ARM-Harith Raises $76m for African Infrastructure Fund
A Pan-African infrastructure fund private equity firm, ARM-Harith Infrastructure Investments Limited, has raised approximately $76m in the first close of its climate transition successor fund aimed at mobilising institutional capital for infrastructure projects across Sub-Saharan Africa. The firm said the fund, which targets a final close of $200m, is Africa’s first integrated multi-currency blended finance […]
Africa Tax Revenue: AfDB Says $469bn Possible Without Hikes
Africa can unlock more than $469bn in additional annual revenue without raising statutory tax rates, according to the African Development Bank. Chief Economist and Vice President for Economic Governance and Knowledge Management at the African Development Bank, Prof Kevin Urama, said this in an interview with the News Agency of Nigeria on Wednesday in Abuja. […]
FG, AfDB Launch Aircraft Leasing Initiative for Nigerian Air
The Federal Government has moved to address the long-standing aircraft acquisition challenges facing Nigerian airlines with plans to partner the African Development Bank on a new national aircraft leasing initiative. Minister of Aviation and Aerospace Development, Festus Keyamo, unveiled the Nigeria Aircraft Leasing Company during a stakeholders’ meeting in Abuja on Tuesday, where he described […]
Keyamo appointed AfDB champion for Africa aviation reform
The African Development Bank has appointed Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, as the African champion for its newly unveiled Integrated Aviation Transformation Programme for Africa, a $7bn initiative aimed at repositioning the continent’s aviation industry. According to the letter of appointment obtained by our correspondent on Wednesday, the appointment follows what […]
Africa faces economic risks from global tensions
Africa’s economic growth could be reduced by up to 0.2 percentage points in 2026 due to the ongoing conflict in the Middle East, driven by higher energy costs, trade disruptions, and tighter financial conditions, Afreximbank has said. The warning was contained in a statement obtained on Friday, in which the bank said African economies remain […]
Firms pledge $100m for Africa’s electrification by 2030
The Rockefeller Foundation and the Global Energy Alliance for People and Planet have pledged more than $100m to support Mission 300, the initiative by the World Bank and African Development Bank aimed at connecting 300 million people in Africa to electricity by 2030. According to a statement by the partners, the funding, which began with […]
Access Bank pushes for smoother intra-African trade flows
The Group Managing Director and Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, issued a clarion call for urgent, collaborative action to dismantle the structural bottlenecks that continue to impede commerce across the continent. Addressing an assembly of policymakers, financiers, and business leaders, Mr Ogbonna emphasised that while Africa possesses immense market potential, its […]