Africa Financial Services 

Ghana Cocoa Board, African Development Bank and financial partners celebrate first $200 million disbursement of loan to boost cocoa productivity in Ghana

Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of $200 million of a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer. The occasion was marked by a ceremony held in Accra, Ghana on Tuesday 23 June, followed online by hundreds of observers across the globe. In attendance were COCOBOD and government representatives and participating lenders, which included development finance institutions: the African Development Bank (https://www.AfDB.org/), the Japan International Cooperation Agency (JICA), the Development Bank of Southern Africa and Cassa Depositi e Prestiti Spa.…

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Advertising Africa 

How Rwanda is spurring a generation of women in technology

Rwanda is renowned as a leader of gender equality. In 2020, it was the only African country ranked in the top 10 of the World Economic Online forum’s International Gender Gap Report. It ranked in the leading four in the Report’s political empowerment classification, in recognition of the high proportion of Rwandese women lawmakers and ministers. The nation therefore appeared a natural suitable for a 2018 pilot program of the African Development Bank’s Coding for Work initiative, with Nigeria, Kenya, Côte d’Ivoire and Senegal. The Coding for Employment flagship program…

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Africa Information Services 

How Rwanda is spurring a generation of women in technology

Rwanda is renowned as a pioneer of gender equality. In 2020, it was the only African country ranked in the top 10 of the World Economic Forum’s Global Gender Gap Report. It ranked in the top four in the Report’s political empowerment category, in recognition of the high proportion of Rwandese women lawmakers and ministers. The country therefore seemed a natural fit for a 2018 pilot program of the African Development Bank’s Coding for Employment initiative, with Nigeria, Kenya, Côte d’Ivoire and Senegal. The Coding for Employment flagship program is…

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Africa Oil and Gas 

Nigeria now in full compliance with everyday oil output

The increasing cost of Nigeria’s debt profile breached a brand-new milestone with the country’s financial obligation service as a percentage of income rising to 99% in the first quarter of 2020. This is contained in the Medium-Term Expense Framework and Financial Technique (MTEF/FSP) report recently released by the Federal Ministry of Finance, Budget Plan, and National Planning A general review of the data acquired from the MTEF/FSP report shows that in Q1 2020, Nigeria sustained a total amount of N943.12 billion in debt service while the federal government retained income…

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Africa Financial Services 

African Development Bank approves $288.5 million loan for Nigeria to respond to COVID-19

The loan is the Bank’s initial response to help mitigate the slump in oil prices and its impact on the national economy. About 40.1% of Nigerians live below the poverty line of $1.90 per day and it is feared that the fall in household income during the pandemic will result in wealth deterioration for both the formal and informal sector workers. “The proposed program will ensure that the fiscal position and the economy are sufficiently supported to weather the COVID-19 shocks, thereby limiting its potential adverse impact on livelihoods and the…

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