Latest news with #CôtedIvoire
Zawya
14 hours ago
- Business
- Zawya
TDB Group wins 2025 Bank of the Year at the African Banker Awards
Abidjan – Wednesday night in Abidjan, Côte d'Ivoire, on the margins of the 2025 Annual Meetings of the African Development Bank, prominent players in Africa's banking and financial industry gathered at the distinguished African Banker Awards' Gala Dinner – where several African development finance institutions were celebrated, alongside commercial banks and leading luminaries of the sector. It was with great appreciation and honor that the Trade and Development Bank Group (TDB Group) received the distinction of Africa's Bank of the Year – in recognition of the Bank's focus on inclusiveness, service innovation, customer satisfaction, and contributing to the continent's growth through a stronger financial sector. TDB Group distinguishes itself in the market through its innovative spirit and its ongoing dedication to reform and improvement. This is accomplished through institutional innovation and robust partnerships that enable it to effectively adapt to the context in which it operates. In 2024 in particular, TDB Group continued innovating its capital structure, introducing hybrid capital to continue crowding in more institutional investors in a suitable manner. Thanks to its deep understanding of market dynamics and the needs of its member states, TDB evolved into a Group, positioning itself to broaden its triple bottom-line impact, enhance its sustainability, and extend its reach to additional jurisdictions, more end beneficiaries, including more vulnerable end beneficiairies. The Trade and Development Banking Strategic Business Unit is the Group's development banking arm, which offers bilateral and syndicated short-term trade and long-term project finance which meaningfully contributes to the economic, social and environmental development of member states. Furthermore, through the Trade and Development Fund (TDF), the Group provides concessional financing to improve the terms of the financing to be deployed particularly towards public goods, technical assistance to address upstream challenges, as well as programme management which focuses on women empowerment, youth employment, MSMEs, and sustainable and responsible investments across different sectors. Also, TDB Group's asset management arm focuses on designing, originating, and growing stand-alone investment vehicles for a diverse range of investors and development partners. These vehicles which comprise specialised fund managers, funds and programmes are designed to meet the evolving needs and objectives of its diverse spectrum of stakeholders. TDB Captive Insurance Company (TCI) streamlines risk management across the Group, thus further enhancing its efficiency and sustainability. With TDB Academy, the capacity building arm of the Group, the Bank continues bolstering the capacity of its staff and of its stakeholders via training, seminars, conferences, and other human and institutional capacity development interventions. This boosts TDB Group's own sustainability, and strengthens the capacity of its stakeholders. This accolade highlights how the various pieces of the TDB Group mosaic are crafted and integrated, highlighting the remarkable agility with which these pieces seamlessly unite and synergize in this dynamic environment. About TDB Group Established in 1985, the Trade and Development Bank Group (TDB Group) is an African regional multilateral development bank, with a mandate to finance and foster trade, regional economic integration and sustainable development in Africa. TDB Group counts several subsidiaries and strategic business units including Trade and Development Banking, TDB Asset Management (TAM), the Trade and Development Fund (TDF), TDB Captive Insurance Company (TCI), the ESATAL fund management company and TDB Academy.
Zawya
2 days ago
- Business
- Zawya
Curtain falls on African Development Bank Group 2025 Annual Meetings, New President Elected
Nigeria provides $500 million to extend the Nigeria Trust Fund for another 15 years 'It has been the greatest honour of my life to serve as president of the African Development Bank Group and to serve Africa '– Dr. Akinwumi Adesina The African Development Bank Group's 2025 Annual Meetings ( closed on Friday with a plenary session, following five days of meetings and discussions on Africa's development landscape. The meetings also saw the election of a new president for a five-year term, beginning 1 September. On Thursday, governors of the Group's 81 shareholders elected former finance minister Mauritanian Sidi Ould Tah as the new president of the continent's premier development institution. The meetings were held in Abidjan, Côte d'Ivoire from 26-30 May under the theme: Making Africa's Capital Work Better for Africa's Development —a call for leaders to ditch aid and look inwards to Africa's rich capital to solve its development and economic challenges. Secretary General of the Bank Vincent Nmehielle described the meetings as a 'resounding success'. He thanked Nialé Kaba, Minister of Economy, Planning and Development, outgoing Chairperson of the Boards of Governors, for her 'sterling work, dedication and guidance of her duties over the past year.' He also thanked the 81 governors—finance ministers, economy ministers or central bank governors representing each of the African Development Bank's shareholder countries. Thirteen outgoing executive directors who have finished their term of office were recognized. Together, they represent a 75 percent change in the board composition for the next year. Outgoing President Dr. Akinwumi Adesina expressed his best wishes to the president-elect. 'I am delighted for my brother and friend on his election as president of the African Development Bank Group. Hearty congratulations! I wish you great success in the years ahead,' Adesina said. Participants also heard video congratulatory messages to Adesina from world leaders, including World Bank head Ajay Banga and Ngozi Okonjo-Iweala, director general of the World Trade Organization. The Board of Governors also sent a congratulatory message conveyed through the Bank governor for Zambia, Situmbeko Musokotwan, Minister of Finance and National Planning. 'We thank you for the remarkable results,' he said. The meetings also saw new milestones for the Bank. On Thursday, the Bank signed an agreement with the Finance ministry of Nigeria to extend the Nigeria Trust Fund ( another 15 years. Nigeria provided an additional $500 million to the Nigeria Trust Fund. 'An impressive contribution. Thank you, Nigeria,' Adesina said. The Nigeria Trust Fund, the third arm of the Bank Group, is a self-sustaining revolving fund set up to assist the development efforts of the Bank's low-income regional member countries whose economic and social conditions and prospects require concessional financing. Its resources are allocated to projects, not to countries. 'I am glad this agreement was signed a day before the end of the meetings,' Adesina said. In an emotional farewell, Adesina sang a few of his favorite songs—Johnny Nash's 'I can see clearly now,' and Bob Geldof's 'We are the World.' 'This is my last Annual Meetings as president of the African Development Bank Group, after completing two five-year terms,' Adesina said. 'It has been an extraordinary ten years working together... Thank you for the opportunity, trust and resources you gave me to serve as President of the African Development Bank Group. It has been the greatest honour of my life to serve as President of the African Development Bank Group and to serve Africa.' In a short ceremony Kaba, handed the African Development Bank's flag to Congolese Economy minister Ludovic Ngatse and announced that the 2026 Annual Meetings of the Bank Group will take place in Congo Brazzaville from 25-29 May 2026. Speaking on behalf of Ivorian Prime Minister Robert Beugre, Kaba also thanked all participants 'for contributing to the strategic reflection and solidarity with a view to steering our continent to a better future. and Cote d'Ivoire, the host country.' In addition to the official programme, 60 side events as well as cultural events and a spouse's programme were part of this year's colourful meetings. To review sessions you missed or for any information on the Annual Meetings, click here ( Distributed by APO Group on behalf of African Development Bank Group (AfDB). Contact: Amba Mpoke-Bigg Communication and External Relations Department email: media@ 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:
Arab News
3 days ago
- Business
- Arab News
Saudi EXIM Bank targets African markets with 4 new MoUs
RIYADH: Saudi Arabia is accelerating the expansion of its non-oil exports into African markets, with the Saudi Export-Import Bank securing four new strategic agreements to strengthen trade and investment ties across the continent. Saudi Export-Import Bank CEO Saad bin Abdulaziz Al-Khalb signed memoranda of understanding with Africa50, the Ghana Export-Import Bank, Blend International Limited, and Guinea's Ministry of Planning and International Cooperation, the Saudi Press Agency reported. The deals were finalized on the sidelines of the African Development Bank Group's annual meetings, held in Côte d'Ivoire from May 26 to 30. The newly signed deals come as Saudi exports to Africa surged 20.6 percent year on year to SR7.84 billion ($2.09 billion) in March 2025, reflecting growing trade ties between the Kingdom and the continent. Al-Khalb said the bank's participation in the meetings aims to deepen international trade relations and forge partnerships that support Saudi non-oil export growth in African markets. The SPA report added: 'He stated that the memoranda of understanding are an extension of the bank's efforts to promote trade exchange, stimulate development projects, and enable local exporters to export their services and products to African markets through effective and extended partnerships, contributing to supporting sustainable development goals and enhancing economic integration.' He also described the gathering as a valuable opportunity to boost economic cooperation and engage with officials from export credit agencies and financial institutions across African countries. The agreements were signed by Saudi EXIM CEO Saad bin Abdulaziz Al-Khalb, along with Alain Ebobisse, CEO of Africa50; Sylvester Mensah, CEO of the Ghana Export-Import Bank; Ravi Gupta, managing director of Blend International Limited; and Ismail Nabeh, minister of planning and international cooperation of Guinea. The MoU with Africa50 is aimed at enhancing cooperation in infrastructure projects by partnering with Saudi companies. The agreement with the Ghana Export-Import Bank will focus on exploring cooperation opportunities and enhancing bilateral exports of services and products. Meanwhile, the MoU with Blend International Limited is aimed at targeting broader trade opportunities and international partnerships. The deal with Guinea's Ministry of Planning and International Cooperation seeks to bolster development projects and investment in priority sectors, enabling Saudi exports of engineering services and industrial supplies. Also, on the sidelines of the event, Al-Khalb and his delegation held in-depth discussions with leaders of several international financial institutions, focusing on expanding trade ties and boosting the flow of Saudi non-oil exports into African markets.
Zawya
5 days ago
- Business
- Zawya
Africa Finance Corporation (AFC) Backs Mota-Engil Africa with EUR 100M Facility to Boost Gold Mining in West Africa
Africa Finance Corporation ( the continent's leading infrastructure solutions provider, today announced that it has provided a EUR 100 million, 5year term facility to Mota-Engil Africa (MEA), the regional arm of the global construction giant, Mota -Engil Group. The funding will support the acquisition of equipment, inventories, and site infrastructure for the execution of three new gold- mining contracts in Côte d'Ivoire and Mali. AFC's funding will enable Mota-Engil Africa to scale up operations in West Africa's burgeoning mining sector, where gold remains a critical export commodity and a driver of local employment and foreign exchange earnings. The new mining contracts represent a significant boost for the mining industries in both Côte d'Ivoire and Mali, countries with substantial untapped mineral potential. The facility is another milestone in AFC and MEA's longstanding strategic relationship with MEA, which began in 2016. AFC has played a leading advisory role in several of the institution's recent landmark transactions including the new Bugesera International Airport project in Rwanda, the US$2 billion Kano Moradi rail project in Nigeria and the 1,289km Lobito I rail line project in Angola, where AFC is acting as financial adviser to Lobito Atlantic Railway- the consortium comprising Mota Engil Africa, Trafigura and Vecturis SA. Commenting on the transaction, Samaila Zubairu, President&CEO of Africa Finance Corporation, said: "This transaction underscores the strength of our decade-long relationship with Mota-Engil Africa and our shared vision to deliver sustainable economic transformation across Africa. Gold continues to be a vital economic driver for many African nations, and through this investment, AFC is helping to unlock long-term value- supporting export earnings, job creation, and broader industrial development of the region.' Manuel Mota, Chairman, Mota-Enjil Africa said: 'Today marks a significant milestone for Mota-Engil Africa. We are proud to announce the successful closing of financing for three new mining projects, in partnership with Africa Finance Corporation. This achievement reflects not only the strength of our project portfolio but also the confidence that premier institutions like AFC place in our strategy, our capabilities, and our people.' This latest investment builds on AFC's strategy to expand its portfolio into critical contractor financing initiatives across Africa; not only supporting the execution of critical public and private sector projects but unlocking much needed on and off-balance sheet financing opportunities. Notably, AFC is also the commercial tranche financier of the 186 Metallic Bridges project being constructed by Conduril Engenharia S.A. in Angola. AFC continues to work with contractors, providing critical funding to unlock value and to close the infrastructure gap, driving industrialisation, economic resilience, and sustainable development across the continent. Distributed by APO Group on behalf of Africa Finance Corporation (AFC). Media Enquiries: Yewande Thorpe Communications Africa Finance Corporation Mobile : +234 1 279 9654 Email : About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
Zawya
6 days ago
- Business
- Zawya
African Development Bank (AfDB): AFRICA24 Group Brings You Live Coverage of the 2025 Annual Meetings
From May 26 to 30, 2025, Côte d'Ivoire will host the Annual Meetings of the African Development Bank (AfDB) — a strategic event that sets the major directions for economic development, investment, and cooperation across the continent. During this summit, the African Development Bank will also appoint a new president. In a rapidly changing global context marked by climate, energy, and social challenges, these meetings offer a unique platform for dialogue between African governments, technical and financial partners, regional institutions, and the private sector. AFRICA24 Group, the leading television network for news coverage across the continent, will provide comprehensive and exclusive coverage of all high-level activities on its two flagships channels: Africa24TV (in French) and Africa24 English. The objective: to make key economic issues accessible on the continental level and give a voice to the decision-makers shaping Africa's future. AFRICA24 Group's full coverage includes: Live broadcasts of the opening session, plenary meetings, panels, and prestigious guest speakers Exclusive interviews with economic and political leaders Immersive reports highlighting local and regional dynamics Rigorous editorial analysis to bring clarity to the discussions Experience the 2025 AfDB Annual Meetings on AFRICA24 (Channel 170) and AFRICA24 English (Channel 176) on the Canal+ Afrique bouquet, as well as on the MyAfrica24 app, the first global HD streaming platform dedicated to Africa (available on Google Play Store). Distributed by APO Group on behalf of AFRICA24 Group. Media Contact: Communications Department – Africa24 Gaëlle Stella Oyono Email: onana@ Phone: +237 694 90 99 88 Follow us on social media: @ africa24tv
