just now

    • European investor set to establish Rwanda football academy

      APA-Kigali (Rwanda) — The Rwanda Football Federation (FERWAFA) and INEOS Europa AG on Wednesday sealed a partnership to establish a multi-million football academy in the East African country.

    • Botswana lifts hunting ban

      APA-Gaborone (Botswana) — Botswana has lifted a contentious ban on trophy hunting, a senior official announced on Wednesday.

    • Senegal’s gold exports hit upward trajectory

      APA- Dakar (Senegal) By Massamba Sall — Senegal’s raw gold exports at the end of March 2019 increased by CFA15.149 billion (about $25.753 million) compared with the same period in 2018, according to data established by g...


    AfDB governors give all-clear for capital build-up

    APA-Dakar (Senegal)

    The Board of Governors of the African Development Bank (AfDB) on Friday gave the green light to open talks on increasing the institution’s capital base.

    A statement on its website said said while meeting in Busan, South Korea, the 80 AfDB governors authorized their committee to begin negotiations on shoring up its general capital in a bid to enable the bank meet its financing needs to regional member countries.

    The 53rd AfDB AGMs ended in Busan on Friday “in an atmosphere of general satisfaction” especially due to the capital increase measure approved by the governors.

    AfDB's authorized and subscribed capital stands at just over $65 billion as of December 31, 2017.

    However, the Governors say this capital increase should be preceded by the presentation of a well-focused strategic report on the role of the AfDB within the context of the overall development architecture and an assessment of reforms to increase its ability to meet its objectives.

    The Governors also welcomed the Bank's performance in 2017, which recorded $8.7 billion in approval and over $ 7 billion in disbursements.

    The Council underscored “the need for a strong and financially sustainable, efficient, effective, accountable and results-oriented African Development Bank.”


    React to this article