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GHANA – Accra hosts Annual Meetings of the African Development Bank in May 2022

Ghana will host the 2022 Annual Meetings of the African Development Bank Group from 23 to 27 May in its capital, Accra. This year’s meetings mark a return to face-to-face sessions after the videoconferencing meetings of the past two years. They will be held in a hybrid format with participants present in Accra and online.
Face-to-face sessions, including statutory meetings of Bank Governors and knowledge-sharing events, will take place at the Accra International Conference Centre.
The theme of the 2022 Annual Meetings is “Fostering Climate Resilience and a Just Energy Transition for Africa”. The meetings will allow Bank Governors to share their views on the challenges of climate change and the energy transition facing their countries. They are also an opportunity to present the policy responses proposed to address these challenges.
The governors, representing the 54 African countries and the 27 non-regional member countries of the institution, will have a high-level dialogue with the President of the African Development Bank Group, Dr Akinwumi A. Adesina, and his team.
Discussions will focus on how to stimulate climate adaptation funding and related issues. Climate finance currently accounts for only 10% of global climate finance. Only about 19% of total international financing for adaptation goes to Africa, with the continent receiving only 3% of global climate-related financial flows.
This year’s theme aligns with preparations for the United Nations Climate Conference (COP27) in Sharm El Sheikh, Egypt, in November 2022. It will highlight the need for Africa to increase investment and other forms of financing to accelerate climate adaptation efforts.
The 2022 Annual Meetings of the African Development Bank Group will be the 57th Annual Meeting of the Board of Governors of the Bank Group and the 48th Annual Meeting of the African Development Fund, the Bank Group’s concessional financing window.
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BAD: Mauritanian Sidi Ould Tah takes the reins of the institution

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
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SENEGAL – 511.3 billion CFA francs in savings and 677 billion CFA francs in loans granted in 2022 in microfinance

The Senegalese Minister of Microfinance and Social and Solidarity Economy chaired, this Thursday, July 27, 2023, the 27th meeting of the National Committee for the Coordination of Microfinance Activities. Victorine Ndeye reported that microfinance affects 22% of the population with 511, 3 billion CFA francs in savings and 677, billion CFA francs in loans granted in 2022.
The 27th edition of the National Coordination Committee for Microfinance Activities was held on Friday.
According to the Minister of Microfinance and Social and Solidarity Economy, Victorine Ndeye, microfinance plays a crucial role in financial inclusion by providing accessible financial services to low-income populations and small entrepreneurs. It is a powerful tool to reduce poverty, create jobs, support local entrepreneurship and promote the economic empowerment of women and youth,” she says. “In 2022, microfinance expanded with a total of 296 institutions with 995 points of service across the country. Today 4,034,538 accounts remain active and Microfinance reaches 22% of the population, with 511.3 billion in savings and 617.3 billion in loans granted”. The minister indicates that his department is aware that we must reinvent to meet the new requirements and needs of a more vulnerable population in times of major crises that our country is going through in the face of exogenous shocks related to the Covid pandemic 19 and the Ukrainian crisis. “We intend to strengthen the synergy of microfinance actors, the government, technical and financial partners and microfinance institutions to meet the challenges we face. We must continue to promote financial stability, inclusion and transparency in the sector, but we must also address universal access to financial services through a better perception of the sector,’ she said. In his view, this requires a target-based approach, better risk management and strong governance. We also need to encourage innovation in the microfinance sector. Emerging financial technologies, such as mobile banking, innovative financing and our proven savings and credit models, offer real opportunities to expand access to financial services,’ she says. It is their responsibility to ensure that these innovations benefit everyone, including the most vulnerable and the most remote. ‘ We will continue to work towards a favourable regulatory environment that encourages investment, diversification of offerings and the expansion of microfinance institutions,’ she says.
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WAEMU AREA – Growth of 5.4% of Gdp over one year

Economic activity in WAEMU remained buoyant in the first quarter of 2023, with a 5.4% increase in GDP over one year, after 5.3% in the previous quarter.
According to the information provided by BCEAO, the business climate indicator, which synthesizes the views of business leaders, remained above its long-term trend at 101.1 percentage points. This development reflects the continuing confidence of business managers in the favourable economic outlook. The growth gain, which is an indication of the minimum level of growth that would be achieved by the end of the year, is estimated at 3.4% in the first quarter of 2023,” the BCEAO informs.
The growth of Gdp in volume terms in the Union is the result of the continued good orientation of economic activity, particularly in the secondary and tertiary sectors. The contribution of the secondary sector increased from 0.6 percentage points (pdp) in Q4 2022 to 0.7 PDP in the quarter under review.
The contribution to growth in the tertiary sector was 3.4 pdp in the first quarter of 2023 compared to 3.3 pdp in the previous quarter. In contrast, the primary sector contribution edged down to 1.3 PDP in Q1 2023 from 1.4 PDP in Q4 2022.
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