By Michael AdajiWACOT Rice Limited (WACOT) recently held a closing out ceremony to celebrate the successful conclusion of its co-investment partnership with the USAID-funded West Africa Trade & Investment Hub (Trade Hub). The event, which marked three years of dynamic collaboration, took place on February 13, 2024, at Fraser Suites Abuja.Among the distinguished guests at the event were Mr. Attahiru Maccido, Chief of Staff and representative of the Executive Governor of Kebbi State; Mr. Farouk Gumel, Chairman of WACOT; Senator Atiku Bagudu, Nigeria’s Minister for Budget... Read More »

President Bola Tinubu has announced the opening of both land and air borders between Nigeria and the Republic of Niger. Other sanctions against the country will also be lifted. Read More »

President Julius Maada Bio announced the opening of the Sardine Canning Factory of the SABCO Fishing Company in Freetown. Read More »

President Adama Barrow announced the commissioning of a new 23 Mega Watts Solar plant in Jambur in February, a culmination of the project which was started in 2023. Read More »

President Bola Tinubu has announced his approval of a Regional Coordinating Care Center with the Africa-CDC to be located in Nigeria. Read More »

President Adama Barrow welcomed ten state institutions to the State House in Banjul for the purpose of updating the president on the state of the economy during the first National Economic Council. Read More »

Henri Arslanian, co-founder of Nine Blocks Capital Management and a former partner at PwC, has called for the release of Tigran Gambaryan, a U.S. citizen and Binance employee who has been detained in Nigeria since February. Arslanian stated that Gambaryan "has dedicated his life to fighting crime and upholding the rule of law," according to a March 30 post on X. Read More »

The African Development Bank and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) have joined forces to combat money laundering and terrorism financing in their member countries through a new project.The project, named "Capacity Development for Anti-Money Laundering and Countering the Financing of Terrorism in GIABA Member States in Transition," will receive financial support from a $5 million grant provided by the African Development Bank Group. The initiative aims to enhance anti-money laundering and terrorism financing regimes in the... Read More »

Global Affairs Canada has provided $7.3 million in funding to the Africa Fertilizer Financing Mechanism (AFFM) to enhance sustainable agricultural productivity and smallholder farmer livelihoods in Africa. The funding will support the Mechanism in replicating its credit guarantee programs, enabling fertilizer importers and aggregators to access the product on credit, as well as improve soil health and provide technical assistance to farmers.Dr. Beth Dunford, Vice President for Agriculture, Human and Social Development at the African Development Bank Group, expressed... Read More »

Africa's immense economic potential is being hindered by non-transparent resource-backed loans, as highlighted by African Development Bank President Akinwumi Adesina. Speaking at the Semafor World Economy Summit, Adesina emphasized the need for debt transparency and accountability, stating, "I think it's time for us to have debt transparency accountability and make sure that this whole thing of these opaque natural resource-backed loans actually ends, because it complicates the debt issue and the debt resolution issue."Adesina drew attention to the challenges posed by... Read More »

Abuja, Nigeria, April 18, 2024 – Approval of the evaluation process of the Yaoundé Code of Conduct and the maritime safety and security architecture of the Gulf of Guinea to mark the 10th anniversary of the said process was one of the key recommendations of the 4th annual meeting of the heads of institutions of the Interregional Coordination Centre (ICC) held on 18 April 2024 at the headquarters of the Economic Community of West African States (ECOWAS) Commission in Abuja, Nigeria.The meeting, following a gathering of experts on 16 and 17 April 2024, served as a platform... Read More »

African Development Bank Group president, Dr Akinwumi Adesina is travelling to Brazil for a two-day official visit to meet with President Luis Inacio Lula da Silva, government officials, and the business community to discuss investment opportunities in Africa.Brazil is keen to strengthen its economic cooperation with Africa across a number of sectors including agriculture and health. During the visit, Brazil will formalize its membership of the Lusophone Compact, an agreement aimed at developing the private sector in the Portuguese-speaking countries of Africa known as... Read More »

The African Development Bank Group President, Akinwumi Adesina, has called for urgent action to address the impact of climate change on African countries. Adesina highlighted the vulnerability of Africa to climate change, stating that "Africa is in the eye of the storm from climate change, accounting for 9 out of the 10 most vulnerable countries to climate change globally."Speaking at a high-level roundtable on climate finance, Adesina emphasized the significant financing gap in climate adaptation, pointing out that Africa received only $30 billion per year while its... Read More »

The leaders of 10 multilateral development banks have come together to announce joint steps aimed at working more effectively as a system to increase the impact and scale of their work in addressing urgent development challenges. In a Viewpoint Note published at the conclusion of a retreat hosted by the Inter-American Development Bank (IDB), the leaders outlined key deliverables for joint and coordinated action in 2024 and beyond.The actions outlined in the Viewpoint Note represent a significant milestone in the collaboration amongst MDBs, with a focus on accelerating... Read More »

The ECOWAS Commissioner for Human Development and Social Affairs, Professor Fatou SOW SARR, recently addressed the press at the Commission's Headquarters in Abuja, focusing on the organization's efforts in the humanitarian field and youth development. Professor SARR emphasized the importance of ECOWAS policies in these areas, stating that "each of the components works for the development of the Community through regional policies that take into account sectors such as gender, education, youth and humanitarian aid."Regarding humanitarian issues, the ECOWAS Commission has... Read More »

President Adama Barrow, in his capacity as the Chancellor of the University of The Gambia, delivered a speech at the 16th Convocation Ceremony of the university. Addressing the audience, which included government officials, diplomats, religious leaders, scholars, and guests, President Barrow expressed his pride and honor in presiding over the event.He began by congratulating the graduands and emphasizing the significance of the ceremony, stating, "We are here to joyfully acknowledge and reward the dedication, perseverance, and hard work leading to this remarkable moment."... Read More »

President Joseph Nyuma Boakai, Sr., of Liberia recently hosted a significant assembly of members of the House of Representatives aligned with the Rescue Mission of the Ruling Unity Party. The assembly took place during a one-day Executive-Legislative Agenda Setting Retreat in Tubmanburg, Bomi County on Saturday, April 20, 2024.During the session at the Bomi City Hall, President Boakai emphasized the importance of the Agriculture Road Rule of Law Education Sanitation & Tourism (ARREST) Agenda, stating, "The ARREST Agenda is not a hidden agenda but one that is open for all... Read More »

Director of Economic Development, Damian Burns, represented St Helena at the Tourism Investment Forum Africa (TIFA) in Cape Town last week as part of the World Travel Market (WTM) Africa. At the forum, Damian unveiled the St Helena Investment Prospectus 2024, highlighting the investment and commercial opportunities available in the region.Speaking about the launch of the prospectus, Damian Burns stated, “Our island is an emerging destination with significant tourism potential and untapped investment opportunities. We are seeking investors who are looking for responsible,... Read More »

On April 24, 2024, African Hidden Champions (AHC) will gather prominent African business founders in Johannesburg for an exclusive Soirée, celebrating their entrepreneurial spirit and global endeavors. The event will include a private concert by acclaimed South African artist, Ami Faku.AHC, a partnership between Africa Foresight Group, DEG – Deutsche Investitions- und Entwicklungsgesellschaft, and the African Development Bank, aims to support African firms in expanding globally through various means of assistance. The soirée, themed "Proudly Local, Boldly Global," is also... Read More »

In a recent development at First Bank of Nigeria Limited, the Board of Directors has made significant changes in the leadership structure of the 130-year-old institution. Following the resignation of Dr. Adesola Adeduntan as the Managing Director / Chief Executive Officer, the Board has swiftly appointed Olusegun Alebiosu as the acting CEO, effective immediately.Alebiosu, who previously served as the Executive Director / Chief Risk Officer, played a key role in the transformation of FirstBank over the past eight years. With over three decades of banking experience,... Read More »