BOAD’s investment in West Africa reached CFA5, 000 billion
Monday, 26 March 2018 18:22
The West African Development Bank (WADB)’s investment in West Africa reached CFA5, 000 billion ($9.66 billion), the institution indicated in a statement.
According to information relayed by Xinhua, this figure includes all the operations carried out by the bank for economies within West African Economic and Monetary Union (WAEMU), since it launched its activities. So, the latest CFA 195 million ($368.8 million), out of which CFA190 billion will be directed to local development projects in Côte d'Ivoire, Burkina Faso, Senegal and Benin and CFA5 billion to be used to buy shares in the CAURIS IV SMEs’ investment fund, is also included.
For the record, BOAD is a sub-regional institution created in 1973 and “focused on development of member economies towards balanced development and to prepare economies for future West African economic integration”.
Since 2015, the bank’s actions are in line with the strategic plan to boost economic integration and transformation in West Africa by 2019.
Moutiou Adjibi Nourou (intern)
Live News
-
BGFIBank Cameroon Increases Capital to CFA50Bln Ahead of Stricter Banking Rules
20:58
-
Cameroon Signals Possible Return to Bvmac with Up to CFA150 Billion Bond
18:15
-
Public Enterprises Hold CFA1.5 Trillion in Assets, CFA493.9 Billion in External Debt at End-2024
18:08
-
Cameroon Faces CFA65.7 Billion in Repayments, Turns to Market for Relief
18:04
-
In Africa, a Market for Medical Robotics Is Expanding. Adoption Is the Hard Part
16:16
-
Togo ranks second in Africa in World Bank gender law index
15:15
-
Togo opens 2026 cashew season, cuts farm-gate price to 350 CFA francs per kg
15:03
-
BOAD Development Days to Put Sustainable Housing in Focus in Lomé
14:34
-
University of Lome tests scalable model linking farmers to school meals
14:21
-
Egypt’s Swypex streamlines payments and expense management for SMEs
13:47
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...
Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...
Naira strengthens to 1,348 per dollar, boosting assets Lagos market gains 25,000 billion naira in...
Cameroon wins gold at 2026 Cacao of Excellence Awards Top sample selected from 191 entries worldwide Award boosts position in premium “fine flavour”...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private investment Progress slowed amid coordination,...
In 2025, the development of the Kamoa-Kakula copper complex, the largest in the Democratic Republic of the Congo (DRC), was marked by two major events: a...
DR Congo bans South African livestock imports over FMD Measure suspends permits for animals and animal products South Africa ramps up vaccination,...
More than 500 media leaders gathered in Nairobi on Feb. 25–26 for the fourth African Media Festival under the theme “Resilient Stories: Reinventing...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...