The African Development Bank Group (www.AfDB.org) Vice President for Agriculture, Human and Social Development joined finance ministers and representatives from Comoros, Djibouti, Somalia and South Sudan for the signing agreement for a $35 million project to build resilience and responses to climate shocks. The signings took place on the sidelines of the Bank’s 2024 Annual Meetings in Nairobi.

The Bank’s Board of Directors approved the Multi-National Climate Disaster Risk Financing Project on 3 May 2024. Developed under the Bank’s Africa Disaster Risk Financing Programme (ADRiFi,) it will support the four countries to create an enabling environment for the adoption of climate risk financing instruments. It will also enhance uptake of pre-arranged climate and disaster risk financing instruments and strengthen adaptation and resilience of the targeted beneficiary countries against climate risks.

Union of the Comoros Finance Minister Mzé Abdou Mohamed Chanfiou, Djibouti Minister of Economy and Finance Ilyas Moussa Daweleh, Federal Government of Somalia Minister of Finance Bihi Iman Egeh and South Sudan’s Governor of the Central Bank Dr. James Alic Garang signed for their respective countries.  Vice President Dr. Beth Dunford signed on behalf of the Bank Group. The Bank Director General for East Africa Nnenna Nwabufo and the African Risk Capacity Chief Executive Officer Lesley Ndlovu also attended. The ARC is the implementing partner of the ADRiFi programme.

“The Comoros is regularly hit by floods. This has an impact on economic growth and the mobilisation of public resources, but at the same time, people have to be relieved of their burden and help with reconstruction, and all this requires a lot of resources,” said Comoros Finance Minister Chanfiou. “I would therefore like to thank our bank, the African Development Bank, for this initiative.”

Djibouti Minister of Economy and Finances Ilyas Moussa Daweleh said: “The climate is a fragile factor for this region, creating inter-ethnic conflicts and causing major migrations. We see 28,000 migrants a month going to the Gulf States. The capital Djibouti has the particularity of being a peninsula facing rising sea levels. That’s why we welcome the Bank’s approach. This insurance will be useful for livestock farmers in the event of the loss of their livestock.”

Dunford said, “Climate change is becoming one of the most serious threats affecting lives and livelihoods in Africa. The Horn of Africa and small island nations such as Comoros are vulnerable to climate-related risks. This often comes in the form highly variable and erratic rainfall patterns, along with rising temperatures, droughts, floods and tropical cyclones that have increased in frequency and intensity.”

The Africa Disaster Risk Financing Program Multi-Donor Trust Fund, which provides financing for the insurance premiums, bolsters disaster insurance protection for African countries to mitigate the negative impacts of climate-related extremes. Working in collaboration with the African Risk Capacity Ltd. the funds will support the Bank’s promotion of parametric insurance and other climate risk management instruments in Africa.

The ADRiFi Programme, established in 2018, is supporting 16 African countries with technical assistance and capacity building.  Participating countries also gain access to the Sovereign Risk Pool run by the African Risk Capacity. The Bank Group has invested more than $100 million in the beneficiary countries.

The programme has protected more than five million people against the risk of severe drought and tropical cyclones and enhanced anticipatory planning for climate disaster risks.

Across the Horn of Africa, more than 19.4 million people were affected by a drought that began in October 2020 and lasted through December 2022. At least 7 million livestock died across the region — more than 1.5 million in Kenya, between 2.1 million and 2.5 million in southern and south-eastern Ethiopia, and 3 million in Somalia. 

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Alphonso Van Marsh,
Principal Digital Content and Events Officer,
email: media@afdb.org

About the African Development Bank Group: 
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

In 2023, approvals for climate finance registered a substantial increase over the previous year, reaching $5.8 billion, representing 55% of total approvals; Bank achieves strong net income- UA 1,729.89 million.

Download document (1): https://apo-opa.co/3VtjUFB
Download document (2): https://apo-opa.co/3VblGel
Download document (3): https://apo-opa.co/3VblHyV

The African Development Bank Group released its Annual Report for 2023 on Wednesday, painting a picture of improved financial performance and robust support to its member countries across Africa.

The critical financial support has resulted in increased resilience and recovery despite the challenging effects of regional conflicts, economic shocks, climate change, and the after-effects of the Covid-19 pandemic.

In the face of stubbornly high inflation, public debt and associated financial vulnerabilities, African countries balanced efforts to spur growth and measures to contain the impact of rising cost of living on their citizens, earning commendation from Bank Group president Dr. Akinwumi Adesina.

“Our nations, our economies, and our people continue to show remarkable fortitude,” he noted in the report’s foreword. “Despite the overall economic slowdown, 15 countries posted output expansion of more than 5 percent and Africa retained its position as the fastest-growing economy after Asia with real GDP growth close to the global average of 3.2 percent.”

The Annual Report reports that Bank Group approvals for 2023 (UA 8.03 billion) were 30 percent higher than those for 2022 (UA 6.16 billion), and close to the highest approvals in the history of the Bank Group.

Approvals for sovereign operations – projects financed with the guarantee of a sovereign entity such as a national or sub-national government – in 2023 increased sharply by 43%, to reach UA 6.76 billion as the Bank provided  extensive sustainable finance to boost several African countries in their post Covid-19 recovery.

The Bank’s High 5 priorities: to Light Up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa all saw increased approvals in 2023, except “Feed Africa,” which showed a decrease. The positive decrease from the exceptionally high level in 2022, is a result of the newly created African Emergency Food Production Facility (https://apo-opa.co/3VqIFmH), set up to offset  disruption of food supplies across the continent due to Russia’s invasion of Ukraine.

The report records the impressive results of projects delivered across the High 5’s in 2023: 2.4 million people with access to new electricity connections; 11 million farmers used improved techniques including micro-irrigation, fertilizer, and climate-resilient seeds; over 440,000 enterprises had access to finance, and almost 233,000 of them are women-owned, 3.5 million people gained access to better transport services; and 9 million people had new or improved access to water and sanitation.

Bank maintains gender markers, pursuing innovative financing solutions to offset risk

The African Development Bank continued to categorize its approved sovereign operations using the Gender Marker System, which seeks to differentiate operations to focus on those that have a greater impact on reducing gender gaps.

In 2023 a record 100% of sovereign operations were categorized using the Gender Marker System, of which 58% contributed directly to women’s access to social services and skills.

The Bank showed innovation in safeguarding its ability to bear risk in carrying out its strategic development objectives while maintaining its AAA/aaa rating. In particular, guarantees for sovereign operations rose to UA 1.71 billion in 2023, the highest level since the Bank started offering these instruments in 2000.

Also in 2023, approvals for climate finance registered substantial increase over 2022, reaching UA 4.3 billion (USD 5.8 billion,) representing 55% of total approvals.

The African Development Bank Group experienced a significant increase in income in all its three entities reaching UA 1,729.89 million up from UA 774.79 million in December 2022. The increase was a result of heightened loan activities and favorable returns on treasury and other investments. Although, this was largely offset by higher borrowing expenses, the Bank achieved very strong net income of UA 406.05 million, close to double the UA 239.39 million in 2022.

The African Development Fund, the group’s concessional lending arm, saw the largest increase in income, totaling UA 332.82 million, up from UA 151.74 million in December 2022, marking its largest surplus (UA 115.27 million) in the past 20 years.

The Bank Group also demonstrated its capacity to deliver while prioritizing governance, reform, compliance and accountability. In 2023, it reached 95% completion of the implementation of its Integrated Quality Assurance Plan aimed at enhancing the quality of its operations to increase its development impact. The Annual Development Effectiveness 2023 Review reports that the Bank Group has continued to achieve significant results in its High 5 priority areas.

In another measure of its performance the ratings of the Bank’s senior debt (AAA/Aaa) were reaffirmed with a stable outlook by all four leading international rating agencies. “These high credit ratings reflect the Bank’s solid capital adequacy, robust risk management, prudent financial management, very high liquidity coverage, excellent funding record, preferred creditor status, and very strong shareholder support,” the report noted.

To learn more about the 2022 Annual report, click here

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
Amba Mpoke-Bigg
Communication and External Relations Department
email: media@afdb.org

About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 37 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

On the sidelines of its participation in GITEX AFRICA 2024 (www.GITEXAfrica.com), Epson held a press conference where it unveiled the results of recent research it conducted in Europe, the Middle East and Africa, highlighting the common challenges faced in the Education and Healthcare sectors due to inefficient and unsustainable printing technology.

To meet these challenges, Epson remains committed to providing increasingly innovative, efficient and sustainable printing solutions. The impact of printing on student learning and healthcare staff efficiency is crucial.

Students need printed materials for their learning, but it’s equally important that this printing is both efficient and environmentally friendly. This enables them to access quality educational resources while integrating responsible practices. Similarly, for healthcare staff, having efficient and sustainable printing solutions saves valuable time, which translates into greater efficiency in the delivery of care. This balance between operational efficiency and environmental sustainability in printing is the offering Epson brings to these two vital sectors to support both student learning and quality healthcare.

In the education sector, the vast majority of students (91%) in the MEA region (Turkey, Saudi Arabia, UAE, South Africa, Morocco, Tunisia, Egypt and Kenya) recognize that printed learning materials help them better understand and retain information. Despite this, they often feel conflicted because they fear that excessive printing is perceived as being harmful to the environment. Nonetheless, the study also showed that 89% of the same respondent students recognize that their learning would be improved if their educational institution had more sustainable printing solutions, such as Heat-Free inkjet printers, which consume less energy and produce less waste than laser printers.

In the health sector, workers in the MEA region lose 5850 hours each year, equating to 731 working days; due to slow or non-functional printers. This loss of time has a negative impact on patient care, leading to delays in updating patient records, booking appointments and sharing information. Healthcare workers are calling for action to improve printing technology and reduce interruptions.

92% of healthcare workers believe their IT department should provide faster, lower-maintenance printers to reduce the difficulties caused by printing interruptions.

Environmental concerns also come into play, with 83% of respondents agreeing that the environmental impact of unsustainable printers is a major concern for them personally.

“In both sectors, the use of Epson’s Heat-Free inkjet printing technology is presented as a sustainable solution. Heat-Free inkjet printers consume less energy than traditional laser printers, and require fewer moving parts and consumables. By switching to this technology, educational establishments and health services could not only improve their operational efficiency, but also help reduce their environmental impact. It would also meet students’ learning needs and improve patient outcomes, while reducing costs and increasing user satisfaction.” says Ilias Azzaoui, Epson General Manager – French-speaking Africa and DomCom.

Visitors can discover Epson solutions at stand 4C-40 in hall 4 of GITEX AFRICA, taking place from May 29 to 31, 2024.

Place Bab Jdid, Boulevard Al Yarmouk – Marrakech (opposite Mamounia Hotel).

Distributed by APO Group on behalf of GITEX Africa.

Media Contact: 
Siham Zouggarh
Email: siham.zouggarh@briocommunication.com
Tel. : +212 663552985

Join us to discover our latest innovations, and don’t miss our next exhibition!

Morocco
Facebook: https://apo-opa.co/3VqesnV
Instagram: https://apo-opa.co/3wZXUKa
LinkedIn: https://apo-opa.co/3VqBqev

Tunisia
Instagram: https://apo-opa.co/3VpHBzD

About Epson:
Epson is a global technology leader dedicated to co-creating sustainability and enriching communities by leveraging its efficient, compact, and precision technologies and digital technologies to connect people, things, and information. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson will become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.
Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of around JPY 1 trillion.
global.Epson.com/

Coursera (www.Coursera.org), a leading online learning platform, has partnered with the African Leadership University (ALU), the institution dedicated to shaping Africa’s future leaders with ethics, entrepreneurship, and solutions for the continent’s challenges, to enable learners from across Africa to access world-class education and equip them with the necessary skills to thrive in a digital economy.

Education in Africa faces significant challenges. Only about 9% of young people in Sub-Saharan Africa attend tertiary education (https://apo-opa.co/4bJI9WH), compared to the global average of 38%. Moreover, unemployment rates among African youth remain alarmingly high (https://apo-opa.co/3Rc2PP8). This highlights the urgent need for accessible, quality education and skill development to prepare Africa’s workforce for the future.

The Coursera and ALU partnership aims to address these challenges by democratizing education in Africa and promoting equitable learning. ALU’s experiential learning model will seamlessly integrate with Coursera’s technology, making education accessible continent-wide. This ensures access to high-quality courses while equipping learners with practical, job-relevant skills, empowering them for new job opportunities and the digital economy’s growth in the region.

“At ALU, our mission is to shape Africa’s future leaders, and partnerships like this with Coursera play a crucial role in addressing the significant challenges facing education in Africa. By expanding access to world-class education and ensuring that students have the necessary skills to solve some of the world’s most pressing challenges, we are not only helping them to thrive but also contributing to Africa’s growth and development,” said Veda Sunassee, CEO of African Leadership University.

To date, the partnership has achieved significant outcomes:

Over 1,500 students from across Africa have benefited.
More than 9,000 courses completed, accumulating over 16,000 enrollments and totaling 61,000 learner hours.
Top courses include:

Solving Problems with Creativity and Critical Thinking (IBM) (https://apo-opa.co/4bJZBKS)
Building Fintech Startups in Emerging Markets (University of Cape Town) (https://apo-opa.co/4bZtI17)
Innovation Through Design (The University of Sydney) (https://apo-opa.co/4bAnR1T)
Ready, Set, Future! Introduction to Futures Thinking (Institute for the Future) (https://apo-opa.co/3wZZ6gC)
Welcome to Game Theory (The University of Tokyo) (https://apo-opa.co/3yMgJRt)

These outcomes demonstrate that learners on the continent are seeking accessible, job-relevant education that can transform their lives and communities.

“At Coursera, we believe that talent is universal, but opportunities are not. Our partnership with ALU is a testament to our commitment to bridging this gap and providing learners in Africa with the skills they need to succeed in the digital economy,” said Kais Zribi, Coursera’s General Manager for the Middle East and Africa. “We are excited to see the incredible impact this collaboration is already having and look forward to expanding our efforts to reach even more learners across the continent.”

ALU not only focuses on theoretical learning but also emphasizes learning through real-world experiences. Over the past two years, Coursera has welcomed approximately 40 students and staff to its headquarters in Mountain View, California, as part of ALU’s Global Leadership program and the Coursera Innovation Bridge initiative led by the Coursera for Africa team. During their time there, participants had the opportunity to meet with Coursera team members and learn about the power of online learning to change lives. They engaged in workshops focused on design, creativity and critical thinking, and also networked with professionals, gaining valuable insights and inspiration for their future careers.

Distributed by APO Group on behalf of Coursera.

About ALU:
African Leadership University (ALU) provides higher education for a higher purpose. With a state-of-the-art campus in Kigali, Rwanda, and a college in Pamplemousses, Mauritius, ALU is helping train Africa’s leaders and visionaries of tomorrow, through a mix of mission-led study and work experience. Our students develop real-world skills to take on the world’s most pressing challenges. And they take ownership of their learning from day one through our peer and student-led approach – because ALU believes in the power and agency of young people to start shaping the future right now. Together with a world-class faculty and staff, our students are igniting a ripple of positive impact across Africa and the world. To date, 36% of ALU alumni have started 140 unique ventures, created more than 44,000 jobs, and raised almost US$6 million.

About Coursera:
Coursera was launched in 2012 by two Stanford Computer Science professors, Andrew Ng and Daphne Koller, with a mission to provide universal access to world-class learning. It is now one of the largest online learning platforms in the world, with 148 million registered learners as of March 31, 2024. Coursera partners with over 325 leading university and industry partners to offer a broad catalog of content and credentials, including courses, Specializations, Professional Certificates, Guided Projects, and bachelor’s and master’s degrees. Institutions around the world use Coursera to upskill and reskill their employees, citizens, and students in fields such as data science, technology, and business. Coursera became a Delaware public benefit corporation and a B Corp in February 2021.