Tag: African Development Bank
This year was poised to see major strides in access to finance for SMEs in Kenya. Promising initiatives such as the repeal of the interest rate cap, financing opportunities though the African Development Bank and the establishment of a credit guarantee scheme are just a few of the steps that were underway. But now that the Covid-19 pandemic has reshuffled priorities and budgets worldwide, where does that leave vulnerable Kenyan SMEs? SME Consultant, Victor Otieno joins CNBC Africa for more.
The World Bank will grant Zimbabwe $7m to help fight the economic damage caused by the Covid-19 pandemic.
The World Bank will grant $7 million to Zimbabwe to help it fight the new coronavirus outbreak that is expected to worsen an already struggling economy and food crisis, a bank spokesman said on Wednesday.
We are in a battle against time to curb the COVID-19 pandemic. While tackling the Coronavirus pandemic has grabbed global attention, a new crisis that could claim a lot more lives is brewing in Africa: massive locust invasions.
“The COVID-19 pandemic, one of the world’s most significant events, has resulted in cessation of economic activities that will lead to a significant decline in GDP, an unprecedented social disruption, and the loss of millions of jobs,” writes Banji Oyelaran-Oyeyinka.
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.
"Extraordinary times call for extraordinary measures. As such, it can no longer be business as usual".- Akinwumi Adesina, President of the African Development Bank
“Italy has given the rest of the world a tragic glimpse of what a lockdown needs to look, especially for countries that blink and fail to take action fast,” writes former Director of Communication and External Relations at the African Development Bank Group, Dr. Victor Oladokun.