You’ve had a long day and could really use some relaxation. But who has time for a massage or a bubble bath these days? Luckily, there’s a tasty new way to unwind in just minutes. CBD gummies provide a convenient and delicious form of cannabidiol that can help you chill out and de-stress. In this article, we’ll explore the benefits of CBD gummies, how they work, and the best options to try for kicking back after a hectic day. With some CBD gummies on hand, relaxation and restoration are just a chew away. Keep reading to learn how these flavorful treats can bring on feelings of calm and help you maintain a sense of zen.

What Are CBD Gummies and How Do They Work?

CBD gummies are edible candies infused with cannabidiol, a compound found in cannabis plants. They come in fun shapes and colors, tasting like your favorite childhood treats, only now they have added benefits. Unlike medical marijuana, CBD gummies contain only trace amounts of THC, so they won’t get you high.

How CBD Works

When you consume CBD gummies, the CBD enters your bloodstream and interacts with your body’s endocannabinoid system. This system regulates functions like sleep, pain, mood, and appetite. CBD binds to endocannabinoid receptors in your brain and body, possibly helping to reduce inflammation and ease symptoms like anxiety, insomnia, and chronic pain.

Potential Benefits

While more research is still needed, initial studies show promising results for CBD gummies:

• They may help reduce anxiety and stress. CBD may alter the way your brain’s receptors respond to serotonin, the mood-regulating chemical messenger.
• They could relieve chronic pain. CBD may help reduce inflammation in the body and block pain signals from reaching the brain.
• They may improve sleep. CBD may help relax your body and mind, making it easier to fall asleep and sleep more soundly through the night.
• They may benefit heart health. CBD may lower high blood pressure and blood sugar levels, reducing the risk of health issues like stroke or heart attack over time.

CBD gummies offer a tasty and convenient way to experience the potential benefits of CBD. But as with any supplement, you’ll want to start low and go slow until you find the right dosage and product that works for you.

The Benefits of Taking CBD Gummies

CBD gummies offer some great benefits over other methods of taking CBD. For starters, they taste delicious! You get to enjoy the flavor of your favorite childhood treat while reaping the benefits of CBD. The effects of CBD gummies usually last 4 to 6 hours since the CBD is released slowly as the gummy is digested. This extended release allows for stable levels of CBD in your system over time.

Relief Without the High

CBD gummies contain little or no THC, so you won’t experience the intoxicating effects associated with marijuana. You can get relief from pain, anxiety, and inflammation without feeling high or impaired. CBD interacts with receptors in your body to reduce pain perception and ease anxiety, but it does not bind to the CB1 receptors in the brain that are responsible for the psychoactive effects of THC.

Convenient and Discrete

CBD gummies are convenient and discreet. You can easily take them with you on the go without raising eyebrows or drawing unwanted attention. Their fruity flavors and candy-like appearance mean that no one has to know you’re taking CBD.

Accurate Dosing

CBD gummies allow for accurate dosing since each gummy contains a pre-measured amount of CBD. They come in a variety of potencies, so you can choose a dose that suits your needs. Start with a lower dose and build up gradually as needed. The effects tend to be cumulative, so you may not notice benefits right away. But over days or weeks of consistent use, the CBD builds up in your system providing longer-lasting relief.

CBD gummies offer a tasty and convenient way to experience the benefits of CBD. With different potencies and fruity flavors available, you’re sure to find gummies that satisfy your needs and taste buds. Why not give them a try?

CBD Gummies FAQs: Your Top Questions Answered

Will CBD gummies get me high?

No, CBD gummies will not get you high. Unlike THC, the compound in marijuana that causes a psychoactive effect, CBD does not have intoxicating properties. CBD gummies and other edibles contain little to no THC, so you can enjoy the benefits of CBD without the high.

How long do the effects of CBD gummies last?

The effects of CBD gummies tend to last for 4 to 6 hours. The CBD is released slowly into your system as the gummy digests, so you may notice the effects start to fade after a few hours. The exact duration will depend on several factors, including the strength of the gummy and your body composition.

Can I take too many CBD gummies?

Yes, it is possible to take too many CBD gummies. Although CBD is considered non-toxic and safe, too much can lead to negative side effects like nausea, fatigue, and irritability. The recommended dosage for CBD gummies is usually around 10 to 25 milligrams once or twice per day. Start with a low dose and see how it affects you, then you can slowly increase the amount over time. Check the dosage recommendations on your CBD gummy packaging and do not exceed the maximum amount.

Do CBD gummies help with anxiety?

Many people take CBD gummies to help reduce anxiety and stress. CBD interacts with receptors in your brain and nervous system that influence your mood and stress levels. Early research shows promising signs that CBD may help alleviate symptoms of anxiety disorders like social anxiety disorder and PTSD. However, more research is still needed to fully understand the effects. If you struggle with anxiety, CBD gummies could help you feel calmer and more relaxed. Start with a low dose and monitor how you feel to find the right amount for you. But always talk to your doctor first before using CBD gummies to treat any medical condition.

Conclusion

So there you have it. CBD gummies offer a tasty and convenient way to experience the potential benefits of CBD for relaxation and unwinding. With so many options out there, take your time to find the right CBD gummies, dosage, and flavor that works for you. Start low and go slow as you get a feel for how CBD affects you. Be sure to consult your doctor if you have any medical conditions or take other medications. Overall, enjoy CBD gummies responsibly and see if they can help provide the chill vibes you’ve been looking for in your busy life. Relax, unwind, and sweet dreams!

You’ve probably heard about CBD gummies, but have you tried delta 8 gummies yet? These new cannabis edibles provide a mild high that’s legal in most states. If you’re curious about delta 8 THC and how it differs from regular marijuana, you’re not alone. Lots of people are buzzing about these trendy gummies that offer chill vibes without intense psychoactive effects. In this article, we’ll break down everything you need to know about the delta 8 craze. You’ll learn what makes these gummies unique, their potential benefits and drawbacks, and where you can find delta 8 products that are high-quality and compliant with regulations. We’ll also dish on the tastiest delta 8 gummy flavors and textures for the optimal edible experience. Get ready to get the buzz on the latest cannabis wellness trend that everyone is talking about!

What Are Delta 8 Gummies?

Delta 8 gummies are edible candies infused with delta 8 THC, a milder form of THC found in the hemp plant. Unlike the delta 9 THC in marijuana that can make you feel impaired, delta 8 THC produces a more calming, relaxing effect.

A Legal Alternative

Since the 2018 Farm Bill legalized hemp and hemp-derived cannabinoids, delta 8 gummies have become popular as a legal alternative to marijuana edibles. They contain less than 0.3% delta 9 THC, the psychoactive compound that produces a “high” feeling, keeping them compliant with federal law.

A Smooth, Relaxing Experience

With delta 8 gummies, you can experience the therapeutic benefits of THC in a mellow, controllable way. The effects tend to be more physically relaxing than mentally impairing. Many people use them to relieve symptoms like stress, anxiety, pain, and insomnia without feeling out of it.

The effects of delta 8 gummies usually last 4 to 6 hours. The experience is highly individual, but in moderate doses, most people feel a pleasant sense of calm and ease without severe intoxication. The gummies come in a variety of flavors and potencies, so you can start low and find the right balance for you.

A Budding Market

As word gets out about this hemp-derived compound, the delta 8 gummy market is growing fast. Reputable brands like 3Chi, Moonwlkr, and BudPop offer high-quality, lab-tested gummies in strengths ranging from 10mg to 50mg per gummy. They’re legal for purchase online and shipping to all 50 states.

If you want to enjoy the benefits of THC without the impairment, delta 8 gummies could be for you. But as with any cannabis product, moderation is key. Start with a low dose and see how it affects you before increasing. A happy, relaxing experience awaits!

The Benefits and Effects of Delta 8 Gummies

A Relaxed, Uplifted Feeling

Delta 8 gummies provide many of the same benefits as Delta 9 THC, the main psychoactive compound in cannabis, but with a slightly different effect. Delta 8 THC is known for producing an uplifted, clear-headed sensation along with a sense of relaxation in both the mind and body. Many find the effects to be mildly euphoric and mood-enhancing without the anxiety or paranoia sometimes caused by higher amounts of Delta 9 THC.

Pain and Inflammation Relief

In addition to the psychoactive effects, Delta 8 THC also acts as an analgesic and anti-inflammatory, providing relief from both chronic and acute pain. The gummies can help reduce inflammation in the body that leads to pain, especially for those suffering from conditions like arthritis or injuries. Many people have found Delta 8 gummies to be an extremely effective alternative to over-the-counter pain medications that often come with unpleasant side effects.

Better Sleep and Appetite

Delta 8 gummies may also help improve sleep and stimulate appetite. Delta 8 THC activates the CB1 receptors in the brain that govern the sleep-wake cycle and hunger cues. For those struggling with insomnia or a lack of appetite due to health conditions, Delta 8 gummies could help restore balance and provide relief from these issues.

With a clear, uplifting high and therapeutic benefits for both the mind and body, Delta 8 gummies offer an appealing new option for cannabis consumers looking for holistic relief and wellness. While the effects may be slightly muted compared to Delta 9 THC, Delta 8 gummies can provide many of the same benefits with less intensity and impairment. For a happy, healthy lifestyle with all of the perks of cannabis but none of the paranoia, Delta 8 gummies could be the answer.

Delta 8 Gummies FAQ: Your Top Questions Answered

What exactly are delta 8 gummies?

Delta 8 gummies are edible candies infused with delta 8 THC, a milder form of THC found in the hemp plant. Delta 8 provides a buzz similar to delta 9 THC but with less intensity. The gummies allow you to enjoy the effects of delta 8 in a tasty, convenient way.

Are delta 8 gummies legal?

Delta 8 gummies are legal under the 2018 Farm Bill as long as the delta 8 THC is derived from hemp and contains less than 0.3% delta 9 THC. However, some states have banned delta 8, so check your local laws. Reputable brands will provide third-party lab tests proving their gummies meet legal requirements.

How do the effects of delta 8 gummies compare to delta 9 edibles?

Delta 8 gummies tend to produce a milder high than delta 9 edibles. The effects are usually described as calming and relaxing rather than intensely psychoactive. Delta 8 can still cause impairment, but the effects may be less anxious or disorienting for some. The duration of effects is also slightly shorter, around 4 to 6 hours.

What dosage should I start with?

It’s best to start low and go slow with delta 8 gummies. Most reputable brands recommend starting with half of one gummy, which usually contains around 10 to 20 milligrams of delta 8. Wait at least 2 hours to gauge the effects before taking more. You can increase the dosage gradually in small increments until you find your sweet spot.

Are there any side effects I should be aware of?

Potential side effects of delta 8 gummies include dry mouth, red eyes, dizziness, and drowsiness. Delta 8 can also cause munchies and temporary short-term memory impairment. Drinking plenty of water and avoiding operating heavy machinery is advised. Delta 8 may interact with some medications, so check with your doctor if you have any concerns.

Delta 8 gummies can be an enjoyable way to experience the benefits of delta 8 THC. But as with any cannabis product, moderation and safety are key. Start low, go slow, and listen to your body to find what works for you.

Conclusion

You’ve got the lowdown on Delta 8 gummies now. Whether you’re looking to chill out or get creative, there’s likely a formula out there that will give you the experience you want. Just remember to start low and slow with dosing – you can always take more, but you can’t take less once it’s in your system. Be sure to buy from a reputable company and check your local laws too. With some care and common sense, Delta 8 edibles can be an enjoyable way to enhance activities or just relax after a long day. Hopefully this has given you a helpful overview so you can decide if Delta 8 gummies are right for you!

Dynamic Afrobeats duo Owan & Larbi have released their latest single Lonely at the Bottom on 30^th May 2024. This record is their follow up to their last release Waka Waka that continues it good reception till date. 

Audio link: https://tiememusicdistro.lnk.to/LonelyAtTheBottomLATB

“Lonely At The Bottom” is the first single of the year from the rising Ghanaian Afrobeats duo Owan & Larbi. “LATB” is what happens when you blend an alternative hip hop song with the traditional drums and rhythmic pulse of Afrobeats and acoustic guitar strings from indie pop. It is an Afrobeats song packed with heartfelt lyrics about the difficulties of life and how they shape outcomes. One minute you are with your peers journeying to the top only to see yourself left behind in the next, all alone at the bottom. LATB delves into the depths of these down times in life and how disheartening and maddening they can be but offers a hand of hope to keep fighting. Regardless of the setbacks, there is always a way out of these pitfalls. 

“LATB” is an eclectic fusion, with Owan & Larbi’s crooning vocals tying it all together with stellar production from the talented DXX Beat. It is a Ghanaian youthful street motivation song for when you are in your low moments, during workouts, long bus rides, and thoughtful moments. 

“Lonely At The Bottom” Is the second single off the duo’s upcoming EP titled “Here’s To New Beginnings”. The single is out on all digital streaming platforms for your listening pleasure.

African economies remain resilient, despite challenges that are testing economies worldwide. According to the latest African Development Bank Group’s African Economic Outlook, 41 countries on the continent are projected to experience stronger growth rates in 2024 than they did in 2023.

The report unveiled at the Bank’s Annual Meetings on Thursday in Nairobi, described Africa’s growth potential as ‘remarkable’. The continent will retain its 2023 ranking as the second fastest-growing region after developing Asia in 2024 and 2025. The theme of the 2024 AEO, “Driving Africa’s Transformation: The Reform of the Global Financial Architecture,” aligns with the Bank’s Annual Meetings’ theme.

African Development Bank President Dr Akinwumi Adesina said while the Bank was proud of the growth projections of many African countries as reflected in the report, it was not blind to the challenges. “Africa’s future is bright, but need to make sure we tackle governance, transparency, accountability, and management of our natural capital. We need to make sure resources are used for the benefit of the people of this continent… The kind of resilience we are talking about cannot happen unless we deal with the issue of climate change.”

He added: “We must make sure we are investing in our young people—in their skills, talents, entrepreneurship, and giving them tools. That is why I am excited about what we are doing with the Youth Entrepreneurship Investment Banks.”

The report warns that Africa is off track to meet almost all of the Sustainable Development Goals by 2030.

It argues that unless corrective action is taken, including to reverse the steepening poverty curve, Africa will be home to almost 9 out of 10 (or 87%) of the world’s extreme poor by 2030.

Read Also: AfDBAM2024: African Leaders Join African Development Bank’s Call for Action to Reform the Global Financial Architecture

According to the African Economic Outlook, the rebound in Africa’s average growth includes a rise to 3.7% in 2024 and 4.3% in 2025, exceeding the projected global average of 3.2%. Of this figure, 17 African economies are projected to grow by more than 5 percent in 2024. The number could rise to 24 in 2025, as the pace of growth accelerates.

This growth trajectory is expected to surpass pre-2023 levels, with East Africa leading as the fastest-growing region (up to 3.4 percentage points). Other regions are also projected to witness moderate to robust growth.

In a presentation, Chief Economist and Vice President of the African Development Bank, Prof Kevin Chika Urama, underscored why strategic policies and firm political commitment are key to the effective use of resource wealth for domestic revenue generation.

He also described hard infrastructure, including roads, railways, and bridges, and soft infrastructure, including knowledge and institutional governance capacity, as “two wings of an aircraft”.

“Investing in productive infrastructure is key to accelerating Africa’s structural transformation,” he said.

Growth performance and outlook by region:

Growth prospects vary across Africa’s regions, reflecting differences in economic structure, commodity dependence, and policies.

East Africa

East Africa, the continent’s fastest-growing region, will see real GDP growth rising from an estimated 1.5% in 2023 to 4.9% in 2024 and 5.7% in 2025. The downward revision of 0.2 percentage point for 2024 compared with the forecast in the January 2024 Africa’s Macroeconomic Performance and Outlook (MEO) is due to larger-than-expected contractions in Sudan and South Sudan following the ongoing conflict in the former.

Central Africa

Growth in Central Africa is forecast to moderate from 4.3% in 2023 to 4.1% in 2024 before improving strongly to 4.7% in 2025. The upgraded forecast is due to expectations of stronger growth in Chad and the Democratic Republic of Congo as a result of favourable metal prices.

West Africa

Growth is projected to pick up in West Africa, rising from an estimated 3.6% in 2023 to 4.2% in 2024 and consolidating at 4.4% the following year. This is an upgrade of 0.3 percentage point for 2024 over the January MEO 2024 projections, reflecting stronger growth in the region’s large economies—Côte d’Ivoire, Ghana, Nigeria, and Senegal.

North Africa

In North Africa, growth is projected to decline from an estimated 4.1% in 2023 to 3.6% in 2024 and 4.2% in 2025, with a downward revision of 0.3 percentage point for 2024 from the January 2024 MEO. Except for Libya and Mauritania, growth has been revised downward for all other countries in the region.

Southern Africa

Growth in Southern Africa is projected to pick up slightly from an estimated 1.6% in 2023 to 2.2% in 2024 and firm up to 2.7% in 2025. The growth rates for 2024 and 2025 show an upgrade of 0.1 percentage point over the January 2024 projections, mainly reflecting a 0.7 percentage point increase in South Africa’s projected growth. Due to South Africa’s larger weight in the region, the upgraded growth forecast offset the combined effect of downward revisions in Angola, Botswana, Lesotho, Zambia, and Zimbabwe.

African Economic Outlook makes bold proposals to reform the global financial architecture

The African Economic Outlook 2024 calls for an overhaul of the global financial architecture to transform African economies.   This includes giving Africa a greater voice in multilateral development banks and international financial institutions, reflecting its growing share of global gross domestic product and rich natural resources.

Adesina said, “Let’s be clear. By seeking to transform the global financial architecture, Africa is just asking for a fair share of access and availability of resources to build on our vast economic opportunities.”

The report highlights the glaring inadequacies of the current global financial system in closing Africa’s financing gap for structural transformation, estimated at US$402.2 billion annually between now and 2030. To rectify these disparities, the report proposes a bold agenda for reforming the global financial architecture, including in the five following key areas:

Leveraging Private Sector Financing: The African Economic Outlook advocates for greater private sector participation to complement public investments, particularly in areas with high social returns such as climate action and human capital development.

Simplifying the Global Climate Finance Architecture: The report calls for streamlining the global climate finance architecture to enhance coordination and facilitate access for African countries, which are disproportionately affected by climate change.

Reforming Multilateral Development Banks (MDBs): The AEO urges MDBs to revise their business models to provide long-term concessional financing at scale, to developing countries, bolstering their capital positions, channeling a portion of IMF’s Special Drawing Rights (SDRs) to MDBs and ensuring a healthy replenishment of the concessional windows of the African Development Bank and the World Bank—the African Development Fund and the International Development Association.

Streamlining Debt Resolution Mechanisms: Recognizing the slow and cumbersome nature of existing debt resolution mechanisms, the African Economic Outlook advocates for reforms to expedite debt workouts and ensure sustainable debt management, including innovative market-based solutions like “Brady bonds,” debt relief for climate purposes, and sovereign debt authority systems.

Enhancing Domestic Resource Mobilization: The report emphasizes the importance of strengthening domestic revenue mobilization through improved tax policies, enhancing efficiency in government revenue collection and utilization, combatting illicit financial flows and tax avoidance, and leveraging Africa’s abundant natural resources.

According to the report, “Domestic resource mobilization is good, but so is the prudent use of such resources. Countries should therefore strengthen capacity to improve public finance management”

Every year, the African Economic Outlook report provides timely evidence and analysis crucial for African policymakers, empowering them to make informed decisions.

The Pan African International Students (PAIS) is deeply concerned by the recent video circulating on social media depicting Ghanaian students in Morocco struggling due to a lack of support from the Ghanaian government. These students, sent to Morocco on government scholarships, are facing dire circumstances, lacking basic necessities like food and shelter.

A female student in the video poignantly expressed their hardship: “We are pleading with the Government of Ghana to come to our aid. As ladies here, we cannot afford basic needs like sanitary pads…” Unable to hold back tears, her statement spoke volumes about the students’ plight.

“It is heartbreaking to see these brilliant young Ghanaians struggling to meet their fundamental needs,” says Apostle Aheto Jacob-Paul, National Coordinator of PAIS Ghana. “The video, where a female student tearfully pleads for sanitary pads, exemplifies the dire situation they face.”

PAIS, dedicated to the well-being and success of international students, particularly across Africa, stands in solidarity with these distressed students. We urge the Ghanaian government to take immediate action and address these critical issues. PAIS remains committed to supporting these students in any way possible, building upon our existing efforts towards the welfare of international students in Ghana and Kenya since our launch last year.

The Pan Africa International Students (PAIS) movement is a Kwiverr initiative designed to empower and mobilize African students studying abroad. Launched by this global youth organization, PAIS aims to cultivate a new generation of leaders who will drive positive change across Africa and beyond.

PAIS integrates Christian faith into its programs, encouraging students to approach their studies and future careers with compassion, love, and a strong sense of purpose. The movement also fosters a missional mindset by providing opportunities for cultural exchange and civic engagement. PAIS believes that Africa’s future is bright and that these young leaders, equipped with knowledge, faith, and a commitment to serving their communities, will be instrumental in shaping a brighter tomorrow.

With $200 billion invested in development projects across the continent since its establishment in 1964, the African Development Bank Group is leading the charge in transforming Africa’s development landscape, as a solutions bank.

At the institution’s 2024 Annual Meetings in Nairobi, six African Presidents joined the Group’s President Dr. Akinwumi Adesina’s call for action to reform the global financial architecture to unlock more resources to scale up Africa’s economic transformation.

The Annual Meetings bring together the Bank Group’s governors representing 54 African countries and 27 non-African shareholders.

Kenya’s President William Samoei Ruto emphasized the need for change, saying, “Today, we assert that transforming the international financial architecture is imperative to give Africa a fair chance to turn its immense potential into opportunities to overcome multiple challenges and develop inclusively and sustainably.”

Read Also: AfDBAM2024: Mobilizing funding to support the African private sector

In a show of support for the Bank’s efforts, President Ruto announced that Kenya will spend $100 million over the next three years to increase its shareholding in the African Development Bank, Afreximbank and Trade Development Bank. Additionally, he announced a commitment of $20 million to the African Development Fund, the Bank Group’s concessional window, “as a demonstration of Kenya’s confidence [in the Fund].”

President Ruto praised the commitment of the Bank Group to infrastructure development in Kenya, saying, “Kenya is among the beneficiaries, in a very big way, of the African Development Bank’s financial might, and its innovative financing of projects.”

He cited four Bank Group-financed projects as testament to this commitment: the construction of the Nairobi–Thika Superhighway; the construction of the Thwake Multipurpose Dam, Kenya’s biggest; the completion of water and sanitation projects in 28 Kenyan cities, and a last-mile connectivity project that has provided electricity to more than 10 million households.

Vote of confidence

President Ruto also expressed Kenya’s support for the channeling of IMF Special Drawing Rights (SDRs) through multilateral development banks, a move that the African Development Bank together with the Inter-American Development Bank has championed, with success.

Several heads of state attended the opening ceremony of the Annual Meetings on Wednesday and participated in subsequent presidential dialogues. They included President Denis Sassou Nguesso of the Republic of Congo, Rwanda’s President Paul Kagame, Zimbabwe’s President Emmerson Dambudzo Mnangagwa, the President of the Presidency Council of the Government of National Unity of the State of Libya Mohamed Younis al-Menfi, Somali President, Hassan Sheikh Mohamoud, and African Union Commission Chairperson Moussa Faki Mahamat.

Close to 5,000 delegates are attending the Bank’s Annual Meetings, including heads of multilateral development banks, diplomats, development partners, representatives of civil society organizations and the private sector.

In his keynote address, Adesina highlighted the impact of the Bank’s investments across Africa through its High 5 priorities of Light up and Power Africa; Feed Africa; Integrate Africa; Industrialize Africa and Improve the quality of life for the people of Africa. Over the last eight years, the Bank’s investments have impacted more than 400 million people

Record investments

“In 2023, our financing totalled over $10 billion, across all our High 5 priorities,” he said, adding, “In the past nine years, we have invested well over $50 billion in infrastructure projects on the continent, by far the largest investment of any multilateral development bank or institution.”

Adesina listed several innovative initiatives to demonstrate the Bank’s role as a catalyst for change, driving Africa’s transformation through record investments and partnerships. He highlighted the $10 billion Alliance for Green Infrastructure in Africa (AGIA), a groundbreaking partnership with Africa50 and the African Union, aimed at accelerating the development of sustainable infrastructure projects. This initiative is set to drive the continent’s transition towards a greener and more resilient future.

Adesina also emphasized the Bank’s commitment to supporting the digital economy, citing the $618 million i-DICE program in Nigeria, that will create 6 million jobs and add $6.4 billion to the economy.

Catalyzing Inclusive Development

The Bank’s Affirmative Finance Action for Women (AFAWA), in partnership with the Africa Guarantee Fund, has financed more than 18,000 women-owned businesses, providing them with the capital and support needed to thrive in their respective markets. “By the end of this year, AFAWA would have reached $2 billion in support for up to 30,000 women-owned small and medium sized enterprises,” Adesina said.

Last year, the Bank established Youth Entrepreneurship Investment Banks to provide financial and technical support to businesses owned by youth. The Bank’s Board of Directors has already approved $16 million for Liberia and $12 for Ethiopia to set up Youth Entrepreneurship Investment Banks. More countries have applied to join the initiative.

In eleven African countries—Côte d’Ivoire, Ethiopia, Guinea, Kenya, Mali, Mozambique, Nigeria, Senegal, Tanzania, Togo, and Zambia—the Bank, together with partners, is establishing Special Agro-Industrial Processing Zones (SAPZs), designed to transform Africa’s agricultural sector by creating value-addition hubs.

Mobilizing Financing, Deepening Reforms

Dr. Muhammad Sulaiman Al Jasser, Islamic Development Bank Group President, outlined the benefits of a longstanding cooperation with the African Development Bank. “Between 2017 and 2023, we achieved a record co-financing volume of $2.9 billion with the African Development Bank, enabling us to co-finance 22 operations across diverse sectors,” he said, adding that both banks have recently set new co-financing targets, to deliver greater impact.

African Development Bank Group Boards of Governors’ Chairperson and Cabinet Secretary of the National Treasury of Kenya, Prof. Njuguna Ndung’u urged Governors to “deepen discussions” on growing the Bank’s callable capital. “This will protect the Bank’s triple A rating on sustainable basis against recurrent external shocks, including downgrade of its triple A rated shareholders [and] enable the Bank maintain its lending trajectory and preserve its position as a strategic lender and the premier development finance institution in Africa.”

The African Union Commission Chairperson Moussa Faki Mahamat described the 2024 Annual Meetings as “an appropriate forum” for kickstarting “the process of formulating and working out the African common position on strategic issues” such as the reform of the Bretton Woods system, debt management, climate change financing, and the international tax system.

Leaders also stressed the urgency of mobilizing financing to build climate-resilient African economies. The Bank, Adesina said, “is well on its way to reaching its goal of mobilizing $25 billion in climate finance, and last year we devoted 45% of our total lending to climate finance.”

Strong financial position for greater impact

The only AAA-rated financial institution in Africa, the Bank’s financial records for 2023 put the Bank in an optimal position to better serve Africa and create more significant impact in the continent’s development. Its income from loans and treasury investments increased by 123% from $775 million in 2022 to $1.73 billion in 2023. The Bank also achieved its largest-ever net income before distributions, amounting to $545 million, and allocated a record-high $335 million to reserves.