The African Development Bank’s (AfDB) board on Thursday said it stood by an internal investigation that had cleared its president of improper conduct, but it would carry out an independent review of the report in the interest of due process.
Replying to an article recently published in the French newspaper, “Le Mond”, President of the African Development Bank, Akinwumi Adesina, has denied allegations questioning the transparency and governance systems of the bank.
The Vice President for Finance and Chief Financial Officer of African Development Bank (AfDB), Swazi Tshabalala says the 125 per cent capital increase by its shareholders will empower the AfDB with a direct lending capacity of 100 billion dollars in the next 10 years. She joins CNBC Africa’s Kenneth Igbomor to discuss this on the side-lines of an extraordinary shareholders’ meeting in Abidjan.
The African Development Bank launched its African Economic Outlook for 2019 in Abidjan, and it estimates that average real GDP growth for the continent is expected at 4 per cent this year. The AfDB also stated that growth on the continent was 3.5 per cent in 2018 and is projected to reach 4.1 by 2020. Andrew Nevin, Partner and Chief Economist at PWC Nigeria joins CNBC Africa to share his thoughts on the AFDB’s projections.
The Nigerian Ports Authority scored a mixed performance in its first quarter report as there was a 2.3 per cent decline in number of vessels which arrived at the port. Obiora Madu, Chief Executive Officer of Multimix group joins CNBC Africa to discuss the key drivers of this performance.
Nigeria's Former President Olusegun Obasanjo says the Intra-African Trade Fair will really help propel and drive trade within the African continent. CNBC Africa's Kenneth Igbomor caught up with him at Afreximbank's Intra-African Trade Fair engagement session in Abidjan, where he discussed expectations for the upcoming trade fair in Egypt.
African Development Bank's economic outlook shows decline in regional economies.