#the African Development Bank (AfDB)

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African Development Bank Promotes Good Governance for Water Access in Kenya

Kenya’s Water and Sanitation Investors Conference 2024, held in the capital, Nairobi, concluded with a call for accelerated investment towards universal access to water and sanitation by 2030. The March 6-8 conference underscored the need for collaboration to support governments in bridging the financing gap through private sector funding, blended financing from commercial banks, Development…

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Un nuevo informe revela que los países africanos han generado 1700 millones de euros en ingresos adicionales al abordar la evasión fiscal y los flujos financieros ilícitos

La Organización para la Cooperación y el Desarrollo Económicos (OCDE) estima que África pierde hasta $60 mil millones cada año en flujos financieros ilícitos. Según el informe de progreso de Transparencia fiscal en África de 2023 ( https://apo-opa.info/3D4ydri ) presentado en la 13.ª Reunión de la Iniciativa África en Ciudad del Cabo, los países africanos han obtenido ingresos adicionales por un…

[greenfue]

Al-Mashat: We support partnerships undertaken by the African Development Bank to develop innovation and stimulate efforts to develop healthcare and pharmaceutical industries

During a high-level event within the framework of the preparations for the annual meetings of the African Development Bank (AfDB) in Sharm El-Sheikh, with the participation of the bank’s President, Akinwumi Adesina, the Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat, participates in a panel discussion on the “Pharmaceutical Technology Foundation (APTF)” initiative ● We support…

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Yacine Fal is a Senegalese lawyer and corporate executive. Currently, she serves as the Acting Vice President at the African Development Bank Group (AfDB), responsible for "Regional Development, Integration and Business Delivery", effective 17 December 2021. Before that, from November 2020 until December 2021, she was the Director General in the Cabinet of the President of the AfDB.[1]

Background and education

She is a Senegalese national. She holds a Master of Laws degree, awarded by the University of Dakar. She also obtained a postgraduate degree in international law, from the University of Paris X.[1][2]

Linkedin

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Charting Pan-African Development Priorities: AfDB Marks 60 Years

In the wake of African independence movements in the 1950s and 60s, the continent’s leaders were faced with two pressing issues: uniting Africa and financing Africa’s development. To this end, the pioneers of African freedom convened in Monrovia in 1961, and came up with two draft charters; one for the establishment of the OAU, and the other to establish the African Development Bank. A committee…

[ejesgistnews]

The Federal Government announced on Thursday, November 14, that it has secured a $134 million loan from the African Development Bank (AfDB). Chief Information Officer of the Ministry of Agriculture and Food Security, Anthonia Eremah, stated that the loan will be directed toward supporting farmers in enhancing seed and grain production nationwide. How Police Authorities Tried To shield Officer Who Raped Minor, Quickly Punished Female Officer For Exposing Randy Officer (Video) In a statement on Thursday, Eremah mentioned that the Minister made the announcement during the launch of the 2024/2025 National Dry Season Farming program in Calabar, the capital of Cross River State. The Minister highlighted that the loan will play a crucial role in ensuring food security across Nigeria, particularly through the re-introduction of the national dry season farming initiative. The project falls under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) initiative by the Ministry of Agriculture. Additionally, the program will provide assistance to 150,000 rice farmers in its second phase, covering all 37 states, including the FCT, with an anticipated yield of approximately 450,000 metric tonnes,” the Minister stated.

[gurutrends]

Nigeria Secures $134Million AfDB Loan To 'Support Farmers, Boost Production

This is contained in a statement released on Thursday, by Eremah Anthonia, Chief Information Officer at the Ministry of Agriculture and Food Security. The Federal Government of Nigeria has obtained a $134 million loan from the African Development Bank (AfDB) to accelerate agricultural production, with a primary focus on strengthening the seeds and grains sector. This is contained in a statement…

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Kenya Wind Power Market Insights and Growth Projections 2024 - 2032

The Kenya wind power market is rapidly evolving, positioning the country as a leader in renewable energy in Africa. With its favorable wind conditions and strategic investments, Kenya is harnessing wind power to diversify its energy sources, enhance energy security, and combat climate change. This article provides a comprehensive overview of the current landscape, market trends, challenges, and future prospects of the wind power market in Kenya.

Overview of the Kenya Wind Power Market

Definition and Importance

Wind power involves generating electricity through turbines that convert wind energy into electrical energy. In Kenya, wind power plays a vital role in the national energy strategy, contributing to the reduction of reliance on fossil fuels and promoting sustainable development.

Kenya’s Renewable Energy Goals

Kenya aims to achieve a target of 100% renewable energy generation by 2030. Wind power is a critical component of this strategy, with plans to expand the installed capacity significantly over the next decade.

Market Segmentation

By Technology Type

The Kenya wind power market can be categorized based on technology:

Onshore Wind Turbines: Most commonly used in Kenya, these turbines are installed on land and are suitable for the country’s diverse geographical terrain.

Offshore Wind Turbines: Although less developed in Kenya, offshore wind presents a potential avenue for future growth, particularly along the coastline.

By Project Stage

Projects in the Kenya wind power market can be segmented by their development stage:

Planning: Projects in the early stages of feasibility studies and regulatory approvals.

Construction: Projects currently under development or installation.

Operational: Established wind farms generating electricity.

By Capacity

Wind power projects in Kenya are classified by their capacity:

Small-scale (up to 50 MW)

Medium-scale (50 MW to 300 MW)

Large-scale (above 300 MW)

Key Market Trends

Increased Investment

The Kenya wind power market has seen a surge in investments from both local and international entities. Government incentives, favorable policies, and financial backing from multilateral organizations have created a conducive environment for growth.

Technological Advancements

Innovations in turbine technology, including larger and more efficient models, are enhancing the viability and profitability of wind power projects in Kenya. These advancements contribute to increased energy production and reduced costs.

Community Engagement and Sustainability

The importance of community engagement in renewable energy projects is growing. Wind power developers in Kenya are increasingly focusing on sustainable practices, ensuring that local communities benefit from the economic opportunities created by wind farms.

Major Players in the Kenya Wind Power Market

Leading Companies

Several key players are making significant contributions to the Kenya wind power landscape:

Kenya Power and Lighting Company (KPLC): The primary utility company in Kenya, responsible for electricity distribution and a significant player in wind power integration.

Lake Turkana Wind Power (LTWP): The largest wind farm in Africa, located in the Turkana region, with a capacity of 310 MW, representing a major milestone for the country's renewable energy ambitions.

African Development Bank (AfDB): Actively involved in financing and supporting wind power projects in Kenya, promoting sustainable development.

International Collaborations

Partnerships between Kenyan companies and international firms are critical for technology transfer, expertise sharing, and financing, helping to accelerate the growth of the wind power sector.

Challenges Facing the Kenya Wind Power Market

Regulatory and Policy Barriers

Navigating the regulatory landscape can be complex, with challenges related to land acquisition, environmental assessments, and obtaining necessary permits, which can delay project timelines.

Infrastructure Constraints

Kenya's energy infrastructure, including transmission and distribution networks, requires significant upgrades to accommodate new wind power projects and ensure efficient energy delivery.

Competition from Other Renewables

As Kenya expands its renewable energy portfolio, wind power faces competition from other sources such as solar and geothermal energy, necessitating continuous innovation and market adaptation.

Future Outlook

Growth Projections

The Kenya wind power market is expected to grow significantly, with forecasts indicating the potential for an increase in installed capacity to several hundred megawatts over the next decade. The government's commitment to renewable energy will drive this growth.

Technological Innovations

Ongoing advancements in wind turbine technology and energy storage solutions are anticipated, improving the efficiency and reliability of wind power generation in Kenya.

Regional Leadership

Kenya is poised to become a regional leader in wind power, setting a benchmark for other African nations to follow. Its successful wind projects can serve as models for sustainable energy development across the continent.

Conclusion

The Kenya wind power market is on the cusp of significant growth, backed by favorable wind resources, governmental support, and technological innovation. As the country aims to diversify its energy sources and meet ambitious renewable energy targets, wind power will play a crucial role in shaping a sustainable energy future. By overcoming regulatory challenges and enhancing infrastructure, Kenya can solidify its position as a leader in renewable energy in Africa and beyond.

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AfDB seeks a Chief Investment Officer in Abidjan! - October 2024

Calling all finance wizards! The African Development Bank (AfDB) is looking for a Chief Investment Officer to lead their investment teams in Côte d’Ivoire. This role is key to managing the Bank’s financial resources and assets. Responsibilities: Manage & invest the Bank’s money in different currencies. Develop & implement investment strategies. Analyze markets & assess risks. Build…

[agricjournalist]

Wheat Sector Transformation: A Tripartite Commitment for Sustainable Food Security in West and Central Africa

The Federal Government of Nigeria, the African Development Bank (AfDB), and the Food and Agriculture Organization (FAO) have joined forces to revolutionise the wheat sector in West and Central Africa. This ambitious partnership aims to address the region’s growing demand for wheat while promoting sustainable food security and economic growth. At the second regional wheat summit in Abuja, Dr.…

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AfDB Okays $500 Million fresh Loan For Nigeria

The African Development Bank Group has approved a loan of $500m to the Federal Government to finance the first phase of the Economic Governance and Energy Transition Support Programme. EGET-SP is an initiative aimed at accelerating the transformation of the country’s electricity infrastructure and improving access to cleaner sources of energy. A statement posted on the website of the bank on…

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Nigeria receives $500 million from AfDB for electricity infrastructure.

The African Development Bank Group’s Board of Directors sanctioned a $500 million loan to the Federal Government designed to fund the primary phase of the Economic Governance and Energy Transition Support Program (EGET-SP). The initiative is focused on hastening the overhaul of the nation’s electrical infrastructure and enhancing accessibility to greener energy sources.   The loan will help close…

[caalaadd]

African Development Bank celebrates 60 years of transformative impact in Ethiopia

Addis Ababa, November (FBC) – The African Development Bank (AfDB), in its grand ceremony held in Addis Ababa, commemorated the bank’s 60th anniversary, reflecting on six decades of driving transformative development across the continent. With Ethiopia playing a prominent role both historically and currently, the event underscored the profound impact of AfDB’s partnerships in fostering economic…

[ejesgistnews]

Dollar to Naira Exchange Rate Today Friday, October 4, 2024 - Black Market and CBN USD to NGN Exchange Rate can be accessed here on Ejes Gist News. What is 1 US Dollar to Naira Today Black Market & CBN?  As Many Nigerians continues to navigate economic challenges, the dollar-to-naira exchange rate remains a focal point for those engaged in foreign trade, investments, and travel. The black market, also known as the parallel market or Aboki FX, often reflects rates different from the official Central Bank of Nigeria (CBN) rates. Today, the exchange rates offer insight into the fluctuating value of the naira. Current Exchange 1 US Dollar to Naira Today. Dollar to Naira Black Market Exchange Rate (Parallel Market): Buying Rate: ₦1,695 Selling Rate: ₦1,705 1 US dollar to naira today CBN Official Rates: Buying Rate: ₦1,685 Selling Rate: ₦1,686 Pounds and Euro to Naira Exchange Rates Pounds to Naira (CBN Rates): Buying Rate: ₦2,180 Selling Rate: ₦2,185 Euro to Naira (Black Market Rates): Buying Rate: ₦1,850 Selling Rate: ₦1,856 1 US dollar to naira today for Online Exchange Platforms: Geegpay and Grey Geegpay Rates: EUR (€): Buying at ₦1,798.03, Selling at ₦1,800.55 GBP (£): Buying at ₦2,120, Selling at ₦2,127 USD ($): Buying at ₦1,675, Selling at ₦1,680 For Grey, the USD to NGN Exchange Rates are: EUR (€): Buying at ₦1,845.03, Selling at ₦1,850 GBP (£): Buying at ₦2,102, Selling at ₦2,205 USD ($): Buying at ₦1,670, Selling at ₦1,675 Understanding Dollar to Naira Black Market Exchange Rate. What is the Black Market? The black market is an unofficial exchange channel where currencies are traded without government regulation. Due to high demand and limited supply, this market often offers more competitive rates. Why Do People Use the Black MarketUSD to NGN Exchange Rate? Favorable Rates: Higher than official rates. Accessibility: Easier to obtain foreign currency without stringent regulatory requirements. Latest Forex news highlights in Nigeria for today, October 4, 2024: Here are some of the latest Forex news highlights in Nigeria for today, October 4, 2024: CBN introduces electronic matching system for FX transactions, to begin by December: The Central Bank of Nigeria (CBN) has announced the introduction of an electronic matching system for foreign exchange (FX) transactions. The system is expected to be operational by December 2024 and will be used to match buyers and sellers of FX, thereby improving transparency and efficiency in the market. Nigeria's crude oil production declines by 40,000 bpd as OPEC's output drops in September – Report: Nigeria's crude oil production has declined by 40,000 barrels per day (bpd) in September, according to a report by Reuters. This follows a drop in OPEC's overall output in the same month. The decline in Nigeria's production is attributed to a number of factors, including technical issues and theft. Italy targets windfall taxes amid budget deficit concerns, echoing Nigeria's recent bank levy: The Italian government has announced plans to introduce windfall taxes on banks and energy companies in order to raise revenue and reduce its budget deficit. This move echoes Nigeria's recent decision to impose a levy on banks in order to fund the country's development. Former Flutterwave employee in Kenya loses $900,000 appeal against fintech firm: A former employee of Flutterwave, a Nigerian fintech company, has lost an appeal against the firm in Kenya over a $900,000 claim. The employee had alleged that Flutterwave had failed to pay him bonuses and commissions. AfDB targets 120 million tonnes of food production by 2025: The African Development Bank (AfDB) has set a target of increasing food production in Africa to 120 million tonnes by 2025. The bank is investing $1 billion in agricultural projects in order to achieve this goal. Naira edges up against the Dollar, closes at N1,659.26 in I&E window: The Nigerian naira has appreciated slightly against the US dollar, closing at N1,659.

26 in the Investors and Exporters (I&E) window on October 4, 2024. This is the highest level the naira has reached in several months. All-Share Index drops by 1.19% despite gains in Seplat and other top advancers: The Nigerian Stock Exchange (NSE) All-Share Index declined by 1.19% on October 4, 2024, despite gains in some of the top advancers, such as Seplat Petroleum Development Company and Guaranty Trust Bank. New withholding tax regime to take effect from January 1st, 2025- FIRS: The Federal Inland Revenue Service (FIRS) has announced that a new withholding tax regime will take effect from January 1st, 2025. The new regime will increase the withholding tax rate for some types of income. Total Crypto market cap drops by 6% as liquidations hit $550 million: The total market capitalization of cryptocurrencies declined by 6% on October 4, 2024, as liquidations hit $550 million. Bitcoin, the largest cryptocurrency by market capitalization, fell by 4%. Phishing attacks and private key leaks resulted to $753 million crypto theft in Q3 -Report: A report by Chainalysis has revealed that phishing attacks and private key leaks were responsible for $753 million in cryptocurrency theft in the third quarter of 2024. NDDC Youth Internship Scheme Portal Link: Step-by-Step Guide to Apply & Secure Your Spot Davido Called Out For Smoking Next To His Wife, Chioma WhatsApp Threatens to Exit Nigeria Over FCCPC Demands, $270 Million Fine Thanks for using our platform to know the value of the 1 US Dollar to Naira Today for CBN and the black market USD to NGN Exchange Rate.

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Nigeria receives $500 million from AfDB for electricity infrastructure.

The African Development Bank Group’s Board of Directors sanctioned a $500 million loan to the Federal Government designed to fund the primary phase of the Economic Governance and Energy Transition Support Program (EGET-SP). The initiative is focused on hastening the overhaul of the nation’s electrical infrastructure and enhancing accessibility to greener energy sources.   The loan will help close…

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Nigeria receives $500 million from AfDB for electricity infrastructure.

The African Development Bank Group’s Board of Directors sanctioned a $500 million loan to the Federal Government designed to fund the primary phase of the Economic Governance and Energy Transition Support Program (EGET-SP). The initiative is focused on hastening the overhaul of the nation’s electrical infrastructure and enhancing accessibility to greener energy sources.   The loan will help close…