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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.

TymeBank, a South African digital bank, has reached the 8 million customer milestone in just four years, a significant achievement for the rapidly growing financial institution.

AfDB has launched a $1 billion fund called the African Climate Risk Insurance Facility for Adaptation (ACRIFA) to insure African farmers.

The African Development Bank (AfDB) and Japanese drone manufacturer Aerosense Inc. have formalized a collaborative pact aimed at expanding drone-based solutions in Africa.