• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing
    Malawi’s Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market
    $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank
    $20 Million has been endorsed by the AfFB to enhance the business to strengthen investments for Climate-Smart Agriculture in Mozambique AfDB Divulged
    Nigeria’s Telecom Contribution to the Gross Domestic Product (GDP) Hits 16 per cent in the Second Quarter of 2023- report
    Philip Mpango Vice President of Tanzania called for a Global Partnership to address the existing Demographic Emergency
    Dr. Akinwumi Adesina President of the AfDB raised an eyebrow at the Improvement to Failing Global Financial Architecture
    N125 billion hoisted by MTN Nigeria through Commercial Paper Issuance by way to improve its Financing Alternatives
    Uganda will start to export Milk products to Algeria in October
    Ghana’s Ambassador to Togo Kofi Mensah Demitia strengthened existing Economic Cooperation between Ghana and Togo in the path of the African Continental Free Trade Area (AfCFTA)

    African Development Bank (AfDB) bagged an Award of Excellence as the best Multilateral Financial Establishment in the Globe

    Posted On 13 Mar 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 12

    By Abdul Rahman Bangura–

    Photo Credit: Modern Diplomacy

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– The African Development Bank (AfDB) has been dubbed as the “Best Multilateral Financial Institution in the world for 2021”. The US magazine, Global Finance, specializing in financial markets and investment banking, did the appraisal and published the honor. It is an accepted commendation for the path-breaking undertakings of the Bank as it renovates itself into a solvents bank for Africa through a variety of its operations, knowledge services, and investment positioning, which proceed to expedite Africa’s development.

    Exactly in February 2021, Standard & Poor – a universal rating agency asserted the African Development Bank’s “AAA/A-1+” foreign currency issuer credit rating with a stable outlook. Also, about this time last year, the bank received the Environmental Finance’s 2020 bond of the year award – SSA category – for a successful one billion Norwegian Krone social bond published in 2019. The award by Global Finance is a commitment of the attainment of the functional policy being sought by the African Development Bank under the leadership of Dr. Akinwumi Adesina who was agreeably re-elected to an additional consecutive five-year term as President of the institutions in 2020.

    “With widespread expectations of consolidation in multiple sectors and all around the world, investment banks will play a leading role in reshaping the world economy post-pandemic,” let out Joseph D. Giarraputo, Publisher and Editorial Director of Global Finance on broadcasting the winning list.

    “Companies need more than ever to understand the specialties and skills that investment banks bring to the table. Global Finance awards are a valuable guide.”

    In 2020, the African Development Bank obtained vast commendation for reacting swiftly to the desires of the African mainland in the wake of the Novel Coronavirus (Covid-19) pandemic and for its pioneering position in the global social bond market. In October last year, the African Development Bank was assigned in a survey of international bond market actors as the best issuer for its $3 billion denominated Fight Covid-19 social bond, issued on March 27th, 2020.

    The Bank’s Fight Covid-19 Social bond was the biggest ever US dollar-denominated bond in world history, floated on the Luxembourg stock exchange and listed on the London Stock Exchange and the Nasdaq Sustainable Bond Platform. The Environmental Finance’s 2020 bond of the year award – SSA category – received last year pursued a prosperous one billion Norwegian Krone social bond issued in 2019. It was the first social bond ever launched in the
    Norwegian market, and the African Development Bank’s first transaction in Norwegian Krone.

    Since 2017, the AfDB has inaugurated nearly $5 billion worth of such instruments, denominated in US dollars, euros, and Norwegian Krone.

    Bank President Dr. Adesina, noted: “I am delighted at Global Finance’s recognition of the African Development Bank as the best multilateral financial institution in the world in 2021. I am proud that for first time since its establishment in 1964, the African Development Bank has risen to a position as a foremost globally-respected financial institution.”

    Adesina characterized the award as one which was “duly earned” and credited the Bank’s renewed achievement to a new culture of results, strong client orientation, leadership, creativity and continued innovation by a team of excellent staff across all its jurisdictions. He added: “We are constantly innovating, developing and deploying financial, investment and knowledge products to meet the rapidly changing needs of African countries and the private sector.”

    The Bank has begun again to earn tremendous backing from its shareholders, constituting an improvement in its subscribed capital from $93 billion to $208 billion, the largest gain in its capital since its establishment.

    According to Adesina “The extraordinary support of our shareholders and the strong corporate governance of the Bank’s board of directors have served us well. We will continue to leverage our resources to better serve our clients.”

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Africa Development Bank Approves Grants for Research Efforts to Enhance Women’s Digital Access to Loans and Microinsurance

    Next Story

    Ethiopia, with the Common Market for Eastern and Southern Africa (COMESA), Signed Sub-delegation Agreement for Upgrading Border Posts

    12 Comments

    1. Charles March 13, 2021 at 6:29 am Reply

      Governments in our great Continent, all knew the great jobs that African development bank is doing all over. Thank you for the report. Charles in Otavi Namibia

      • New Africa Business News, Staff Correspondent March 13, 2021 at 6:29 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Patient March 13, 2021 at 6:34 am Reply

      Africa development bank deserved to win all multi national banking awards. Just because of the beautiful work they doing in great Afrika. Kigali, RWANDA. Patient

      • New Africa Business News, Staff Correspondent March 13, 2021 at 6:34 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Andy March 13, 2021 at 6:36 am Reply

      Thank you for the newsletters. Andy in Bristol, UK

      • New Africa Business News, Staff Correspondent March 13, 2021 at 6:37 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Chiwa March 13, 2021 at 6:41 am Reply

      I love the goals and objectives that this great bank have for the continent. Salima, Malawi. Chiwa

      • New Africa Business News, Staff Correspondent March 13, 2021 at 6:42 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Taci March 13, 2021 at 6:45 am Reply

      Great bank, great Leadership. We getting their. Thank you for the beautiful report, Journalist Bangura. Goba in Ethiopia. Taci

      • New Africa Business News, Staff Correspondent March 13, 2021 at 6:46 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Fadi March 13, 2021 at 6:48 am Reply

      Big projects all over our great continent. BEAUTIFUL. Fadi in Accra Ghana

      • New Africa Business News, Staff Correspondent March 13, 2021 at 6:49 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing

    Posted On 26 Sep 2023

    Malawi's Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market

    Posted On 25 Sep 2023

    $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank

    Posted On 22 Sep 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing

    Malawi's Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market

    $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank

    Recent Posts

    • Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing
    • Malawi’s Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market
    • $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank
    • $20 Million has been endorsed by the AfFB to enhance the business to strengthen investments for Climate-Smart Agriculture in Mozambique AfDB Divulged
    • Nigeria’s Telecom Contribution to the Gross Domestic Product (GDP) Hits 16 per cent in the Second Quarter of 2023- report

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.