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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.

KPMG is set to host the Africa Venture Summit, an event designed to catalyze private enterprise investment across the continent.

HR and payroll solutions provider Deel has announced the acquisition of PaySpace, a South African company offering similar services, in a move to strengthen its global footprint.
German biotech giant BioNTech has taken a significant step toward its ambitious goal of producing mRNA vaccines in Africa by setting up the first BioNTainer at its manufacturing facility in Kigali, Rwanda.