In a bid to boost economic integration in West Africa, the African Development Bank recently approved $70 million for the Ebonyi ring road project. Ebrima Faal, Senior Director for Nigeria at AfDB joined CNBC Africa’s Esther Awoniyi to discuss this and more.
There are more than 600 Tech Innovation hubs across Africa. Africa’s digital revolution will emerge from them, especially in the sectors of e-commerce, distance learning for schools and universities to train better educated populations, and big opportunities in renewables and energy infrastructure to start plugging the continent’s electricity deficit.
African Development Bank
The strategy was grounded in the recognition that partnerships are central to its success. In collaboration with African countries, the Bank’s interventions have ranged from setting up the right enabling policy environment, supporting utilities, to increasing the number of bankable energy projects.
African Development Bank
“The stable outlook reflects our expectation that, over the next two years, AfDB will prudently manage its capital while maintaining solid levels of high-quality liquidity assets and robust funding,” S&P Global said in a statement.
Closing Bell West Africa
As Nigeria continues the grapple with the COVID-19 shock, Africa’s largest economy has received a new boost of $288.5 million from the African Development Bank to help reduce the impact of the pandemic on people and businesses. This comes as the bank recently concluded its country strategy paper for Nigeria for the next 4 years. Ebrima Faal, Senior Director of the Nigeria Country Department, of the African Development Bank joins CNBC Africa’s Kenneth Igbomor to share more details on the bank’s plan and strategy for Nigeria.
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