bestowed on Adesina by the Chancellor of the University and former President Jakaya Mrisho Kikwete, who said, “I would like to tell Tanzanians, the African Development Bank has been a major anchor of Tanzania’s development sector. When it comes to infrastructure, no institution comes close to the African Development Bank.”

    Addressing the graduating class, Adesina spoke of his humble beginnings, emphasizing resilience, character, and unity. “Success cannot be achieved alone,” he said, inviting the students to rise, link hands, and repeat together: “Together, we will succeed and make a difference.”

    In his congratulatory remarks, Finance Minister Mwigulu Nchemba said, “Tanzania is proud to stand among the nations celebrating this remarkable journey and enduring legacy.”

    From Dar es Salaam, Adesina, accompanied by former President Kikwete and Finance Minister Nchemba, took the Standard Gauge Railway train for the three-hour, 450-kilometre journey to Dodoma.

    The African Development Bank Group has established a syndication strategy to mobilize $1.2 billion in conjunction with Deutsche Bank, Société Générale, and other partners for the 651-kilometre extension of the electrified Standard Gauge Railway that will connect Tanzania to Burundi and the Democratic Republic of Congo.

    The project financing, signed during the 2024 Africa Investment Forum Market Days and includes more than $85 million from the Bank’s concessional financing window, the African Development Fund, a mix of Partial Credit Guarantees totaling $994.3 million across some sections of the railway, complemented by $247 million from the Government of Tanzania in counterpart financing. Initial disbursement from the African Development Fund and partner, the OPEC Fund, is expected by July 2025.

    Adesina said, “This railway line is a cornerstone of East Africa’s regional integration vision, aimed at delivering a modern, cost-effective, and high-capacity transport system anchored on the port of Dar es Salaam and linking landlocked nations.”

    “Our shift from traditional road systems to integrated transport solutions is helping position Tanzania as a key logistics and trade hub in the region,” he added.

    Accompanied by Adesina, President Suluhu Hassan travelled across more than 30 kilometers of the Dodoma Outer Ring Road, stopping along the way at the Bank-funded Msalato International Airport which is expected to be completed by the end of 2026. The state-of-the-art airport features a 3.6-kilometre landing strip—one of the longest in East Africa, with a capacity to accommodate Airbus A380 aircraft.

    The African Development Bank has provided over $198 million to finance the Msalato International Airport project with $23 million coming from the African Development Fund and $50 million from the African Grow Together Fund.

  • Annual Meetings 2025: African private-sector players and African Development Bank officials discuss business opportunities

    Annual Meetings 2025: African private-sector players and African Development Bank officials discuss business opportunities

    …The Bank provided updated information on its procurement plan and contractual policies, as well as on procedures for accessing business opportunities for companies or projects

    On the fourth day of the African Development Bank Group’s Annual Meetings in Abidjan, a seminar on business opportunities with the Group brought together private-sector players from 40 African countries and led to constructive exchanges with Bank officials.

    “Africa will not develop without a robust private sector. This seminar should give you a better understanding of how the Bank operates and how to work with us,” Gauthier Boulard, Senior Director of Resource Mobilization and Partners at the African Development Bank, told participants.

    During the seminar, the Bank provided updated information on its procurement plan and contractual policies, as well as on procedures for accessing business opportunities for companies or projects. Information was also shared on procurement rules, integrity and corruption.

    “With regard to our Ten-Year Strategy 2024-2033, we expect to have to finance more transformative projects, i.e. projects that bring about change in the market in which they take place…. We are ready to support the private sector,” said Ronald Rateiwa, Senior Strategy, Policy and Infrastructure Officer at the African Development Bank.

    Cheikh Ibra Faye, Director of Faye Groupe Services, a company active in Senegal, Mali and Côte d’Ivoire, commented: “I have just learned important information that I’ve been looking for for a year. I have a plan to replace West Africa’s urban vehicle fleet with vehicles powered by renewable energy, and I’d like to know what support is available from the African Development Bank,” he said.

    Aude Apetey-Kacou, Manager of Private Sector Operations for West Africa at the Bank, responded: “The Bank finances urban transport. So the fleet project meets one of our criteria. We would then need to discuss the project in a different setting, to find out more about its structure, the current state of financing and the progress of the studies already carried out, so that we can make a decision.”

    The creation of characteristically African social media, setting up biometric laboratories to combat cervical cancer, satellite imagery and the financing of small and medium-sized enterprises were just some of the projects brought to the attention of the Bank’s management by private-sector players.

    “Health is a key sector that the Bank intends to support and is already involved in. There are other sectors that are just as important, and we’ll have the opportunity to talk about them again,” confirmed Boris Honkpehedji, Senior Manager of Private Sector Operations at the African Development Bank.

    As of 31 December 2024, the African Development Bank Group’s investment portfolio had devoted 46% of its financing to the financial sector, 16% to energy, 15% to industry, 9% to transport, 9% to agriculture and social affairs, and 5% to multi-sector projects.