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The African Development Bank Group (AfDB) has secured a $350 million loan from the Japan International Cooperation Agency (JICA) to enhance its support for private sector operations in Africa.
The facility will provide the necessary financial resources to support the growth and development of private sector operations in Africa, which will, in turn, create more jobs, increase productivity, and foster inclusive economic growth. The loan will support various private sector operations, including infrastructure development, agribusiness, energy, and manufacturing. It will also provide financing for small and medium-sized enterprises (SMEs) in Africa, which is critical to job creation and economic growth.

Safaricom, Kenya’s leading telecommunications giant, has revealed its ambitious plan to bolster the tech startup ecosystem by launching two new subsidiaries.

The African Development Bank (AFDB) has approved a $21 million financing to support Kenyan youths and women entrepreneurs in agriculture.

The Malian industrial conglomerate Ibi Group, known for its work in aviation, renewable energies, and irrigation systems, has expanded its operations into the urban transport sector with the launch of a new subsidiary, Angata.