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By Abdul Rahman Suagibu – NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- Tony Elumelu Foundation (TEF) Entrepreneurship Programme receive $5 million grant from the African Development Bank(AFDB). According to a press release.  “The Board of Directors of the African Development Bank has approved a grant of $5 million to enable the Tony Elumelu Foundation Entrepreneurship Programme to scale up its outreach and impact to 1,000 select youth entrepreneurs,” the press release reads. The partnership will aid 3,050 young entrepreneurs across fifty-four African countries. The Bank’s participation will improve an additional 1,000 entrepreneurs to benefit from the TEF programme, summing it up to a total of 4,050 candidates. This would minimize the growth of unemployment and the inequality among...

By Abdul Rahman Suagibu – NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- LIBERIA, Embassy of the United States of America, in partnership with the Government of Liberia and other international partners, has promulgated a technical assistance program to be provided through the U.S. Agency for International Development (USAID) to the Central Bank of Liberia (CBL). Virtually, the aim of the technical support is to enhance the Central Bank of Liberia to effectuate steadily performance of its core functions of managing the Liberian currency and creating the requisite monetary stability for broad-based and inclusive economic growth. The Liberia Dollar is in a high state of demand and supply, therefore giving an up hill task to Liberians to handle enough of Liberian Dollars in their...

By Abdul Rahman Suagibu – NEW AFRICA DAILY  NEWS, Freetown, Sierra Leone- UGANDA, Annual performance report of the House of Parliament, Shs 6.15 trillion has been given as loans in 2019. Inclusively , Shs768 billion ($210 million) loan from the Islamic Development Bank (IDB) for the upgrade of Rwekunye-Apac-Lira-Acholibur Road, $110 million also from IDB for the upgrade of Muyembe- Nakapiripirit Road, Shs18.29 billion ($5 million) from the Export-Import Bank of India and Shs54.89 billion (US Dollars 15 million) from the African Development Bank [AfDB] as guarantee for credit lines to Uganda Development Bank Limited (UDBL). In concert with the above, $ 379.71 million in promissory notes to FINASI/Roko Construction SPV Limited for the construction of the International Specialized...

By Abdul Rahman Suagibu – NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- TANZANIA, The African Development Bank (AfDB) has signed US$ 55 million facility to revamp implementation of reforms to improve Tanzania’s economic competitiveness and private sector participation in the country’s growth. These reforms will serve as a catalyst to lead to viable and more stronger economy, that will enhance proper living conditions of Tanzanians, with particularity to the ordinary people, destitute and needy people inclusively, women and youth. “Tanzania’s private sector is dominated by small enterprises mostly in smallholder agriculture and small informal non-farm businesses,” stated Abdoulaye Coulibaly, the Bank’s Director of Governance and Public Financial Management Department....