A year after launching the EDGE certification process, the African Development Bank has attained Level 1 Assess, in recognition of its commitment to monitoring, benchmarking and achieving gender parity in its workforce. The Bank began the EDGE certification process in 2022. EDGE is the world's leading certification that measures gender equity in the workplace. The Bank is now EDGE certified at...

US nominee for World Bank Group President, Ajay Banga began his global tour on Monday, with his first stop in Abidjan, Cote d’Ivoire where he met the African Development Bank Group President Dr Akinwumi Adesina, senior management and Board of Directors. Banga spoke about the need for the World Bank Group to develop a strong partnership with the African Development Bank Group that would...

William Ruto, who came to power in September 2022, is multiplying initiatives to accelerate the digital transformation initiated by his predecessor, Uhuru Kenyatta. To achieve its objectives, the new government is counting on the support of financial partners. The Kenyan government seeks the World Bank’s support to finance its digital superhighway project, which will require about $600...

The rating means that Moody's still considers the African Commercial Insurance Agency to have low credit risk and is therefore likely to meet its long-term commitments. The American financial rating agency Moody's has, in an analysis published on Tuesday 7 March, confirmed the A3 insurance financial strength of the African Commercial Insurance Agency (ACA) for the fifth consecutive...

Despite an expected 3% growth for 2023, Morocco’s economy is still facing supply shocks that are causing inflation. On Monday, March 6, the IMF board met to discuss financial support for the Kingdom, which has consistently demonstrated strong economic fundamentals. Morocco has applied for $3.7 billion in special drawing rights (SDRs) equivalent to $5 billion in financing from the...

In application of its 2021-2024 poverty reduction strategy “New Direction”, Sierra Leone is implementing several measures to develop all sectors of the country's economy. One of the sectors benefiting from these reforms is civil aviation, which authorities want to strengthen and transform.   Sierra Leonne has inaugurated a new airport terminal, the Presidency announced last Sunday....

The acquisition project will be completed only after the approval of the Kenyan central bank. The Competition Authority of Kenya (CAK) approved, last Thursday, the Somali Islamic bank Premier Bank Limited (PBL)’s plan to acquire 62.5% of the Kenyan Islamic bank First Community Bank (FCB).  “ […]it is notified for general information that in the exercise of the powers conferred...

More than 75% of the DRC's population does not have access to mobile Internet services. The government, international partners, and private companies are working to bridge this digital divide in a context marked by accelerated digital transformation. The European Investment Bank (EIB) announced, Saturday, a warrant agreement with the wholesale telecommunications infrastructure provider...

Gender in Focus: Senegalese “Agripreneur” and African Development Bank AgriPitch Competition winner says digital marketing key to luxury tea startup success Senegalese businesswoman Adja Sembene Fall said she had no choice but to launch her start-up business online because her new Contanna fair-trade tea company only had $200 to its name. “Due to [lack of] finance, it was not...

The Covid-19 pandemic and the containment measures it called for have strained insurance systems in several African countries. The settlement of business interruption claims remains a financial audit challenge in the industry.   In its FY2022 financial results, South African insurance group Santam revealed that its net exposure to Covid-19 claims settlement risks was reassessed at ZAR1.9...