By Kadiri Abdulrahman The Central Bank of Nigeria (CBN), has announced revocation of the licence of Heritage Bank Plc with immediate effect. This is according to a statement issued by Hakama Sidi-Ali, the Acting Director, Corporate Communications Department of CBN on Monday in Abuja. Sidi-Ali said that the action wasContinue Reading
By Lucy Ogalue The African Development Bank (AfDB) Group President, Dr Akinwumi Adesina, has reaffirmed the bank’s commitment to continue to deliver at scale to countries in the continent. Adesina said this at the sideline of an event to celebrate the bank’s 60th anniversary. The event was held on theContinue Reading
By Lucy Ogalue Africa needs to close a financing gap of about 402.2 billion dollars annually by 2030 to fast-track its structural transformation. Dr Akinwumi Adesina, President, African Development Bank (AfDB), said this during the presentation of the African Economic Outlook (AEO) 2024 at the ongoing AfDB Annual Meetings inContinue Reading
By Lucy Ogalue The African Development Bank (AFDB) has reiterated its commitment to promote mutual reliance on the continent in procurement diagnostic tools and social environment safeguards. The AfDB’s Senior Vice-President, Swazi Tshabalala, said this at the Annual Development Effectiveness Report held on the sidelines of the 2024 AfDB AnnualContinue Reading
By Lucy Ogalue Growth rate of Nigeria and other West African countries is projected to rise from an estimated 3.6 per cent in 2023 to 4.2 and 4.4 per cent in 2024/2025. The African Development Bank (AfDB) Vice-President and Chief Economist, Kevin Urama, said this at Thursday’s highlight of theContinue Reading
By Lucy Ogalue Some African leaders say the continent will benefit from increasing its alliance with Brazil, Russia, India, China, and South Africa (BRICS) group because of the many investment opportunities. They spoke during a BRICS Business Breakfast in Nairobi, Kenya, on the sidelines of the ongoing African Development BankContinue Reading
By Lucy Ogalue African Leaders have advocated for a reform of the financial architecture that integrates climate change and public finance to liberate Africa. They spoke on Wednesday at the official opening of the ongoing 2024 African Development Bank (AfDB) Group meetings in Nairobi, Kenya. The News Agency of NigeriaContinue Reading
By Lucy Ogalue Business Development experts have urged African nations to intensify efforts to attract private-sector financing to enhance tertiary education in order to equip the continent’s youth with competitive skills. The experts spoke at a panel discussion in Nairobi, Kenya, on the sidelines of the 2024 African Development BankContinue Reading
By Lucy Ogalue Dr Akinwunmi Adesina, Group President, African Development Bank (AfDB), says infrastructure development remain critical for the effective transformation of Africa. Adesina told newsmen on the sidelines of the ongoing AfDB Annual General Meeting 2024 on Tuesday in Nairobi that infrastructure were the backbone of Africa’s transformation. TheContinue Reading
By Lucy Ogalue Dr Akinwunmi Adesina, the Group President, African Development Bank (AfDB), said Africa is losing about seven to 15 billion dollars annually to the ravages of climate change. Adesina said this during a media conference in Nairobi on the sidelines of the ongoing AfDB Annual Meetings 2024. TheContinue Reading
