The Board of Directors of the African Development Bank (ADB) Group, has approved a $175 million Trade Finance Funded Risk Participation Agreement facility between the African Development Bank and Trade & Development Bank (TDB). The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa. The Bank will provide liquidity of up to 50% (the other 50% to be matched by TDB), to Issuing Banks on a risk share basis, to support trade activities of local corporates and SMEs in member countries of the Common Market for Eastern…
Author: Newsdesk
Manchester United FC have agreed terms with Barcelona FC for Frenkie de Jong, the PA news agency reports. An initial fee of 75 million Euros rising to a potential 85 million Euros is believed to have been agreed with Barca, but there remains some way to go in the deal. De Jong is understood to be owed a substantial amount in deferred wages by cash-strapped Barcelona. The Dutchman will need convincing to leave the LaLiga giants. But United would surely not have pursued the 25-year-old all summer if they did not believe he was willing to move to Old Trafford.…
The International Fund for Agricultural Development (IFAD) Value Chain Development Programme (VCDP) on Friday began the distribution of agricultural inputs to 120 Taraba wet season rice and cassava farmers. Taraba state governor, Darius Ishaku while flagging of the event in Jalingo, lauded VCDP for its various result oriented interventions in rice and cassava production, processing and marketing in the state. Represented by the Permanent Secretary, Taraba Ministry of Agriculture and Natural Resources, Mr Yusufu Gadi, Ishaku urged the beneficiaries to put the inputs to maximum use to turn around their fortunes and enhance food security. Earlier in his welcome address,…
Goge Africa, a tourism and cultural media brand, says it is exploring African countries with the aim to proffer solutions to problems of intra-Africa travels, trade and investment. Its Managing Director, Nneka Isaac-Moses, in a statement on Friday in Lagos, said that top management team of the organisation recently visited Tanzania and Burundi in East Africa. She said this was a working visit occasioned by their quest for intra-Africa travel, investment and tourism promotion. According to her, the barriers that impede inter-connectivity and lack of intra-continental trade and investment must be removed for Africa to progress. She said it was observed…
Nigeria made a bright start to its campaign at the 2022 African Track Cycling Championship in Abuja by bagging three medals on the opening day of competition on Thursday in Abuja. The Championship, which kicked-off on July 14 at the Moshood Abiola National Stadium, in Abuja, is expected to end on July 24. The opening day of the Championship witnessed 10 finals out of which nine events were for the championship and one for ranking event. Nigeria opened the championship with three medals from three different events out of nine events that held on day one. Each country displayed wonderful performance…
A Federal Capital Territory High Court, Wuse Zone 2, Abuja, on Friday barred journalists from covering and witnessing the late gospel singer, Osinachi children’s testimony. The move was as a result of the court granting the three oral applications made by Aderonke Imana, the prosecution counsel, on June 22. The counsel filed the applications during the court hearing in the alleged culpable homicide case against Peter Nwachukwu, the late singer’s husband. The three oral applications made by Imana include: The first one was brought pursuant to the provision of sections 156 and 158 of the Child Rights Act. The application…
Malian authorities prevented the departure of eight German soldiers from the West African State, German defence ministry sources said on Friday. The Bundeswehr members were unable to board a flight on Thursday, which had been previously booked with a civilian airline. Malian authorities allegedly said there were difficulties with missing documents, according to the German ministry sources, who said the move was considered harassment. Earlier this week, the military government of Mali prompted outrage by having close to 50 soldiers from neighbouring Ivory Coast, who had been involved in the UN Mali mission, detained. Bamako suspended all transfers of international…
The Board of Directors of the African Development Bank Group, on July 14, 2022 in Abidjan, approved a $66.39 million support package for Guinea. The funding is intended to help it increase access to electricity.It consists of a $4.17 million grant and a $9.37 million loan from the African Development Fund (the concessional arm of the African Development Bank Group) and a $24.13 million grant and a $28.72 million loan from the Transition Support Facility. The project is co-financed by the French Development Agency, the Islamic Development Bank, the Sustainable Energy Fund for Africa, hosted by the Bank, USAID, through…
President Muhammadu Buhari has congratulated Nigeria’s Female Football team, the Super Falcons, for qualifying for the Women’s World Cup in Australia and New Zealand in 2023. Super Falcons’ qualification came after their emphatic quarter-final victory at the ongoing Women’s Africa Cup of Nations (WAFCON) when they triumphed 1-0 over Cameroon on Thursday night in Morocco. The president lauded the spirited performance of the team in the tournament and for maintaining its dominant posture as undisputed champions of the round-leather game and most successful international women’s football team in the continent. Having won the tournament twice in 2016 and 2018, under…
Some African envoys and citizens have said that the adoption of Kiswahili as the continent’s working language would facilitate the effective implementation of the African Continental Free Trade Agreement (AfCFTA) and cross-border trade. They made this known on Thursday, in Abuja at the inaugural commemoration of the World Kiswahili Language Day organised by the Tanzanian High Commission, Abuja. They commended the unanimous adoption of Kiswahili as the AU official language by African leaders, noting that it would strengthen integration and unity of the continent. Mr Pule Mphothwe, Bostwana’s High Commissioner to Nigeria, said that it called for celebration that Africa…