Australia Business – Intelligent Monitoring Group Announces Full Year Report & WA Acquisition

Source: Bourse Communications

 Revenue up 43.6% & Adjusted EBITDA up 19.3%

Intelligent Monitoring Group Limited (“IMG” or the “Company”) is pleased to provide the following update.

IMG has today released its Appendix 4E and Preliminary Full Year Report for the year ended 30 June 2025.

Results:

The Company highlights the following key results. Shareholders and investors should read the full report (following announcement) for details:

– Revenue up 43.6% to $174,878,000
– Gross Margin up 9.7% to $51,392,000
– Adjusted EBITDA up 19.3% to $38,370,000

·     Warrants exercised. In connection with refinancing of its then historic debt, IMG issued 18,742,991 warrants to its lenders in 2023.  The Company advises that these historic lenders have now exercised the warrants in accordance with the respective warrant deeds, and IMG has now issued 18,742,991 ordinary shares. The Company will shortly file an Appendix 2A relating to that share issue

·     Acquisition. IMG is pleased to announce the acquisition of Western Advance Pty Ltd (“WAPL”). WAPL is a long-standing and leading provider of security services in WA, and in particular to the Oil & Gas space. IMG has agreed to pay $4.5m, funded from operational cash flows, and this acquisition is expected to be immediately earnings accretive

About Intelligent Monitoring Group Limited

Intelligent Monitoring Group Limited (ASX: IMB) helps provide monitored security and IOT solutions that ensure the safety and protection of Australian businesses, homes, and individuals 24 hours a day, 365 days a year.

The Company operates with the highest security accreditation from its two-significant monitoring centres.

GROWTH STRATEGY

The Australian security industry remains highly fragmented, with no clear market leader.  

Given its stable revenue streams and fixed infrastructure cost model, the industry remains conducive to selective consolidation at attractive returns.

TECHNOLOGY A KEY DRIVER FOR CHANGE

Technology change (IOT & Ai) has created substantial opportunities to profitably extend the Company's existing skills into new complementary market areas and customer opportunities.

The use of Smart, High Resolution cameras, with monitoring capability will create substantial opportunities for growth in many industries over the coming decade. 'Cameras as alarms'

For more information please visit: https://intelligentmonitoringgroup.com

Energy Sector – New oil and gas discovery near the Troll field – Equinor

Source: Equinor

25 AUGUST 2025 – Equinor and partners have struck oil and gas in the Fram area, nine kilometres north of the Troll field in the North Sea.

One exploration well has encountered petroleum in two reservoirs. One of the discoveries consists of both oil and gas, while the other one is just gas. In total, the resources are estimated at between 0.1 and 1.1 million standard cubic metres. The reservoir properties are assessed as moderate to very good. The preliminary name of the discovery is F-South.

“These are discoveries in an interesting area with a well-developed infrastructure. In recent years, we have made several discoveries in the neighbourhood, and we plan to further explore the area. We believe that we may encounter more, both oil and gas,” says Geir Sørtveit, Equinor's senior vice president for Exploration & Production West on the Norwegian continental shelf.

The licensees will consider tying F-South back to existing or future infrastructure.

Facts:

The licensees are:

  • Equinor Energy AS: 45%
  • Vår Energi ASA: 40%
  • INPEX Idemitsu Norge AS: 15%

  • The well was drilled by COSL Innovator.
  • The discoveries were made in exploration well 35/11-31 S in production licence 090.
  • The other discoveries made in this area since 2019 are: Echino South, Swisher, Røver North, Blasto, Toppand, Kveikje, Røver South, Heisenberg, Crino/Mulder, Rhombi and Ringand.
  • Echino South and Blasto, together with two smaller discoveries from previous years, form the basis for the development of Fram South. The plan for development and operation of this subsea development was submitted to the authorities in June this year.

Every Sector – First CO2 volumes stored at Northern Lights – Equinor

Source: Equinor

25 AUGUST 2025 – The first CO₂ volumes have now been injected and successfully stored in the reservoir 2.600 meters under the seabed. The world’s first third party CO2 transport and storage facility is now in operation, contributing to reducing European greenhouse gas emissions.

The CO2 is transported via ships from Heidelberg Materials’ cement factory in Brevik. The CO2 is then offloaded and transported through a 100-kilometer pipeline and injected into the Aurora reservoir under the seabed of the North Sea.

“With CO2 safely stored below the seabed, we mark a major milestone. This demonstrates the viability of carbon capture, transport and storage as a scalable industry. With the support from the Norwegian government and in close collaboration with our partners, we have successfully transformed this project from concept to reality,” says CEO of Equinor, Anders Opedal.

The Northern Lights Joint Venture is equally owned by Equinor, Shell and TotalEnergies. Equinor, as the Technical Service Provider (TSP), has been responsible for the construction of the Øygarden facility and the offshore facilities on behalf of the Northern Lights JV, and will also have operational responsibility of the CO2 plant.

“Lifting new value chains like CO2 capture, transport and storage requires collaboration and effort across the value chain – from governments, industry and customers. With Northern Lights in operation, we have proven that this is possible. Now, we look forward to leading safe and efficient operations on behalf of the Northern Lights partnership and use this as a stepping stone for the further development of CCS in Europe,” says Irene Rummelhoff, Executive Vice President of MMP in Equinor.

The commenced injection of CO2 completes the phase 1 of the development, which has a total capacity of 1.5 million tonnes of CO2per year (mtpa). The capacity of this phase is fully booked.

In March, the owners of Northern Lights made the final investment decision for the phase 2 of the development, which will increase transport and storage capacity to a minimum of 5 million tonnes of CO2per year. This decision was made possible after signing of an agreement to transport and store up to 900,000 tonnes CO2 annually from Stockholm Exergi. The expansion is enabled by a grant from the Connecting Europe Facility for Energy (CEF Energy) funding scheme.

The expansion of Northern Lights builds on existing infrastructure and includes additional onshore storage tanks, a new jetty, and additional injection wells. The development of phase 2 with Equinor as TSP is well underway, with the delivery of nine new CO2 storage tanks at the Øygarden site this summer.

Equinor is already one of the largest CCS developers worldwide and has an ambition of having 30-50 million tonnes per annum of CO2 transport and storage capacity by 2035. To achieve this, Equinor is working on several CCS projects in Europe and the US. These projects require a conducive policy framework and collaboration between governments, industry, customers and regulators.

About Northern Lights

  • Northern Lights JV is a registered, incorporated General Partnership with Shared Liability (DA), equally owned by Equinor, TotalEnergies and Shell.
  • The first phase of Northern Lights is part of Longship, the Norwegian Government’s full-scale carbon capture and storage project. Northern Lights is focusing on the transport and storage aspects of the value chain. Captured and liquefied CO2 from customer’s sites is transported by ship to the onshore receiving terminal at Øygarden.
  • From the terminal, CO2 is transported via pipeline to a storage in a reservoir 2,600 meters under the seabed in the North Sea.
  • The Norwegian government is providing substantial financial support, covering approximately 80% of the cost for the phase 1 of the Northern Lights project.
  • The Phase 2 expansion of Northern Lights received €131 million from the EU funding programme Connecting Europe Facility for Energy (CEF Energy) in June 2024.
  • The Northern Lights facility includes a receiving terminal, an injection pipeline and subsea installations.
  • Equinor as the Technical Service Provider (TSP has led the construction of the onshore plant at Øygarden and the offshore facilities on behalf of Northern Lights JV and its partners. Equinor will also have operational responsibility for the CO2 plant at Øygarden.

Australia Appointments – CBA appoints Belinda Allen as Head of Australian Economics

Source: Commonwealth Bank of Australia (CBA)

Vivek Dhar and Adam Donaldson appointed to newly created leadership roles, providing actionable insights to help customers navigate a rapidly changing environment.

The Commonwealth Bank (CBA) is delighted to announce the appointment of Belinda Allen as its new Head of Australian Economics. Belinda will be responsible for developing the Bank’s Australian economic forecasts, views on the Reserve Bank of Australia cash rate, while continuing to leverage CBA’s internal data assets to derive insights on the Australian economy.

Belinda currently serves as a Senior Economist within CBA’s Global Economic and Markets Research (GEMR) team, having joined the Bank in 2017. With extensive experience as a financial markets economist, Belinda has a long track record delivering insightful analysis and commentary on the Australian economy and financial markets.

“Belinda has established herself as a trusted and authoritative voice on the Australian economy over a long period of time. I’m delighted to announce her appointment as CBA’s Head of Australian Economics,” said Luke Yeaman, Chief Economist at CBA.

“Her deep expertise will be instrumental as we continue to lead the national conversation on key economic issues and leverage the Bank’s unique data capabilities to generate meaningful insights for customers.”

Commenting on her appointment, Ms Allen said: “It’s an honour to take on the role of Head of Australian Economics at CBA. I’m excited to lead our talented team in delivering timely, actionable insights, informed by key economic indicators and the Bank’s unique and comprehensive financial data set.”

Before joining CBA, Belinda spent over a decade at Colonial First State Global Asset Management (now First Sentier) where she held the role of Senior Analyst in the Economic and Market Research team. She holds a Bachelor of Economics and a Bachelor of Applied Finance from Macquarie University and is a CFA charterholder.

Vivek Dhar, Adam Donaldson appointed to newly created leadership roles

The appointment of Belinda Allen forms part of a broader refresh of CBA’s GEMR structure, which now comprises four teams.

Vivek Dhar has been appointed into the newly created Head of Commodities and Sustainable Economics role, reflecting the increasing influence of energy markets and the net zero transition on industries and markets. Vivek will lead the continued growth of CBA’s sustainability research offering and the development of forecasts for major commodities, including gas and electricity prices.

Based in Singapore, Vivek has worked as Commonwealth Bank’s lead mining and energy commodities strategist since late 2014.

Adam Donaldson has been appointed to the newly created position as Head of Market Strategy and Rates Research, joining from CBA’s Global Markets team. Adam will be responsible for developing and communicating integrated strategic insights related to Australian, New Zealand and global financial markets.  He will also lead the development of views on funding markets, swaps and various bond markets and yield curves.

Joseph Capurso will continue as Head of International Economics and Foreign Exchange, responsible for developing CBA’s forecasts for the major global economies, central bank policy and currencies. Joe will also have responsibility for expanding CBA’s geoeconomic research, reflecting the increasingly complex global environment.

“The refresh of our GEMR team underscores our commitment to delivering sharp, actionable insights for our customers. The creation of four dedicated teams reflects the need to help our customers navigate the increasingly complex and evolving economic landscape,” said Mr Yeaman.

Energy Sector – Announcement of cash dividend of NOK 3.7740 per share for first quarter 2025

Source: Equinor

25 AUGUST 2025 – Equinor ASA announced on 30 April 2025 a cash dividend per share of USD 0.37 for first quarter 2025.

The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 19 August 2025, in total seven business days.

Average Norges Bank fixing rate for this period was 10.1999. Total cash dividend for first quarter 2025 of is consequently NOK 3.7740 per share.

On 29 August 2025, the cash dividend will be paid to relevant shareholders on Oslo Børs (Oslo Stock Exchange) and to holders of American Depositary Receipts (“ADRs”) on New York Stock Exchange.

This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Universities – From the soil with love: How microbes influence our bodies and minds – Flinders

Source: Flinders University

Flinders University experts are exploring evidence that microbes in the soil and the environments around us can affect human microbiota and the ‘gut-brain axis,’ potentially shaping emotional states and relationship dynamics – including aspects of romantic love.

 

College of Science and Engineering biology researchers Dr Jake Robinson, Ondi Crino and Associate Professor Martin Breed, with UK neuroscientist Araceli Camargo, outline the idea in a review article proposing how the human gut microbiome might influence hormonal pathways involved in emotions commonly associated with love.

 

“We’re not claiming microbes ‘cause’ love,” says Dr Robinson. “Our aim is to map plausible biological routes, grounded in microbiology and endocrinology, that researchers can now evaluate with rigorous human studies.”

 

The mini-review, published in an American Society for Microbiology journal, synthesises evidence that microbes can modulate hormones and key neurotransmitters such as dopamine, serotonin and oxytocin.

 

“We are exploring how the evolutionary underpinnings of microbial-endocrine interactions could provide important insights into how microbes influence emotions beyond love, including hate and aggression.

 

“If these pathways are confirmed, the findings could open avenues for microbiome-informed strategies to support mental health and relational wellbeing. For now, it provides a roadmap for careful, hypothesis-driven science.”

 

As part of his research, Dr Robinson and colleagues are also mapping the complex web of interactions between biological, environmental and social systems – focusing on the potentially powerful role of soils in this network.

 

“As well as emitting important chemical and microbial signals, healthy soils support vegetation that improves air quality, buffer noise and moderate temperature to create immersive environments that affect our nervous, endocrine and immune system,” adds Associate Professor Breed.

 

“Conversely, soil degradation can increase unhealthy airborne particulates and reduce the richness of the aerobiome, with possible downstream effects on inflammation and mental wellbeing.”

 

Dr Robinson, the author of nature ecology books Invisible Fri

Human Rights – Taro Leaf Becomes a Symbol of Rohingya’s Push Against Erasure – MSF

Source: Medecins Sans Frontieres (MSF)

25 August 2025: Marking eight years since more than 700,000 Rohingya people fled to Bangladesh, the launch of a taro leaf symbol today highlights the community’s refusal to be forgotten.

Inspired by the Rohingya proverb “Hoñsu Fathar Faaní” (“water leaves no trace on a taro leaf”), which speaks to the way water slides off the leaf leaving no mark – a metaphor for invisibility and displacement. Rohingya artists, diaspora leaders, and allies came together to create a set of taro leaf symbols through workshops. The taro leaf symbol will be shared with community groups, institutions and advocacy organisations worldwide to mark Rohingya presence and resistance against erasure.

In June 2025, after three years of community co-design across Kuala Lumpur, Chicago, Sydney, Johannesburg, and Cox’s Bazar, Rohingya and Australian artists created seven taro leaf designs, along with an animation, a poem, a folk story and the Meeras statement — a collective declaration of survival and identity.

This work led to the creation of the Creative Advocacy Partnership (CAP), reframing humanitarian engagement to move beyond aid alone and support Rohingya-led advocacy and strength-based community engagement. CAP’s message is clear: the Rohingya are not faceless victims but a people with culture, dignity and aspirations; the taro leaf symbol speaks to the emotional and political toll of statelessness; and after eight years in limbo, the community is calling for durable solutions — not just shelter, but a future with rights and dignity.

The taro leaf has become a powerful metaphor for the Rohingya experience of statelessness — where people are denied nationality, excluded from basic rights, and pushed to the margins by countries that refuse to accept them. It speaks to the daily reality of dehumanisation: living in limbo, barred from education, work, and movement, while being treated as though they leave no mark on the world. 99% of Rohingya currently live under these containment policies, the majority of whom are around Asia Pacific.

Yet the community continues to endure and assert its identity, carrying this symbol across campaigns and cultural spaces as a reminder: “We are still here. We still matter.”

The symbol invites the international community to see the Rohingya as not as faceless victims of tragedy, but people with a rich cultural heritage, people with full and complex humanity, dreams of better lives for their children; a culture that is at risk of erasure as they live in limbo even after eight years. The taro leaf calls for understanding of both the emotional and political toll of statelessness and to respond not just with empathy, but with action.

The release comes one month ahead of the opening of the Meeras Pavilion by the City of Sydney on 25 September, an interactive artwork and cultural space dedicated to Rohingya culture, storytelling and solidarity.

A growing number of NGOs and Rohingya institutions are actively supporting the release of this symbol, including Medecins Sans Frontieres Australia, Amnesty International Australia, Asylum Seekers Resource Centre, Refugee Council of Australia, Australian Global Health Alliance, and Save the Children Australia.

“The taro leaf captures both the fragility and resilience of the Rohingya people. At a time when their culture risks being forgotten, these symbols insist that the Rohingya cannot be erased—that their culture and humanity leave a mark the world must recognise,” said Jennifer Tierney, executive director, MSF Australia, one of the partners for this project.

Dr Graham Thom, Advocacy Coordinator for the Refugee Council of Australia says: “The taro leaf speaks to the quiet strength of the Rohingya people. Eight years after so many were forced to flee, their resilience remains clear, but so does the need for lasting solutions. When I visited Cox’s Bazar in June, I saw first-hand the urgent need for continued support, protection, and hope for the future.”

Jana Favero, Deputy CEO, Asylum Seeker Resource Centre “The taro leaf is a powerful reminder of the strength of the Rohingya people. It symbolises their resilience in the face of profound injustice. At ASRC we stand with the Rohingya community in their call for recognition, rights and a future with dignity.”

Notes

About the Rohingya displacement

  • In August 2017, more than 700,000 Rohingya fled Myanmar following a campaign of targeted violence.
  • Today, nearly 1 million Rohingya live in refugee camps in Cox’s Bazar, Bangladesh, alongside tens of thousands elsewhere in the region.
  • Many remain stateless, denied citizenship and basic rights for decades.
  • The anniversary of the 2017 exodus is marked annually as Rohingya Genocide Remembrance Day.

About the taro leaf symbol

  • The taro leaf is inspired by the Rohingya proverb “Honsu fatar Paani” — “not even water leaves a mark on a taro leaf.”
  • Its waxy surface causes water to bead and roll away, symbolising how the world has tried to erase the Rohingya through making them stateless.
  • The symbol reflects the experience of statelessness: of floating without land underfoot, belonging nowhere, and being caught between countries that do not want them.
  • Launched in 2024, the Taro Leaf Symbols package is a global initiative of Rohingya artists and allies to mark presence, self-advocacy, survival, and cultural pride.
  • About the Meeras Pavilion
  • The Meeras Pavilion opens on 25 September as part of the City of Sydney’s Art and About Festival.
  • It will showcase Rohingya art, craft, and performance, serving as a cultural space of survival, resistance, and storytelling.
  • “Meeras” means heritage — a reminder of the specific issues the Rohingya face, that even in displacement, even against erasure, their culture endures.

Australia – AI app that supports migrants, refugees find work wins tech award – AMES

Source: AMES

A revolutionary new AI-driven phone app that supports migrants and refugees improve their English language skills and employability has won a prestigious award.

The ‘MyAMES Chat app’, developed by tech company Getmee in partnership with migrant and refugee settlement agency AMES Australia, has won the ‘Government’ category award at the TechDiversity Awards 2025, while also being recognised in the Education & Government Category.

The app is a groundbreaking digital coaching tool that is revolutionising foundation skills education. It provides personalised, real-time support in English language learning, literacy, communication, interview preparation, and soft skills development.

Targeted at English as an Additional Language (EAL) learners and participants in migrant education and employment programs, the app improves digital literacy, confidence, and workforce readiness.

The app has delivered measurable outcomes through improved employability and communication skills, greater educator efficiency by complementing classroom teaching and enhanced government outcomes and contract performance.

 

It bridges education and employment pathways across VET, pre-accredited, and accredited training programs.

Accepting the award, CEO and Founder of Getmee Balendran Thavarajah, a former refugee himself, said it was pleasing to be able to make positive difference in the lives of other refugees and migrants.

He said the award affirms the potential of AI-driven tools in government-led initiatives.

“MyAMES Chat demonstrates how digital innovation can be harnessed to achieve both social impact and system efficiency, setting a new standard for how government can engage diverse communities through technology,” Mr Thavarajah said.

“This win is more than recognition. It is proof that technology, when designed inclusively, can transform lives and deliver real outcomes for communities and government alike,” he said.

Mr Thavarajah shared his personal journey, from refugee to technology founder, a story that deeply resonated with attendees and highlighted the transformative power of diversity in driving meaningful innovation.

“My journey is proof that when we embrace diversity, we unlock innovation that changes lives. MyAMES Chat shows how AI can break barriers and build bridges to employment for thousands of learners,” Mr Thavarajah said.

AMES Australia CEO Melinda Collinson said the app afforded added flexibility to newly arrived migrants and refugees studying English.

“It augments the support they get from the AMES Australia Skilled Professional Migrant Program (SPMP) teachers. It means they can study in their own time and at their own convenience. It will also help them acquire digital skills.

“The app will help the students find work commensurate with their skills and qualifications more quickly. This will produce a dividend for the broader economy, which is currently suffering from a skills shortage.

“It is an extension of work we have been doing over many years in supporting newly arrived migrants and refugees re-establish their professional careers in Australia.

“Our Skilled Professional Migrant Program has been assisting professionals from overseas to find pathways to jobs that are commensurate with their qualifications and experience through coaching and career counselling was well as through networking and mentoring opportunities,” Ms Collinson said.

The TechDiversity Awards, now in their 10th year, celebrate and amplify Diversity, Equity, and Inclusion (DEI) in Australia’s tech workforce, spotlighting initiatives that are shaping DEI futures.

The awards celebrate organisations and leaders advancing DEI through technology. With over 100 nominations reviewed in 2025, the Awards continue to spotlight initiatives that create pathways for underrepresented groups and showcase the role of technology in shaping a fairer future.

UPDATE – Ninth Tokyo International Conference on African Development (TICAD9): Japan International Cooperation Agency and African Development Bank sign agreement to extend Enhanced Private Sector Assistance initiative for $5.5 billion

SOURCE: African Development Bank Group (AfDB)

The EPSA non-sovereign operations component helps finance the Bank's private sector operations through a line of credit from JICA to the Bank on concessional terms
YOKOHAMA, Japan, August 22, 2025/ — The Japan International Cooperation Agency (JICA) and the African Development Bank (www.AfDB.org) on Thursday signed a Memorandum of Understanding launching the sixth phase of the Enhanced Private Sector Assistance (EPSA6) agreement, which provides a framework for critical resource mobilization and development partnership for African countries.

Under EPSA6, the Bank and JICA will work together to support regional member countries over the period 2026-2028, to achieve a joint financing target of up to $5.5 billion – half a billion more than EPSA5.  

The signing ceremony by Japan International Cooperation Agency (JICA) President Dr. Akihiko Tanaka, and African Development Bank Vice President for Power, Energy, Climate and Green Growth Kevin Kariuki, took place during the Ninth Tokyo International Conference on African Development (TICAD9), in Yokohama, Japan. Mr. Katsunobu Kato, Finance Minister of Japan witnessed the ceremony.

The EPSA initiative (https://apo-opa.co/41hTlGY), created in partnership with the Government of Japan and the Bank in 2005, supports the implementation of the Bank's Strategy for Private Sector Development. Its key priorities are power, connectivity, health, agriculture and nutrition.

Dr.  Tanaka said co-financing under previous EPSA agreements since 2005, had resulted in $12 billion of joint support to Africa from the African Development Bank and JICA. The $5.5 billion target for EPSA6 is more than five times the original target of EPSA1, 20 years ago, he said. “This reflects the growing strength of our partnership and the increasing importance of our joint effort,” he added. He also announced that resilience would be a new priority under EPSA6. “With this focus we are committed to address not only climate change but also a broad range of shocks.”

Tanaka lauded the role played by outgoing African Development Bank President, Dr. Akinwumi Adesina, for over half of EPSA's history. “Thanks to his strong ownership and support, we are pleased that EPSA5 is now almost reaching its target of $ 5 billion by the end of this year,” he said.

The EPSA non-sovereign operations component helps finance the Bank's private sector operations through a line of credit from JICA to the Bank on concessional terms. Previous EPSA agreements have helped finance critical infrastructure such as the Bujagali Hydropower Plant (Uganda), RASCOM (the first Pan-African communication satellite), the East Africa Submarine Cable System, Lekki Toll road (Nigeria), and the Kigali Bulk Water Supply in Rwanda.

“The Government of Japan is one of the strongest shareholders of the African Development Bank and contributors to the African Development Fund. In addition, EPSA is the largest and longest-standing bilateral partnership the Bank has with any Development Finance Institution. We recognize that Japan has been an early mover in supporting private sector in Africa since 2005,” Kariuku said. “I wish to applaud the continued commitment of the Government of Japan and JICA towards Africa's development, and I am confident that we will consolidate the successes of development collaborations between Japan and Africa in a mutually agreeable manner.”

EPSA 5, which ran from 2023 to 2025, involved a $5 billion financial cooperation announced at the Eighth Tokyo International Conference on African Development (TICAD8) in 2022.

EPSA5 had achieved a $4 billion joint cofinancing target “as of today,” Kariuki declared, with projects worth $1.6 billion at an advanced stage of co-financing by the end of 2025.

In earlier opening comments Minister Kato said EPSA 6's focus on resilience would help African countries with a heavy debt burden as well as expand  private sector investment.

“Africa has tremendous opportunities for significant market expansion,” Kato said.

About the African Development Bank Group:
The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org