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<p>We bring you highlights from the prestigious Obafemi Awolowo Prize for Leadership Award and keynote lecture featuring the 2024 award recipient African Development Bank Group President Dr Akinwunmi Adesina. The award promotes the legacy and democratic ideals of the late Nigerian nationalist and federalist leader Chief Obafemi Awolowo and recognizes and celebrates excellence in leadership.</p>


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Focus On: Obafemi Awolowo Prize for Leadership Award and Keynote Lecture

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<p>A panel of experts examine key transformative initiatives for Africa, the role that education, science, technology and innovation will play in them to heighten their impact and highlight the key challenges faced in being able to scale them up for the impact needed including crowding in finance and the investment needed.</p>


Africa Business Forum 2024: Scaling-up transformative initiatives for developmental impact

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<p>The African Development Bank graduate of the first cohort of government officials from its Public Finance Management Academy, under the theme Enhancing Accountability, Transparency, and Curbing Corruption and Illicit Financial Flows in Africa, took place in Abuja. The closing ceremony brings key voices from this graduation as the first step to fight illicit financial flows in Africa&#8217;s public finances.</p>


Public Finance Management Academy for Africa: First Cohort of Trainees Graduation

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<p>At the 2023 Africa Investment Forum Market days in Marrakech, participants explored ways to unlock Africa’s value chains. Join CNBC Africa on the side-lines to get some exciting insight from the founding partners and other key players working to close high-impact deals at the boardrooms of the Africa Investment Forum.</p>


2023 Africa Investment Forum Market Days: Highlights Special

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<p>Egypt played host to the 3rd edition of the 2023 Intra Africa Trade Fair where trade and investment deals worth about $43.7 billion were sealed, an amount slightly higher than initial projections. Over 1900 exhibitors from 130 countries were in attendance at the trade fair in Cairo. You can watch the highlights of the 2023 Intra Africa Trade Fair on CNBC Africa.</p>


Highlights Special of the 2023 Intra Africa Trade Fair

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<p>In 72 hours, the Africa investment Forum’s 2023 Market days in Marrakech, Morocco generated $34.8 billion in investment interest for projects covering Infrastructure, health, agriculture, the creative industry and other key sectors. The theme this year focuses on unlocking Africa’s value chains. Catch the highlights of the 2023 Market days of the Africa Investment Forum on CNBC Africa.</p>


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<p>The African Economic Summit 2023 brought together leaders from across disciplines to discuss the Imperatives for Sustainable Industrial Development in Africa. These are the closing remarks at the end of three days of in-depth deliberation.</p>


African Economic Conference 2023: Closing Session

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<p>This panel discussion from the African Economic Conference 2023 held in Ethiopia, explores the role of Special Economic Zones in promoting sustainable development in Africa.</p>


African Economic Conference 2023: Role of SEZs in Africa’s economic development


<p>JOHANNESBURG, May 25 (Reuters)&nbsp;&#8211;&nbsp;Africa risks sliding into stagflation &#8211; a cycle of slow growth and high inflation &#8211; as it battles the lingering effects of the pandemic and rising fuel and food prices caused by the Ukraine conflict, the African Development Bank (AfDB) said on Wednesday.</p>



<p>Despite experiencing relatively low death rates compared to more developed regions, Africa was dealt a heavy economic blow by the COVID-19 pandemic.</p>



<p>While 2021 saw a continent-wide rebound, with gross domestic product (GDP) growth estimated at 6.9% after a pandemic-induced contraction of 1.6% the previous year, the Bank projects real GDP growth to slow to 4.1% this year.</p>



<p>&#8220;The deceleration in growth highlights the severity of the impact of the Russia–Ukraine conflict on Africa&#8217;s economy,&#8221; the AfDB wrote in its 2022 African Economic Outlook.</p>



<p>&#8220;If the conflict persists, Africa&#8217;s growth is likely to stagnate at around 4 percent in 2023.&#8221;</p>



<p>Inflation is meanwhile expected to accelerate to 13.5% this year, from 13% in 2021, due to a sharp rise in energy and food prices linked to the war in Ukraine.</p>



<p>The AfDB estimates around 30 million Africans were pushed into extreme poverty and 22 million lost their jobs last year alone as a result of the pandemic.</p>



<p>Vulnerable populations, particularly in urban areas, will bear the brunt of rising prices, the report said, adding that economic disruptions stemming from the war could tip nearly 4 million more into extreme poverty this year and next.</p>



<p>&#8220;In the absence of measures to cushion the impact, this could stoke social tension across the continent,&#8221; the report stated. &#8220;But in many African countries, fiscal space remains constrained by the effects of the pandemic.&#8221;</p>



<p>The AfDB forecasts Africa&#8217;s debt-to-GDP ratio to stabilise at around 70%, down slightly from 71.4% in 2020, due to last year&#8217;s growth recovery and debt relief measures, but will remain above pre-pandemic levels.</p>



<p>(Reporting by Joe Bavier, Editing by Louise Heavens)</p>


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Africa risks stagflation due to pandemic, Ukraine war – AfDB￼

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<p>The Director for Agriculture and Agro-Industry at the African Development Bank, Martin Fregene, says the importance of an accessible financing facility for African countries will go a long way to provide crop varieties that are tolerant to drought and boost resilience of the agriculture value chains against future shocks like Covid-19. He joined me earlier to share his thoughts.</p>


Africa’s agriculture value chain needs to be rebuilt

Africa’s agriculture value chain needs to be rebuilt, says AfDB’s Martin Fregene

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<p>The African Development Bank’s Vice President for Corporate Services and Human Resources Mateus Magala says the agreement for the 400 million euro Lusophone Compact Guarantee Programme will be reached in September this year. He joins CNBC Africa’s Kenneth Igbomor for more insight on this initiative and more.</p>


AfDB: €400mn Lusophone Compact agreements expected in September

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<p>Despite a very challenging year in 2020, the African Development Bank says it posted strong financials with its net income growing by as much as 57 per cent from 2019. Speaking with CNBC Africa’s Kenneth Igbomor, the bank’s Vice President for finance and acting Senior Vice President, Bajabulile Swazi Tshabalala says despite the downgrades witnessed by countries in the region due to the adverse impact of the COVID-19 pandemic, the bank maintained a strong financial performance amid the exposures.</p>


AfDB’s Tshabalala on how to address Africa’s development needs

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<p>As we re-imagine a post-Covid-19 world, women should be at the center of solutions as key drivers for economic resilience in Africa. That’s according to Atsuko Toda, Director of Agriculural Finance and Rural Development at the African Development Bank. Atsuko Toda also told CNBC Africa’s Kenneth Igbomor that the AfDB believes prioritising agro-industrialisation is critical.</p>


COVID-19: AfDB’s Toda on why women should be prioritised in Africa’s recovery

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<p>One of the pervasive issues that can make the impact of Covid-19 last longer in Africa is the rising debt burden that has been created by the need to respond to the pandemic. That’s according to Kevin Urama, the Senior Director for African Development Institute at the African Development Bank. Urama also told CNBC Africa’s Kenneth Igbomor that the faster pace of recovery in major economies from where Africa borrows has implications for the continent.</p>


AfDB’s Urama on how to make debt work for Africa

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<p>Economic integration creates wealth and limits dependence on imports, it also makes sure that Africa begins to address things like food self-sufficiency. That’s according to Khaled Sherif, the Vice President for Regional Development, Integration and Business at the African Development Bank. While speaking to CNBC Africa&#8217;s Kenneth Igbomor, Khaled said the Annual Meetings of the AfDB will focus on making sure member countries can build back post-Covid-19, and in a way that the nations can recover from the effect of deteriorating commodity prices.</p>


AfDB’s VP Sherif: Economic integration limits dependency on imports

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<p>Ahead of the African Development Bank’s 56th annual meetings, Secretary General, Vincent Nmehielle told CNBC Africa that the virtual meeting will feature a high-level dialogue on Africa’s growth and debt, the adoption of AfDB’s financial statement and an engagement with management of the AfDB on its direction in the next financial year.</p>


Here’s what to expect from the AfDB’s 56th annual meetings

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<p>France has announced cancellation of $5 billion debt owed by Sudan and pledged a $1.5 billion bridge loan to help the country pay its arrears to the International Monetary Fund. Other countries and organisations such as the African Development Bank have done the same. Ahmed Soliman, Research Fellow at Chatham House spoke to CNBC Africa’s Julius Bizimungu for more.</p>


African Development Bank

Focus On: Obafemi Awolowo Prize for Leadership Award and Keynote Lecture

Africa Business Forum 2024: Scaling-up transformative initiatives for developmental impact

Public Finance Management Academy for Africa: First Cohort of Trainees Graduation

2023 Africa Investment Forum Market Days: Highlights Special

Highlights Special of the 2023 Intra Africa Trade Fair

2023 Africa Investment Forum Market Days: Highlights Special

African Economic Conference 2023: Closing Session

African Economic Conference 2023: Role of SEZs in Africa’s economic development

Africa risks stagflation due to pandemic, Ukraine war – AfDB

Africa’s agriculture value chain needs to be rebuilt, says AfDB’s Martin Fregene

AfDB: €400mn Lusophone Compact agreements expected in September

AfDB’s Tshabalala on how to address Africa’s development needs

COVID-19: AfDB’s Toda on why women should be prioritised in Africa’s recovery

AfDB’s Urama on how to make debt work for Africa

AfDB’s VP Sherif: Economic integration limits dependency on imports

Here’s what to expect from the AfDB’s 56th annual meetings

Sudan’s debt cancelled by France, AfDB & others

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African Development Bank

Focus On: Obafemi Awolowo Prize for Leadership Award and Keynote Lecture

Africa Business Forum 2024: Scaling-up transformative initiatives for developmental impact

Public Finance Management Academy for Africa: First Cohort of Trainees Graduation

2023 Africa Investment Forum Market Days: Highlights Special

Highlights Special of the 2023 Intra Africa Trade Fair

2023 Africa Investment Forum Market Days: Highlights Special

African Economic Conference 2023: Closing Session

African Economic Conference 2023: Role of SEZs in Africa’s economic development

Africa risks stagflation due to pandemic, Ukraine war – AfDB￼

Africa’s agriculture value chain needs to be rebuilt, says AfDB’s Martin Fregene

AfDB: €400mn Lusophone Compact agreements expected in September

AfDB’s Tshabalala on how to address Africa’s development needs

COVID-19: AfDB’s Toda on why women should be prioritised in Africa’s recovery

AfDB’s Urama on how to make debt work for Africa

AfDB’s VP Sherif: Economic integration limits dependency on imports

Here’s what to expect from the AfDB’s 56th annual meetings

Sudan’s debt cancelled by France, AfDB & others

News Tips

Advertise With Us

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Africa risks stagflation due to pandemic, Ukraine war – AfDB