In the final communiqué issued following a Council of Ministers held on October 13, the Algerian government says it could borrow money from development financial institutions to finance its budget deficit in 2020. “The 2020 draft Finance Act proposes the possibility of selectively using external financing from global development financial institutions to finance structural and profitable...

Cape Verde is negotiating an agreement with the North Atlantic Treaty Organization (NATO) to strengthen its security forces, the country’s Minister of Foreign Affairs, Luis Filipe Tavares (pictured) announced last weekA few months ago, Cape Verde expressed its intention to join this intergovernmental military organization, and now the country has engaged talks with member countries in that...

The African Development Bank and Japan’s Government Pension Investment Fund (GPIF) have signed a partnership to promote environmental, social and governance investments in the global capital markets. The collaboration between the Bank and GPIF will focus on channeling investments towards inclusive and sustainable growth in Africa, contributing to the achievement of the Sustainable Development...

A Senegalese government delegation, led by the country’s Minister of Water and Sanitation, His Excellency Serigne Mbaye Thiam (photo), briefed the African Development Bank  on Senegal’s preparations to host the World Water Forum in Dakar in March 2021. Minister Thiam met with the Bank’s Vice President for Agriculture, Human, and Social Development, Jennifer Blanke, and her senior...

First WATT Renewables were winners of the 4th West African Forum for Climate and Clean Energy Financing (WAFCCEF) contest, held on Thursday 26 September in Abidjan and co-organized by the African Development Bank. The company, based in Canada, is a private sector clean-energy technology producer and supplier of sustainable energy solutions using an innovative mix of photovoltaic...

The African Development Bank and the governments of Equatorial Guinea and Portugal have signed a country-specific memorandum of understanding for the implementation of the Lusophone Compact, which aims to accelerate private sector development in Portuguese-speaking countries of Africa, known as PALOPs. Equatorial Guinea is the sixth and final PALOP country to sign the Compact after Angola, Cabo...

Former Commonwealth Secretary-General Emeka Anyaoku has presented a Lifetime Achievement Award to the African Development Bank President Akinwumi Adesina, describing him and the Bank’s work as “ legendary, unprecedented and worthy of emulation.” The Hallmarks of Labour Foundation presented the Outstanding International Icon Award to Adesina at a ceremony held in Lagos on October 6th. The...

The government of Botswana expects growth to slightly fall to 4.3% of GDP this year compared to 4.5% last year, the Deputy Secretary in the ministry of finance, Kelapile Ndobano (pictured) said. The official said the weak outlook is linked to disruptions in the diamond sector, one of the country's main export products. According to him, Botswana's diamond sales fell by 16% in the second quarter...

Rwanda’s satellite RWASAT-1 is going to be launched into orbit in November this year, the country’s minister of ICT and innovation, Paula Ingabire, announced during a joint press conference between the Rwanda Utility and Regulatory Authority (RURA), the Ministry of ICT & Innovation, and the Japanese Embassy. Patrick Nyirishema, RURA’s MD, said the satellite might be launched on November...

Enda Tamweel, a Tunisian microfinance institution that owns 61% of market share, plans to carry out a bond issue operation totaling TND15 million ($5.2 million) without the use of public offerings. The issue will cover 150,000 bonds with a par value of TND100. The loan, which will have a maturity of five years, has an annual fixed interest rate of 12.5%. The subscription period runs from 10 to...