African Development Bank Invests $774 million in 6 African Countries

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Akinwunmi Adesina, President, African Development Bank

The African Development Bank announced its initial investment of $774million in six countries in Africa on Tuesday Sept 5. The investment is meant to accelerate progress on agribusiness ventures, youth empowerment and economic growth through its Feed Africa Initiative.

The Bank aims to support 300,000 agribusinesses and create jobs for 1.5 million youth within the next five years through its ENABLE (Empowering Novel Agri-Business-Led Employment) Youth Programme, a flagship programme under the Feed Africa Initiative. This is expected to harness the demographic advantage of the continent and spur sustained economic growth.

Read more here. (Picture source: Capital FM, Kenya)


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