Latest news with #BADEA
Zawya
31-07-2025
- Business
- Zawya
BADEA approves $120mln to support Shelter Afrique Development Bank capitalization program
Nairobi, Kenya – Shelter Afrique Development Bank (ShafDB) has announced the signing of a strategic agreement with the Arab Bank for Economic Development in Africa (BADEA) to support its transformative capital increase initiative. Effectively, BADEA has approved a landmark USD 120 million to support the capitalization program of Shelter Afrique Development Bank, the leading Pan-African institution focused on affordable housing and urban development. The concessional financing facility will help eligible member states settle and increase their capital subscriptions to ShafDB. This initiative, developed in partnership with the Arab Bank for Economic Development in Africa (BADEA), introduces an innovative financing mechanism through which eligible member states can access on-lending at competitive terms. The BADEA-supported facility, totaling USD 120 million, will be used to settle and boost member states' capital subscriptions to Shelter Afrique Development Bank (ShafDB). 'This agreement with BADEA marks a critical step in strengthening our capital base and advancing our mission of financing affordable housing and sustainable urban infrastructure across Africa,' said Thierno Habib-Hann, Managing Director of Shelter Afrique Development Bank. 'We are grateful to BADEA for its strong partnership and unwavering support in this pivotal phase of our institutional evolution.' The new capital increase program includes an initial equal allocation to all member states, followed by a phased reallocation, first on a pro-rata basis, and then on a first-come, first-served basis. This approach aims to encourage active participation by member states and to strengthen ShafDB's capital adequacy in a balanced and transparent manner. Commenting on the program, the president of BADEA H.E. Abdullah KH ALMUSAIBEEH, 'We see this capital program as a strategic milestone in Shelter Afrique Development Bank's evolution. BADEA is proud to back this initiative and we remain committed to our shared mission of enabling access to decent housing and inclusive urban development across Africa.' The need to enhance equity capital has become critical following the institution's transformation into a Development Bank, a milestone formally approved by Shelter Afrique's shareholders during the Extraordinary General Meeting (EGM) held in Algiers, Algeria, in October 2023. Building on this transformation, a significant achievement was realized during the Annual General Meeting in June 2024 in Kigali, Rwanda, where shareholders demonstrated strong leadership by endorsing a transformative capital increase program, and the board approved in December 2024 a capital increase of over a USD 200 million. 'Expanding capital base will enable the Bank to scale up financing along the housing value chain, access more competitive funding from international and African capital markets, and reinforce its role in addressing the housing deficit and driving inclusive urban development across its 44 member states,' Mr. Hann said. Increased leverage The capital increase program has been designed to significantly strengthen ShafDB's balance sheet over the medium-term, expand its shareholder capital base, and to significantly mobilize debts. The capital raised will also support the Bank's plans to attain investment-grade credit ratings, attract new institutional investors, and expand its lending and technical assistance programs in member countries. About Shelter Afrique Development Bank: Established in 1981 in Lusaka, Zambia, Shelter Afrique Development Bank (ShafDB) is a Pan-African Multilateral Development Bank (MDB) dedicated to promoting and financing sustainable green housing, urban development and related infrastructure. It operates through a shareholding of 44 African governments and two institutional shareholders: African Development Bank (AfDB) and African Reinsurance Corporation (Africa-Re). The institution is involved in financing housing and related infrastructure across the value chain, both on the demand and supply sides, through its four (4) business lines: Financial Institutions Group (FIG), the Project Finance Group (PFG), the Sovereign and Public-Private partnerships (PPP) Group, and the Fund Management Group (FMG). About the Arab Bank for Economic Development in Africa (BADEA): The Arab Bank for Economic Development in Africa (BADEA) is a multilateral financial institution established in 1974 by the Arab League. BADEA aims to strengthen economic, financial, and technical cooperation between Arab and African regions by financing development projects and supporting capacity building. For further inquiries, please contact: Communication Team | Shelter Afrique| Shelter Afrique Centre | Longonot Road – Upper Hill| Email: info@ OR Mike Omuodo | Media Fast PR| Email: |
Zawya
04-06-2025
- Business
- Zawya
Africa Investment Forum partners sign partnership framework agreement at AfDB Group's 2025 annual meetings
ABIDJAN, Ivory Coast/ -- On the sidelines of the African Development Bank Annual Meetings ( founding partners of the Africa Investment Forum signed a Partnership Framework Agreement, reinforcing their collective commitment to mobilize transformative investments across the African continent. The new framework creates a clearer partnership model that sets out the roles and benefits for the founding partners. It also opens the door for expansion to new partners, ensuring everyone benefits while increasing the Forum's overall impact. Launched in 2018, the Africa Investment Forum platform has solidified its standing as Africa's premier investment marketplace for global investors and has garnered nearly $225 billion in investment interest to date. Principals of the African Development Bank Group, Africa50, Africa Finance Corporation, Development Bank of Southern Africa (DBSA) and Arab Bank for Economic Development in Africa (BADEA) signed the agreement. The other partners are Trade and Development Bank, European Investment Bank, Islamic Development Bank and Afreximbank. Speaking at the signing ceremony, President of the African Development Bank Group and chairperson of the Africa Investment Forum, Dr. Akinwumi A. Adesina said: "This agreement is a testament to our shared vision: that Africa will not be developed by aid, but by investment. The AIF has changed perceptions and proven that Africa is indeed a bankable destination." Dr Fahad Abdullah Aldossari, Chairman of BADEA's Board of Directors said: 'The signing of the AIF Framework Agreement marks a remarkable milestone to ascertain both effectiveness and efficiency as well as financial sustainability for AIF 2.0 in a bid to advance more projects to bankability and crowd-in transformative investments to the continent.' Alain Ebobissé, CEO of Africa 50 said: 'This signature marks our renewed commitment to support the objectives of the Africa Investment Forum, launched under the visionary leadership of President Adesina. It is a much-needed deal-making platform that helps strengthen collaborations and leverage innovative models to unlock private capital to accelerate the delivery of bankable projects on the continent. It is critical for African Institutions to support it'. 'As a Founding Partner, we are proud to see this initiative formally take shape. Through AIF, we've proven what Africa can achieve when we collaborate — building the continent's first investment platform that truly mobilizes capital for bankable, high-impact projects,' said Samaila Zubairu, President and CEO of Africa Finance Corporation. "We have to continue leveraging the AIF as a platform for capital mobilisation in Africa, to bridge the infrastructure funding gap in the continent," said DBSA's CEO Boitumelo Mosako. The signing of the Partnership Framework Agreement takes place ahead of what is expected to be an expanded and impactful Market Days 2025, to be held from 26 to 28 November 2025 in Rabat, Morocco. Market Days, the centerpiece of the Africa Investment Forum platform, brings together investors, deal sponsors and heads of government to advance transformational African projects toward financial close. Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media Contact: Hafsa Dia-Enoh Communication and External Relations Email: media@ SOURCE African Development Bank Group (AfDB)
Zawya
04-06-2025
- Business
- Zawya
Africa Investment Forum Partners Sign Partnership Framework Agreement at African Bank Development Bank Group's 2025 Annual Meetings
On the sidelines of the African Development Bank Annual Meetings ( founding partners of the Africa Investment Forum signed a Partnership Framework Agreement, reinforcing their collective commitment to mobilize transformative investments across the African continent. The new framework creates a clearer partnership model that sets out the roles and benefits for the founding partners. It also opens the door for expansion to new partners, ensuring everyone benefits while increasing the Forum's overall impact. Launched in 2018, the Africa Investment Forum platform has solidified its standing as Africa's premier investment marketplace for global investors and has garnered nearly $225 billion in investment interest to date. Principals of the African Development Bank Group, Africa50, Africa Finance Corporation, Development Bank of Southern Africa (DBSA) and Arab Bank for Economic Development in Africa (BADEA) signed the agreement. The other partners are Trade and Development Bank, European Investment Bank, Islamic Development Bank and Afreximbank. Speaking at the signing ceremony, President of the African Development Bank Group and chairperson of the Africa Investment Forum, Dr. Akinwumi A. Adesina said: "This agreement is a testament to our shared vision: that Africa will not be developed by aid, but by investment. The AIF has changed perceptions and proven that Africa is indeed a bankable destination." Dr Fahad Abdullah Aldossari, Chairman of BADEA's Board of Directors said: 'The signing of the AIF Framework Agreement marks a remarkable milestone to ascertain both effectiveness and efficiency as well as financial sustainability for AIF 2.0 in a bid to advance more projects to bankability and crowd-in transformative investments to the continent.' Alain Ebobissé, CEO of Africa 50 said: 'This signature marks our renewed commitment to support the objectives of the Africa Investment Forum, launched under the visionary leadership of President Adesina. It is a much-needed deal-making platform that helps strengthen collaborations and leverage innovative models to unlock private capital to accelerate the delivery of bankable projects on the continent. It is critical for African Institutions to support it'. 'As a Founding Partner, we are proud to see this initiative formally take shape. Through AIF, we've proven what Africa can achieve when we collaborate — building the continent's first investment platform that truly mobilizes capital for bankable, high-impact projects,' said Samaila Zubairu, President and CEO of Africa Finance Corporation. "We have to continue leveraging the AIF as a platform for capital mobilisation in Africa, to bridge the infrastructure funding gap in the continent," said DBSA's CEO Boitumelo Mosako. The signing of the Partnership Framework Agreement takes place ahead of what is expected to be an expanded and impactful Market Days 2025, to be held from 26 to 28 November 2025 in Rabat, Morocco. Market Days, the centerpiece of the Africa Investment Forum platform, brings together investors, deal sponsors and heads of government to advance transformational African projects toward financial close. Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Kuwait Times
31-05-2025
- Business
- Kuwait Times
Mauritanian Africa's new ‘super banker'
ABIDJAN: Mauritania's former economy minister Sidi Ould Tah was on Thursday elected to succeed Nigeria's Akinwumi Adesina as president of the African Development Bank (AfDB) and tackle the withdrawal of US financing from the institution. In 2015 Adesina took six rounds of voting to become Africa's 'super banker' but Tah, 60, secured the prestigious post in only three, winning 76.18 percent of votes. Zambian economist Samuel Munzele Maimbo trailed well behind in second on 20.26 percent, with Senegal's Amadou Hott third on 3.55 percent. The winner had to secure both a majority of votes from all 81 member countries and a majority of votes from the 54 African nations who are part of the AfDB. Tah, who headed the Arab Bank for Economic Development in Africa (BADEA) for 10 years, secured 72.37 percent of African votes. 'I wish to congratulate Dr Sidi Ould Tah on his successful election as the President-elect of the African Development Bank Group,' Maimbo said in a statement. 'I entered this race driven by love and deep concern for our continent, and offered a vision for Africa's future. Today, the Governors have chosen the leader they believe will best deliver the vision of the Africa we want at this pivotal moment.' With several north African states members of the AfDB, Tah's experience at the BADEA could be a bridge with sub-Saharan Africa. In his pitch for the AfDB leadership, he vowed to strengthen regional financial institutions, assert Africa's financial independence on global markets, use population growth as a development lever and build climate change-resistant infrastructure. The AfDB, founded in 1964, is one of the world's largest multilateral development banks and is funded by member subscriptions, loans raised on global markets as well as repayments and income from loans. But Tah will immediately face a disrupted international economic environment, notably due to announcements from the US Trump administration. Beyond tariffs, the AfDB is also facing the threat of losing $500 million in US funding for its projects to support low-income countries on the continent. All five candidates in the running for the top job promised to make the AfDB even more effective to transform Africa, continuing Adesina's five priorities to light up, feed, industrialize, integrate and improve quality of life. 'I am proud of the legacy we are leaving behind for... my successor, for the bank and for Africa,' the outgoing president said in a speech on Tuesday. 'We have built a world-class financial institution that will continue to advance Africa's position within a rapidly changing global development and geopolitical environment,' he added. Adesina said 565 million people had benefited from AfDB projects during his decade in charge. Major projects include support for the construction of the Gabal El Asfar wastewater treatment plant in Egypt — the largest in Africa. The bank also helped finance a bridge connecting Senegal and the Gambia, expanded the port of Lome in Togo and supported sanitation projects in Lesotho and access to electricity in Kenya, he said. From 2015 to this year, the bank's capital more than tripled from $93 billion to $318 billion, he added. — AFP
Qatar Tribune
29-05-2025
- Business
- Qatar Tribune
Mauritanian Africa's new ‘super banker'
Agencies Mauritania's former economy minister Sidi Ould Tah was on Thursday elected to succeed Nigeria's Akinwumi Adesina as president of the African Development Bank (AfDB) and tackle the withdrawal of US financing from the institution. In 2015 Adesina took six rounds of voting to become Africa's 'super banker' but Tah, 60, secured the prestigious post in only three, winning 76.18 percent of votes. Zambian economist Samuel Munzele Maimbo trailed well behind in second on 20.26 percent, with Senegal's Amadou Hott third on 3.55 percent. The winner had to secure both a majority of votes from all 81 member countries and a majority of votes from the 54 African nations who are part of the AfDB. Tah, who headed the Arab Bank for Economic Development in Africa (BADEA) for 10 years, secured 72.37 percent of African votes. 'I wish to congratulate Dr Sidi Ould Tah on his successful election as the President-elect of the African Development Bank Group,' Maimbo said in a statement. 'I entered this race driven by love and deep concern for our continent, and offered a vision for Africa's future. Today, the Governors have chosen the leader they believe will best deliver the vision of the Africa we want at this pivotal moment.' With several north African states members of the AfDB, Tah's experience at the BADEA could be a bridge with sub-Saharan Africa. In his pitch for the AfDB leadership, he vowed to strengthen regional financial institutions, assert Africa's financial independence on global markets, use population growth as a development lever and build climate change-resistant infrastructure. The AfDB, founded in 1964, is one of the world's largest multilateral development banks and is funded by member subscriptions, loans raised on global markets as well as repayments and income from loans. But Tah will immediately face a disrupted international economic environment, notably due to announcements from the US Trump administration. Beyond tariffs, the AfDB is also facing the threat of losing $500 million in US funding for its projects to support low-income countries on the continent. All five candidates in the running for the top job promised to make the AfDB even more effective to transform Africa, continuing Adesina's five priorities to light up, feed, industrialize, integrate and improve quality of life. 'I am proud of the legacy we are leaving behind for... my successor, for the bank and for Africa,' the outgoing president said in a speech on Tuesday. 'We have built a world-class financial institution that will continue to advance Africa's position within a rapidly changing global development and geopolitical environment,' he added. Adesina said 565 million people had benefited from AfDB projects during his decade in charge. Major projects include support for the construction of the Gabal El Asfar wastewater treatment plant in Egypt — the largest in Africa. The bank also helped finance a bridge connecting Senegal and the Gambia, expanded the port of Lome in Togo and supported sanitation projects in Lesotho and access to electricity in Kenya, he said. From 2015 to this year, the bank's capital more than tripled from $93 billion to $318 billion, he added.
