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République Démocratique du Congo (RDC): African Development Bank Group grants $260 million loan to strengthen agricultural sector and value chains

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RDC

The Democratic Republic of Congo (DRC) government and beneficiaries will provide counterpart funding of $51.2 million

ABIDJAN, Ivory Coast, July 19, 2024/APO Group/ — 

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved a loan of $260.4 million to the Democratic Republic of Congo (DRC) to help finance the Project to Support the Development of Value Chains as part of its backing for the Agriculture Transformation Programme (PADCV-PTA).

The project, totalling $311.6 million, is being funded by a $250.4 million loan from the African Development Fund, the Bank Group’s concessional window, and another $10 million loan from the Transition Support Facility, a Bank Group mechanism for countries undergoing periods of transition. The DRC government and beneficiaries will provide counterpart funding of $51.2 million.

The project will contribute towards the country’s food self-sufficiency by boosting production of the main stape food crops of rice, cassava, maize and soya. This will significantly reduce large-scale food imports – which amounted to $3 billion in 2023 — 19 per cent of the national budget – and its vulnerability to external shocks, including climate change and armed conflict.

More specifically, the project aims to rebuild the seed capital of the rice, cassava, maize and soya value chains, to improve yields in a sustainable manner and to structure and facilitate the access of stakeholders in these value chains to markets and suitable financing.

Consequently, 295,000 hectares of maize, soya, cassava and rice will be sown, using improved seeds that are resistant to climate change. Some 1,600 farmer field schools and demonstration plots will be set up and run by supervisors for extension activities, including climate-smart farming techniques. The development of irrigated rice-growing areas will enable intensive production levels to be attained, with at least two cycles per year.

The African Development Bank is a strategic partner of the DRC, whose top authorities have decided to make agriculture the priority sector

The project will make inputs available to producers on credit at the start of the cropping season, repayable at harvest time, to build up working capital to facilitate long-term access to said inputs and equipment for the pre-processing of agricultural produce (threshers, winnowing machines, tarpaulins/drying areas) for the cooperatives of rice-growing area operators.

Some 600 km of rural tracks will be upgraded to open up production basins and facilitate access to consumption areas.

The project also aims to organise the value chain stakeholders into cooperative companies so that they can benefit from economies of scale through grouped orders and sales. It will bolster the bargaining power and capacity of small-scale producers to enter into ‘win-win’ partnerships. To facilitate access to funding, the project provides for a shared-cost financing mechanism.

In addition, it will also build the capacity of national agricultural research and seed system stakeholders in order to reestablish the national seed capital.

The project will be implemented in six provinces, namely Kongo Central, Kwango, Maï-Ndombe, Kasaï Oriental, Lomami and South Kivu – areas that are part of the direct supply basins of major cities and that can also supply neighbouring countries. All told, the area covered by the project is home to 24 per cent of the Congolese population, and some 900,000 farming households, including internally displaced people, will benefit directly from the project.

Ultimately, the project should increase yields of the targeted crops by 80 per cent, and boost agricultural production by 1.68 million tonnes per year and private agricultural processing by 4.1 million tonnes over five years, while reducing the DRC’s food imports by $500 million a year. All female heads of household in the area will benefit from the project, as will two million households, on an indirect basis. This pertains to three of the country’s major urban centres, Kinshasa, the capital city, Mbuji-Mayi and Bukavu, where food security will be strengthened for around 21 million inhabitants. The project will also enhance regional integration between the DRC and neighbouring Angola via trade in agricultural products.

Other beneficiaries of the project include government services (agricultural research units, seed sellers, farmers’ organisations), private organisations (processors and service providers), decentralised regional bodies, and women’s and youth organisations.

“The African Development Bank is a strategic partner of the DRC, whose top authorities have decided to make agriculture the priority sector for the country’s development,” said Serge N’Guessan, the Bank’s Director General for Central Africa. “This project, which has just been approved by the Bank Group’s Boards of Directors, will enable the rapid implementation of the National Food and Agriculture Pact, which is part of this national vision.”

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

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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February 6, 2026

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The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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February 6, 2026

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After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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February 6, 2026

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This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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