Latest news with #ArabBankforEconomicDevelopmentinAfrica
France 24
29-05-2025
- Business
- France 24
Sidi Ould Tah: Africa's new 'super banker'
The 60-year-old economist was the last to declare his candidacy for the post and ran a whirlwind campaign during which he highlighted his 10 years as head of the Arab Bank for Economic Development in Africa (BADEA). He claimed to have transformed it from an institution "unknown to rating agencies" to one of the highest-rated development organisations in Africa. "I have demonstrated my transformative leadership style that has elevated the bank to the level of a leading player in the African development landscape," he said in his application statement to the AfDB. A discreet man who speaks sparingly, his style will be a clear contrast with his flamboyant predecessor, Nigeria's Akinwumi Adesina. Tah's programme is based on four main points: strengthening regional financial institutions; asserting Africa's financial independence in global markets; leveraging demographic dynamics as a development tool; and building resilient infrastructure to climate change. His entourage is touting his ability to replicate his successes at the BADEA at a larger institution like the AfDB, which has $318 billion in capital. "The AfDB has to abandon traditional bureaucratic models for a more fluid approach based on results," he said. African legitimacy Tah, who was Mauritania's economy minister from 2008 to 2015, is calling for a "break with the approaches of the past", in a world where the "challenges and opportunities of Africa have taken a new dimension". The new AfDB president speaks French, English, Arabic and Wolof, which is spoken in several west African countries. He managed the impressive feat of rallying diplomatically diverse supporters behind his candidacy, from Sahel countries such as Mali to France. His score of more than 72 percent among African voters gives him continental legitimacy. His entourage claimed before the vote he had support from the very first round from all African regions. US President Donald Trump's administration has vowed to suspend $500 million in aid to the AfDB, but Tah has argued other financial backers such as Gulf countries could step in. On environmental questions, he intends to promote Africa's natural resources to move towards a "viable energy transition, reconciling economic and environmental imperatives". "Even though Africa is a minimal contributor to global CO2 emissions, it bears the full brunt of the effects of climate change," he said. "It is therefore imperative to integrate sustainable practices and to harness renewable energy in development projects." Tah holds a master's degree in economics from the University of Nouakchott in his native Mauritania and a doctorate from the University of Nice in France.
Bloomberg
02-05-2025
- Business
- Bloomberg
AfDB President Candidate Advocates Tapping Middle East Finance
The African Development Bank should do more to tap finance from oil-rich Middle Eastern nations and access the money held by pension funds on the continent as development needs grow, a contender for the institution's presidency said. Africa's biggest multilateral development bank currently lends out about $10 billion a year when the continent's needs exceed $100 billion, said Mauritania's Sidi Ould Tah, who recently stepped down as the president of the Arab Bank for Economic Development in Africa.
Zawya
03-04-2025
- Business
- Zawya
Djibouti to gather leaders in finance and industry to accelerate investments across Africa in a new global order
DJIBOUTI City, Djibouti -/African Media Agency(AMA)/- The second edition of the Djibouti Forum will bring together important leaders in finance and business from over 50 countries to help kickstart a new era for investment in a fast moving and changing global order. Hosted by the Fonds Souverain de Djibouti (Sovereign Wealth Fund of Djibouti), this exclusive gathering has been designed to catalyse investments across Africa while highlighting the Horn of Africa's crucial role as a driver of regional growth and development. This two-day Forum will discuss how future economic megatrends will impact the continent as well as bringing together leaders from several development banks to discuss the increasingly important role of African multilateral development banks and how to leverage their balance sheets to drive greater growth. 'The objective of the Djibouti Forum is to connect Africa's financial and business community and guide it in seizing the continent's unique and growing commercial and investment opportunities' stated Dr. Slim Feriani, CEO of the Sovereign Wealth Fund of Djibouti. 'Djibouti being at the intersection of Asia, Africa, the Middle East, and Europe, is the right strategic partner to facilitate partnerships for our region's growth and development.' Through the visionary leadership of Djibouti's President, the Forum serves as a dynamic platform for a broad dialogue to help leaders address key shifts that will impact investment flows. The event is set to host financiers managing over $2 trillion in assets under management, with strong participation from sovereign wealth funds, institutional investors, and leading development finance institutions, including the Arab Bank for Economic Development in Africa (BADEA), the African Development Bank, the International Finance Corporation, the African Finance Corporation, the Trade and Development Bank, and Afreximbank. The Forum expects 50 speakers and 400 international and regional high-level delegates to drive impactful discussions and meaningful collaborations. Distinguished speakers include Sidi Ould Tah, President, Arab Bank for Economic Development in Africa (BADEA), Solomon Quaynor, Vice-President for Private Sector, Infrastructure and Industrialization, AfDB, Admassu Tadesse, President and Managing Director, Trade and Development Bank Group (TDB), Aminu Umar-Sadiq, CEO of the Nigeria Sovereign Investment Authority (NSIA), Bahruz Bahramov, Deputy CEO, State Oil Fund of the Republic of Azerbaijan (SOFAZ), Miguel Azevedo, Managing Director Vice-Chair, Investment Banking Middle East & Africa, Citigroup, Lionel Zinsou, Former Prime Minister of Benin and Co-founder, SouthBridge, Acha Leke, Senior Partner & Chairman, McKinsey & Company, Africa, Carlos Lopes, Honorary Professor, Mandela School of Public Governance at the University of Cape Town, Tidjane Thiam, Former CEO at Prudential and Credit Suisse, Executive Chairman of Freedom Acquisition Corporation, Thierno-Habib Hann, Chief Executive Officer and Managing Director, Shelter Afrique and Hassan Jaber, Chief Executive Officer, Axian Telecom. Participants can access the full agenda directly on the Djibouti Forum website and follow live discussions from African Business social media platforms. Distributed by African Media Agency. on behalf of IC Publications About the Sovereign Wealth Fund of Djibouti Established in March 2020, the Sovereign Wealth Fund of Djibouti is helping to build a multigenerational savings pot, improve governance, diversify the economy and catalyse greenfield investments in the country's strategic sectors. These include sustainable natural resources and energy, telecommunications and digital infrastructure, technology, tourism, financial services, critical infrastructure and services, healthcare and education. For more information visit: Media contact IC Publications Isabelle Dana
Zawya
14-03-2025
- Business
- Zawya
Development bank BADEA prices its 3-year €750mln bond
The Arab Bank for Economic Development in Africa's (BADEA) has priced its 750 million euro Reg S three-year bond at mid-swap +75 basis points (bps), tighter than its price guidance. The coupon payable is 3% annually, with an issue date of 20 March 2025. Books were in excess of €1.9 billion. The initial price thoughts (IPTs) for the category 2 senior unsecured structure were in the area of MS Euro +90 bps. Banks mandated include the African Export-Import Bank, Citi, Deutsche Bank AG and J.P. Morgan as Joint Global Coordinators along with Emirates NBD Capital, Societe Generale and Standard Chartered Bank as Joint Bookrunners and Joint Lead Managers. Lazard and RB&A Partners are acting as financial advisors of BADEA. Headquartered in Khartoum, Sudan, BADEA is a development financial institution owned by 18 member countries of the League of Arab States (LAS), including the UAE and Saudi Arabia. It has been rated Aa1 (stable) by Moody's, AA (positive) by S&P and AAA (stable) by JCR. The bond issuance falls under BADEA's existing Euro Medium-Term Note Programme and will be listed on the main market of the London Stock Exchange. (Writing by Bindu Rai, editing by Brinda Darasha)
Zawya
11-03-2025
- Business
- Zawya
BADEA mandates banks for 3-year Euro bond
The Arab Bank for Economic Development in Africa (BADEA) has mandated banks for a three-year Euro Reg S bond. Banks mandated for the senior unsecured bond include African Export-Import Bank, Citi, Deutsche Bank AG and J.P. Morgan as Joint Global Coordinators along with Emirates NBD Capital, Societe Generale and Standard Chartered Bank as Joint Bookrunners and Joint Lead Managers. Lazard and RB&A Partners are acting as financial advisors of BADEA. BADEA is a development financial institution owned by 18 member countries of the League of Arab States (LAS), including the UAE and Saudi Arabia, which is rated Aa1 (stable) by Moody's, AA (positive) by S&P and AAA (stable) by JCR. The bond issuance falls under BADEA's existing Euro Medium-Term Note Programme and is subject to market conditions. (Writing by Bindu Rai, editing by Seban Scaria)
