Tag: Finance

The Board of Directors of the African Development Fund has awarded a grant of $9.48 million to implement the Community and Ecosystem Resilience and Adaptation in the Wetlands of the Sahel Catchment Basins Project.  

The financial support comes from the Climate Action Window (https://apo-opa.co/4i6v3Hi) -- a climate change financing mechanism backed by the African Development Fund, the concessional lending window of the African Development Bank Group.  

The funding will address a range of climate and human-induced challenges affecting the Sahel's main river catchments. The Sahelian wetlands of the catchment basins in Burkina Faso, Mali, Niger and Senegal are subject to ongoing degradation due to unsustainable exploitation practices, ineffective management of natural resources and the low resilience of agro-sylvo-pastoral and fishery systems, aggravated by the effects of climate change. 

The first stage of the project aims to strengthen actions for the conservation and sustainable management of ecosystems in fragile zones, by conducting a study of the vulnerability of Sahelian ecosystems to climate change. This study will be carried out in the eight wetlands in the intervention area with the close involvement of local stakeholders. The priority green economy sites and activities resulting from this study will be supported to empower women's and youth groups.  

The second component promotes the equitable and sustainable management of water resources and the development of agroforestry and fisheries production by strengthening community capacities and local governance. 

The third component of the project aims to build the capacities of the Climate Commission for the Sahel Region (CCRS), improve local climate services and develop early warning systems for better anticipation of climate-related risks. 

The aim of the fourth component is to ensure the smooth coordination of the project by setting up and running a regional Project Management Unit (PMU), attached to the CCRS, as well as taking charge of the project's personnel, administrative accounting and financial management, and governance bodies through regular meetings of the regional steering committee, national and regional technical supervision, and coordination with institutional partners. It also aims to ensure realistic planning, rigorous monitoring of implementation, performance evaluation and capitalizing on best practices. 

In Burkina Faso, the project will operate in the Oubri and Kuilsé regions, covering two cross-border catchment basins (Volta and Niger). In Mali, the project will involve the Bougouni (Yanfolila) region, comprising six protected areas (two classified forests, one gallery forest/springhead, two wildlife reserves and one wetland). In Niger, it will be implemented in two wetlands classified as Ramsar sites (the Dallol Bosso and the Mare de Tabalak) which form part of the Niger basin. In Senegal, the project will be implemented in the Senegal River Biosphere Reserve, notably in the departments of Saint-Louis and Dagana.  

Media contact: 
Alexis Adélé
Communication and External Relations Department
media@afdb.org

About the African Development Bank Group: 
The African Development Bank Group is Africa's leading development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). Represented in 41 African countries, with a field office in Japan, the Bank contributes to the economic development and social progress of its 54 regional member states.

For further information: www.AfDB.org

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The African Development Bank Group (www.AfDB.org/) held a joint review of its project portfolio in the Republic of Equatorial Guinea in Malabo from 27 to 31 October.

An action plan to improve the portfolio's performance was approved at the end of the meeting. Stakeholders plan to set up a coordinated project monitoring system, establish rigorous mechanisms for monitoring contractual commitments and ensure compliance with financial obligations as part of an action plan to improve the portfolio's performance.

The workshop, which brought together ministerial representatives, technical partners and project management teams, provided an opportunity to assess the effectiveness of the Bank Group's interventions in the country and to chart the course for future investments aligned with the government of Equatorial Guinea's Agenda 2035.

The review covered various projects, including the Public Finance Modernization Support Programme (PAMFP), the Support for the Development of Value Chains in the Fisheries and Aquaculture Sector (PASPA) (https://apo-opa.co/3LDvTyV) and the Feasibility study project for Support for the Strengthening of the Digital Ecosystem (PARED) (https://apo-opa.co/4nWt6yo).

The joint portfolio analysis highlighted several obstacles to project effectiveness: slow start-up, delays in setting up management units and delays in the issuance of no-objection notices by the Bank Group. Added to this are the teams' limited technical capacities and their lack of knowledge of the pan-African institution's procedures for procurement, disbursement and financial management.

"The Bank is developing close management relations with project management units and stepping up capacity building through targeted training in fiduciary management and monitoring and evaluation," said Mouhamed Gueye, Divisional  Manager for Social Development and Human Capital for Central and North Africa, representing Léandre Bassolé, Director General of the Bank Group for Central Africa. "We are also maintaining close dialogue with partners to mobilize more co-financing under the 2026 lending programme and beyond," he added.

"This exercise had several objectives: to ensure that our actions are aligned with Agenda 2035, to review our project portfolio in detail, to identify shortcomings in their implementation and to assess their level of progress," explained Ladislao Ndong Ndong Bisó, Director General of Economic and Financial Organizations, representing Ivan Bacale Ebe Molina, Minister of Finance, Planning, Economic Development and the Budget. "The results will help define the direction and financing terms for future projects," he said.

Several complementary activities were organized following the workshop. In particular, a fiduciary clinic for project managers helped to strengthen their knowledge and understanding of the new accounting framework and the Bank's financial management rules and procedures. In addition, a €58.61 million loan agreement was signed between the Bank Group and Equatorial Guinea for the implementation of the Project to Strengthen Human Capital in Support of Economic and Social Inclusion (PARCH) (https://apo-opa.co/3K1xEFG). Finally, a field visit to the PASPA project allowed the Bank's delegation to note major progress in the construction of aquaculture infrastructure, which is scheduled for completion in the first quarter of 2026.

The Republic of Equatorial Guinea has been a member of the African Development Bank Group since 1975. The institution's first financing dates back to December 1978 for a cocoa tree regeneration project worth nearly $9 million. To date, Equatorial Guinea has benefited from 53 operations financed by the Bank Group, with a cumulative commitment of $337.30 million.

The Bank Group's active portfolio in Equatorial Guinea comprises six projects with a cumulative value of approximately $167 million. These investments are strategically distributed across several key sectors: social sector (42.2 percent), agriculture (38.6 percent), governance (18.5 percent) and communications, ICT and energy (0.7 percent).

Media contact:
Solange Kamuanga-Tossou
Department of Communications and External Relations African Development Bank
email: media@afdb.org

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The African Energy Chamber's G20 Africa Energy Investment Forum (https://EnergyChamber.org/) – taking place on November 21 in Johannesburg – will host two exclusive fireside chats that will unpack the future of Africa's oil and gas value chain, exploring how upstream growth, midstream diversification and downstream modernization can accelerate investment across the continent. At a time when African governments and companies are repositioning themselves for new exploration, refining upgrades and energy-transition aligned strategies, these dialogues will highlight the role of global partnerships in driving Africa's energy and climate goals.

Oando PLC has set a strong example for how independent oil and gas companies can position themselves at the helm of African energy diversification. By evolving from a trading and downstream company into one of sub-Saharan Africa's most competitive and integrated groups, the company is not only expanding its investments but unlocking the potential of the continent's oil and gas value chain. Recent developments reflect this approach. In 2024, the company acquired Eni's Nigerian Agip Oil Company in a move that widened its upstream portfolio. The company also launched Oando Mining – focusing on developing lithium and other critical minerals -, while reinforcing its downstream and marketing business.

These efforts reflect a commitment to a diversified energy portfolio, one that many independents can mirror across the continent. During the G20 Forum, Tinubu will participate in a fireside chat on Strategy, Growth and Expansion: From Upstream to Energy Diversification. The session will offer insight into the company's energy strategy, opportunities for African independents in Africa and the need to expand the continent's oil and gas value chain.

“Africa's oil and gas value chain is full of untapped potential, and companies like Oando are proving what is possible when African champions lead from the front. Oando's growth story shows that with the right capital and the right partnerships, African companies can drive transformative expansion across the entire value chain,” states NJ Ayuk, Executive Chairman, African Energy Chamber.

Meanwhile, the South African National Petroleum Company (SANPC) – the country's newly-formed state entity – has set its sights on accelerated project development, with a view to strengthening supply chains and enhancing fuel security. In addition to pursuing upstream projects, the SANPC has committed to transforming the country's midstream sector through the revival of strategic refining infrastructure. Lack of investments have long-plagued the country's refineries, leading to an over-reliance on imports that have made South Africa vulnerable to supply disruptions. However, the SANPC strives to turn this trend around. Key projects include the revitalization of the SAPREF refinery and reinstatement of the Gas-to-Liquids refinery. The company aims to bring the 180,000 barrel per day SAPREF facility back online following a closure in 2022, boosting capacity to between 400,000 bpd and 600,000 bpd in the long-run.

A fireside chat at the G20 Forum will unlock the role these infrastructure projects will play in the country's energy future. The discussion will feature the SANPC's CEO Godfrey Moagi, who is expected to share insight into strategies for strengthening the country's oil and gas supply chain. The discussions takes place under the theme Repositioning the National Champion: Refinery Modernization and De-Risking South Africa's Supply Chain, providing investors with exclusive insights into South Africa's midstream expansion strategy.

“South Africa's energy security hinges on strengthening its downstream infrastructure, modernizing refineries and building a supply chain that is resilient, competitive and future-ready. SANPC is positioned to play a pivotal national role, but unlocking this vision requires global finance, technology partnerships and strategic investors who are willing to back long-term refinery upgrades and fuel-security projects,” Ayuk added.

With global interest in Africa's energy markets rising and new policies across multiple countries seeking to accelerate upstream and downstream investment, the G20 Africa Energy Investment Forum's fireside chats promise to provide strategic clarity and actionable insight for investors, national companies and international financiers seeking to expand their footprint across the continent.

To register for the Forum click here (https://apo-opa.co/4pewDcs).