News
AfDB to build new headquarters in Abidjan
The African Development Bank Group (AfDB) has said it would construct a new state-of-the-art headquarters building in Abidjan, Côte d’Ivoire.
AfDB said this in a statement on Tuesday that the decision was approved by the bank’s Boards of Directors.
The bank emphasised the importance of maintaining a strong presence in the country and providing a modern work environment for its members of staff.
The group added that its President, Dr Akinwumi Adesina, had received the title deed of the site hosting the institution’s headquarters building in Abidjan from the Dean of the Bank’s Boards of Directors, Adama Koné.
It also noted that the Group’s Boards of Directors approved, on Dec.16, the proposal by the bank’s management to construct a modern state-of-the-art building to host its headquarters in Côte d’Ivoire’s commercial capital, Abidjan.
The group explained that executive directors unanimously approved the proposal, stating it was important for the bank to maintain its strong presence in Abidjan and to invest in a work environment that supports the well-being of its staff.
Its President, Akinwumi Adesina, applauded the decision of the Boards of Directors, describing the decision as “historic for the staff of the Bank, for the Bank itself, for Cote d’Ivoire and for Africa”.
According to the bank, it sends a clear message that the African Development Bank, as Africa’s premier financial institution, deserves a headquarters befitting its global reputation.
“This is a great day for the African Development Bank Group. It marks the realisation of a vision I had when I was elected as President in 2015 to work to put in place a suitable headquarters building for the Bank in Abidjan.
“This is to reflect our collective aspiration to enhance our overall business operations, staff and Board welfare, world-class workplace experience, enhanced productivity of the bank, as we accelerate the development of Africa,” said Adesina.
Rising on the site of the current headquarters, the new building will showcase architectural innovation through its energy-efficient design and advanced security features, marking a new chapter in the AfDB’s presence in Abidjan.
The new headquarters building will also provide enhanced facilities to receive and interact with its shareholders and stakeholders, while aligning the bank’s work environment with its commitment to green growth, energy efficiency and safety.
The Dean of the bank group’s Boards of Directors, Adama Koné, who is the executive director representing Cote d’Ivoire on the board, presented the approved title deed for the site by the government to Adesina.
Adesina expressed gratitude to President Alassane Ouattara of the Republic of Cote d’Ivoire and the government for their strong support of the bank.
He noted, “The decision taken today by our Boards of Directors shows the bank is here to stay permanently in Cote d’Ivoire, our home, for today and in the future.
“We look forward to the strong support of the Government of Cote d’Ivoire as we embark on this historic landmark project.” (NAN)
The Supreme Court has overturned the Court of Appeal’s decision that recognised Julius Abure as the National Chairman of the Labour Party (LP). In a decisive ruling, a five-member panel declared that the Court of Appeal lacked the legal authority to determine the party’s leadership matters.
In a unanimous verdict, the highest court in the land stated that the Court of Appeal had no jurisdiction over the matter. The panel observed that since the case revolved around the internal leadership structure of the Labour Party, it fell outside the jurisdiction of the courts.
The ruling reinforced the long-standing principle that leadership disputes within political parties should be resolved internally, rather than through judicial intervention.
The Supreme Court stressed that leadership struggles within political parties are purely internal matters. According to legal principles, courts should not interfere in such issues, as they fall under the party’s constitution and governance framework. By upholding this legal doctrine, the apex court reaffirmed that political parties must settle their leadership crises independently.
The Supreme Court upheld the appeal lodged by Senator Nenadi Usman and a fellow appellant, ruling that their claims were valid. Their appeal challenged the earlier judgment, arguing that it was flawed due to jurisdictional overreach. After thorough legal scrutiny, the Supreme Court found merit in their argument and ruled in their favour.
The legal battle also involved a cross-appeal filed by supporters of Julius Abure, who sought to challenge the decision against their leader. However, the Supreme Court dismissed this cross-appeal, declaring it unsubstantiated and lacking merit. The ruling effectively ended the legal contest over the Labour Party’s chairmanship, cementing the judiciary’s stance on non-interference in party leadership disputes.
Bitcoin experienced sharp fluctuations following President Donald Trump’s April 2 tariff announcement, initially surging to $88,000 before dropping to $82,000.
By April 3, it stabilized around $83,000, with the broader crypto market down over 4%. Major altcoins like Ethereum and Solana also declined over 6%, hitting multi-month lows.
Analysts see the tariff news as reducing market uncertainty, potentially attracting institutional investors.
Despite higher-than-expected rates, experts believe the clarity could help Bitcoin regain momentum toward $90,000. Bitcoin ETFs, led by BlackRock, recorded $218 million in inflows on April 2, reversing prior outflows.
Kraken’s Thomas Perfumo challenged the idea that institutional interest stabilizes crypto, emphasizing that volatility signals demand for a scarce asset.
Some analysts viewed the sell-off as an overreaction to trade policy concerns, highlighting Bitcoin’s resilience as a store of value.
With ETFs showing strong demand, Bitcoin’s price may stabilize and rise, though market participants remain cautious, monitoring trade policies and economic conditions.
Violent clashes between pastoralist groups and settled farming communities have long been a challenge in South Sudan.
However, the recent outbreak of violence in the northern Ruweng Administrative Area has further heightened concerns over the nation’s fragile peace. At least 30 people lost their lives after an armed youth group launched a brutal attack on a northern South Sudanese town, according to local officials.
The incident, linked to an escalating cattle raid, saw the town briefly fall under the control of the attackers before security forces regained control.
The violence began when a group of armed youth stole lambs earlier in the week. Security forces quickly intervened, forcing the raiders to retreat. However, instead of dispersing, the group reorganised and launched a more aggressive attack on Abiemnom the following day.
Local Minister of Information, Simon Chol Mialith, confirmed that despite resistance from local youth and security personnel, the town was overrun by the Mayom armed youth. The attack led to significant casualties and destruction before security forces were able to reclaim the town.
On Wednesday, the South Sudan People’s Defence Force (SSPDF) successfully pushed the attackers out, restoring a semblance of calm. However, the scale of the destruction was already severe, with over 40 individuals injured in addition to the fatalities.
Although reports suggest that some of the deceased were members of the armed groups, official confirmation remains pending.
The attack comes at a time of growing instability in South Sudan, with tensions between forces loyal to President Salva Kiir and First Vice President Riek Machar intensifying. This political rivalry threatens to unravel the delicate 2018 peace agreement that ended the nation’s five-year civil war.
Since gaining independence in 2011, South Sudan has struggled with continuous unrest. Despite its vast oil resources, the country remains impoverished, with conflicts like these exacerbating economic and social difficulties.