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By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone – Hybrid capital will give birth to a multiplier impact on the Bank’s financing, and enable the issuance of extra green, social and sustainable bonds to finance projects eating some of the African Continent’s most crucial development challenges, comprising food security, access to water and health services, and climate change. Dr. Akinwumi Adesina – President of AfDB Group global and regional multilateral development banks are being inquired of to remake their business varieties to influence more financing at scale, tackle climate change, and accelerate development. “The African Development Bank is a pioneer in financial innovations. Our decision to issue hybrid capital will allow us to leverage more...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone – Planters in Kenya will not scramble again of warming their maize and other cereals after the harvesting process, President Ruto divulged in State House on Wednesday, August 2nd, 2023. This development came up after President William Ruto declared openly an agenda by the administration to amass 100 driers. The driers, President said, the driers will be allotted strategically to several National Cereals and Produce Board depots nationally. These driers will enable the growers dry their produce at subsidized and highly inexpensive prices. The President begets to identify planters in Kenya who battle to dry their produce, while some dried their produce on the roadsides, consequently ushering to loss between 20...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra Ghana- Government of Zambia, through the Ministry of Commerce, Trade and Industry (MCTI) has signed an agreement with the United Nations Conference on Trade and Development (UNCTAD) to modernize customs procedures using the Automated System for Customs Data (ASYCUDA). The ASYCUDA is an integrated customs management system for international trade and transport operations in a modern automated environment. It has advanced software applications which are designed and developed for customs administrations and the trade community to comply with international standards when fulfilling import, export and transit related procedures. The Zambia Revenue Authority (ZRA) is a key beneficiary of the system which is being provided under the MCTI...

By Abdul Rahman Bangura–  NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone – July 25th, 2023 denoted the outset of what is predicted to be Africa’s first debt-for-nature swap, with Gabon announcing schedules to purchase up at least $450 million of its public debt and barter it for an eco-friendly blue bond. Calculations spotting it at near to a third of the whole world’s population of susceptible species, Gaspotaches and coastal waters are home to the number of leatherback turtles. Debt-for-nature swaps, at their most basic level, comprise a bank or specialized investor buying a nation’s debt and marketing it for cheaper debt, periodically with the subsidy of a multilateral development bank “credit guarantee” or “risk insurance.” The money saved...