AFRICAN DEVELOPMENT BANK

The illicit outflow of assets from Africa actually exceeds the amount of aid and investment coming in, says a new report.

Corruption cost Africa hundreds of billions in the last decade, a study shows, depriving the poorest continent of capital sorely needed for development.

An increasing number of people are trying more ways to sneak money out of countries that are buckling under the weight of the world's almost daily financial crises.

The military junta that seized control of Guinea-Bissau last week said on Thursday that they will hand power to civilian government in two years.

The volatility, panic, and the resulting tightening of investors' purses that dominated credit markets for much of 2011 is giving way to calm, creating a flood of cash from investors now confident enough to put their money back into corporate bonds. Somewhat surprisingly, crisis-exposed financial institutions, even in Europe, have been able to take advantage.

A budget crunch in Swaziland, Africa's last absolute monarchy, has reached a critical stage with the government struggling to maintain spending on HIV/AIDS, education and the elderly, the International Monetary Fund said on Wednesday.

The African Development Bank (AfDB) on Wednesday applauded Uganda's four percentage point interest rate hike aimed at taming rampant inflation and said the cycle of monetary tightening was expected to trim economic growth in 2011.

Famine has spread to six out of eight regions in southern Somalia, with 750,000 people facing imminent starvation, the United Nations said on Monday, and hundreds of people are dying each day despite a ramping up of aid relief.

Ivory Coast restarted negotiations with financers and France's Bouygues on Monday to build a third bridge over Abidjan's main lagoon to ease congestion, 15 years after the project was first mooted.

Intelsat S.A., the world’s leading provider of fixed satellite services, announced today that the launch of Intelsat New Dawn has been rescheduled to Friday, April 22 at 5:37 p.m. (EDT). The satellite, loaded on an Ariane 5 rocket, will be launched from the Spaceport in Kourou, French Guiana.

Zimbabwe has licensed five independent power producers whose projects are aimed at helping a struggling power sector by doubling current electricity output to 4,450 megawatts, a government minister said on Friday.

African economic growth is heading back to pre-crisis growth levels, propelled by strong demand for its resources and increased South-South investment, notably from China.

Plans for a delayed 300 MW wind farm in Kenya can now proceed after lenders agreed to rely on the government's assurance that it backed the plan, instead of proper guarantees, the chairman of the project said.

The African Development Bank (AfDB) said on Thursday it had loaned South African state owned utility Eskom 1.86 billion euros ($2.81 billion) to finance the construction of the Medupi power project.

Developing and industrialized countries are continously working hard through negotiations, in Doha, to reach a new International Trade Agreement (ITA). However, there is increasing recognition that even if there was free trade between nations, many countries

The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank Group (AfDB) on Wednesday in Tunis, approved a grant of about US$ 44.95 million, to finance the Kicukiro-Kirundo Road Project linking Rwanda to Burundi.