The Economic Community of West African States (ECOWAS) Infrastructure Master Plan intends to significantly contribute to the satisfaction of the entire demand of the sub-region by optimally developing the available resources within the ECOWAS Member States.
On 17 June 2022, Ethiopia's Ministry of Finance announced that the World Bank had approved a large-scale grant for Phase 2 of Ethiopia’s Groundwater Resilience Project. The World Bank grant totals $210 million.
The International Monetary Fund (IMF) has approved the immediate release of approximately US$215.78 million (SDR 161.82 million) in financial assistance to Senegal. This financial assistance is provided to support the country’s economic recovery, in the wake of the COVID-19 pandemic.
Five regional economic communities in the Eastern and Southern Africa and Indian Ocean regions (EA-SA-IO) will benefit from the Enhancement of Governance and Enabling Environment in the ICT sector (EGEE-ICT) programme.
The Ugandan government has set out its 2022/2023 budget, outlining fiscal priorities for the coming year. Matia Kasaija (MP), Minister of Finance, Planning and Economic Development of the Republic of Uganda, delivered the FY 2022-2023 budget speech on 14 June 2022.
The African Development Bank (AfDB) Group has released its flagship African Economic Outlook report. The report focuses on reassessing the effects of the COVID-19 pandemic, and the war in Ukraine, on African economies, energy transition and climate change in Africa.
The African Development Bank (AfDB) has provided additional financing to Morocco. This additional funding has been prioritized and ringfenced for the projects related to the extension and modernization of the airport of Rabat-Salé and construction of the port of Nador West Med.
Ongoing infrastructure investments in Africa currently account for more than $1.15 trillion, according to the ABiQ intelligence platform. These ongoing infrastructure investments include:
A recent World Bank report has highlighted that global economic growth is slowing. This slump in global economic growth has been attributed to the COVID-19 pandemic, war in Ukraine, and the resulting effects on food, fertilizer, oil prices, and more.
A June 2022 African Development Bank (AfDB) press release has revealed that the African Fertilizer Financing Mechanism (AFFM) is providing a partial trade credit guarantee of $2 million to ETG Inputs Ghana Limited.
ABiQ provides a comparative overview of infrastructure investments in Nigeria and South Africa. Nigeria's ongoing or current investment in infrastructure is approximately $138,193 million.
Morocco, situated in North Africa, is abuzz as can be seen by the upcoming infrastructure investments. ABiQ analyzed business intelligence data and uncovered that energy and power projects dominate upcoming infrastructure investments across the country in 2022.
The African Development Bank is catching up with the World Bank Group in infrastructure financing in Ethiopia, according to data from ABiQ.
The 54th session of the annual Conference of African Ministers of Finance, Planning and Economic Development (CoM 2022) was held in Dakar, Senegal.
On May 18, 2022, the International Organization for Migration (IOM) and UNICEF signed a new Strategic Collaboration Framework (SCF) that aims to uphold and protect the rights of migrant children.
Egypt has more than $310 billion worth of “ongoing“ projects. Almost a third of the ongoing projects in Egypt are, at the least, halfway completed or more, according to ABiQ data.
The UAE construction industry accounts for 70% of all ongoing infrastructure projects listed in the ABiQ database, as of May 2022. The UAE construction industry is estimated to be worth $90 billion USD.
The ExxonMobil Foundation has renewed its funding for the Business Women Connect (BWC) programme in Mozambique. The Business Women Connect (BWC) programme focuses on business training and has, so far, helped more than 1,000 women in Mozambique enhance and upscale their entrepreneurial skills.
The great unbanked: Why investing in financial services in Africa will enable more than just financial empowerment
It is estimated that roughly 50 percent of the Sub-Saharan African population remains unbanked. Further, approximately 30 percent still lack a form of identification. Nearly 60 percent of the continent has no access to Internet connectivity, leaving many people without basic access to financial services.
Nigeria is Africa’s largest oil exporter and biggest economy. In 2021, Nigeria's GDP amounted to 441.5 billion U.S. dollars, the highest GDP in Africa. Nigeria is number 28 in the world in terms of GDP size, and yet the country has the highest number of people living in poverty.
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