The African Development Bank, rated Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Rating, all stable), has launched and priced a USD 2 billion 5-year Global Benchmark bond due March 14, 2028, its first of the year. The bond was issued on 7 March. With this issue, the African Development Bank continues to carry out its funding strategy of issuing large liquid benchmark transactions and adds...

The African Development Bank Group's country office in Benin held a workshop on the challenges facing the country’s textile industry and how to build the capacity of stakeholders to develop value chains. The workshop drew fabric producers, dyers, stylists, designers, embroiderers, seamstresses, consumers, support function professionals, and value chain professionals, representatives of textile...

The African Development Bank and the Coalition for Dialogue on Africa (CoDA) have officially launched a three-year support project to improve regional coherent and coordinated response to illicit financial flows. The project will help African stakeholders actively engaged in stemming such flows to improve domestic revenue mobilization in African countries. The launch of the African Financial...

In February, the Egyptian government announced plans to sell its stakes in 32 companies by March 2024, in a context where economic growth is stalled by external shocks.  Telecom Egypt, 80% owned by the state, was rumored to be among the targeted companies.   The Egyptian Ministry of Finance, the main shareholder of Telecom Egypt, has confirmed that the government is considering selling...

The closing is announced two years after Inua Capital launched in Uganda. The fund aims to support about thirty businesses, women-led mostly, in the coming ten years. Impact investor Inua Capital announced, Wednesday, the close of its first fund, Inua Impact Fund, with over $8 million in commitments. This generalist vehicle will invest patient and catalytic venture capital in more than 30...

Ghana is trying to break out of the vicious circle of its sovereign debt, which, although modest, is now perceived as risky by some investors. Nevertheless, its president, Nana Akufo-Addo, says he has no regrets and remains confident of a successful outcome to the ongoing processes. Ghana's President Nana Akufo-Addo (photo) has no regrets about his country’s debt since the borrowed resources...

Africa Fashion Up, the first large-scale Parisian event dedicated to contemporary African fashion, returns this year for a third edition placed under the sign of audacity and originality, while giving a special place to ethical and sustainable fashion. The selected future laureates will have the chance to showcase their original creations at a major fashion show to be held on 7 July at the Quai...

Cabo Verde Telecom is, since 2021, reorganizing its operations. According to its plan, on January 1, 2023, it was supposed to merge two of its business units, CVMóvel and CVMultimedia. The telecom company Cabo Verde Telecom (CVTelecom) will perform its IPO on the national stock exchange by the end of the year. The information was disclosed by Miguel Monteiro, president of the Cape Verde Stock...

The Sustainable Energy Fund for Africa (SEFA) of the African Development Bank has approved a technical assistance grant of $5.03 million to implement the Africa Super Energy Service Companies (ESCO) acceleration program in Rwanda, Senegal and South Africa. SEFA is a bank-managed multi-donor special fund that works to unlock private sector investments in renewable energy and energy...

The Angolan government says the assets "embezzled" under former President Jose Eduardo Dos Santos include real estate, company shares, cars, and hard cash. Angola is considering setting a special fund to manage about $15 billion in assets recovered by the state as part of an anti-corruption drive, Finance Minister Vera Daves de Sousa (photo) announced Tuesday, March 7. "The government is...