On Tuesday the 2nd of December, the programme brought together over 100 senior stakeholders from government, development partners, development finance institutions and the private sector, to reflect on the last six successful years of UKNIAF work and celebrate the close-out for this phase of UK government support.

Since its inception, UKNIAF has provided targeted technical assistance and advisory support to Federal and State institutions across the Power, Infrastructure Finance and Roads sectors, helping to embed evidence-based reforms and data-driven decision-making.

Through its work, the programme enabled significant finance to be mobilised and supported sector transformation in sub-national markets. It strengthened key institutions, creating a more investor-ready environment for infrastructure.

Plenary and panel sessions during the event featured senior representatives of participating ministries, departments and agencies, development partners and private actors.

These discussions highlighted how institutional capacity had evolved, where reforms had taken root, and what was required to sustain momentum.

Participants emphasised the significant contributions of the programme towards supporting economic growth and improving livelihoods. In the Power sector, UKNIAF’s success was underscored in the adoption of landmark policies, enhancing regulatory capabilities and creating new markets.

Examples included the development of the country’s first Integrated Resource Plan which charts a least cost, low carbon pathway for power sector expansion; designing advanced data capabilities at the Nigerian Electricity Regulatory Commission (NERC) to monitor and manage tariffs, grid flows and outages in real time.

And, enabling states to create their own electricity markets to meet their own needs and capitalise on their resources.

In the Infrastructure sector, participants welcomed UKNIAFs efforts to improve the planning, financing and delivery of bankable projects. Key examples included the mobilisation of $75m of financing from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme, through the provision of project preparation services to two states; accelerating sustainable mini-grids and solar plants by supporting the Rural Electrification Agency (REA) adopt new project models and technical standards. And, helping to build Nigeria’s bankable project pipeline through the design of a new project preparation facility, with ₦21billion allocated in both of the 2024 and 2025 budgets respectively for its operationalisation.

Frank Edozie, UKNIAF team lead, said:

“UKNIAF’s close-out was not an end point, but a handover for sustained delivery. For over six years, we helped strengthen institutions with tools that make Nigeria’s infrastructure landscape more transparent, climate-smart and attractive to investors, and this legacy now sits with our partners to sustain and grow.”

According to Adebayo Adelabu, the minister of Power,

“The technical assistance, capacity development, and advisory services provided under UKNIAF have laid a firmer foundation for the sustainable and inclusive electricity supply industry we are building in our nation today.”

Cynthia Rowe, head of Development Corporation for UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, added:

‘’I take great pride in the achievements of the United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF) and the strong partnership between the UK and Nigeria. Together, we have achieved milestones that once seemed far out of reach. From supporting pioneering states to take control of their electricity markets, to unlocking $75m in financing with project preparation assistance and designing Nigeria’s Climate Change Fund to attract global climate investment. Our shared success has shown what is possible’’.

Prof. Chidiebere Onyia, secretary to the State Government, Enugu State, said:

“The impact of UKNIAF is also reflected in the quality of ambassadors that have transferred the knowledge and experience from the programme into the subnational and national infrastructure delivery process leading to impact and irreversibility. UKNIAF is maybe ending as a programme, but UKNIAF’s legacy in supporting senior decision makers lives on.”

The event delivered renewed commitments from partners to sustain tools and reforms, and the dissemination and handover of knowledge products and programme outputs.

It also reinforced relationships among public, private, and development actors and deepened understanding of the roles that public and private sector players can continue to play in Nigeria’s infrastructure landscape.

Participants included beneficiary clients and donor partners such as the Nigeria Governors’ Forum, the Federal Ministry of Power, the Ministry of Finance, the Nigerian Electricity Regulatory Commission, the Rural Electrification Agency, the Transmission Company of Nigeria, key state governments and other agencies.

They were joined by donor partners and Development Finance Institutions (DFI), including the African Development Bank, World Bank, International Finance Corporation (IFC), and others, alongside private sector and civil society organisations active in Nigeria’s infrastructure and energy ecosystems.

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Mr. Amray made this remark during his keynote address at the Gold Roadshow Africa, held on November 7, 2025, which brought together central bankers, policymakers, and institutional investors to explore Africa’s growing role in the global gold value chain.

In his presentation, titled “The Bridge Between Trust, Value and Financial Sovereignty for Africa,” Mr. Amray highlighted that the recent rally, which saw gold cross the $4,300 mark for the first time in history, reflects a broader global shift in trust, capital, and power.

“For years, gold was seen as a metal of beauty,” he said. “Today, it stands as a metal of strategy, politically neutral, instantly liquid, and a firewall against inflation and currency depreciation.”

He stated that Africa produces over 40% of the world’s gold but captures less than 2% of its financial value, calling for a stronger focus on domestic value addition.

“We export raw and import finished wealth,” Mr. Amray noted. He commended ongoing local initiatives by Kian Smith Gold Refinery as important steps toward sustainable value capture and industrial growth.

Following his keynote, Mr. Amray joined a high-level dialogue with Bolaji Balogun, Founder and CEO of Chapel Hill Denham, moderated by Bode Oyetunde of the African Development Bank (AfDB).

The discussion focused on the policy, infrastructure, and investment frameworks needed to integrate gold into Nigeria’s financial system.

The Gold Roadshow Africa concluded with a shared commitment among participants to strengthen policy alignment, promote private sector investment, and advance local processing to drive inclusive and sustainable growth across the continent’s gold value chain.

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• The project supports the development and financing of bioethanol production and distribution infrastructure in Madagascar
• The initiative will reduce the intensive deforestation in Madagascar which is partly caused by the use of cooking fuel such as charcoal and wood
• The Letter of Intent is expected to limit reliance on harmful fuels that have a devastating impact on climate and public health – women and children are most at risk

Africa50, the African Development Bank (AfDB), the OPEC Fund for International Development and the Government of Madagascar have signed a Letter of Intent (LoI) to scale up the production capacity of bioethanol in Madagascar – a major step towards making clean and safe cooking a reality for millions of people across the country.

The announcement was made in Antananarivo on the sidelines of Africa50’s General Shareholders Meeting (GSM) with signatories including Hon. Olivier Jean Baptiste, Minister of Energy and Hydrocarbons of Madagascar; Khaled Al-Zayer, OPEC Fund Public Sector Director, East and Southern Africa; Alain Ebobissé, CEO, Africa50; and Kevin Kariuki, Vice President, Power, Energy, Climate and Green Growth, African Development Bank (AfDB).

The partners intend to support the uptake of bio-ethanol in Madagascar through the construction and improvement of production infrastructure and the strengthening of supply chains to increase downstream distribution capacity and facilitate accessibility and availability for consumers. The program aims to rapidly increase access to clean cooking in remote and underserved areas and reduce dependence on highly polluting cooking fuels which have a severe impact on health, gender and climate.

It is estimated that 99 percent of Madagascar’s population rely on charcoal and wood for cooking, which contributes to rapid deforestation in the country.

The World Health Organization (WHO) reports that indoor pollution, which is largely caused by cooking using harmful fuels, is the second leading cause of premature death in sub-Saharan Africa, responsible for c. 700,000 deaths annually – primarily among women and children under 5.

Africa50 intends to act as the lead developer for the production infrastructure, while AfDB and OPEC Fund intend to provide technical and financial assistance to the Government of Madagascar which will help implement the project.

The LoI forms part of broader efforts by Africa50 and AfDB to mobilize innovative finance to support the energy transition in Africa.

Olivier Jean Baptiste, Minister of Energy and Hydrocarbons of Madagascar, said:

“The widespread use of harmful fuel in Madagascar is a practice that impacts negatively on health, gender and climate in Madagascar. As part of our mandate to develop critical infrastructure for our citizens, we are proud to be part of this partnership which will move the dial on access to clean cooking fuel in Madagascar”.

Khaled Al-Zayer, OPEC Fund Public Sector Director, East and Southern Africa, said:

“Supporting clean cooking is one of the key elements of the OPEC Fund’s climate action as it involves many crucial aspects of sustainable development. Introducing clean, efficient and affordable appliances makes substantial contributions to improving public health, reducing adverse environmental impacts and facilitating women empowerment”.

Alain Ebobissé, CEO, of Africa50, said:

“Africa50 is committed to increasing access to clean cooking fuel in Africa by joining forces with like-minded partners to scale up investment in bio-ethanol related infrastructure. We are pleased to be part of this partnership with the Government of Madagascar as part of broader efforts to develop critical infrastructure in the country that will limit deforestation and climate change while improving livelihoods”.

Kevin Kariuki, Vice-President: Power, Energy, Climate & Green Growth, African Development Bank, said:

“This is an important step for increasing access to clean cooking fuel in Madagascar. Developing critical infrastructure that saves lives and positively impacts climate is a key part of our investment strategy at the AfDB, and we are delighted to partner with Africa50, the OPEC Fund, and the Government of Madagascar to advance clean cooking in the country”.

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Dr. Akinwumi Adesina, the President of the African Development Bank, gave a compelling keynote address. His insights shed light on the programme’s theme “Fintech: Resilience, Innovation, & Diversification” in the fintech industry, not only in Nigeria but across the entire African continent and the global fintech arena.

Nigeria Fintech Week has evolved into a pioneering event for financial sector leaders, not just within Nigeria but on a global scale. It serves as a platform for dialogue and collaboration between industry leaders, offering a unique opportunity to explore the latest trends and developments in fintech.

“The theme for this year’s Fintech Week, ‘Resilience, Innovation, and Diversification,’ resonates particularly with the current global economic landscape,” Adesina said speaking through Lamin Barrow, the Director General of Nigeria, African Development Bank (AfDB).

“Fintech companies are grappling with the need to adapt to rapidly changing conditions, particularly in the wake of global economic downturns characterized by volatility and heightened uncertainties. These challenges are particularly evident in Nigeria and other African nations, with manifestations in macroeconomic instability, rapid forex depreciation, and rising inflation. Consequently, Africa’s GDP growth has seen a decline, estimated at 2.8% in 2022, down from 4.8% in 2021.”

In light of these challenges, the need for resilience through innovation and product diversification has never been more urgent. The fintech sector in Africa plays a major role in building this resilience by driving financial inclusion across the continent. “Recent studies indicate that 33% of adults in sub-Saharan Africa have mobile money accounts, the largest of any region globally.”

Mobile Money Revolution

Speaking further, Dr. Akinwumi Adesina noted that the 2022 GSMA report highlights that Africa now accounts for 621 billion registered mobile money accounts, representing 46% of the global total and approximately 70% of the world’s $1 trillion mobile money transactions in 2021. The spread of mobile money accounts has opened doors to better serve underserved populations traditionally excluded from the formal financial system.

“The COVID-19 pandemic underscored the significant role digital technologies can play in managing shocks. Continents with advanced digital financial service ecosystems were able to scale up emergency cash transfer programs, demonstrating the resilience of fintech in addressing critical societal needs.”

Fintech Beyond Banking

African fintechs extend their impact well beyond banking and payments. From healthtech solutions that make healthcare accessible with just a click, to agritech platforms connecting farms to markets and providing real-time weather forecasts, and affordable education services, innovation is driving inclusion and addressing various societal needs.

Global Investor Attraction

African fintechs’ capacity to innovate has attracted global investors. “Reports from Disrupt Africa and the International Finance Corporation reveal that there were 26 reported fintech acquisitions in Africa between June 2021 and July 2022. In 2021, 63% of tech funding in the continent, amounting to $2.7 billion, went to the fintech industry,” Dr. Akinwumi Adesina highlighted.

Nigeria’s Growth Potential

As the hub of the African fintech industry, Nigeria has seen the emergence of five of the 11 digital companies that have reached unicorn status. To witness significant growth in the fintech industry, Nigeria must further integrate technology into business activities. This necessitates domesticating the Startup Act and implementing regulatory reforms to simplify procedures for cross-border trade transactions, enhance access to finance for startups, and accelerate SME integration in e-commerce.

The African Development Bank’s Commitment

The African Development Bank strongly believes that a resilient, innovative, and diversified fintech sector is key to accelerating economic transformation in the continent. The bank is actively supporting African countries in bridging digital infrastructure and knowledge gaps, creating a conducive business environment to promote entrepreneurship and innovation in the fintech industry, and upskilling the youth to prepare them for the jobs of the future.

Since 2012, the African Development Bank has invested approximately $2 billion in 40 innovation and ICT projects across the continent. Notably, this includes $170 million in financing for the investment in digital and creative enterprises projects in Nigeria, a significant component of which is the establishment of venture capital funds to support startups in the digital creative industries.

Dr. Akinwumi Adesina’s keynote address at NFW Day 1 emphasized the key role that fintech plays in Africa’s economic development. In fostering resilience, innovation, and diversification, the fintech industry addresses economic challenges and also provides innovative solutions to improve the quality of life for people across the continent. 

The African Development Bank’s commitment to this sector further emphasizes the transformative potential of fintech in Africa. 

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This is a significant achievement for the Bank’s Coding for Employment program and its expanding partnerships with higher education, technical and vocational education, and training institutions.

On February 1, representatives from Kenya’s Office of the President were joined by officials from the United States International University-Africa and the African Development Bank Group for the opening ceremony.

“This Center of Excellence is just one example of the Bank’s commitment to supporting the next generation of African leaders, entrepreneurs, and innovators.”

“By working together to provide young people with the tools and resources they need to succeed, we are all helping to create a more prosperous and inclusive future for all,” said Hendrina Doroba, the Bank’s Division Manager for Education and Skills Development, speaking on behalf of the Bank’s Director General for Eastern Africa, Nnenna Nwabufo.

“The future will be shaped by technology, and it is our responsibility to prepare our young people for the challenges that lie ahead,” she added.

The African Development Bank’s Coding for Employment program is developing the capacity of African youth by equipping them with practical 21st century skills, as well as employability and entrepreneurship skills, to increase their competitiveness in local and global labor markets. The program is funded through a partnership between the Bank and the Rockefeller Foundation.

Technical partners Junior Achievement Kenya and Microsoft joined the Bank and Rockefeller Foundation collaboration to establish this second center in Kenya. These centers are open to youth aged 15–35 who have enrolled in the Coding for Employment program and do not qualify for or have the means to attend traditional university programs. Coding for Employment and its partners aim to reach over 1,800 Kenyan youth through the two centers.

“The United States International University-Africa is excited to partner with the African Development Bank in this initiative because it perfectly aligns with the university’s strategic plan that aims to educate our young people for complex global challenges and be the changemakers in Africa,” said the university’s vice chancellor, Professor Margee Ensign.

Coding for Employment program beneficiaries has access to demand-driven digital skills, entrepreneurship, and soft skills curricula to boost their employability in information and communications technology or tech-enabled sectors. The university center is equipped with 40 computers, printers, desks, ergonomic office chairs, an equipped conference room, and projectors.

“The disproportionate barriers to technology access and lack of relevant skills in the technology sector contribute to the continent’s soaring unemployment rate. Therefore, digital skills are a critical factor in making young people more employable in the current economy and our aim is to teach them to be different and disruptive,” said John Wali, Executive Director, Junior Achievement Kenya.

Ceremony keynote speaker Mukhtar Abdi Ogle, Secretary for Strategic Initiatives in the Office of the President of the Republic of Kenya, encouraged youth to have a growth mindset and join the government in its effort to upskill the youth with globally competitive digital skills towards decent and productive employment.

Coding for Employment opened the first Kenyan Center of Excellence at the University of Nairobi in March 2022. Overall, online and in-person Coding for Employment programs has reached 152,000 youth across the continent.

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The Bank, in collaboration with the implementing lead Private Equity Support and partner organizations Eldohub and the Private Finance Advisory Network, announced the 25 finalists for the AfDB AgriPitch Competition that will award $140,000 in grants and business skills training.

The 25 finalists include 17 women-owned or led small and medium enterprises. Thirteen are from Francophone countries, while the other 12 are from Anglophone countries.

The AgriPitch Competition targets African youth aged 18 to 35 years working in the agricultural value chain. The 25 finalists will receive training to build business skill capacity with the requisite tools and knowledge to bolster their investor readiness, financial management, and help them pitch bankable business proposals.

“These young agripreneurs show great potential and are a testament to the level of innovation that exists across Africa. The Bank’s support, through the AgriPitch Competition, will boost the bankability of these projects and provide a tangible step towards enhancing agribusiness and food security on the continent,” said Edson Mpyisi, the Bank’s Chief Financial Economist and ENABLE Youth Coordinator.

The Competition received over 1,000 applications from African “agripreneurs,” including around 250 entries from women-owned or led small and medium enterprises. 

“It’s reassuring to see and evaluate hundreds of great potential investment opportunities from across the region,” said Diana Gichaga, Managing Partner at Private Equity Support. “It reaffirms the crucial role that the agricultural sector plays in the African economy and the continued efforts to bring these initiatives to the fore through platforms such as the AgriPitch Competition,” she added.

The AgriPitch Competition is a central and recurring activity of the African Development Bank’s ENABLE Youth Program, sponsored by the Youth Entrepreneurship and Innovation Trust Fund of the Bank. 

The 2022 edition will award three start-up categories: Early start-ups (0-3 years of operation), Mature start-ups (3 or more years in operation) and Women-empowered businesses (firms with at least 51% share of women ownership or founded by a woman). 

The finalists will pitch their business plans to potential investors in the AgriPitch deal room and be eligible for one-on-one mentorship as well as access to post-competition digital expertise.

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The Africa Industrialization Index (AII) report provides a country-level assessment of 52 African countries’ progress across 19 key indicators. The report will enable African governments to identify comparator countries to benchmark their own industrial performance and identify best practices more effectively.

The African Development Bank, the African Union and UNIDO jointly launched the inaugural edition of the AII on the sidelines of the African Union Summit on Industrialization and Economic Diversification in Niamey, Niger.  

Scoring industrialization across a range of metrics 

The Index’s 19 indicators cover manufacturing performance, capital, labour, business environment, infrastructure, and macroeconomic stability. The index also ranks African countries’ industrialization across three dimensions: performance, direct determinants and indirect determinants. 

Direct determinants include such endowments as capital and labour and how these are deployed to drive industrial development. Indirect determinants include enabling environmental conditions such as macroeconomic stability, sound institutions and infrastructure.

South Africa maintained a very high ranking throughout the 2010-2021 period, followed closely by Morocco, which held second place as of 2022. Rounding out the top six over the period are Egypt, Tunisia, Mauritius, and Eswatini.

Abdu Mukhtar, African Development Bank Director for Industrial and Trade Development, represented the institution at the launch event.  He said that while Africa had shown encouraging progress in industrialization over the 2010-2022 period, the Covid-19 pandemic and Russia’s invasion of Ukraine had set back its efforts and highlighted gaps in production systems. “The continent has a unique opportunity to sort out this dependency by further integrating and conquering its own emerging markets.”

He added: “The African Continental Free Trade Area is creating a once-in-a-lifetime single market opportunity of 1.3 billion people and total aggregate consumer and business spending of up to $4 trillion creates an opportunity to enhance their trade and production linkages and finally reap industrial competitiveness from regional integration as other regions have done.” 

The African Development Bank has invested up to $8 billion over the past 5 years under its Industrialize Africa High-5 priority. “In the pharma sector alone, we intend to spend at least $3 billion by 2030,” Mukhtar said. 

Building productive industry will be integral to Africa’s development, offering a path to accelerated structural transformation, creating formal jobs at scale and inclusive growth. However, Africa’s share of global manufacturing has declined to the current level of less than 2%. More proactive industrial policies are seen as critical to reversing the trend, but these are knowledge-intensive and require a detailed understanding of the constraints and opportunities that each country faces.

Manufacturing value-added more important than size of economy

Among the report’s other key findings:

• During the coverage period,  Djibouti, Benin, Mozambique, Senegal, Ethiopia, Guinea Rwanda, Tanzania, Ghana, and Uganda all improved by five or more places in the rankings;
• The top performers are not necessarily those with the biggest economies, but those countries that generate high manufacturing value-added per capita, with a substantial proportion of manufacturing goods bound for export;
• North Africa remains the most advanced African region in industrial development, followed by Southern Africa, Central Africa, West Africa and East Africa.

Synergies with the African Industry Observatory

The Africa Industrialization Index was one of two new tools presented during the event. The second—and complementary— African Industry Observatory, unveiled by UNIDO and the African Union, will serve as a central online knowledge platform to collect, analyze and consolidate the quantitative data needed for qualitative analyses of national, regional and pan-continental industry trends, forecasts and comparisons.  

Chiza Charles Chiumya, the African Union Commission’s Acting Director for Industry, Minerals,  Entrepreneurship & Tourism, said, “These tools are going to greatly enhance our industrial policymaking as well as help to bring in the required focus that industrialization needs both from policymakers as well as the private sector, who will now clearly see where the continent has opportunities.”  Chiumya was representing AU Commissioner for Trade and Industry Albert Muchanga.

“The African Industry Observatory and the Africa Industrialization Index will help consolidate cross-institutional cooperation, strengthen each institution’s policy dialogue influence for accelerating industrial development and an enhanced knowledge of industrial development dynamics,” said Victor Djemba, Chief of UNIDO’s Africa division.

The African Union Extraordinary Summit on Industrialization and Economic Diversification and  African Union Extraordinary Session on the African Continental Free Trade Area are currently taking place in Niamey, Niger, through 25 November 2022. The  Summit’s theme is: Industrializing Africa: Renewed Commitment towards Inclusive and Sustainable Industrialization and Economic Diversification.

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The AUC Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Ambassador Albert M. Muchanga, and the African Development Bank’s Deputy Director General for the East Africa Region, Abul B. Kamara, signed the agreement on behalf of their institutions.

The African Development Bank’s board of directors approved the grant of 7 million Units of Account ($ 9.73 million) in September this year. The project supports the AUC’s implementation of digital economy projects to enhance a continental single digital market. It also supports the implementation of the African Continental Free Trade Area and the Digital Transformation Strategy for Africa.

The project comes as the backdrop of the Covid-19-induced recession that exposed several gaps in the African digital economy ecosystem. It addresses these gaps.

Phase 1 runs from 2023 to 2026. It will focus on three main components namely: digital enablers; digital trade and e-commerce adoption; and support actions. Specifically, the project will help strengthen the frameworks (strategic, policy, regulatory and conceptual) and cross-cutting (gender, climate change and resilience) dimensions for the development of Africa’s digital economy.

These frameworks are key substrate to guide the establishment of a single digital market across the African continent by 2030. The project will therefore contribute to the implementation of digital enablers—universal access to broadband infrastructure, sovereign African cloud, African digital market, etc.—e-commerce and digital trade promotion programs for medium, small and micro enterprises and start-ups. It will also help to create a conducive ecosystem for digital trust, skills and African experts’ networks.

Ambassador Muchanga expressed the AUC’s gratitude to the African Development Bank for its support. He said: “The Covid-19 pandemic underscored the importance of digital technologies and the digital economy as a whole, and in that regard, Africa should think big when it comes to digital development, digital economy and the grand opportunities on integration and economic growth.”

Dr. Kamara said the project would support the implementation of the African Development Bank’s High 5 priorities as accelerators to achieve Agenda 2063 targets and the continent’s economic transformation to get The Africa We Want.

He added: “It is important to create employment opportunities for millions of young Africans, which is essential for the stability and prosperity of the continent. The digital transformation of economies offers new opportunities to increase intra-Africa trade and boost economic growth.”

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The Creating Sustainable Youth MSMEs Through Urban Farming (SYMUF) initiative will support young farmers in Nigeria, the Democratic Republic of the Congo (DRC) and Uganda, who are attracted to urban farming.

The bank is partnering with a consortium of incubation centres in participating countries to implement the project. They are the Africa Projects Development Centre (APDC) in Nigeria, the International Institute of Tropical Agriculture (IITA-Bukavu) in the DRC, and the African Agribusiness Incubation Network in Uganda.

The SYMUF project has received $937,000 in grant funding from the Fund for African Private Sector Assistance, a multi-donor trust fund managed by the African Development Bank. 

While in different regions of the continent, the three countries all grapple with high youth unemployment and limited economic opportunities.

SYMUF, which is under the Bank’s Empowering Novel Agri-Business Led Employment (ENABLE) Youth Program, will use business incubators and financial products to help transform start-up micro, small- and medium enterprises into bankable ventures. It will provide youths with agribusiness and technical skills, including climate-smart agriculture practices, technologies, market networks, and professional mentorship.

In a speech read for him during the launch in Abuja, the Director General of the African Development Bank’s Nigeria Country Department, Lamin Barrow, stressed the bank’s commitment to promoting entrepreneurship.

Barrow said: “The Bank is committed to creating jobs and providing incomes for African youth, who are attracted to urban agriculture but do not get jobs, capital, or credit to operate their agribusinesses. This project will address unemployed youth and those in the early start-up stage who have not gained traction due to limited skills and financial resources.” Barrow was represented by the Bank’s Country Operations Manager for Nigeria, Orison Amu.

Alex Ariho, CEO of the African Agribusiness Incubation Network in Uganda, said the SYMUF project would help young African ‘agripreneurs’ overcome start-up incubation and management challenges. “Working together with all the partners, we are committed to making the SYMUF Project one of the best projects sponsored by the African Development Bank,” he added.

IITA-Bukavu’s Project Coordinator, Noel Mulinganya, lauded the African Development Bank as “an important and tremendous partner over the years.”

Chiji Ojukwu, Managing Director of APDC, Nigeria, said: “We are grateful to the African Development Bank for believing in the consortium and giving us the opportunity to deploy our expertise in urban farming to develop young agripreneurs in these select African countries

The African Development Bank’s Coordinator for the ENABLE Youth Program, Edson Mpyisi, said: “This program is designed to empower youth at each stage of the agribusiness value chain as ‘agripreneurs’ by harnessing new skills, technologies and financing approaches.”

The bank has invested over $400 million in 15 African countries under the program, he said.

The Bank’s Division Manager for Agribusiness, Damian Ihedioha, said: “the bank believes that Africa’s emerging vibrant wave of entrepreneurship must be supported and nurtured for the continent’s prosperity.”

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The announcement was made at the Eighth Tokyo International Conference on African Development (TICAD8) held Sunday 28 August 2022 in the Tunisian capital, Tunis.

The funds consist of $4 billion under the existing window, and an additional up to $1 billion that will be provided under a new Special Window. Japan will establish this Special Window to support countries that are making progress in the enhancement of debt transparency and sustainability, and other reforms, thereby making steady and significant improvement in their debt situations.

Given the importance of food security, Japan and the African Development Bank will add agriculture and nutrition as a priority area under EPSA 5. As a result, EPSA 5 will cover 1) electricity, 2) connectivity 3) health, 4) agriculture and nutrition as priority areas in order to address key challenges in Africa.

At the EPSA 5 launch ceremony, Japan’s Vice-Minister of Finance for International Affairs, Mr. Masato Kanda, said his country is committed to supporting African countries while respecting their own initiatives.

The President of Japan International Cooperation Agency (JICA) Dr. Akihiko TANAKA said, “Under the severe situation caused by multiple crises, enhancing resilience and promoting human security are critical components of Japan’s support for Africa. EPSA is an essential element of our partnership with the African Development Bank to tackle social and economic challenges facing the continent. JICA commits to work with EPSA to create a bright and prosperous future.”

The African Development Bank Group President Dr. Akinwumi Adesina said, “EPSA 5 is the kind of cooperation Africa and the world needs. Escalating climate change impacts, the Covid-19 pandemic, and the war in Ukraine means that we must do even more than we already have done, to mobilize the private sector and create job opportunities in Africa. The newly signed initiative will positively impact millions of lives across Africa.”

Japan and the African Development Bank will join forces to support countries that address enormous challenges, including food security, climate change, health, digitalization, and debt issues.

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