BUSINESS
AFRICA: $53 million African Development Bank grant for Covid-19 response in Gambia, Liberia and Sierra Leone
The Board of Directors of the African Development Bank (https://www.AfDB.org/) approved on Friday, 24 July, in Abidjan, a multi-country grant of $53.25 million (38.15 million units of account) for The Gambia. Liberia and Sierra Leone to support their efforts to address the Covid-19 pandemic.
The African Development Fund (ADF) grant, the African Development Bank Group’s concessional rate lending window, provides direct budget support to mitigate the impact of Covid-19 in these three West African countries, known as “GLS,” (Gambia, Liberia, Sierra Leone).
This multi-country funding includes a UA 5 million ADF grant and a UA 5 million Transition Support Facility (TSF) grant to the Republic of The Gambia, Liberia will receive a UA 10.15 million ADF grant and Sierra Leone UA 18 million.
The Gambia, Liberia and Sierra Leone are countries in transition, facing similar challenges in terms of macroeconomic stability, fragility, competitiveness and growth. Liberia and Sierra Leone were severely affected by the Ebola outbreak between 2014 and 2016, while The Gambia is in a transitional phase following the departure of President Yahya Jammeh in 2016.
As soon as the first cases of Covid-19 in the three countries were reported in March, they promptly took steps to put in place contingency plans to prevent and contain the spread of the virus. Despite this, cases of infection have increased. As of July 22, there were 146 confirmed cases in The Gambia, 1,144 in Liberia and 1,731 in Sierra Leone.
Direct beneficiaries of the grant-funded programmes will include households headed by vulnerable women, orphans and school children. The business community, particularly the most affected small and medium-sized businesses, will benefit from support for economic resilience, while the general population will be protected from the effects of the pandemic.
The Multi-Country Grant is part of the Covid-19 Rapid Response Facility (FRC), a US$10 billion financing mechanism put in place by the Bank to help its regional member countries and the private sector deal with the pandemic and its social and economic consequences.
Distributed by APO Group for African Development Bank Group (AfDB).
Media Contact:
Amba Mpoke-Bigg
Department of Communication and External Relations
African Development Bank
E-mail: a.mpoke-bigg@afdb.org
The presidency of Togo has announced that the project to exploit the manganese mine of Nayega, located in the Savanes region in the north of the country, is entering its operational phase. According to a statement issued on June 10, 2025, production is scheduled to start at the end of June 2025, with an initial volume of 4,000 tons per month, which should gradually double to reach 8,000 tons per month.
Keras Resources is the technical partner retained by the Togolese government to carry out this project. A statement from Keras, relayed by the presidency, details that the company signed a cooperation agreement in 2023 with the Togolese state, owner of the mine through the Togolese Manganese Company (STM). Under the terms of this agreement, Keras will receive a remuneration of 1.5% of the mine’s gross revenue for three years for its advisory services, as well as 6% for brokering services.
The reserves of the Nayega mine are estimated at 8.5 million tonnes, which would allow exploitation over a period of 11 years. The authorities of Lomé welcome the expected contribution of the mine to the national budget, a benefit that should be strengthened by the rigorous management of the generated revenues, as indicated by our colleagues from Agence Afrique.
With a growing global demand for manganese, particularly in steel alloys and renewable energy technologies, Togo is seeking to assert itself as an essential supplier of this strategic ore. This positioning could play a catalytic role for the national economy, always according to information from the Africa Agency.
Source: senego / Photo credit: Republicoftogo.com
The Gabonese government decided on Friday to ban the import of broilers in order to promote national poultry production and ensure food security, according to the final communiqué of the council of ministers chaired by the head of state, Brice Clotaire Oligui Nguema.
The ban will be effective from 1 January 2027, thus leaving a period of 18 months (1 year and 6 months) for actors in the sector to structure themselves, invest and prepare to meet national demand.
“This measure aims to restore domestic poultry production, boost agricultural investment, reduce food dependency and strengthen the trade balance,” the government hopes. Gabon also hopes to foster “the emergence of a network of rural jobs, the rise in quality of products consumed locally and the creation of an economic ecosystem around this sector”.
The government has also planned a detailed operational plan to be presented within 45 days by the ministers responsible for economy and trade.
Libreville dreams of reducing its dependence on poultry imports and strengthening the country’s food security. In addition, the promotion of local poultry farming should have a positive impact on rural areas, generating jobs and contributing to the development of a vibrant poultry ecosystem.
Imported frozen chicken is the most consumed food in Gabon because of its low price and packaging ready to be thrown into a pot.
“The star of the freezer” is how Gabonese people refer to frozen chicken because it is often the only food, if not the default food, found in the freezers of Gabonese families.
Frozen chicken and meat are generally imported from Latin America and Europe. Their massive presence on the market has destroyed local production.
The Council of Ministers also announced a ban on exporting crude manganese from 1 January 2029. The objective is to promote local industrial development, create jobs and maximize the value of this resource, of which Gabon is the world’s second largest producer.
Sources: gabonactu.com
Mauritania is in the spotlight. On Thursday, May 29, 2025, Sidi Ould Tah was elected president of the African Development Bank (AfDB), at the annual meeting of the institution held in Abidjan. He succeeds Akinwumi Adesina of Nigeria, in office since 2015.
His election came after a hard-fought duel against Samuel Munzele Maimbo of Zambia, who finished in second place. The election, which was marked by major geopolitical and economic issues, took place against a background of high expectations regarding governance and development financing on the continent.
The Senegalese Amadou Hott, long perceived as one of the favorites, finishes in third place, followed by the South African Bajabulile Swazi Tshabalala. Despite significant diplomatic support, notably for Hott, the momentum in favour of Sidi Ould Tah has prevailed in the last few rounds.
Former minister and general manager of the Arab Bank for Economic Development in Africa (BADEA), Sidi Ould Tah is recognized for his experience and strategic vision. He will officially take office on 1 September 2025.
Photo credit: Forbes Africa
