Latest news with #AfricanDevelopmentBank
Zawya
4 minutes ago
- Business
- Zawya
Mauritius: African Development Bank Urges Bold Reforms to Unlock Capital and Accelerate Sustainable Growth in 2025 Report
The African Development Bank ( has urged Mauritius to accelerate structural reforms to unlock its vast capital potential and advance long-term, sustainable growth. The Bank made the call during the launch of its 2025 Country Focus Report for Mauritius, titled ' Making Mauritius' Capital Work Better for its Development.' The report notes that while Mauritius continues to post strong economic performance—recording real GDP growth of 4.9% in 2024, slightly down from 5% in 2023—structural constraints and external shocks continue to undermine the country's growth trajectory. Key growth drivers in 2024 included construction, financial services, trade, and tourism, with arrivals reaching 1.38 million, representing 97% of pre-pandemic levels. On the demand side, consumption and investment were the primary drivers of growth. Despite the persistent challenges, the report underscores Mauritius' significant untapped potential. In 2020, the island nation's total national wealth was estimated at over $96 billion—more than six times its GDP—comprising human, financial, natural, and produced capital. In addition, Mauritius' vast ocean economy resources, within its 2.3 million km² Exclusive Economic Zone, offer immense opportunities for developing a sustainable blue economy. Speaking at the launch event, Mahess Rawoteea, Deputy Financial Secretary at the Ministry of Finance, welcomed the recommendations in the report. 'We are confident that the structural reforms outlined in the 2025–2026 Budget Speech will unlock significant investments, particularly in renewable energy, and contribute to higher GDP growth,' he said. Rawoteea emphasized the central role of human capital in Mauritius' development, while acknowledging persistent challenges such as education quality, skills mismatches, low female labor participation, demographic shifts, and youth emigration. He announced the establishment of a Climate Finance Unit within the Ministry of Finance to help bridge the country's climate financing gap. 'Mauritius is undertaking institutional reforms to better mobilize domestic and foreign capital and promote sustainable development,' he added. 'We are streamlining processes, enhancing transparency, and improving the ease of doing business. Environmental protection, including addressing beach erosion, is also a key priority.' Rawoteea expressed appreciation for the African Development Bank's support, particularly in mobilizing investments in renewable energy and the ocean economy—two sectors identified as future growth pillars. In his keynote remarks, Prof. Kevin Urama, the Bank Group's Chief Economist and Vice President for Economic Governance and Knowledge Management, emphasized Africa's broader potential for transformation. 'If Africa commits to investing in its own development and managing its assets efficiently, it can reduce external dependency and harness its enormous capital for transformative growth,' he said. Urama cited weak tax administration and inefficiencies in revenue collection as major constraints to development, urging a fundamental rethink of public financial management across the continent. Wolassa Kumo, the Bank's Principal Country Economist for Mauritius presented an overview of the report. The launch event attracted senior government officials, development partners, private sector leaders, and civil society representatives. Among those in attendance were Hervé Lohoues, the Bank's Division Manager for the Country Economics Department covering Nigeria, East Africa and Southern Africa, and Nontle Kabanyane, the Bank's Principal Country Programme Officer, who moderated a panel discussion. The panel explored strategies for mobilizing domestic capital more effectively by strengthening institutions, improving regulatory frameworks, increasing transparency and accountability, and deepening regional trade integration. Panelists included: Dr. Zyaad Boodoo, Ministry of Environment, Solid Waste Management and Climate Change (natural capital), Mauritius? Mr. Sanjev Bhonoo, Principal Statistician, Statistics Mauritius (natural capital) Mr. Ricaud M. Auckbur, Chief Technical Officer, Ministry of Education and Human Resources (human capital), Mauritius? Ms. Zaahira Ebramjee, Head of National Economic Collaboration, Business Mauritius (business capital) Mr. Vikram Ramful, Head of Listing, Stock Exchange of Mauritius (financial capital) Click here ( to download the report. Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group is Africa's leading development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). Represented in 41 African countries, with an external office in Japan, the Bank contributes to the economic development and social progress of its 54 regional member countries. For more information:
Morocco World
7 minutes ago
- Business
- Morocco World
Safran, EIB, AfDB, and More Are Keen to Strengthen Relations, Cooperation with Morocco
Rabat – High-level international officials have commended Morocco's development momentum and progress spanning several sectors in a series of recent remarks. Vice President of the French National Assembly Naima Moutchou joined the growing list of officials who emphasized Morocco's development and reform across various sectors, including infrastructure. 'Morocco is, by unanimous opinion, seen as a pillar and a point of reference in a very troubled world,' she said, noting that it is 'quite fascinating' to see the country taking bold reforms across different sectors. Moutchou made her remarks a few weeks before Throne Day, which the North African country will celebrate on July 30. 'Throne Day is not only an institutional occasion but also a moment of pride for Moroccans to see their country advancing in stability and prosperity,' she said, noting that it is clear France and Morocco are entering an unprecedented phase in their relations. Akinwumi Adesina, President of the African Development Bank (AfDB), echoed the same sentiment, noting that King Mohamed VI's 'imprint is evident through a vision backed by action to achieve set objectives.' Adesina cited the large-scale projects and initiatives, showing Morocco not only as a modernized country but also among Africa's most stable economies. 'Morocco's transformation is built on deep structural reforms,' he said, noting that the country combined long-term public policies with large-scale investment. The European Investment Bank (EIB) President Nadia Calvino shared the same remarks, noting that the bank fully supports King Mohammed VI's vision for the development of more resilient and more sustainable infrastructure in Morocco. 'The EIB supports Morocco's ambition for greener and more resilient infrastructure, particularly through projects in renewable energy,' she said, citing an integrated wind program like the upcoming Noor Midelt solar complex. EIB has supported Morocco's development through nearly 150 operations since 1979, totalling more than € 10.6 billion, she said. Ross Mclnnes, Chairman of the Board of Safran Group, echoed similar remarks, highlighting Morocco's industrial development under King Mohammed VI's leadership. He said Morocco's development has 'real expertise' in key sectors, including aerospace, automotive, and renewable energy. The Safran executive notably commended the skill level of Morocco's workforce, emphasizing the importance of partnership between Morocco and the aerospace company. 'Today, we have more than 5,000 employees in Morocco across over eight sites and we hope to continue in this direction, as Morocco is one of our two or three most important countries outside France,' he said, recalling the country's 2030 World Cup project. 'I believe it will be a great showcase for Morocco as an African and Euro-Mediterranean hub, especially since the country's reach into Africa is one of its major attractions for investors like us- and for the country itself in its deserved international status.' Tags: aerospace in Moroccoafrica economy
Zawya
2 hours ago
- Business
- Zawya
African Development Bank approves financing to advance Rwanda's universal energy access
The Board of Directors of the African Development Bank Group ( has approved €173.84 million for the Rwanda Energy Sector Result-Based Financing (RBF II) program to modernize the electricity network, expand access to clean energy, and strengthen institutional capacity. The Asian Infrastructure Investment Bank will provide an additional €86.92 million, bringing the total program cost to €260.76 million. The Board approval on July 14 marks the African Development Bank's second result-based energy sector operation in Rwanda, following a $305 million program approved in September 2018. This indicates Rwanda's preference for a performance-based financing approach in closing power infrastructure gaps. The RBF II program is anchored on Rwanda's Energy Sector Strategic Plan (ESSP II 2024–2029) and aims to improve the quality of life of residents, drive economic growth, and reduce poverty through targeted investments in the energy sector. Specifically, the program is focused on delivering results in 3 areas: modernizing and extending the electricity network and systems; increasing access to on-grid and off-grid electricity and clean cooking technologies; and strengthening technical and institutional capacity. It will connect 200,000 households and 850 productive use customers to the national grid, add 50,000 new electricity connections through off-grid solutions, provide clean cooking devices to 100,000 households and 310 public institutions, and install street lighting on 200 km of roads in secondary cities across Rwanda. The RBF II program is a key deliverable under the Bank's High-5 priority areas of 'Light up and Power Africa' and 'Improve the Quality of Life of the People of Africa.' Additionally, it will contribute to delivering on the Mission 300 Initiative of the African Development Bank and the World Bank to connect 300 million Africans to electricity by 2030. Contact: Communication and External Relations Department media@ About the African Development Bank Group: The African Development Bank Group (AfDB) is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information:
Zawya
a day ago
- General
- Zawya
From Mine Shafts to Classrooms: How a Cobalt Mining Town is Reclaiming Childhood and Rebuilding Hope
Thirteen-year-old Beni Cial Yumba Musoya used to spend her days scavenging for cobalt under the scorching sun in the artisanal mines of Kolwezi. Today, she dreams of donning a white coat and saving lives. "I want to be a doctor," she says, smiling shyly from her wooden desk at Kasanda Primary School in Kasulo, a neighbourhood nestled in Congo's mining heartland of south-eastern Democratic Republic of Congo. "I will build schools and health centres to help people, just as I was helped before," she continues. Beni is one of thousands of Congolese children whose lives have been transformed by the Support Project for Alternative Welfare of Children and Young People Involved in the Cobalt Supply Chain (PABEA-COBALT) ( a bold $82 million initiative funded by the African Development Bank. The project aims to eliminate child labour in the cobalt sector – an industry vital to the global tech economy, yet plagued by poverty, informally and exploitation. The atmosphere here has changed dramatically. Just a few years ago, the soundscape of Kasulo was dominated by the roar of rudimentary mining machinery and the shuffle of children burdened by sacks of ore. Today, those echoes have been replaced by the buzz of classrooms, the chatter of pupils at recess, and the laughter of children rediscovering play and learning. In early 2022, PABEA-COBALT identified more than 16,800 Congolese children working in artisanal cobalt mines in the provinces of Haut-Katanga and Lualaba. Since then, 13,587 of them - including Beni – have been enrolled in schools. Many attend newly constructed or rehabilitated facilities like Kasanda Primary School, where education, healthcare, psychological support and civil registry services are provided at no cost. 'Before, I used to collect minerals in artisanal mines. That was all I knew,' recalls Beni, her expression briefly clouded by painful memories. A few steps away, Marie Samba tends to her hens and quails, her hand dusted with feed rather than cobalt residue. A former mine worker, Marie once spent her days sorting and washing cobalt to survive. Today, she's a trained poultry farmer. "I used to collect and wash minerals to sell them," she sighs. Marie is one of over 10,500 parents and guardians supported by the project – well above the initial target of 6,250. They have received training in agriculture and livestock farming, as well as materials to start-up kits to launch small businesses. Additionally, 8,200 young people formerly working in the mines are being supported to integrate into school, vocational training, or income-generating activities. "We have been educated and trained in livestock farming and agriculture. We have also been given supplies to start our activities. I didn't think I could change my life like this," says Marie Samba, who is delighted with the excellent results she is achieving with her poultry farm PABEA-COBALT has also helped establish two entrepreneurship centres in Haut-Katanga and Lualaba, equipped with modern equipment for agriculture, livestock farming and food processing. These centres serve as anchors for change, empowering young people and parents to build livelihoods away from the mines. 'One of the project's greatest successes is that it has anchored change from within the communities,' says project coordinator Alice Mirimo Kabetsi. 'Solutions don't just come from outside: they are now driven by parents, teachers and young people themselves. This model proves that by focusing on education and local entrepreneurship, we can break the cycle of child labour in the mines for good," she said. Across the region, this shift is tangible. Nearly 1,000 agricultural cooperatives have been reorganized, strengthening local agricultural and livestock value chains and offering new economic opportunities. The transformation has drawn international attention. A recent report from the DRC's National Human Rights Commission titled Child labour in artisanal cobalt mining sites ( produced in collaboration with the UN Human Rights Council, commended the project's 'tangible results' and urged replication in other mining-affected region across the Great Lakes. Back in Kasulo, children like Beni are rediscovering their childhood dreams and the power of innocence. Mothers like Marie are holding their heads high, proud to be building a future free from the cobalt mines. For partners such as the African Development Bank, this project has not only changed lives. It has paved the way for a whole generation growing up far from the mines and building, day after day, a stronger, fairer and resolutely forward-looking society. Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:
Zawya
a day ago
- Politics
- Zawya
Improving climate governance in West Africa: Three calls for inclusive climate action in Burkina Faso, Côte d'Ivoire, and Senegal
Climate change is a growing threat across Africa, with West Africa feeling its effects especially intensely. According to the ND-GAIN index, Burkina Faso (162nd out of 182), Senegal (144th), and Côte d'Ivoire (134th) rank among the most vulnerable countries. They face a dangerous mix of low capacity to adapt and high exposure to climate hazards. This vulnerability shows up in more extreme weather, worsening food insecurity, and growing precarity—particularly harming women and young people. To tackle this urgent challenge, the Union of Economic and Social Councils and Similar Institutions of Africa (UCESA), supported by the African Development Bank, has developed three national advocacy papers. These papers promote participatory climate governance that reflects citizens' real needs. They also aim to strengthen the role of Economic and Social Councils in shaping national climate policies. 'These advocacy plans put citizens back at the centre of climate action,' said Arona Soumare, Principal Climate Change and Green Growth Officer at the African Development Bank. 'By giving them full backing, the African Development Bank is reiterating its commitment to inclusive, equitable climate governance rooted in local realities. These initiatives lay the foundations for sustainable and resilient development in Africa.' According to Abdelkader Amara, current head of UCESA and President of the Economic, Social and Environmental Council (CESE) of Morocco, 'UCESA is aware of these challenges and consequently intends to promote and support actions taken by African Economic and Social Councils and similar institutions that help to integrate sustainability and resilience into the frameworks for defining, implementing, and evaluating relevant institutional and policy mechanisms.' Burkina Faso: Building resilience in a Sahelian setting Located in the middle of the Sahel belt, Burkina Faso is one of the countries that is most vulnerable to climate change. This fragility is exacerbated by a limited ability to adapt, which is particularly pronounced among women and young people. The advocacy effort developed by the Economic and Social Council of Burkina Faso, aided by technical support from UCESA, reflects citizens' perceptions of the real effects of climate change. It proposes responses rooted in local realities, with a view to steering public policies towards a more inclusive, participatory and community resilience-oriented approach. Côte d'Ivoire: Towards citizen-centred climate governance Côte d'Ivoire lies in a region highly vulnerable to climate shocks. This vulnerability is compounded by the limited involvement of women, especially in rural areas, and the still marginal role of civil society. The national advocacy paper, developed through extensive consultation, captures citizens' expectations and offers clear recommendations for more equitable climate governance. It underscores the importance of fully including people's voices in decision-making processes—an essential element for effective climate action. Senegal: Citizen participation and climate resilience Senegal, a country in the Sahel-Sudan region, is already bearing the brunt of climate change. The national advocacy campaign draws on a citizen perception survey to inform a participatory discussion on future policy directions. Led by Senegal's Economic, Social and Environmental Council, in partnership with UCESA and the African Development Bank, the resulting document calls for a unified effort from civil society, researchers, NGOs, and policymakers to create climate strategies that are inclusive, locally grounded, and capable of sustainably strengthening national resilience. A regional dynamic These three advocacy papers are part of a regional dynamic propelled by UCESA, with the support of the African Development Bank. They demonstrate a shared commitment to rooting climate action in citizen participation, stakeholder synergy, and regional solidarity. Through this initiative, the Economic and Social Councils are re-asserting their role as a strategic interface between civil society and public authorities in responding to the continent's climate challenges. Distributed by APO Group on behalf of African Development Bank Group (AfDB).
