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Cameroon: African Development Bank Group approves €330 million loan to upgrade Ngaoundéré-Garoua road to improve connectivity and strengthen regional integration

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2 weeks ago

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Cameroon

The aim of the programme is to modernise a strategic section of Cameroon’s road network, which is essential for transporting people and goods between the north and south of the country

YAOUNDE, Cameroon, March 24, 2025/APO Group/ –The African Development Bank Group (www.AfDB.org) has given the green light to a loan of €330.48 million to Cameroon to redevelop and widen a key section of the Douala-Ndjamena economic corridor, a vital part of plans promoting strengthened regional integration.

The financing agreement for the 246-km-long Ngaoundéré-Garoua section of the Douala-Ndjamena economic corridor, one of the most strategic corridors in Central Africa, comes under  part of Phase 4 of the Transport Sector Support Programme (PAST4).

It was signed on 19 March 2025 in Yaoundé by Solomane Koné, the African Development Bank Group’s Acting Director General for Central Africa, and Alamine Ousmane Mey, Minister of Economy, Planning and Regional Development and Governor of the Bank for Cameroon.

“The redevelopment of the Ngaoundéré-Garoua road section is crucial to the competitiveness of our economy, due to improved connectivity and easier movement,” said Mey. “[…] It will also enable us to make better use of the agro-pastoral and commercial potential of the areas it crosses, to the great benefit of local communities.”

Koné added: “Phase 4 of the Transport Sector Support Programme, approved by the Board of Directors of the African Development Bank on 13 December 2024, was designed to amplify the impact of the Bank Group’s previous actions and to support its leadership and its dynamic cooperation with Cameroon within the transport sector.”

The ceremony was attended by Hilarion Etong, Senior Deputy Speaker of Cameroon’s National Assembly, and several members of the government, including Jean Ernest Ngallé Bibéhè, Minister of Transport, Emmanuel Nganou Djoumessi, Minister of Public Works, and Ibrahim Talba Malla, Minister Delegate to the Presidency in charge of Public Contracts, as well as local elected representatives and governors of regions such as Adamaoua and the North.

The Bank Group will provide 97 per cent of the total cost of Phase 4 of the Transport Sector Support Programme, which amounts to €340.7 million. The Government of Cameroon will contribute €9.14 million.

The aim of the programme is to modernise a strategic section of Cameroon’s road network, which is essential for transporting people and goods between the north and south of the country. To enhance traffic flow, three interchanges are also planned. The programme includes measures to improve transport and support local residents, specifically through the construction of socio-economic infrastructure such as markets, schools and health centres. Bringing this stretch of road up to international standards will have a highly positive impact on the competitiveness of the economy and the dynamics of integration in the sub-region.

 

“Cameroon’s geostrategic position places our country at the core of the integration challenges facing the CEMAC (https://apo-opa.co/41UocZF) (Economic and Monetary Community of Central Africa) region,” explained Mey. “An improved Ngaoundéré-Garoua section will undoubtedly boost cross-border trade by significantly increasing traffic on the Garoua-Maroua-Kousseri-Ndjamena road (in Chad) and the Garoua-Magada-Yagoua-Bongor-Ndjamena road.”

Phase 4 of the Transport Sector Support Programme is in keeping with Cameroon’s National Development Strategy for 2020-2030 (SND30) and the Bank Group’s priorities in Cameroon’s Country Strategy Paper for 2023-2028, which is aligned with the objective of diversifying Cameroon’s economy, in particular by facilitating access to markets for agricultural and industrial producers in the north of the country.

The African Development Bank Group and Cameroon are strategic partners, particularly in the infrastructure sector, with investments of $1.88 billion in transport infrastructure. The Bank Group’s commitment is reflected in major investments in the construction and upgrading of roads, bridges and strategic corridors, thereby facilitating the movement of people and the transport of goods on a national and regional scale. By adopting an integrated and inclusive approach in line with its Ten-Year Strategy 2024-2033, the Bank Group is stimulating the structural transformation of the economy and regional integration, with a view to sustainable growth and job creation for the benefit of inhabitants.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Morocco’s First Africa’s Business Heroes (ABH) Top Three Finalist is Pioneering Water and Sanitation Solutions

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7 hours ago

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April 8, 2025

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Africa’s Business Heroes

Her inspiring leadership, technical knowledge and commitment to making a difference have seen her rise as a business leader in the water and sanitation industry

RABAT, Morocco, April 7, 2025/APO Group/ —

In a remarkable milestone for Morocco, Dr. Salma Bougarrani has made history by becoming the first female Moroccan entrepreneur to reach the Top three finalists in the esteemed Africa’s Business Heroes (ABH) www.AfricaBusinessHeroes.org/ Prize Competition. Finishing as the 1st Runner-Up. Dr. Bougarrani, the co-Founder and CEO behind Green Watech (apo-opa.co/4jrjZnv), is not just pushing sanitation forward for the rural communities; she’s also blazing a trail for women entrepreneurs in an industry where females are often not noticed or heard from. Her inspiring leadership, technical knowledge and commitment to making a difference have seen her rise as a business leader in the water and sanitation industry.

The recognition from ABH, the Jack Ma Foundation’s flagship philanthropic program in Africa, aligns with its mission to spotlight and support local talent like Dr. Bougarrani, who are driving positive change in their communities. Over a decade, the program aims to honor 100 African entrepreneurs while providing grant funding, training and broader ecosystem support to foster African entrepreneurship.

Dr. Bougarrani’s journey into the world of water and sanitation began with her firsthand observations of untreated wastewater wreaking havoc in Moroccan villages. Witnessing these difficulties sparked her passion for creating sustainable solutions, leading her to leave the world of academia and pursue a career in entrepreneurship. In 2018, she formed Green Watech to give rural communities access to reasonably priced and energy-efficient sanitation systems. She holds a PhD in Advanced Water Treatment Processes from Med V University and Leipzig University.

Impacting Lives Through Sustainable Innovation

At the centre of Green Watech’s innovation is a groundbreaking soil-based filtration system, which provides the means to treat wastewater for agricultural irrigation. Unlike expensive, energy-hungry technologies, this system is all about being low-maintenance, budget-friendly, and sustainable – perfect for rural communities that often struggle with limited infrastructure. By cutting down the need for fresh water by as much as 70%, Green Watech is transforming the water management landscape in Morocco.

Since its inception, Green Watech has changed the lives of over 30,000 people in 17 Moroccan villages and farms. The company has cleaned more than 200 million litres of wastewater, which helps with water shortages and makes farms more productive. Thanks to Green Watech’s participatory model, local communities actively participate in the process. Villagers are taught how to set up, maintain, and grow sanitation systems through training programs, which promote resilience and sustainability in the long run.

Green Watech’s soil-based filter system also cuts down on the need to use fresh water for crops. It offers a long-lasting, cheap, and easy-to-keep-up answer for people in rural areas. The company plans to grow beyond Morocco in the future. It aims to reach North Africa and other places during the year.

Breaking Down Barriers as an ABH Trailblazer

Dr. Bougarrani’s recognition as the first Moroccan entrepreneur to be placed among the top three finalists in the ABH competition is significant. Her success defies cultural expectations and gender norms in a field where male entrepreneurs predominate. Her accomplishment serves as a role model for aspiring female entrepreneurs throughout Africa and highlights her technical expertise and leadership abilities.

Her work in sustainable water management has gained her worldwide recognition. She has received top honours, including the United Nations Industrial Development Organization (UNIDO) Grand Prize.

The Future of Green Wateche

Dr. Bougarrani plans to put the $150,000 prize back into Green Watech to help it reach more African communities in need. She has an ambitious goal to reach 1 million end-users by 2030.  Her career is an outstanding example of how someone with a strong will and passion can break walls, challenge stereotypes and uplift entire communities.

2025 ABH Applications Are Now Open

African entrepreneurs who want to enter the 2025 edition of the competition and stand a chance to win a share of US$1.5 million can do so at https://AfricaBusinessHeroes.org/en/register.

Distributed by APO Group on behalf of Africa’s Business Heroes (ABH

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African Development Bank and Bank of Africa Tanzania sign $7.5 million facility to boost trade finance

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9 hours ago

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April 8, 2025

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The facility will support small and medium-sized enterprises (SMEs) and local corporates engaged in the import sector

DAR ES SALAAM, Tanzania, April 7, 2025/APO Group/ –The African Development Bank (www.AfDB.org) and the Bank of Africa Tanzania (BOAT) have signed a $7.5 million trade finance transaction guarantee facility to boost trade finance activities of the Bank of Africa in Tanzania.

Under this facility, the African Development Bank will provide a guarantee of up to 100% to confirming banks against non-payment risks arising from letters of credit and similar trade finance instruments issued by the Bank of Africa Tanzania. The facility will support small and medium-sized enterprises (SMEs) and local corporates engaged in the import sector. The facility aligns with efforts to bolster intra-Africa trade, contributing directly to the objectives of the African Continental Free Trade Area (AfCFTA) (https://AU-AfCFTA.org/).

This partnership strengthens our ability to support businesses across various sectors by providing seamless trade finance solutions

Speaking at the signing event on March 10, 2025, in Dar es Salaam, the Bank’s Country Manager for Tanzania, Patricia Laverley, stressed the importance of the facility in addressing Tanzania’s trade finance needs, saying that given the country’s import requirements, it will aid priority sectors such as trade, agriculture, manufacturing, and energy. “This facility will support trade by enabling BOAT to play a more strategic role in the regional and international market.”

Representing BOAT’s management, Deputy Managing Director Hamza Cherkaoui lauded the strong partnership with the African Development Bank, emphasizing its role in expanding trade finance capabilities across the continent. “This partnership strengthens our ability to support businesses across various sectors by providing seamless trade finance solutions, expanding our confirmation network, and enabling access to top-tier confirming banks,” he said.

The new Trade Guarantee facility aligns with Bank of Africa Tanzania’s strategic priorities and the African Development Bank’s broader objectives, including promoting regional integration, increasing food security, and industrializing Africa. It also supports Tanzania’s Country Strategy paper 2021-2025, which focuses on enhancing the private sector business environment for job creation. It also aligns with the country’s development vision (Vision 2025), which aims to build a strong and resilient economy capable of competing globally.

The signing of the agreement marks a significant milestone in the African Development Bank Group’s direct engagement with Tanzania’s private sector, reinforcing its commitment to strengthening the country’s financial sector and economic development.

Distributed by APO Group on behalf of African Development Bank Group (AfDB

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PAC Capital Limited Named Best Transaction Advisory Firm in Nigeria at the Grand Annual Awards Ceremony 2025

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10 hours ago

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April 8, 2025

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PAC-Capital

As part of the PanAfrican Capital Holdings Group, PAC Capital continues to expand its footprint across Africa and globally, with a focus on impact-driven transactions that promote sustainable economic growth

LAGOS, Nigeria, April 7, 2025/APO Group/ –PAC Capital Limited (www.PACCapitalLtd.com), a leading investment banking and advisory firm, is proud to announce its recognition as the Best Transaction Advisory Firm – Nigeria 2025 by the International Business Magazine Awards!

The award celebrates PAC Capital’s consistent track record in structuring and executing high-impact transactions across various sectors, including infrastructure, energy, transport, and financial services. This international recognition highlights the firm’s commitment to excellence, innovation, and delivering value-driven advisory services.

At PAC Capital, we are committed to delivering transformative financial solutions that not only meet but exceed expectations

Humphrey Oriakhi, Managing Director of PAC Capital, expressed his pride and appreciation for the recognition:

“This award is a strong validation of our efforts to lead with insight, integrity, and innovation in the transaction advisory space. We are truly honored to be acknowledged on a global platform. I dedicate this achievement to our clients who trust us with their most strategic decisions and to our team whose dedication fuels our success.”

Bolarinwa Sanni, Executive Director of PAC Capital, emphasized the importance of collaboration and resilience in the firm’s journey:

“Winning this award reflects the strength of our advisory team and the boldness of the clients we serve. At PAC Capital, we are committed to delivering transformative financial solutions that not only meet but exceed expectations. This recognition inspires us to keep pushing boundaries and shaping Africa’s investment landscape.”

As part of the PanAfrican Capital Holdings Group, PAC Capital continues to expand its footprint across Africa and globally, with a focus on impact-driven transactions that promote sustainable economic growth.

Distributed by APO Group on behalf of PAC Capital Limited

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