The African Development Bank and its partners on Wednesday launched the Africa Digital Financial Inclusion Facility (ADFI), designed to aid safety and expansion of digital financial transactions in Africa.
The Fund, launched at the Bank’s Annual Meetings in Malabo, Equatorial Guinea, is supported by the Bill & Melinda Gates Foundation, the Agence Française de Développement (AFD) and the Government of Luxembourg, as initial contributors.
Leaders from four African countries on Wednesday shared their vision for an integrated and borderless Africa that would foster economic growth and development.
The leaders spoke during a high-level presidential dialogue on day two of the African Development Bank’s 2019 Annual Meetings.
The African Development Bank Group on Tuesday urged financial institutions in Africa to use their investments and other business portfolios to deepen regional integration efforts for the economic transformation of the continent.
African Development Bank Vice-President for the Private Sector, Infrastructure and Industrialization, Pierre Guislain, on Tuesday stressed the major role that African financial institutions play in regional integration.
"These institutions finance the private sector, which has to become the engine of Africa's regional integration," said Guislain at the opening of the Association of African Development Finance Institutions (AADFI) workshop on the sidelines of the Bank's Annual Meetings in Malabo, Equatorial Guinea.
African and non-regional donors on Tuesday pledged $17 million to replenish the Africa Solidarity Trust Fund, an initiative which aims to provide food security and eliminate rural poverty on the continent.
The Republic of Niger and the African Development Bank on Tuesday signed a $128.8 million financing agreement to support the "Kandadji" project for the regeneration of ecosystems and the development of the Niger Valley (PA-KRESMIN).
Nigerien Minister of Planning Aïchatou Kane Boulama, who signed on behalf of Niger’s Government, expressed her gratitude to the Bank and praised the leadership shown by it in the process leading to the "Kandadji" signing.
Central Africa stands to benefit the most from the African Continental Free Trade Area (AfCFTA), data from the African Development Bank shows.Hanan Morsy, Director of Research at the Bank, revealed the findings at the launch of one of the Bank’s flagship reports in Malabo, where the African Development Bank is hosting its Annual Meetings.
The African Legal Support Facility (ALSF) held its 28th Management Board and 10th Governing Council meetings on 10 and 11 June 2019 respectively, on the margins of the 2019 African Development Bank Group Annual Meetings held in Malabo, Equatorial Guinea. The members reviewed the 2018 activities of the ALSF and discussed the future of the organisation.
“If we get integration right, Africa can develop with dignity and confidence,” African Development Bank President Akinwumi Adesina told journalists at a press conference to herald the Bank’s 2019 Annual Meetings, due to open Tuesday in Malabo, Equatorial Guinea.
The theme of this year’s meetings is ‘Regional Integration for Africa’s Economic Prosperity.” Regional integration gained momentum with the agreement on the African Continental Free Trade Area (AfCFTA) in March 2018 and is now at the threshold of its launch next month.
"When you put your forces together, you can achieve the critical mass to be solid player on the global scene," African Development Bank's Chief Economist and Vice President of Economic Governance & Knowledge Management Celestin Monga told journalists at a press conference ahead of the Bank's Annual Meetings.