Malawi to Receive $45.07 Million for National COVID-19 Emergency Response from the African Development Bank

ABIDJAN/Ivory Coast:  Malawi will receive $45.07 million to finance the government’s response to the health, social and economic impacts of the COVID-19 pandemic, following a decision by the Board of Directors of the African Development Fund (ADF) held Wednesday. The package comprises a loan of $24.48 million, and a grant of $20.59 million as direct budget support, and complements an earlier sum of $8.9 million to six countries in the region, including Malawi, under the Bank’s COVID-19 Response grants to the Southern African Development Community (SADC) countries last month. The…

AFDB, UNHCR, UN Refuge Agency and G5 Sahel sign COVID-19 $20 Million Critical Response Agreement

ABIDJAN/Ivory Coast: Public health, the wellbeing of refugees and the host communities in the Sahel are at the heart of the latest tripartite agreement between the African Development Bank (AfDB) UNHCR, the UN Refugee Agency and the G5 Sahel signed today. The agreement enables a critical $20 million COVID-19 response across the five countries of the Sahel region. Financed by the African Development Fund, the project will allow the Governments of Burkina Faso, Chad, Mali, Mauritania and Niger – which make up the G5 Sahel regional cooperation and coordination framework…

AFAWA, ImpactHER, UN Women Policy Brief Disadvantages to Women Entrepreneurs in Post COVID-19

ABIDJAN/Ivory Coast:  Women-led businesses are more vulnerable to closure than those led by men in the era of the novel coronavirus, due to women’s limited access to finance, shifts in consumer behavior, and the increase in women’s household care responsibilities as a result of extended lockdowns. All across the continent, the coronavirus pandemic is wreaking economic havoc and hitting women the hardest, with women-led Small and Medium-sized Enterprises (SMEs) at greater risk of closure as they tend to be smaller and on average, operate in lower profit margin, service-based industries.…

Tribute: Prime Minister Amadou Gon Coulibaly

Akinwumi Adesina and Amadou Gon Coulibaly By Akinwumi Adesina July 8 was all like every normal day, focused on work. I had no inkling there would be a storm, even though we have weathered many storms and floods in Abidjan in recent times. Like a jolting bolt of thunder, everything changed when my wife, Grace, called my attention to a news item that the Prime Minister Amadou Gon Coulibaly had died. I told her this couldn’t be true as he just came back and as far as I knew he…

Sudan Gets $1.8 Billion Support From International Community

ABIDJAN/Ivory Coast:  Over $1.8 billion dollars in pledges for Sudan poured in during a high-level Sudan Partnership Conference held on Thursday, 25 June 2020, marking an important step in the African nation’s re-engagement with the international community. African Development Bank President, Akinwumi Adesina, and the World Bank and the International Monetary Fund chiefs attended the Conference, which was co-hosted by the Republic of the Sudan, the Federal Republic of Germany, the European Union and the United Nations, and held virtually in Berlin. Other participants included delegations from 50 countries and…

United State Health Officials Predicts Covid-19 Virus to Continue Into the Fall and Winter

President Donald Trump WASHINGTHON/United State of America: Anthony Fauci, the administration’s top infectious disease doctor, told a House panel on Tuesday that rising U.S. cases of COVID-19 are “disturbing” as new signs emerged of the United States falling further behind other countries in containing the novel coronavirus. The coronavirus is surging in more than half the country, and states like Florida, Texas and Arizona are setting records of new cases almost daily. Yet states are continuing to push forward with reopening businesses and lifting restrictions, and Fauci warned that without…

Digital Startups to Get Supports From French Development Agency

BAMAKO/Mali:  Suguba in partnership with Mercy Corps and the French Development Agency (AFD), is organising their second 6-month investment readiness program in West Africa to support the 8 most promising startups in the digital sector in Francophone West Africa. L’Afrique Excelle, the francophone adaptation of the World Bank’s XL Africa tech accelerator, was Suguba’s first acceleration program. The programme which took in 2018/2919 aimed to connect francophone startups across the continent with mentors and investors. Afrique Excelle had enabled 18 of the top 20 startups in French-speaking Sub-Saharan Africa to…

AFDB to Exclude Another Chinese Company, and A Subsidiary for Fraud for 20 Months

ABIDJAN/Ivory Coast:  Pursuant to a settlement agreement between the African Development Bank and Sieyuan Electric, the company will be debarred for 12 months. Jiangsu Rugao, a Sieyuan subsidiary, will be excluded from Bank-financed projects for 20 months. The African Development Bank Group (AfDB) on June 16, 2020, announced the conclusion of a negotiated settlement agreement with Sieyuan Electric Co. Ltd., a China-based contractor, thus resolving various sanctionable practices committed by the company. In 2015, Sieyuan participated in a tender for the upgrade and rehabilitation of two substations, a component of…

Cabo Verde: AfDB Group Approves 30 Million Euros Loan to Fight COVID-19

President Fosenca ABIDJAN/Ivory Coast: The Board of Directors of the African Development Bank has extended a loan of €30 million to Cabo Verde to help the West African island nation fight the COVID-19 outbreak and mitigate its economic impacts. The loan, approved on 26 May, will be used to fund the country’s health and social response, support macro-economic stability, and assist the private sector. As of 27 May, Cabo Verde had reported 390 infections, 155 recoveries and four deaths. Only one of the country’s 10 islands has been affected, namely…

Aliko Dangote Foundation Contributes N1.5 Billion to the Nigeria UN Covid-19 Basket Fund

Aliko Dangote ABUJA/Nigeria: The Aliko Dangote Foundation (ADF) has joined hands with the United Nations in Nigeria with a total sum of N1.5 Billion (equivalent to USD $3.8 million) contribution to the Nigeria UN COVID-19 Basket Fund. ADF collaboration with the UN will bolster the Nigerian Government’s efforts of strengthening the functional capacity of the healthcare systems and support to those affected by the coronavirus. The contribution from ADF, will go towards the procurement of the much-needed testing and medical supplies and equipment, to aid the healthcare response towards the…