RMB has released its highly anticipated 2024 Where to Invest in Africa report, offering a comprehensive analysis of the continent’s prime investment destinations. Developed in collaboration with the Gordon Institute of Business Science (GIBS), the report uses updated data sources and methodologies to evaluate a country’s progress and investment potential. ‘Africa is not a country, but a … Read more
Ethiopia House of Peoples’ Representatives (HoPR), the lower chamber of parliament, approved $1.5bn in financial agreements with the World Bank’s International Development Association (IDA) on Wednesday. These agreements are set to bolster the country’s economic reform efforts. The financial package includes a $1bn grant and a $500 million concessional loan, designed to support Ethiopia’s … Read more
THE World Bank announced on Friday a significant commitment of $100 million to accelerate Zambia’s digital infrastructure and expand internet access. This investment will be channelled through the Digital Zambia Acceleration Project, funded by the International Development Association. Zhang Wencai, Managing Director and World Bank Group Chief Administrative Officer, made the pledge during a meeting … Read more
THE World Bank has expressed readiness to spend 10 million dollars for Nigerian youths to acquire the critical skills needed for employment. Dr Mistura Rufai, the World Bank Education Specialist, was speaking at a two-day Innovation Grant Facilities (IGF) Memorandum of Understanding (MoU)/Contract Signing and Implementation Workshop in Abuja on Monday. The News Agency of … Read more
By Inusa Ndahi, Maiduguri A high-level delegation from the Rural Electrification Agency (REA) and the World Bank Mission at the week end paid a courtesy visit to Governor Babagana Zulum on the move to enhance renewable energy. Zulum who was represented by the Acting Governor, Umar Kadafur was briefed on the benefits of the Energizing … Read more
THE World Bank has sanctioned a $208 million grant to assist Zambia in alleviating the severe social and economic repercussions of a prolonged drought that has gripped the southern African nation. This announcement was made by Zambia’s finance ministry on Tuesday. Southern Africa is facing its most severe drought in years, a situation exacerbated by … Read more
THE World Bank Group has approved a financial package of $260 million to aid Ghana in improving electricity distribution and expanding access to clean cooking energy, according to a statement issued on Thursday. This funding comprised a $250 million loan and a $10 million grant. This support will bolster Ghana’s Energy Sector Recovery Programme (ESRP), … Read more
IN a significant step towards advancing its renewable energy agenda, Namibia has secured a $138.5 million loan from the World Bank. The funding aims to enhance the country’s transmission network and facilitate the integration of renewable energy projects into its grid, announced the World Bank on Tuesday. ‘Namibia is a uniquely positioned regional leader in … Read more
IN a significant move, the World Bank has decided to suspend funding for a $150 million tourism project in Tanzania after reports surfaced detailing the suffering of local villagers due to severe rights abuses. The decision comes following persistent advocacy by the Oakland Institute, a California-based rights group, urging the global lender to take action against … Read more
ActionAid has said the time is up for the International Monetary Fund (IMF) and the World Bank to stop perpetuating a colonial rule on the world. The call was made at the weekend as the two global financial institutions conclude their Spring meetings in Washington DC this week. ActionAid, in the statement said for the … Read more