Latest stories tagged “World Bank”
The World Bank and the African Development Bank (AfDB) have successfully connected over 50 million people to electricity through their Mission 300 initiative, which spans 40 African countries. This effort aims to accelerate electricity access across the continent.
The Zamfara State Government announced that it is utilizing funds from the World Bank’s State Enabling Business Environment Reforms (SABER) Programme for state development. This information was shared by Governor Dauda Lawal, represented by Deputy Governor Mallam Mani Mummuni, during the Presidential Enabling Business Environment Council (PEBEC) national town hall and state engagement tour.
The World Bank has indicated that the economic recovery in Sub-Saharan Africa is losing momentum, projecting a growth rate of 4.1 percent for 2026, the same as in 2025. This figure represents a downward revision of 0.3 percentage points from a previous forecast of 4.4 percent, as noted in the latest Africa Economic Update released in April.
A new World Bank assessment indicates that artificial intelligence (AI) has the potential to reshape the global economy and enhance growth, particularly as global markets face challenges such as geopolitical tensions, declining productivity, and a fragile recovery from the pandemic. The report highlights the transformative impact of AI amidst these ongoing economic issues.
The World Bank has reported that nearly half of developing economies are struggling to achieve economic growth, despite the global economy moving past the immediate disruptions caused by the pandemic. The findings were published in the World Bank's June report, highlighting ongoing challenges for these nations in their recovery efforts.
The World Bank and S&P Global Market Intelligence have ranked the Port of Cape Town as the worst container port in the world, highlighting significant issues in its operations and efficiency.