Liberia picks Chinese builders for a new major road construction project

Liberia picks Chinese builders for a new major road construction projectKIGALI (TOA) — The Liberian government has awarded one of the China Railway Engineering Group the construction contract to cement paved the 50 kilometer road from Harper City (South East ) to Karloken in Maryland County near the border with Cote d’Ivoire.

This project which was financed by the African development Bank (AFDB) is in line with the Liberian government’s agenda for infrastructure restoration and the implementation of the road sector strategy which entails linking all counties’ capitals with paved roads while the whole cycle of the project expected to be implemented by the year 2017.

Known as Fish Town- Harper Road Project (FTHRP) Phase I, the initial stag includes technical and road safety audits, while the nature of work to be executed include cement pavement, drainage improvements, putting into place erosion control measures, safety improvements including reflectorized pavement markers to aid nighttime driving, and construction of sidewalks ,curb and gutters through towns along the route.

It is expected that he project is being executed under a four -year project which will see the construction of the road network that will cost about 42.7 million US dollars. Read More…


AfDB vice-president Aly Abou Sabaa: “We are ready to work with the Egyptian Government on reforms”


African Development Bank (AfDB) Vice-President responsible for Sectoral Operations, Aly Abou-Sabaa, as head of the major delegation dispatched by the Bank to Sharm el-Sheikh to attend the Egyptian Economic Development Conference (EEDC), addressed a large audience on Day 2 of the event, Saturday, March 14, 2015.

 In the presence of the Egyptian Minister of International Cooperation, Naglaa El-Ahwany, Abou-Sabaa was speaking as part of a high-level panel of representatives of international financial institutions, on the theme of “How can Egypt’s economic development be effectively supported? Views and perspectives”.

In addition to the AfDB Vice-President, Jin Yong Cai, Senior Vice-President and CEO, International Finance Corporation (IFC), World Bank Group; Abdlatif Al-Hamad, Director General and Chairman, Arab Fund for Economic and Social Development (FADES), Kuwait; Ambroise Fayolle, Vice-President, European Investment Bank (EIB); and Hafez Ghanem, Middle East and North Africa (MENA) Region Vice-President, World Bank, made up this roundtable.

To his peers from international financial institutions (IFIs) and to the entire audience attending the debate – representatives from the public and private sectors – the AfDB Vice-President called for Egypt to be supported in its growth pathway. Emphasising that Egypt is “the second-largest shareholder in the African Development Bank” and that it had undertaken many reforms, Abou-Sabaa said, “We at AfDB are ready to work with the Egyptian Government on the reforms to which it has committed, especially since bold, courageous measures are needed.” He went on to speak of the need to ensure “alignment with the Government’s priorities” intended to promote inclusive growth. Read More…

Nominations open for Africa’s leading banking awards ceremony

Nominations open for Africa’s leading banking awards ceremonyThe most prestigious event in Africa’s banking and finance sector will take place during the annual African Development Bank meetings in Abidjan, Côte d’Ivoire on 27th May. The 9th edition of the African Banker Awards, held under the patronage of the African Development Bank will celebrate and highlight the bankers and financial institutions who are playing a leading role in driving African growth and transformation. This year also happens to be an important year for the African Development Bank who will announce the successor to Donald Kaberuka, its president for the past ten years.

Organized by African Banker magazine in cooperation with Business in Africa Events, the African Banker Awards will continue to maintain its exclusive partnership with the African Development Bank, which over the past year has finalized its move back home from Tunis to Abidjan.

Last week the awards committee issued its call for entries for 2015, officially inviting all financial institutions operating in Africa to participate and compete. The deadline for entries has been set in a month’s time, on the 16th March. Read More…

Kaberuka receives Lifetime Achievement Award from Forbes Africa

The President of the African Development Bank Group, Donald Kaberuka, received the Forbes Africa Lifetime Achievement Award on Thursday, December 4 during the magazine’s 4th Annual Person of the Year Awards ceremony in Nairobi, Kenya.

In a statement delivered on his behalf by Gabriel Negatu, Director of the AfDB’s East Africa Regional Resource Centre, Kaberuka expressed his appreciation for the award, which he dedicated to the 2,000 Bank staff, whom he said, “it is my privilege to lead.

“Anything I have achieved in my ten year stint at the helm of this great Bank has been achieved with their unfailing support, skill and dedication.”

Kaberuka saluted the leaders present at the evening’s awards, and called on them and others to carry the torch: “As I look back on my time in the service of Africa at the African Development Bank. I know we are winning, but we have not won yet.

“Leadership will take us to the goal, and I salute the many of you tonight who are leaders. Your followers constitute the youngest and most dynamic population in the world. Africa has shown that it is a place of immense opportunity for its young people.” Read More….

African Development Bank to contribute to food security in 11 countries

The African Development Bank (AfDB) and the Alliance for a Green Revolution in Africa (AGRA) Kenya have signed on November 14, 2014, in Nairobi, a grant agreement to support the growth and formalization of 54 African seed companies in eleven countries. The Fund for African Private Sector Assistance (FAPA) managed by the Bank has provided US $1 million to fund a technical assistance project in the form of Business Development Services for the 54 seed companies. This technical assistance project will help the seed companies increase their production of quality seeds for rural farmers ultimately contributing to ensuring food security and the reduction of poverty in rural areas. Gabriel Negatu, Regional Director, East Africa Regional Resource Centre, and Agnès Kalibata, President, AGRA, signed on behalf of the Bank and AGRA, respectively.

The 54 seed companies are located in Burkina Faso, Ghana, Mali, Rwanda, Mozambique, Tanzania, Sierra Leone, Senegal, Niger, Liberia and Uganda. Through interactive on-site sessions with seed managers and staff, classroom instructions, field visits, secondment of specialists to seed companies and provision of literature and updates on the seed industry in Africa, the 54 seed companies will be capacitated to improve their management and technical capacity; increase their knowledge of new varieties developed by breeders and gain practical and technical skills enabling them to produce high quality staple crop seeds for African rural farmers. Commenting on the project, Joe DeVries, Director of AGRA’s Program for Africa’s Seed System (PASS), which will be responsible for implementing the project, said, “I am certain this investment will achieve a lot of impact for poor farmers in the form of much larger volumes and better quality seed becoming available in their villages.” Read More….