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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.

Powering up Tanzania: The African Development Bank Group, the French Development Agency (AFD) and the European Union (EU) have teamed up to invest $300m in Tanzania’s Kakono hydropower plant.

Kenyan travel tech company BuuPass is aiming to expand its reach significantly across Africa, targeting eight new markets by 2025.

The Financial Times has released its list of the top 20 fastest growing companies in Africa for 2024.