The African Development Bank-led Green Mobility Financing Facility for Africa (GMFA) is set to expand its support for clean transport after receiving $13.46 million in new funding from the Global Environment Facility (GEF).
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The African Development Bank (AfDB) has warned that an expected “super” El Niño weather event could cost African countries between $10 billion and $20 billion, reduce economic growth and force millions of people to leave their homes.
Africa is about to make its own electric-vehicle batteries. The African Development Bank has approved a €100 million loan to Gotion Power Morocco to build the continent’s first integrated battery gigafactory, the bank announced on 24 July 2026.
Nigeria and the African Development Bank (AfDB) have renewed calls for African countries to take greater control of the continent’s vast mineral regic financing and ownership of mineral data to ensure that Africa derives greater economic benefits from its natural wealth
The African Development Bank’s chief climate expert said that an impending “super El Nino” is likely to cause a combined hit of $10 billion to 20 billion dollars on the affected African countries and lead to mass migration out of hard-hit areas.
AfDB warns Africa faces Sh2.58 trillion loss from predicted ‘super’ El Niño Residents wade through flooded water in the past in Somalia. (Photo: Courtesy)