24

Jun

The African Development Bank Will Develop Investment Banks For African Youthful Entrepreneurs

Akinwumi Adesina, President of the African Development Bank (AfDB), announced on Wednesday that the multilateral lender would soon establish investment banks for young entrepreneurs on the continent. Speaking at the Commonwealth Business Forum in Kigali, Rwanda, Adesina questioned the structure of the continent’s existing commercial banks. He claimed that Africa’s present financial institution model was not built to benefit youth and that if 21-year-olds tried to receive loans from banks, they would demand 40 years of tax receipts in order to dissuade them from seeking financial assistance. The AfDB president emphasized that the Youth Entrepreneurship Investment Banks would focus on […]

23

May

In 2022, The AfDB Will Lend $500 Million To Women In Order To Raise $5 Billion For African Women’s Companies

Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), has stated that the financial organization will lend $500 million to women by 2022. This comes as the bank’s Affirmative Action for Women in Africa (AFAWA) initiative raises $5 billion with the help of French President Emmanuel Macron and the G-7. This information is contained in a statement released by Adesina on his official Twitter account on Sunday, May 22, 2022, in which he also stated that the bank gave out $483 million to financial institutions to lend to women businesses in 2021. Adesina’s statement comes as the bank begins[…]

10

Feb

The African Development Bank Has Set Aside $500 Million In Incentives For Women-Owned Enterprises

Dr. Akinwumi Adesina, President of the African Development Bank, has revealed that the bank has earmarked $500 million to be disbursed as incentives to promote women-owned enterprises across the continent in 2022. This was stated in a speech given at the 35th African Union Summit in Addis Ababa, Ethiopia. On Wednesday, a copy of the address was released on the official Facebook page of a presidential aide, Femi Adesina. Adesina stated that the $500 million in incentives were intended to assist women as part of steps to ensure the success of women-owned companies across the continent. According to him, about[…]