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Tag: AfDB

  • AfDB grants AXIAN Telecom $160 million loan to expand 4G, 5G networks

    AfDB grants AXIAN Telecom $160 million loan to expand 4G, 5G networks

    AXIAN Telecom has been granted a $160 million senior corporate loan by the African Development Bank (AfDB) to help them increase financial inclusion and digital access in nine African nations, with a special focus on the expansion of 4G and 5G technology.

    According to the announcement by AXIAN Telecom on Thursday, It will also spur digital innovation in its business practices, allowing it to go global.

    With an emphasis on the rollout of 4G and 5G networks, the loan will expedite the modernisation and growth of AXIAN Telecom’s network infrastructure.

    As a pioneer in Africa’s digital revolution, AXIAN Telecom, with its headquarters located in Mauritius, provides services to 42.9 million mobile customers, 11.4 million data users, and 15.2 million users of mobile financial services.

    Read also: 2 million Nigerians to gain electricity as AfDB invests $500M in Nigeria

    Aim to address gender inequality in financial services access 

    The financing is primarily focused on addressing gender differences in financial services access.

    AXIAN’s Mvola platform will be used to empower 22,000 women entrepreneurs in Madagascar, with over $10 million allocated for this purpose.

    Furthermore, a $2.5 million grant will improve 34,000 women-owned enterprises in Madagascar, Tanzania, and Senegal’s access to finance and financial literacy, allowing them to expand and enter the formal sector.

    “This investment reflects the African Development Bank’s commitment to driving Africa’s digital transformation and fostering inclusive growth. By supporting AXIAN Telecom’s growth plan, we are bridging the digital divide, creating opportunities for millions across the continent, and fostering innovation,” said Solomon Quaynor, Vice President for Private Sector, Infrastructure and Industrialization, African Development Bank.

    Quaynor noted the African Development Bank’s support as part of cooperation to accelerate progress, increase financial inclusion—particularly for women—and drive sustainable development.

    “Together, we are building the infrastructure and ecosystems that will enable Africa to thrive in the digital age,” Quaynor adds.

    Read also: Ethio Telecom, AfDB dialogue on possible partnership to boost Ethiopia’s digital economy

    Role of partnership in enhancing sustainable development 

    Hassan Jaber, CEO of AXIAN Telecom, noted that the African Development Bank funding emphasises the continent’s enormous digital potential as well as the vital role that cooperation plays in promoting sustainable development.

    “We are honoured to partner with an organisation that shares our vision of advancing Africa’s digital economy. The funding from the African Development Bank not only underscores the immense digital potential of the continent but also highlights the critical role of collaboration in driving sustainable development,” said Hassan Jaber, CEO of AXIAN Telecom.

    Jaber underlined that the African Development Bank’s assistance will strengthen the business’s current projects, which include promoting creative ways to close the digital divide and increasing access to reasonably priced internet while fitting in perfectly with their mobile businesses’ recent makeover under the Yas brand.

    He stated, “Yas represents our commitment to empowering a young, dynamic, and digitally connected population, embracing every opportunity with a resounding ‘YES.’ Together, this collaboration will help drive meaningful change across Africa’s digital landscape, furthering our shared mission of digital and financial inclusion.”

    The partnership is in line with the African Development Bank’s “Hi-5” development initiatives, specifically “Integrate Africa” and “Industrialise Africa,” which promote cross-border digital services, improve connectivity, and aid in financial inclusion.

  • 2 million Nigerians to gain electricity as AfDB invests $500M in Nigeria

    2 million Nigerians to gain electricity as AfDB invests $500M in Nigeria

    In a significant boost to Nigeria’s energy sector, President Bola Tinubu has announced that the Nigeria-Grid Battery Energy Storage System will receive a $500 million facility from the African Development Bank (AfDB).

    This announcement was made during President Tinubu’s participation in the Mission 300 Africa Energy Summit in Tanzania on January 28th, 2025, emphasising Nigeria’s commitment to enhancing its electricity infrastructure.

    Read also: Senegal secures $8.7 million AfDB fund to replace outdated bulbs with energy-efficient LED lighting

    Nigeria’s leap towards universal electricity access

    The facility is part of a broader strategy to achieve universal electricity access in Nigeria by 2030. According to President Tinubu, this investment will significantly contribute to providing electricity to an additional two million Nigerians. This move aligns with the country’s ambitious goals set in the Dar es Salaam Declaration, focusing on electrifying 300 million Africans by the end of this decade.

    President Tinubu detailed the progress made with support from international development partners, highlighting that the AfDB has already committed $1.1 billion, expected to electrify five million people by 2026. Additionally, the bank’s $200 million investment in the Nigeria Electrification Project aims to benefit 500,000 people by the end of 2025. The new $500 million for the Grid Battery Energy Storage System adds to these efforts, showcasing a comprehensive approach to tackling energy poverty in Nigeria.

    Tinubu at the mission 300 Africa energy summit in Tanzania

    The summit, hosted by Tanzania in collaboration with the African Union, AfDB, and the World Bank Group, has been pivotal in rallying African leaders around the issue of energy access. The Dar es Salaam Declaration was a highlight of the event, with leaders from twelve countries, including Nigeria, signing commitments for national energy compacts. These compacts aim to address sector-specific constraints and set realistic targets for energy access.

    Renewable Energy Initiatives in Nigeria

    President Tinubu also underscored Nigeria’s ongoing investments in renewable energy, particularly solar power, as part of its strategy to ensure sustainable development. He mentioned the federal government’s initiative to develop an electric vehicle (EV) charging infrastructure program emphasising renewable energy and introducing stricter vehicle emission standards. This initiative is expected to ease adoption barriers, foster partnerships, and provide affordable financing options for electric vehicles, with the first 100 electric buses already in the country.

    Read also: Sierra Leone adopts results-based financing to expand solar minigrid electrification

    Tinubu’s call for collective action on electricity in Africa

    Tinubu called for collective action among African leaders to prioritise energy access, emphasising that Africa’s rich energy resources should be harnessed to benefit its citizens. He thanked the heads of the World Bank Group and AfDB for their vision, which he described as transformative in lighting up and powering Africa. This call to action was about addressing immediate energy needs and fostering economic growth and prosperity across the continent.

    The $500 million facility from the AfDB for the Nigeria-Grid Battery Energy Storage System marks a significant step forward in Nigeria’s journey towards energy sustainability and universal access. With this investment, alongside other planned initiatives, Nigeria is poised to make substantial strides in electrification, which could serve as a model for other African nations striving to overcome energy poverty. As Africa moves towards collective energy solutions, the impact of such investments will be closely watched to inform future policy and investment decisions in Tanzania, Nigeria, and beyond.

    This development signifies progress in Nigeria’s energy sector and reinforces the commitment of international bodies like the AfDB to support Africa’s developmental agenda, particularly in critical areas like energy, where access can transform lives, economies, and environments.

  • Ethio Telecom, AfDB dialogue on possible partnership to boost Ethiopia’s digital economy

    Ethio Telecom, AfDB dialogue on possible partnership to boost Ethiopia’s digital economy

    In an effort to strengthen Ethiopia’s digital economy and advance Africa’s larger digital transformation, Ethio Telecom and the African Development Bank (AfDB) have initiated a strategic dialogue on funding Ethio Telecom’s digital transformation projects, the state-owned telecom announced on Thursday.

    Increasing rural connectivity, developing fintech and cloud service innovation, and growing digital infrastructure are a few of the digital transformation projects.

    Read also: Ethio Telecom, Ministry of Innovation partner to enhance access to digital services for all Ethiopians

    AfDB Vice President of the Private Sector, Infrastructure, and Industrialisation Complex H.E. Solomon Quaynor, Deputy Director General for the East Africa Region Dr Leandre Bassole, and the bank’s senior management team visited Ethio telecom for a high-level strategic meeting in recognition of this shared vision.

    AfDB’s support for Ethio Telecom’s $1.1bn digital and telecom investment plan 

    The African Development Bank (AfDB) commended Ethio Telecom’s efforts to close the digital divide and reiterated its support for the company’s $1.1 billion investment plan in digital and telecom infrastructure.

    Frehiwot Tamru, the CEO, chaired the discussions, which centred on the company’s ambitious plan to realize a Digital Ethiopia and beyond.

    Ethio Telecom’s CEO explained during the conversation how Ethio Telecom is steadily expanding and developing as a major participant in Ethiopia’s and Africa’s digital transformation process.

    Frehiwot underlined how Ethiopian telecom is a dynamic force that is promoting economic opportunity and digital inclusion in Ethiopia and throughout Africa. The CEO emphasised how urgently funding is needed to grow telecom networks, which are the fundamental building blocks that enable many industries.

    Read also: Ethio Telecom, Jigjiga City Administration sign agreement to execute Smart City project

    Ethio Telecom’s efforts in Ethiopia’s digital transformation agenda 

    In addition to actively supporting Africa’s wider digital growth, the company is speeding Ethiopia’s transformation to a fully connected, technology-driven economy by growing its user base and launching cutting-edge digital products.

    Ethio Telecom, one of Africa’s biggest telecom providers, is dedicated to using technology to close the digital divide, generate income, and promote a more sustainable and inclusive future.

    CEO Frehiwot Tamru, stressed at the conference that Ethio Telecom is aggressively seeking important partners, especially financiers, to fulfill its vision of an Africa empowered by technology.

  • Senegal secures $8.7 million AfDB fund to replace outdated bulbs with energy-efficient LED lighting

    Senegal secures $8.7 million AfDB fund to replace outdated bulbs with energy-efficient LED lighting

    The African Development Bank (AfDB) has approved a loan of €8.51 million ($8.7 million) to support Senegal’s “Programme to Promote Efficient Lighting Lamps” (PPLEEF), an innovative initiative designed to transform energy consumption across the country.

    The project funding, which was announced on Monday January 13 on AfDB’s website,  represents the AfDB’s first fully demand-side energy efficiency investment, positioning Senegal as a trailblazer in sustainable energy practices on the continent.

    Read also: Senegal Receives €5.01m Digital Technology Park Fund From AfDB

    PPLEEF targets nearly 700,000 households and 80,000 small businesses across Dakar, Thiès, and Diourbel, introducing energy-efficient LED lighting to replace outdated incandescent bulbs. This shift is expected to deliver significant energy savings, lower electricity costs, and reduce carbon emissions. The initiative will use an on-bill financing model, allowing participants to pay for the cost of the new bulbs through monthly energy savings, ensuring affordability and accessibility.

    Innovative approach to sustainable energy

    “The PPLEEF is a milestone for Senegal’s commitment to sustainable development and universal energy access,” said Jalel Chabchoub, Chief Energy Efficiency Officer at the AfDB. “The program will cut energy demand during peak hours and pave the way for introducing efficient appliances in subsequent phases. It’s a model for building a sustainable energy future in Senegal and across Africa.”

    With annual electricity savings projected at over 189 GWh, the initiative aims to ease pressure on Senegal’s national grid while redirecting resources to enhance electricity availability and access for underserved populations. The AfDB emphasises that projects like PPLEEF reduce the immediate need for costly power plant investments by lowering energy consumption during high-demand periods.

    Empowering households and businesses

    The General Director of Senegal’s Agence pour l’Économie et la Maîtrise de l’Énergie (AEME), Mame Coumba Ndiaye, underlined the program’s financial and environmental benefits: “This project will have a positive impact on household and small business budgets by reducing energy bills. It also enhances grid stability and supports broader electricity access goals.”

    Read also: Senegal blasts out its first satellite into space

    As part of Senegal’s larger energy strategy, PPLEEF aligns with the country’s sustainability goals and reflects a broader continental movement towards energy equity. The program builds on the momentum of initiatives like ‘Mission 300,’ a partnership between the AfDB and the World Bank Group aimed at closing Africa’s energy access gap.

    A scalable model for Africa

    PPLEEF’s scalable and replicable design provides a template for other African nations seeking to adopt sustainable energy practices. With the AfDB having committed $6 billion to energy projects across Africa between 2019 and 2024, the Senegal initiative exemplifies the potential of innovative financing and technology to accelerate the continent’s sustainable development agenda.

  • AfDB and Intel unite to train three million Africans in advanced AI skills

    AfDB and Intel unite to train three million Africans in advanced AI skills

    The African Development Bank (AfDB) and technology giant Intel have launched a groundbreaking initiative to equip three million Africans and 30,000 government officials with advanced artificial intelligence (AI) skills.

    This collaboration, highlighted in a statement on the AfDB’s website, marks a significant stride toward revolutionising the African digital ecosystem.

    Read also: Mastercard-AfDB Digital Economy Alliance to boost African digital access

    AfDB, Intel Partnership to Transform Africa with Advanced Technologies

    The partnership focuses on providing Africans with skills in cutting-edge technologies such as AI, robotics, and data science. These competencies are crucial for enhancing economic growth and productivity across the continent. By training many individuals, the initiative seeks to enable Africa to take an active role in developing and innovating AI technologies.

    The training program is poised to substantially impact various sectors, including agriculture, health, and education. By addressing socioeconomic challenges and improving productivity, the program aims to foster sustainable development and elevate Africa’s overall quality of life.

    Bienvenu Agbokponto Soglo, Intel’s director of government affairs Africa and International Government Affairs chief technology officer liaison, expressed Intel’s enthusiasm for the partnership. Soglo emphasised Intel’s commitment to making advanced technologies like AI accessible to everyone, regardless of location, gender, or ethnicity. This inclusive approach aims to enable broader participation in the digital economy.

    Developing Unified Digital Policies

    Beyond individual training, the partnership also aims to assist African countries, regional groups, and continental organisations develop consistent policies and regulations for digital technologies such as AI, 5G, and cloud computing.

    This effort seeks to create a unified approach to digital transformation across Africa, ensuring cohesive and comprehensive technological advancement.

    While African nations strive to catch up in AI, notable progress is being made. For instance, Nigeria recently launched its first multilingual large language model, positioning itself as a leader in AI development on the continent.

    Read also: Unleashing AI in SAP Cloud ERP with AWS

    Despite these advancements, many African countries, including Nigeria, face a significant talent gap in building AI technology that rivals global tech giants like OpenAI, Google, and Meta.

    The high cost of training AI models presents a substantial barrier for individuals and organisations outside the tech industry. This financial challenge hampers their ability to engage in the AI revolution fully.

    OpenAI’s CEO, Sam Altman, highlighted this issue by mentioning the high training costs for GPT-4 and the need to raise significant funds to address the global shortage of semiconductor chips.

    The collaboration between AfDB and Intel represents a pivotal step in addressing these challenges and empowering Africa to become a key player in the global AI landscape.

    By equipping millions with advanced AI skills and fostering an inclusive digital ecosystem, this initiative aims to drive significant economic and social transformation across the continent.

  • Mastercard-AfDB Digital Economy Alliance to boost African digital access

    Mastercard-AfDB Digital Economy Alliance to boost African digital access

    Mastercard and the African Development Bank (AfDB) have joined forces to enhance African digital access through the Mastercard-AfDB Digital Economy (MADE) Alliance. 

    This initiative aims to connect 100 million people and businesses to essential digital services over the next decade, marking a significant step forward in Africa’s digital transformation.

    The MADE Alliance is a strategic collaboration designed to foster digital inclusion and economic growth across the continent. By leveraging Mastercard’s expertise in digital payments and AfDB’s extensive network and resources, the alliance seeks to create a robust digital ecosystem that empowers individuals and businesses alike.

    Read also: Access Bank, Mastercard partner for cross-border payments in Africa

    One of the primary goals of the MADE Alliance is to connect 100 million people and businesses to vital digital services by 2034. This ambitious target reflects the alliance’s commitment to bridging the digital divide that has long hindered Africa’s development. By providing greater access to digital tools and services, the partnership aims to drive economic growth, improve livelihoods, and enhance millions of Africans’ overall quality of life.

    Focusing on Agriculture and Women’s Empowerment

    The initiative will initially focus on two critical areas: agriculture and women’s empowerment. 

    Agriculture remains a cornerstone of many African economies, and the MADE Alliance aims to revolutionise this sector through digital innovation. The initiative will provide access to real-time data, market information, and financial services by connecting farmers to digital platforms. These tools can help farmers increase their productivity, access new markets, and ultimately improve their incomes. Digital solutions like mobile banking and e-commerce platforms will enable farmers to manage their businesses more efficiently and sustainably.

    Empowering women is another critical priority for the MADE Alliance. Women play a crucial role in Africa’s economy, yet they often face significant barriers to accessing digital services and financial resources. The initiative will focus on providing women with the tools and knowledge they need to thrive in the digital economy. This includes access to digital financial services, entrepreneurship training, and support for women-led businesses. By empowering women, the alliance aims to foster inclusive economic growth and promote gender equality across the continent.

    Driving Africa’s Digital Era

    The partnership between Mastercard and AfDB represents a significant milestone in Africa’s journey towards a more connected and inclusive digital future. By addressing critical barriers to digital access and fostering innovation, the MADE Alliance is set to drive substantial progress in the region’s digital transformation.

    A crucial aspect of the MADE Alliance is the creation of a sustainable digital ecosystem that can support long-term growth and development. This involves providing access to digital services and ensuring that the necessary infrastructure, policies, and skills are in place to sustain these advancements. The alliance will work closely with governments, private sector partners, and local communities to build a robust and resilient digital infrastructure that can adapt to changing needs and challenges.

    MADE will Promote Financial Inclusion and Digital Literacy

    Financial inclusion is a core component of the MADE Alliance’s mission. By expanding access to digital financial services, the initiative aims to bring more people into the formal economy and provide them with the tools they need to manage their finances effectively.

    Read also: Injini Mastercard Foundation supports 12 startups in South Africa

    This includes access to mobile banking, digital payments, and microfinance services that can help individuals and businesses build financial security and resilience.

    To ensure the success of the MADE Alliance, it is essential to promote digital literacy and skills development across the continent. The initiative will provide education and training programs that equip individuals with the knowledge and skills to navigate the digital landscape.

    This includes everything from basic digital literacy to advanced technical skills, helping to create a digitally savvy workforce that can drive innovation and growth.

  • DRC kick-starts €66.55 million fibre optic line project

    DRC kick-starts €66.55 million fibre optic line project

    As a big step towards improving its digital infrastructure, the Democratic Republic of the Congo (DRC) has started a €66.55 million fibre optic line project.

    The African Development Bank (AfDB) paid for the project, which helped the country reach its goal of becoming a digital hub in Central Africa.

    To link with Cameroon and the Central African Republic, the project will lay 600 kilometres of fibre optic wire and build a state-of-the-art National Data Centre in Brazzaville.

    The Congolese government is giving the last €14.50 million, and the AfDB is giving €52.47 million.

    Read also: Bokra, Egyptian fintech secures $4.6 million to support SMEs

    Empowering DRC’s Digital Landscape with Fibre-Optic Backbone

    The Central Africa Fibre-Optic Backbone project supervisor, Michel Ngakala, stressed how vital this project is for the DRC’s digital autonomy.

    “Congo will soon be the only country in Central Africa to have its own data centre,” Ngakala said. “This means our data and communications will no longer need to pass through servers in Europe or America. Everything will be managed locally.”

    Samatar Omar Elmi, Chief ICT Specialist at the AfDB, highlighted the broader significance of the project.

    “Locally produced data will create a virtuous cycle of local value creation, benefiting the entire digital ecosystem,” Elmi noted. The project aims to boost internet penetration in the DRC, 17.4% in early 2022, compared to 43.0% for Africa and 68.6% globally.

    Scheduled for completion by December 2024, the data centre will include server rooms, monitoring facilities, and energy-efficient systems.

    For example, telecom companies, banks, and insurance companies will be able to hold data locally with the help of this technology.

    The Future of Connectivity: Nigeria’s Fibre Optic Plans

    Nigeria has announced an expansive plan to enhance its fibre optic network in a related development. Following a Federal Executive Council meeting, the country secured approvals to establish a Special Purpose Vehicle (SPV) for deploying an additional 90,000 kilometres of fibre optic cable.

    With this project, Nigeria will add 125,000 kilometres to its current 35,000 kilometres of infrastructure for connecting people and things. 

    The SPV will be based on Public-Private Partnerships that have worked well in the past, such as the Nigeria Liquefied Natural Gas Limited (NLNG) and the Nigeria Inter-Bank Settlement System (NIBSS). Nigeria wants to build Africa’s third-longest ground fibre optic backbone using resources from the public and private sectors.

    Read also: The Green Climate Fund sees an increase in pledges

    Nigeria aims to maximise the capacity of its eight subsea cables, which are 10% underutilised. With over 200,000 connected educational, healthcare, and social institutions, this expansion will close the non-consumption gap and boost internet penetration above 70%. Millions more Nigerians will be online as internet access costs decrease by almost 60%.

    The DRC and Nigeria are improving their digital infrastructures to alter their economies and communities. As Africa’s digital connection improves, the DRC’s AfDB-backed fibre optic project and Nigeria’s ambitious expansion plan lay the foundation for significant economic growth and development.

  • Rwanda healthcare Innovation secures $12 million AfDB grant

    Rwanda healthcare Innovation secures $12 million AfDB grant

    In Abidjan on February 27, 2024, the African Development Fund (AfDB) Board of Directors approved a $11.96 million grant to speed up the creation of the African Pharmaceutical Technology Foundation in Kigali, Rwanda.

    The Rwandan government will provide $1.93 million to the Regional Pharmaceutical Sector Support Project with African Development Bank Group Regional Public Good window funding.

    “The project should produce considerable benefits (outputs and outcomes) throughout Africa,” said African Development Bank Rwanda local office head Aissa Touré Sarr. Leading-edge research and technology breakthroughs of the African Pharmaceutical Technology Foundation should improve healthcare outcomes by giving access to improved medications and treatments, combating prevalent diseases, and strengthening the continent’s health resilience.

    Read also: How Technology Improves Healthcare in Africa

    Africa Development Fund aid

    African Development Fund assistance should promote access to sophisticated pharmaceutical technologies and pharmaceutical industry regulation in Africa.

    In December 2023, Rwanda’s government signed a host country agreement with the African Pharmaceutical Technology Foundation, established by the African Development Bank Board of Directors in June 2022.

    Given the challenges African countries face in accessing technology to manufacture medicines and vaccines, this foundation will promote and negotiate with pharmaceutical multinationals and other Southern countries on sharing technology, know-how, and intellectual property-protected patents. 

    The organisation will teach African pharmaceutical companies new technology and modernise production locations to boost productivity. A strong continent-wide sector will result from improved industry, R&D ecosystem, and pharmaceutical and vaccine innovation skills.

    The Foundation, recognised by the Rwandan government as an international institution, will use the African Development Fund award to buy office equipment, hardware, and software and engage specialists and speciality technological firms to deliver health and pharmaceutical services. In addition to administrative and human resources, specialists will build financial and contract award processes. 

    Read also: AfDB, IDB, IFAD commit $1B to Nigeria’s agriculture sector

    African Union Medicines Agency Partnerships

    The African Pharmaceutical Technology Foundation will work with the African Union Medicines Agency, Africa CDC, the EU, the WHO, the WTO, the Medication Patent Pool, philanthropic organisations, and bilateral and multilateral agencies and institutions.

    Information, awareness, consultancy, manufacturer training in excellent manufacturing practices, and tacit knowledge transfer research tours will also be supported by the initiative. It will improve pharmaceutical quality and safety and hasten the development of a regional mutual recognition system to harmonise East African Community medicine rules. It will support combined reviews of medical product paperwork, inspections of reasonable manufacturing procedures, signal detection and investigations, and antibiotic post-marketing surveillance.

    The European Investment Bank and the foundation, the first to engage with the public and commercial sectors in Africa, North America, Europe, and the developing world, have signed a memorandum of agreement. German backing is also significant.

  • AfDB, IDB, IFAD commit $1B to Nigeria’s agriculture sector

    AfDB, IDB, IFAD commit $1B to Nigeria’s agriculture sector

    In a groundbreaking development for Nigeria’s agribusiness sector, the African Development Bank (AfDB), in partnership with the Islamic Development Bank (IDB) and the International Fund for Agricultural Development (IFAD), has allocated an additional $1 billion to propel the creation of Special Agro-Industrial Processing Zones (SAPZs) across 24 states in Nigeria.

    This comes as an expansion of the initial $520 million investment made by these development partners to establish eight SAPZs within the country.

    The announcement was made by Dr. Akinwumi Adesina, President of the AfDB, during his address at the Norman Borlaug International Dialogue for the World Food Prize 2023 in Des Moines, Iowa, USA. The ongoing event, attended by Vice-President Kashim Shettima, who represented Nigeria, focuses on food security and diversification, aligning with Nigeria’s commitment to agricultural transformation as part of its national agenda.

    Adesina’s speech, titled “From Dakar to Des Moines,” emphasized the substantial funding injection into Nigeria’s agribusiness. The objective is to establish SAPZs across 13 countries to support the development of agricultural value chains, food processing, value addition, and the necessary infrastructure and logistics for local, regional, and international trade.

    The African Development Bank Group has committed a staggering $853 million towards the development of SAPZs. This monumental initiative has further attracted additional co-financing amounting to $661 million, culminating in a total investment commitment of $1.5 billion.

    Read also: AfDB, Google partner for technology advancements

    Advancing Agricultural Value Chains

    President Adesina expressed the Bank’s focus on deploying effective partnerships at a large scale, citing the ongoing implementation of 25 Special Agro-Industrial Processing Zones across 13 countries. Furthermore, the AfDB and the International Fund for Agricultural Development have already provided $520 million for the development of eight SAPZs in Nigeria.

    The second phase of this program aspires to mobilize an additional $1 billion to establish SAPZs in 24 states across Nigeria. This substantial investment signifies a collective commitment to foster the development of the agribusiness sector, laying the foundation for economic growth, job creation, and enhanced food production.

    Adesina’s address also acknowledged the existing challenges within the agricultural landscape, particularly the persistence of hunger. Despite the remarkable progress in African agriculture, an alarming 283 million people across the continent continue to suffer from hunger, representing roughly one-third of the global population facing this issue.

    Leveraging Agricultural Potential with Science and Technology

    The Norman Borlaug International Dialogue World Food Prize 2023 was recognized by President Adesina as an endeavor that integrates science, technology, policies, and politics to unlock Africa’s agricultural potential fully. Through this platform, Africa aims to feed its population with pride and eliminate food insecurity.

    Adesina commended the participation of Vice-President Kashim Shettima and President Sahle-Work Zewde of Ethiopia in the global event, indicating the continent’s political determination to address food insecurity and eradicate hunger.

    Vice-President Shettima reiterated Nigeria’s focus on food security as he presented the initiatives pursued by the Tinubu administration. Shettima affirmed that the quality of leadership in Nigeria and the broader African continent is pivotal in driving transformation within agriculture and various sectors.

    He emphasized the fundamental role of leadership, stating that the quality of leadership plays a substantial role in a nation’s rise or fall. Shettima pointed out that Africa is fortunate to have several high-quality leaders who are driven, passionate, and equipped with the skills to redefine modern leadership. He cited President Tinubu, Macky Sall of Senegal, and Abdel Fattah El-Sisi of Egypt as examples of leaders who are distinguishing themselves with exceptional leadership.

    Shettima lauded President Tinubu as a modern African leader, poised to redefine leadership in the 21st century. He expressed optimism that Nigeria, as an anchor nation, will experience transformative changes in the coming years under President Tinubu’s leadership.

    MGI supports AfricaBP in advancing genomics for biodiversity, agriculture

    Transforming Wheat and Rice Production

    Shettima elaborated on Nigeria’s goals for wheat and rice production, focusing on increasing self-sufficiency. For wheat production, Nigeria aims to achieve 50% self-sufficiency within the next three production cycles. To facilitate this, the country has already procured heat-tolerant wheat seeds and will support farmers with the necessary resources, including heat-tolerant variety seeds, agricultural extension services, fertilizers, and the expansion of irrigation areas.

    The goal is to produce approximately 2.4 million tonnes of wheat grains within Nigeria. These efforts will involve small irrigation schemes, digitalization, innovative financing, partial credit guarantees, and crop insurance to provide comprehensive support across the value chain.

    Regarding rice production, Shettima emphasized the challenge of insufficient paddy rice to meet domestic demands. Nigeria boasts ample milling capacity, but there is a need to produce three to four million tonnes of paddy rice to meet the annual requirement of 2.5 million tonnes. With 75 million hectares of arable land, most of which are suitable for rice cultivation, Nigeria aims to provide farmers with certified seeds, fertilizer, extension services, digitalization, inputs, financial support, and market information.

    The ultimate objective is to achieve self-sufficiency in rice production, with the latest target set for 2027.

    Vice-President Shettima also discussed the Special Agro-Industrial Processing Zones (SAPZs), reiterating the government’s commitment to create an enabling environment for investors in these zones. This commitment includes establishing an SAPZ development authority that will operate as a one-stop shop, addressing regulatory and associated issues. The aim is to foster investment, innovation, and growth within Nigeria’s agribusiness sector.

    The partnership between the African Development Bank, the Islamic Development Bank, and the International Fund for Agricultural Development is a monumental boost for Nigeria’s agribusiness sector. These investments are set to catalyze the development of Special Agro-Industrial Processing Zones, enhance agricultural value chains, and ultimately contribute to food security, economic growth, and job creation across the country. With a clear vision and a commitment to leadership, Nigeria is well on its way to transforming its agriculture sector and ensuring a brighter future for its citizens.

  • AfDB imposes debarment on Joycot General Contractors ltd

    AfDB imposes debarment on Joycot General Contractors ltd

    The African Development Bank Group has taken a decisive stance against Joycot General Contractors Ltd., a construction company registered under Kenyan law, by imposing a 15-month debarment, effective from September 8, 2023. 

    This stern action follows a comprehensive investigation conducted by the Bank’s Office of Integrity and Anti-Corruption, which uncovered fraudulent practices by the company in connection with a tender related to the construction of reticulation sewers in Kahawa West, Kahawa Sukari. This project is a vital component of the Nairobi Rivers Basin Rehabilitation and Restoration Programme: Sewerage Improvement Project Phase II, situated in Kenya.

    Nairobi’s Sewerage Improvement Project held a substantial objective – to enhance access, quality, availability, and sustainability of wastewater services in Nairobi City. This project aimed to address crucial wastewater infrastructure needs and improve the overall urban environment.

    Read also: African Development Bank (AfDB), Korea to advance climate-resilient technologies 

    Consequences of AfDB’s Debarment of Joycot General Contractors Ltd. 

    In light of the debarment, the contractor will be ineligible to participate in any Bank Group-financed activities during the 15-month period. This stringent measure serves as a resolute message that fraudulent practices will not be tolerated within projects funded by the African Development Bank Group.

    Upon the completion of the 15-month debarment period, Joycot General Contractors Ltd. will have the opportunity to regain eligibility for participation in African Development Bank Group-financed activities. However, this reinstatement can only occur once the company successfully implements an integrity compliance program that aligns with the Bank’s guidelines. This program will serve as a pivotal step in restoring the company’s standing and ensuring future adherence to ethical standards.

    The Role of the Office of Integrity and Anti-Corruption

    AfDB‘s Office of Integrity and Anti-Corruption plays a pivotal role in upholding the institution’s commitment to integrity and transparency. This office is responsible for preventing, deterring, and investigating allegations of corruption, fraud, and other sanctionable practices in Bank Group-financed operations. By diligently addressing instances of misconduct, the Bank reinforces its dedication to ethical conduct and the responsible use of resources in the pursuit of its development objectives.

    The debarment of Joycot General Contractors Ltd. underscores the African Development Bank Group’s unwavering commitment to ensuring that funds allocated for development projects are used transparently and responsibly. It serves as a powerful deterrent against fraudulent practices and sends a clear message that such behavior will have severe consequences.

    Fraudulent practices within development projects can have far-reaching consequences. They not only undermine the intended objectives of projects but also erode trust in the institutions responsible for funding and oversight. In this case, the fraudulent activities uncovered in the tender process for the reticulation sewers project jeopardized the critical goal of improving wastewater services in Nairobi City.

    AfDB, Google partner for technology advancements

    A Crucial Project for Nairobi

    The Nairobi Rivers Basin Rehabilitation and Restoration Programme: Sewerage Improvement Project Phase II was a significant initiative aimed at addressing the pressing need for enhanced wastewater services in Nairobi. Access to clean and reliable wastewater infrastructure is essential for urban development and public health. By tampering with the project’s integrity, Joycot General Contractors Ltd. put the well-being of Nairobi’s residents and the city’s overall development at risk.

    The 15-month debarment of Joycot General Contractors Ltd. is not just a punitive measure; it’s a signal to all parties involved in development projects that ethical conduct is non-negotiable. The African Development Bank Group is committed to upholding the highest standards of transparency and integrity to ensure that its funding leads to meaningful and sustainable development outcomes.

    Joycot General Contractors Ltd. now faces a path to redemption. During the 15-month debarment period, the company must take concrete steps to implement an integrity compliance program that aligns with the Bank’s guidelines. This program should encompass rigorous measures to prevent future misconduct and promote ethical practices in all aspects of its operations.