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African Development Bank President Dr. Akinwumi Adesina painted a compelling picture of the potential of Africa's agricultural and energy transition during a plenary session at the Africa Investment Forum 2024 Market Days, highlighting the deepening Japan-Africa partnership, emphasizing how Japanese technology and innovation could help unlock them.

In a milestone celebration of African leadership, Dr. Akinwumi Adesina's decade-long impact on continental development has earned him the inaugural "African of the Decade" award. The African Development Bank Group President received this distinguished honor at last week's Africa Investment Forum in Rabat, marking a defining moment in the history of the All-Africa Business Leaders Awards.

The Sustainable Energy Fund for Africa (SEFA) recorded a new milestone at the Africa Investment Forum 2024, with the announcement of Japan as its newest contributor, expanding the Fund’s donor base to 11 and strengthening its capacity to support crucial energy projects.

• Bank signs coordination agreement with Co-Mandated Lead Arrangers Deutsche Bank and Société Générale.

The African Development Bank has signed a coordination letter with Deutsche Bank and Société Générale to establish a syndication strategy to mobilize up to $1.2 billion for Tanzania's Standard Gauge Railway (SGR) project.

The agreement, signed during the African Investment Forum's 2024 Market Days in Rabat, Morocco, underscores the Bank's role as the Initial Mandated Lead Global Coordinator in mobilizing financing for the project.

The African Development Bank Group and Italy’s National Promotional Institution Cassa Depositi e Prestiti (CDP) have signed a new implementing agreement for cooperation through an investment platform to advance the continent’s economic growth.  

The partnership framework agreement between the two entities setting up the Growth and Resilience Platform for Africa (GRAf)—signed on 5 December in Rabat—follows the signing of a letter of intent in July 2024.   

The African Development Bank Group’s Affirmative Finance Action for Women in Africa (AFAWA) program is lending its support to a new $50 million financing agreement to provide financial and business support to Nigeria’s women-led enterprises.

The African Development Bank Group facilitated $2.2 billion in capital mobilization for its transformative Special Agro-Industrial Processing Zones Nigeria Phase II project during the Africa Investment Forum.

Leaders of development finance institutions (DFIs), insurance companies and export credit agencies (ECAs) have urged greater mobilization of the private sector to finance infrastructure in Africa in close collaboration with the public sector.

The call came at the Africa Investment Forum 2024 during a high-level roundtable moderated by Simon Bessant, Texel Group's Global Head of Insurance, on the theme : « Scaling up infrastructure financing through partnerships between DFIs, insurers, and export credit agencies (ECAs). »

The African Development Bank has been named mandated lead arranger for the Moyi Power Metro-Grids project, a $340 million private sector-led electrification program  in the Democratic Republic of Congo.

This landmark project, by a consortium comprising Gridworks, Eranove, and AEE Power, will bring clean, reliable, and affordable electricity to over one million people in three isolated cities in DRC, a country facing a severe energy access deficit, with more than 80 percent of the population currently without access to electricity.

The Africa Investment Forum 2024 Markets Days has recorded a total of $29.2 billion in new investor interests after three days of boardroom discussions in Rabat, Morocco.

The Chair of the Africa Investment Forum, President of the African Development Bank, Dr Akinwumi A Adesina, described this latest total as “truly outstanding” and added that this could be even higher as in addition to the 37 deals that were ready, there were still more investments that were being discussed and worked on.

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