How can the ocean contribute renewable energy to the African ‘Blue Economy’, bringing opportunities to millions of Africans and reducing or replacing carbon emissions, and which strategic actions can help it reach this potential?

The African Development Bank played a critical role in supporting millions of people across the continent, affected by the impact of the Covid19 pandemic in 2020. This is according to its latest Annual Development Effectiveness Review released.

Central African governments introduced several socioeconomic measures after COVID-19 first surfaced. CEMAC countries and the Democratic Republic of Congo enacted stimulus measures equivalent to several percentage points of GDP, combining tax relief and liquidity injections with spending for public health measures and social sectors.

Getting Africa’s financial sector ready to cope with climate risk is vital for a smooth transition to net-zero emissions and resilience, according to a new report by three global institutions. The report was launched by the African Financial Alliance on Climate Change (AFAC) at the COP26 climate conference.

Assuming the COVID-19 pandemic ends or that successful vaccination programs are implemented, Southern Africa is projected to grow 3.2 percent in 2021 and 2.4 percent in 2022. But this recovery will be inadequate given the region’s estimated 6.3 percent contraction in 2020.

The African Development Bank and partner institutions of the Africa NDC Hub have published a flagship report on the status of Nationally Determined Contributions (NDCs) in Africa and the imperative for climate finance innovation.

Real gross domestic product growth in North Africa was largely negative in 2020, at -1.1% with a -5.1 percentage point drop over 2019, the African Development Bank’s 2021 edition of the North Africa Economic Outlook reports.

This report complements the African Development Bank’s African Economic Outlook 2021, providing more detail on West Africa’s economic situation and growth prospects in the face of the COVID-19 pandemic. It also analyzes public debt in West African countries and explores financing options.

This report reviews the economic performance of the 13 countries under the African Development Bank’s East Africa Regional Development and Business Delivery Office: Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, Somalia, South Sudan, Sudan, Tanzania, and Uganda.

The COVID-19 pandemic has affected many economies worldwide. It had diverse impacts on the African mining sector. This paper documents its impact by focusing on four major mineral-rich African countries: Ghana, Mali, South Africa and Zambia.