NAIROBI, Kenya, APO Group- East Africa will register the highest regional economic performance on the continent in 2023 and 2024, with growth figures at over 5%, according to the newly published African Development Bank (www.AfDB.org) 2023 East Africa Economic Outlook. The report, launched on Thursday 27 July, projects mid-term economic growth in the region to...
Heads of State and Government of the African Union (AU) converged began holding their 36th Ordinary Session today 18th February 2023 at the AU headquarters in Addis Ababa, Ethiopia. During the official opening ceremony, the President of the Union of Comoros H.E Azali Assoumani was elected by his pairs to manage the destiny of the Organisation for...
By Abdulkadir Hussein Somalia is a long time fragile and low-income country. It is now tussling so hard to build a world-trusted structure of statehood through an aided systems reform revolution supported by the World Bank, International Monetary Fund (IMF), African Development Bank (AfDB) and other bilateral partners. The national borders, including the ocean and...
By JULIUS BARIGABA Uganda President Yoweri Museveni and his Somali counterpart Hassan Sheikh Mohamud want the United Nations Security Council (UNSC) to lift an arms embargo on the Horn of Africa country to build the capacity to manage its security mandate. In a joint communique, the two heads of State said they “appreciated the support...
ACCRA, Ghana, The African Development Bank (www.AfDB.org) has signed an $830,000 technical assistance grant agreement for Ethiopia. The funds will help mainstream climate risk management, gender and resilience into economic planning and development in the country’s Ziway-Shallah sub-Basin. The signing took place on Thursday 26 May during the African Development Bank Group’s 2022 Annual Meetings,...
By VINCENT OWINO East African states will jointly benefit from at least $8.77 billion worth of investments in transport, healthcare, energy, and agriculture among other sectors, from deals made at the 2021 African Investment Forum concluded on Thursday. The three-day event was organised by the African Development Bank (AfDB) in partnership with other finance organisations...
In 2020, the economies of Djibouti, Ethiopia, Kenya and Somalia together grew by 0.88%, despite the significant downside risks precipitated by the COVID-19 (coronavirus) pandemic and the accompanying economic shakeout. Stark divergence in growth profiles, underlying fragilities and significant risks create a complex context going forward. It is against this backdrop of risk tempered with...
By Abdullahi M. Yahie The novel coronavirus COVID-19 has undoubtedly caused havoc in the world in an unprecedented manner. There are, many, however, who may nonchalantly show a feeling of déjà vu. It seems like we’ve been down this road before with SARS, EPOLA, MERS and the swine flu. Based on exiting literature, SARS, MERS and COVID-19...
ABIDJAN, Ivory Coast, — The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic. The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution’s primary channel for its efforts to address...
By Abdighani Hirad I. Summary On March 25, 2020, Somalia has taken the necessary steps and reached the Decision Point and would begin receiving debt relief under the Enhanced Highly Indebted Poor Country (HIPC) Initiative. The Federal Government of Somalia (FGS) received congratulatory notes from the International Monetary Fund (IMF) and the World Bank (WB)....