African development Bank Headquarters
* Bank Group to expand investment in Lesotho to $331 million
*Also, Ethiopian Airlines Group, AfDB sign Letter of Intent for financing of world-class Abusera International Airport
A new chapter of regional collaboration is taking shape in West Africa as the African Development Bank and the Council of the Entente explore closer ties to accelerate integration and sustainable development across five member states.
Nnenna Nwabufo, the Bank’s Vice-President for Regional Development, Integration, and Business Delivery, met with a delegation from the Council led by Deputy Executive Secretary Ali Idi at the Bank’s headquarters in Abidjan.
The talks focused on scaling up joint efforts to finance key regional projects, strengthen institutional capacity, and drive inclusive economic growth.
Founded 60 years ago, the Council of the Entente (Conseil de l’Entente) brings together Côte d’Ivoire, Niger, Burkina Faso, Togo, and Benin to promote economic cooperation and solidarity.
Ms. Nwabufo, joined by the Bank’s Deputy Director General for West Africa, Joseph Martial Ribeiro, and Youssouf Koné, Head of Regional Funds Management, highlighted opportunities to enhance collaboration in project co-financing, capacity building, and the implementation of regional initiatives.
“Strengthening the partnership between the African Development Bank Group and the Council of the Entente offers a vital opportunity to support West Africa amid an evolving socio-political landscape, while advancing regional integration,” said Ms. Nwabufo.
She noted that the partnership could focus on the co-financing of transformative regional projects that bolster resilience, safeguard social and investment gains, enhance regional connectivity, and foster inclusive economic growth.
Ms. Nwabufo also stressed the importance of joint efforts in capacity building and governance reforms to improve resilience, prevent crises, and strengthen social cohesion. She added that collaborative initiatives could address climate change, support economic diversification, and help mitigate security risks.
During the meeting, Mr. Idi presented the Council’s new Strategic Plan for 2024–2028, which aims to “strengthen peace, solidarity, security, and sustainable development in service of the community.” A key component of the plan is the PARCI-CE project (Projet d’Appui au Renforcement des Capacités Institutionnelles du Conseil de l’Entente), designed to reinforce the Council’s institutional, human, and operational capacities to better implement and monitor socio-economic development programmes across its member states.
The project prioritizes the design and delivery of regional socio-economic infrastructure, such as village water systems and solar electrification, as well as initiatives in agriculture, livestock, forestry, vocational training, and employment for youth and women. It also supports member states affected by humanitarian crises.
“The African Development Bank Group is a longstanding partner of the Council of the Entente’s member countries,” said Mr. Idi. “Our institutional capacity-building project, aligned with the 2024–2028 Strategic Plan, echoes the Bank’s key strategic priorities for the region: integrating Africa, improving the quality of life for Africans, feeding the continent, and providing light and energy across Africa.”
The Council of the Entente (Conseil de l’Entente) is a sub-regional organisation in West Africa comprising five French-speaking countries: Benin, Burkina Faso, Côte d’Ivoire, Niger and Togo. It aims to ensure peace, security and stability in its member states, and to promote closer and more dynamic political and cultural integration between them, based on fraternity and solidarity, as well as fostering sub-regional economic integration and the well-being of people. It is based in Abidjan (Côte d’Ivoire).
African Development Bank Group to expand investment in Lesotho to $331 million
“We will continue to support Lesotho very strongly through our new focus on infrastructure for industrial competitiveness.” Akinwumi Adesina
The African Development Bank Group plans to invest $331 million in key strategic sectors in Lesotho as part of its proposed Country Strategy Paper for 2025-2030 to boost economic growth and industrial competitiveness.
During an official visit to Lesotho — the first by an African Development Bank President — Dr. Akinwumi Adesina met with His Majesty King Letsie III to discuss strengthening development partnerships and expanding the Bank’s investments in the country.
Dr Akinwumi Adesina
His Majesty expressed delight at the Bank President’s visit, viewing the mission as a reflection of the Bank and Adesina’s appreciation for Lesotho’s progress in improving people’s lives.
“With haste, we will ensure that the policies and incentives to accommodate the needs of and attract the private sector are in place, especially in healthcare, agriculture, and manufacturing,” the King remarked.
King Letsie said he was confident that Adesina, whom he described as a ‘man of action,’ would help catalyze progress on the Bank’s strategic projects in Lesotho.
Adesina thanked King Letsie for his strong leadership role as the African Union Nutrition Champion since 2014, his advocacy for improved nutrition and food security on the continent — especially for women, adolescents, and children — and his passion for youth development.
The African Development Bank president commended His Majesty for his leadership on the King Letsie III Just Energy Transition Fund, which aims to generate approximately 200 megawatts of power through private sector investments.
He also briefed King Letsie about the Bank’s new 2025-2030 Country strategy paper and planned investments of $331 million to support quality infrastructure, capacity building, energy, integration and interconnectivity, debt management and standards, and strengthening the office of the Prime Minister.
Referencing dwindling donor commitments globally, Dr. Adesina said, “Africa must prepare to engage more proactively with the private sector. Every challenge is an investor’s dream. Ultimately, capital, like water, will always find a receptive place to go.”
According to Adesina, the Bank has implemented 87 projects totaling $429 million since Lesotho joined the Bank in 1973.
“We have eight ongoing projects worth $60 million, and we look forward to significantly expanding our commitments,” Adesina said.
The Bank’s investment strategy for Lesotho will focus on several priority areas:
Energy infrastructure, including electricity transmission lines connecting Lesotho to South Africa
Agricultural development to enhance food security and rural livelihoods
Climate resilience initiatives to address environmental challenges
Digital transformation, including broadband expansion for digital financial inclusion and government service digitalization
Water resource management, building on the success of the Lesotho Lowland Rural Water Supply Project
Public financial management and debt management support
Trade competitiveness enhancements through improved grades and standards for exports
The African Development Bank-led Lesotho Rural Water Supply and Sanitation Project has delivered remarkable results: 190 kilometers of pipeline to distribution networks, water storage tanks with a total capacity of 3.48 million liters, and 166 public water points serving approximately 28,266 people across eight zones in Maseru and Berea districts.
Responding to King Letsie’s request, Dr. Adesina said the Bank will prioritize investments in primary healthcare centers across Lesotho.
“We will work on an integrated project that includes components of energy, a potential multi-partner $2.3 billion water transfer project from Lesotho through South Africa to Botswana, agro-value chains, and trade facilitation in Lesotho,” Adesina said after the meeting with King Letsie III.
The Bank is expected to support Lesotho in mobilizing approximately $260 million for the integrated water transfer project, which will supply 308 million cubic meters of water for domestic, agricultural, and industrial use through a 700 km pipe system. The project has the potential to generate up to 22 MW of hydropower.
Speaking earlier, Minister of Finance and Development Planning Retselisitsoe Matlanyane indicated that as Lesotho’s energy supply will exceed domestic demand by the end of 2026, the country intends to build a substation to export excess power production to South Africa. She reiterated Lesotho’s commitment to private sector-friendly policies and engagement.
The minister highlighted the importance of primary healthcare and nutrition investments to help combat extreme stunting in several parts of the country.
King Letsie is the African Union-appointed African Leaders for Nutrition champion. The initiative, spearheaded by the African Development Bank and championed by African leaders, works to galvanize political will and significant investments to end malnutrition on the continent.
Dr. Adesina also met with Prime Minister Samuel Ntsokoane Matekane; and the ministers of Foreign Affairs; Agriculture, Food Security & Nutrition; Natural Resources; Health; Communication, Science & Technology; and Education & Training.
The Bank’s delegation to Lesotho included its Executive Director for Lesotho, Dr. Nomfundo X. Ngwenya; Deputy Director General for Southern Africa, Moono Mupotola; and Senior Advisor to the President for Communication and Stakeholder Engagement, Dr. Victor Oladokun.
Ethiopian Airlines Group and African Development Bank sign Letter of Intent for financing of world-class Abusera International Airport
The African Development Bank and Ethiopian Airlines Group have signed a Letter of Intent for the development of the East African nation’s planned Abusera International Airport Project. The $7.8 billion project aims to address increasing passenger and cargo demands, reinforce Ethiopia’s position as a leading aviation hub, and stimulate regional economic growth.
Ethiopian Airlines
Chief Executive Officer of Ethiopian Airlines Group Mesfin Tasew Bekele signed the Letter of Intent with African Development Bank Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo, at the Bank’s headquarters in Abidjan on Friday, 14 March.
Bekele was part of the Ethiopian delegation led by Finance Minister Ahmed Shide. Other members were Adamu Tadele, CFO for Ethiopian Airlines Group; Tiguist Fisseha, Senior Advisor to the Finance Minister; Abraham Tesfaye, Infrastructure Director for Ethiopian Airlines Group; and Berhanu Anbessa, Head of IFIs at the Ethiopian Ministry of Finance.
The new world-class international airport will be situated in Bishoftu, about 40 km from the current Addis-Ababa Bole International Airport.
Multinational transportation is key to improving interconnectedness and free movement between countries and contributes to regional integration, one of the Bank’s High Five priorities. The new Abusera International Airport will complement Ethiopia’s recently expanded Bole International Airport, which is expected to reach its annual 25 million passenger capacity limit soon. The new infrastructure will enhance Ethiopian Airlines’ role in improving intra-Africa connectivity by enabling a more extensive and efficient network, and strengthening connectivity between Africa and the rest of the world.
At a meeting with the delegation, the President of the African Development Bank Group, Dr. Akinwumi Adesina, said, “I’m a great friend of Ethiopia, and of course, Ethiopian Airlines is Africa’s pride, a symbol of excellence and resilience. The African Development Bank is fully committed to supporting this transformative flagship project, which will strengthen the continent’s aviation leadership and economic integration.”
“Today’s signing of the Letter of Intent for the new mega airport development project is yet another testament to AfDB’s commitment to supporting Ethiopia’s ambitious flagship air transport project that will not only reinforce Ethiopian Airlines’ competitive edge in passenger and cargo services, but also enhance Africa’s global air connectivity and integration, solidifying the continent’s aviation hub status,” said Finance Minister Shide.
Ethiopian Airlines Group, Africa’s largest and most successful airline, is advancing its ambitious 2035 growth strategy, which emphasizes network expansion, infrastructure development, and human capital investment to enhance its global competitiveness.
In the last fiscal year, ending on 30 June 2024, the airline reported record revenues of $7.02 billion (over 402 billion Ethiopian Birr), reflecting a 14% year-on-year increase. It transported 17.1 million passengers, with 13.4 million on international routes and 3.7 million domestically.