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Buhari appoints Oyebode Oyetunde as Nigeria's ED at AfDB | The Guardian Nigeria News - Nigeria and World NewsNigeria — The Guardian Nigeria News – Nigeria and World News

President Muhammadu Buhari has approved the appointment of Dr Oyebode Oyetunde as Executive Director for Nigeria at the African Development Bank (AfDB) in Abidjan, Cote D’Ivoire.
Malam Garba Shehu, the President’s Senior Special Assistant on Media and Publicity, made this known in a statement in Abuja on Tuesday.
Before the appointment, Oyetunde was Senior Special Assistant to the President on Finance and Fiscal Policy as well as Legal Matters in the Office of the Chief of Staff to President.
He was also Special Adviser (Fiscal Policy) to the Minister of Finance, Budget and National Planning.
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The statement said: ”He is a Chartered Accountant and a fiscal policy tax expert with 24 years of experience in investment banking. ....

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AfDB funds $530m electricity project in Angola

The African Development Bank has committed $530m to finance the construction of a 343 km, 400 kV central-south transmission line that will connect the north and south transmission grids in Angola and allow for the distribution of clean energy between the two regions.
The finance package, approved in December 2019 by the Board of Directors of the African Development Bank, consists of $480m in financing from the Bank, along with $50m from the Africa Growing Together Fund, a $2bn facility sponsored by the People’s Bank of China and administered by the African Development Bank.
The north of Angola has a surplus of more than 1,000 MW of mostly renewable power, whereas the south relies on expensive diesel generators, supported by government subsidies. ....

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Africa's economic recovery from Covid-19 rests on digitalization — Quartz Africa

March 17, 2021
The African Development Bank (AfDB) is hoping that the digitalization of economies and companies in response to the coronavirus pandemic will help the continent recover quickly from its associated economic shocks. To this end, the finance institution is looking to establish investment banks to accelerate ventures by the continent’s young, tech savvy innovators.
Like much of the world, Covid-19 lockdowns in Africa prompted a migration to online platforms, forcing government employees to become more digitally literate, and sectors like telecom and banking to invest in systems to support remote working. The AfDB believes “an all-out effort to harness digital technologies” will boost productivity and employment. If it does, it could help abet a steep decline in economic performance for the region, and cushion the impact of hits taken by the oil, tourism, and mining-dependent countries. ....

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Togo should record a growth of 4.3% in 2021, according to the AfDB

Economic governance
Wednesday, 17 March 2021 13:36
(Togo First) - The African Development Bank (AfDB) recently published its 2021 Africa economic outlook report. Titled
“From Debt Resolution to Growth: the Road Ahead for Africa,” the 200-page document dives into the issue of debt and assesses the performances of African economies amid the ongoing pandemic.
Togo, according to the report’s authors, should record a rapid economic recovery. They state that as the pandemic weakens and the economy recovers, the country’s growth was forecast at 4.3% and 5.6% in 2021 and 2022 respectively. This performance should be driven by agriculture, and increasing investments in transport, energy, and industries. ....

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Africa set for growth with rising poverty, debt in 2021

A total of 465 million people in Africa could be affected by extreme poverty, one-third of the continent's population, in a setback after two decades of steady reductions ....

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