AFDB Increases Capital from $93bn to $115bn, Greatest in its history
The African Development Bank will massively increase the size of its funding programme in the coming years, after approving the largest capital increase in its history.
At a meeting recently, the governors of the AfDB, representing shareholders from more than 80 countries, has approved to increase its working capital from $93 billion to $115 billion to enhance its capacity.
The capital increase is the bank’s first in nine years and is its biggest, taking its capital from $93bn to $208bn.
The bank’s president, Akinwunmi Adesina who announced the development earlier on recently, said it was a the highest in the bank’s history.
According to him, the increase is a big step forward, “a great day Africa.”
In addition, Adesina stated that, “Today Governors of the African Development Bank approved a capital increase of $115 Billion, moving Bank’s capital from $93 Billion to $208 Billion! It’s the highest in the history of the Bank since 1964. Thanks to all shareholders for your huge support.”
Related Posts
WIOCC secures $65m sustainability-linked financing to boost Africa’s digital infrastructure
WIOCC Group, Africa’s foremost open-access digital infrastructure provider, has successfully raised an additional $65 million in sustainability-linked debt…
By
PZ Cussons abandons Africa sell-off, bets big on Nigeria and continent’s growth
PZ Cussons Plc has dramatically reversed course, scrapping plans to divest its African subsidiaries and instead unveiling an…
Kenya overtakes Nigeria as Africa’s fastest-growing private-sector economy
Kenya has seized the crown as Africa’s fastest-expanding private-sector economy, ending Nigeria’s long dominance, according to the latest…
Greenwich Holdings appoints Samson Ariyibi as Group MD
Greenwich Holdings Limited (GHL) has appointed Mr. Samson Oyewale Ariyibi as its first Group Managing Director/Chief Executive Officer,…
Gallery
