See also:
» 08.02.2011 - Doing business in Africa "becoming easier"
» 06.04.2010 - Is computer learning becoming redundant in Africa?
» 22.03.2010 - "New roadmap for African rails"
» 17.03.2010 - Trade experts discuss ways to help poor countries
» 03.03.2010 - UNAIDS partner with rock icon to fight AIDS
» 25.02.2010 - Fight organised crime like a pandemic – Ban
» 23.02.2010 - UN ropes in private sector for gender equality
» 08.02.2010 - Study reveals sub-standard malaria medicines in Africa

China wholesale online through

Houlihan's coupons

Finn autentiske matoppskrifter fra hele verden på
Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares

Autentiske matoppskrifter fra hele verden finner du på
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike

Africa | Rwanda
Economy - Development | Society

Rwanda Minister new African Bank chief

afrol News, 21 July - Rwanda's Finance Minister Donald Kaberuka today in Tunis elected the new President of the African Development Bank Group (ADB) during the extraordinary Meeting of ADB Governors held in Tunis. The Rwandan Minister faced fierce competition from a Nigerian candidate.

54-year-old Minister Kaberuka today was elected the new leader of the influential regional finance bank ADB, which funds a large number of development projects around Africa. The bank headquarters currently are located in Tunis, after being forced to leave Abidjan, the war-torn financial capital of Côte d'Ivoire, some years ago.

Mr Kaberuka received 78.8 percent of the total votes and 68.2 percent of the African votes while Olabisi Ogunjobi of Nigeria polled 20.55 percent of the total votes and 30.74 percent of the African votes, in the seventh round of balloting. Mr Ogunjobi is Nigeria's Deputy Foreign Minister.

The two candidates had emerged the most popular after a thriller of a voting process. A total of six candidates from all over Africa had presented their candidacies. Government-sponsored candidates from Cameroon, Gabon, Ghana and Zimbabwe were left out of the race, one by one, until only the candidates from Rwanda and Nigeria remained.

The final election had been postponed following a stalemate at the 18-19 May annual meetings of the Bank Group held in Abuja, Nigeria, where no majority emerged, neither for the Rwandan nor for the Nigerian candidate. Since that, Rwanda's lobbying in favour of Mr Kaberuka obviously has been crowned with success.

The Rwandan Finance Minister represents one of Africa's most economically successful post-conflict regimes. While Rwanda still has many African enemies, Mr Kaberuka always could count on the non-African votes in the ADB, which hailed him for his economic successes in Rwanda. The Nigerian candidate was met with more scepticism by non-African representatives in the ADB board, reflecting Nigeria's poor economic record and poor reputation.

Mr Kaberuka will replace Omar Kabbaj of Morocco, who will complete his 10-year tenure at the Bank at the end of August. "The new President will be sworn in on 1 September 2005," ADB press spokesman Jerbi Narjes revealed in a statement today. With the Bank now being located in North Africa, it was seen as timely replacing the Moroccan leader with someone from sub-Saharan Africa.

- Create an e-mail alert for Africa news
- Create an e-mail alert for Rwanda news
- Create an e-mail alert for Economy - Development news
- Create an e-mail alert for Society news

    Printable version

On the Afrol News front page now

Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.

front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at