• 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
    $1.1 Billion Senegal’s postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World
    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    Nigeria Launches National Domestic Payments Card Program
    In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
    $30 Billion has been pledged by the African Development Bank and Development Partners to Finance Food and Farming in the Next Five Years
    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing
    Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report
    Growers in Uganda to succeed from Nigeria’s AFEX’s Tech-Enable Products having expanding its Products Exchange Business in Nigeria’s AFEX from Kenya

    African Development Bank Glorifies United Kingdom Regarding Investments in the Bank

    Posted On 23 Jan 2020
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Suagibu –

    Photo Credit: Depositphotos

    NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- ENGLAND, African Development Bank (AfDB) President Dr. Akinwumi Adesina, has praised the United Kingdom’s Department for International Development (DFID) over its investments in the bank. He made the glorification while speaking at the at the UK-Africa Investment Summit, “Sustainable Infrastructure Forum.”

    Stressing that, the DFID is a key strategic partner of the AfDB, Adesina pronounced that since the DFID joined the bank in 1983, its “strong and consistent support for the African Development Fund has helped us to support the development of low-income states, especially the fragile states.”

    The AfDB said, with the DFID’s support; the AfDB through its operations, in the last four years “has helped to connect 18 million people to electricity, 101 million people with access to improved transport and 60 million people with access to improved water and sanitation.”

    He highlighted that, even though there was presently a lot of talk about the continent’s infrastructure financing gap, the issue should be focused in terms of the infrastructure demand opportunity for financing, adding that there is $68-108 billion annual investment opportunity in areas such as railways to ports, airports, water, sanitation, ICT and energy.

    However, he stated that, many of these opportunities can’t be realized unless there is a lot more investment in project preparation, “to make projects bankable.”

    “Institutional investors hold a large pool of capital that needs to be mobilized and channeled into financing of infrastructure. Total assets under management alone by pension funds, sovereign wealth funds and the insurance sector in Africa is about $1.8 trillion.

    “Tapping just a fraction of this into infrastructure will go a long way to close the infrastructure financing gap. Many reforms are needed. One is to designate infrastructure as an asset class for institutional investors. Meeting their infrastructure allocation targets would require them to hire quality staff who understand infrastructure,” he noted.

    The Bank’s President said, while borrowing to finance infrastructure, it can be good for many countries, especially if such financing is concessional, greater focus should also be put on ensuring that governments attract the private sector into infrastructure financing.

    “More focus is also needed to improve the policy, legal and regulatory environment to support greater private sector investments in infrastructure,” he stated.

    Adesina pointed out that the AfDB; through its NEPAD infrastructure project preparation facility, has helped to mobilize financing for $8.5 billion of infrastructure projects.

    Added that, the AfDB helped to enact “Africa 50,” an institution to support infrastructure project preparation and financing which has “raised over $860 million and will now be establishing a $1 billion third-party private fund to finance infrastructure investments by private sector on a commercial basis.”

     

    Africa President of the year 2020
    Start Voting for Africa President of the year 2020. Nomination Starts February 01 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 100 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com  .Africa President of the year will be announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com

     

    The Global International Company
    International Business Consultant Company, Specialize With Companies Want To Do Business or Doing Business In Africa & The United States. Contact:  info@theglobalinternational.com

     

    Invest in Modern Africa
    Africa the Fastest Growing Continent in the World. Six of the World’s Ten Fastest Growing Economies are in Africa. More than Half of Global Population Growth between now and 2050 is Expected to Occur in Africa. This Decade Belongs to Africa as Technology Ripples through the Continent. Africa the Untapped Market. Africa Great Continent to Invest & Grow Business. Africa the Last Frontier for Investment. Africa is the Future.

     

    Insurance Partners, LLC, A MBowe Group Company
    Travelling Overseas Need Medical Insurance. Global Medical Insurance! Travel Medical Insurance for Individuals, Families, and Groups! Good Plans for Students, Individuals, Groups and Governments. Contact: info@buyusinsurance.com, Visit: https://thembowegroupinc.business.site/

     

    www.newafricabusinessnews.com
    Africa’s Most Read and Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com

     

    For New Africa Business News Abdul Rahman Suagibu Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

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

     

    NEW AFRICA BUSINESS NEWS
    COMING SOON ADVERTISING OPPORTUNITY WITH AFRICA’S FASTEST GROWING GLOBAL ONLINE NEWSPAPER. THANK TO COMPANIES THAT WANT TO ADVERTISE.   INFO@NEWAFRICABUSINESSNEWS.COM

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

    Ghana’s GMO Court Case Adjourn

    Next Story

    United Bank for Africa to Approve African Currencies to its Twenty African Branches

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    $1.1 Billion Senegal's postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World

    Posted On 07 Feb 2023

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    Posted On 06 Feb 2023

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Posted On 03 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

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Facebook

    Latest Posts

    $1.1 Billion Senegal's postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Recent Posts

    • $1.1 Billion Senegal’s postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World
    • A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    • $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    • Nigeria Launches National Domestic Payments Card Program
    • In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States

    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.