Tag Archives: Bank

African Development Bank Boosts Jobs for Youth in Africa Strategy with close to $2 Million

The African Development Bank’s Fund for African Private Sector Assistance (FAPA), has provided funds totaling nearly US $2 million to its Jobs for Youth in Africa initiative.

FAPA, of which the Government of Japan is a major donor, along with the Austrian Government and the African Development Bank, will contribute $923,570 and $988,202 to finance the Bank’s Fashionomics Africa Digital Marketplace and Entrepreneurship & Innovation Lab (eLab) programs, respectively. Both programs form key components of the Bank’s Jobs for Youth in Africa Strategy, which invests in high-growth sectors with potential to promote youth and women’s empowerment, as well as create 25 million jobs over the next decade.

“Africa hosts the world’s youngest population, which will double to almost one…

Read More

South African portfolio inflows plummets in Q2 -central bank

PRETORIA, Sept 25 (Reuters) – Portfolio investments into the South African economy fell sharply in the second quarter, central bank data showed on Tuesday.

Inward investment into South African bonds and equities shrank to 16.6 billion rand ($1.16 billion) from 89.4 billion rand in the first three months of the year, the Reserve Bank said.

The second quarter coincided with an emerging market selloff.

Appetite for bonds was hardest-hit, with non-resident investors cutting their purchases to a net 3.8 billion rand in from 46.9 billion.

$1 = 14.3681 rand
Reporting by Mfuneko Toyana
Writing by Alexander Winning; editing by John Stonestreet

Our Standards:The Thomson Reuters Trust Principles.

Read More

African Development Bank launches first Africa-to-Africa (A2A) Investment Report – Sierra Leone Telegraph

Sierra Leone Telegraph: 24 September 2018:

Opportunities for investment in Africa outweigh the obstacles, according to a report by leading African companies covered in the African Development Bank’s new Africa-to-Africa (A2A) Investment Report, the first ever report on inter-African trade published by the Bank.

The report unearths the realities African companies face when investing in the continent, the emerging trends in A2A investment and the steps African policymakers can take to accelerate intra-African investment.

Africa-to-Africa Investment Report: A first look, finds that more African companies are investing in Africa.

These companies have confidence in the continent’s long-term growth potential; they are at the cutting edge of their industries, and are capitalizing on their…

Read More

African Development Bank Supports Ghana’s Renewable Energy Sector with $1.5 Million Grant

The African Development Bank has approved a US$1.5 million grant from its Sustainable Energy Fund for Africa (SEFA), to assist Ghana’s s renewable energy investment drive. The grant will support the Ghana government’s efforts to overcome technical, financial, regulatory and institutional barriers to scaling-up renewable energy investments in the country.

The project, which is  part of the Bank-led Climate Investment Fund (CIF) and the Scaling-up Renewable Energy Programme (SREP) Investment Plan for Ghana, will complement the Bank’s effort in the Ghana Energy Development and Access Programme (GEDAP).

The SEFA grant will fund two broad components: the technical/commercial/regulatory and feasibility studies, aimed at providing detailed renewable energy resource studies, grid integration…

Read More

African Development Bank Woos Canadian Businesses To Invest In Africa

The president of the African Development Bank (AfDB), Dr Akinwumi Adesina has encouraged Canadian businesses to look more towards Africa.

He is quoted in a press statement issued by the Bank as telling them to “be part of the action and seize investment opportunities on the continent”.

“Canada must not be missing at Africa’s investment table. It is time to change the lens through which Africa is perceived and to make clear distinctions between perceived and real risks.”

This was at a meeting held with 80 leading representatives of the Canada-Africa Chamber of Business in Toronto.

It comes ahead of the Bank’s Africa Investment Forum (AIF), scheduled for November 07 to 09, in Johannesburg, South Africa.

The AIF would bring together global private capital and investment funds, sovereign…

Read More

China Development Bank stakes US$50 bn on African projects

The China Development Bank has provided more than US$50 billion in investment and financing to about 500 projects in 43 African countries, said Liu Yong, spokesman for CDB, Xinhua news agency reported.

Liu believes that CDB has played a long-term important role by using its large-scale advantage to support the construction of key projects, covering key areas of local infrastructure, energy, mining, telecommunications and manufacturing.

At present, the total size of the China-Africa Development Fund is US$10 billion. And so far, the CDB has promised to inject US$4.6 billion in more than 90 projects in 36 African countries.

Of that, US$3.3 billion investment has been made, driving Chinese enterprises to follow and invest more than US$23 billion in the region.

Meanwhile, for small and…

Read More