The African Development Bank Group (AfDB) has announced the postponement of the 2025 African Economic Conference (AEC), earlier scheduled to hold from Dec. 7 to Dec. 8.

The AfDB in a statement on its website said a new date for the conference jointly organised by the United Nations Development Programme (UNDP) would be communicated after confirmation.

According to the statement, the AEC remains one of the continent’s foremost platforms for economists, policymakers, academics and researchers to deliberate on Africa’s development challenges and opportunities.

Read Also: AfDB, Congo strengthen partnership for economic growth, integration

It said the conference had, since its inception in 2006, provided a strategic avenue for generating innovative and practical solutions through policy dialogue, research presentations and knowledge exchange among experts.

“We offer our sincere apologies for any inconvenience this change may cause all our stakeholders. A new date will be announced as soon as it is confirmed,” it said.

It encouraged participants, institutions and interested stakeholders seeking further information to contact the conference team via aec2025@afdb.org.

(NAN)

The African Development Bank Group (AfDB) and the Republic of Congo have reaffirmed their commitment to strengthening cooperation in economic diversification, infrastructure, energy, and regional integration, ahead of the Bank’s 2026 Annual Meetings to be held in Brazzaville.

A high-level AfDB delegation, led by Senior Vice President Marie-Laure Akin-Olugbade, visited Congo from October 26 to 28, 2025, to discuss strategic development priorities and review progress on key joint projects. The delegation met with President Denis Sassou Nguesso and senior government officials, emphasizing the strong partnership between the Bank and the Congolese government.

Talks centered on implementing Congo’s 2022–2026 National Development Plan, which focuses on economic transformation through diversification, energy expansion, and regional trade integration. The discussions also reviewed preparations for the AfDB Annual Meetings scheduled for May 2026 in Brazzaville.

During the visit, the delegation held meetings with Jean Jacques Bouya, Minister of State for Land Use Planning and Public Works, and Ludovic Ngatsé, Minister of Planning, Statistics, and Regional Integration. The team also toured the national data centre project in Brazzaville, financed by the AfDB, accompanied by Minister Ngatsé and Léon Juste Ibombo, Minister of Post, Telecommunications, and the Digital Economy.

Read Also: AfDB, Angola launch $125m project to boost youth entrepreneurship

Minister Ngatsé, who serves as the AfDB Governor for the Republic of Congo, described the visit as “a new stage in the exemplary partnership between the Republic of Congo and the African Development Bank.”

“We welcome the Bank’s continued support for our vision of economic diversification, agricultural transformation, and regional integration, which are central to Congo’s future prosperity,” he said.

AfDB Senior Vice President Akin-Olugbade praised Congo’s progress and reaffirmed the Bank’s commitment to supporting transformative projects.

“Our discussions focused on flagship initiatives in transport, energy, and agriculture, as well as regional programs that will strengthen economic integration and support the African Continental Free Trade Area, starting in Central Africa,” she stated.

Preparations for the 2026 Annual Meetings are being coordinated by a National Preparatory Committee led by Minister Bouya. A memorandum of understanding for hosting the meetings was signed in September 2025, a milestone that underscores Congo’s dedication to the event’s success.

The Annual Meetings are expected to spotlight Congo’s economic potential, infrastructure progress, and reform agenda, while positioning Brazzaville as a key destination for regional investment dialogue.

With an active portfolio of $223 million—focused on sovereign operations—the AfDB continues to support infrastructure and integration projects such as the Ndendé-Dolisie and Ketta-Djoum road corridors and the rollout of fibre-optic networks linking Congo with Cameroon and the Central African Republic.

The Bank is also advancing agricultural diversification through initiatives like the Integrated Agricultural Value Chain Development Project (PRODIVAC) and the expansion of Protected Agricultural Zones (ZAPs) to enhance food security, create jobs, and empower women and youth.

The African Development Bank (AfDB), in partnership with the Government of Angola and the European Union, has launched the $125 million Youth Employment Project (Crescer Project) to promote entrepreneurship, job creation, and skills development among young Angolans.

The initiative aims to create over 149,000 jobs — including 37,000 direct and 112,000 indirect — while supporting 10,400 micro, small, and medium enterprises (MSMEs) and 97 startups. It will also provide training in digital technology, agriculture, transport, and renewable energy, with at least 50% of beneficiaries being women.

The project will be financed through contributions from the AfDB ($79 million), the Angolan Government ($29 million), and the European Union ($16 million).

Read Also: AfDB commits $40m to drive AGIA green infrastructure fund

Speaking at the launch, Eugénio Maria Paulo, AfDB’s Executive Director for Angola, Mozambique, Namibia, and Zimbabwe, commended Angola’s commitment to empowering youth.

“By placing young people at the center of national development, the government is investing in Angola’s future,” he said.

Minister of Planning Victor Hugo Guilherme noted that the project aligns with the country’s “Angola Vision 2050” and “PDN 2023–2027” strategies, supporting national development and the UN Sustainable Development Goals (SDGs).

The Crescer Project will focus on three areas: skills development, business acceleration, and access to finance, while also strengthening public-private partnerships and institutional capacity.

This initiative complements ongoing AfDB-backed projects, including the Science and Technology Park, which is expected to be completed by November 2025 to drive innovation and economic diversification.

The African Development Bank currently manages 16 active projects in Angola, valued at $1.45 billion, spanning energy, water, agriculture, transport, and finance sectors.

The International Finance Corporation (IFC), the African Development Bank Group (AfDB), and partner organisations have appointed Inspired Evolution as the investment manager for Zafiri, a new decentralised renewable energy (DRE) equity investment platform aimed at accelerating electricity and clean cooking access for millions across Sub-Saharan Africa.

Zafiri is a central component of Mission 300, a joint initiative by the World Bank Group and AfDB to connect 300 million Africans to electricity by 2030. The new fund is designed to close Africa’s long-standing energy financing gap by channeling long-term equity into small and medium-sized DRE companies that are often overlooked by traditional financiers.

Zafiri’s founding partners include IFC, AfDB, The Rockefeller Foundation, Trade and Development Bank Group (TDB Group), and the Nordic Development Fund (NDF).

Closing Africa’s Energy Financing Gap

Inspired Evolution, the Cape Town-based investment firm appointed to manage Zafiri, has a proven record in renewable energy investment across Africa. Since its founding in 2007, the firm has financed over 10 GW of clean energy projects, supported 29 companies in 18 countries, and manages more than $850 million in investments.

“One of the key challenges slowing Africa’s energy transition is the lack of equity financing for distributed energy companies,” said Ethiopis Tafara, IFC Vice President for Africa. “Zafiri addresses this ‘missing middle’ by providing long-term equity to these providers, helping them scale and innovate. We’re proud to support this initiative, which will reach over 30 million people and create new jobs across the continent.”

Kevin Kariuki, AfDB Vice President for Power, Energy, Climate and Green Growth, added: “By combining AfDB’s Sustainable Energy Fund for Africa (SEFA) with IFC and partners, Zafiri will inject the risk capital needed to elevate the DRE sector to commercial maturity and expand access to millions living beyond the grid.”

A $1 Billion Push for Energy Access

Zafiri is structured as a permanent capital investment vehicle, providing stable, long-term financing to off-grid and decentralised energy companies. The fund leverages concessional junior equity to reduce investment risks and attract commercial capital.

Read Also: AfDB commits $40m to drive AGIA green infrastructure fund

With an initial $300 million in capital by 2026, Zafiri is expected to scale up to $1 billion, targeting more than 30 million new energy and clean cooking connections across Africa. Operations are set to begin in early 2026.

“We are honoured to partner with IFC, AfDB and other investors to manage Zafiri,” said Wayne Keast, Co-Founder and Managing Partner at Inspired Evolution. “Our focus will be on building high-impact businesses that deliver clean, affordable, and reliable energy while driving inclusive, climate-resilient growth.”

Global Partners Backing Africa’s Clean Energy Future

The Rockefeller Foundation, which has pledged $10 million to Zafiri, reaffirmed its commitment to accelerating energy access.

“Inspired Evolution’s proven track record makes it an ideal partner to drive equitable and sustainable energy access,” said Ghita Benabderrazik, Director of Innovative Finance at the Foundation.

TDB Group President Admassu Tadesse highlighted the importance of blending equity with debt solutions:

“By joining forces with our partners, we’re providing much-needed equity to small-scale DRE providers that catalyse sustainable community development.”

Satu Santala, Managing Director of NDF, also noted: “Zafiri enables the speed and scale required to meet Mission 300’s ambitious goals. Our capital will help attract significant commercial investment for climate action across Africa.”

With Zafiri’s launch, Africa takes a major step toward bridging its off-grid energy gap, empowering millions of households and businesses while driving the continent’s clean energy transition.

 The African Development Bank (AfDB) has committed 40 million dollars to the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD), anchoring the Fund’s first close of 118 million dollars.

AfDB Vice President for Private Sector, Infrastructure and Industrialisation, Mr Solomon Quaynor, made this announcement in a statement on Saturday.

Quaynor said the milestone marked a major step in mobilising blended finance to deliver investment-ready green infrastructure projects across the continent.

According to him, the initiative will help accelerate Africa’s transition to a low-carbon and climate-resilient economy.

“The AfDB’s contribution comprises 20 million dollars in grants, 10 million dollars in commercial equity, and 10 million dollars in junior equity from the Sustainable Energy Fund for Africa, which it administers,” he said.

He noted that the Bank’s support was designed to de-risk early-stage projects and attract private sector capital.

“Through the 40 million dollars package spanning grants, junior equity, and commercial equity, the AfDB is pioneering a comprehensive approach to unlock Africa’s vast green infrastructure potential.

“This investment is a bold declaration that the Bank stands ready to share early-stage risk alongside our partners, while mobilising billions in private-sector investment,” Quaynor added.

Africa50 CEO, Mr Alain Ebobissé, said the first close demonstrates AGIA’s shift from ambition to execution since its launch at COP27.

Read Also: AfDB secures N3.4trn for agro-industrial processing in Nigeria

“By unlocking early-stage capital, AGIA will accelerate the development of bankable projects, strengthen local capacity, and pave the way for a more sustainable and prosperous Africa,” he said.

UK Minister of State for Development, Ms. Jenny Chapman, said Britain’s contribution would support African-led solutions in vulnerable communities.

“We are partnering with countries to unlock private investment in the places hardest hit by climate change.

“This will support solar farms, water treatment plants, and other projects that help build stronger, climate-resilient economies,” Chapman said.

Christine de Barros Said, Head of Cooperation at the German Embassy in Maputo, said Germany, through its development bank KfW, was contributing 26 million euro to spur investment.

“AGIA identifies and develops projects until they reach creditworthiness, then sells them to investors.

“This generates vital investments in renewable energy, transport, water, and digitalization, sectors Africa urgently needs to foster growth and create jobs,” she explained.

President of the West African Development Bank (BOAD), Mr Serge Ekue, said his institution’s involvement reaffirmed its commitment to bridge the infrastructure gap in the region.

“BOAD’s commitment to supporting Africa50 in implementing AGIA underscores our dedication to closing Africa’s infrastructure gap and fostering private sector investment in innovative projects,” he said.

Mr Mark Gallogly, Co-founder of the Three Cairns Group, highlighted the challenge AGIA aimed to solve: “The lack of bankable projects remains a persistent barrier to scaling clean energy and climate-resilient infrastructure.

“AGIA’s first close marks a significant milestone in tackling the challenge,” Gallogly noted.

Ms. Georgia Keohane, CEO of the Soros Economic Development Fund, described AGIA as a vital Africa-led initiative.

“The Soros Economic Development Fund is proud to support AGIA, a critically important partnership catalysing transformative projects that enhance climate resilience and drive inclusive, sustainable development,” she said.

Jointly led by the AfDB, African Union Commission, and Africa50, the AGIA initiative aims to raise 500 million dollars to unlock a 10 billion dollars pipeline of infrastructure projects across energy, sustainable transport, water, and ICT sectors.

(NAN)

 Africa Development Bank (AfDB) and its partners have mobilised 2.2 billion dollars (about N3.4 trillion) to implement special agro-industrial processing zones in Nigeria.

Dr Akinwumi Adesina, the outgoing President of AfDB disclosed this in a paper presented at the 2025 Standard Chartered Bank Africa Summit recently held in Lagos.

In a copy of the presentation obtained by the News Agency of Nigeria (NAN), Akinwumi said the fund would be deployed to implement the phase two of the special agro-industrial processing zones covering 24 states.

He recalled that the bank and its partners had supported the launch of the special agro-industrial processing zones in the first eight States – Ogun, Oyo, Cross Rivers, Imo, Kaduna, Kwara, Kano and the Federal Capital Territory-.

Adesina, a former Minister of Agriculture and Food Security, said the initiative would revolutionise Nigeria’s agricultural sector by enhancing food security, boosting domestic production and creating thousands of employment.

According to him, investments are needed to unlock the agricultural potential in Nigeria and Africa in general, especially for value addition to agricultural commodities.

Read Also: Court orders NYSC to permit skirts for female corps members on religious grounds

To achieve that, he emphasised the need for the development of industrial platforms that would allow the continent to move up the agricultural value chains.

“The AfDB is investing massively in the development of Special Agro-industrial Processing Zones across Africa, enabled with infrastructure to support the establishment of industries to process and add value across a wide range of agricultural products.

“The bank has committed over 934 million dollar towards the development of the special agro-industrial processing zones.

“We have mobilised co-financing of 938 million dollar from partners, including the International Fund for Agricultural Development, the Islamic Development Bank, Japan International Cooperation Agency, and the West African Development Bank.

“We have also launched together with partners, the Alliance for Special Agro-Industrial Processing Zones to accelerate the development of these zones across Africa, with 3 billion dollar in commitments,’’ he said..

The AfDB President also disclosed that development of the special agro-industrial processing zones is ongoing in 27 sites across 11 countries in Africa.

(NAN)