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.
Pan-African fintech leader Flutterwave has acquired 13 new money transmission licenses in the United States, significantly expanding its reach in the crucial cross-border payments market.
The European Union has provided Kenya with $378 million in funding to power the country’s electric Bus Rapid Transit (BRT) system.
The Mastercard Foundation and the Institut Pasteur de Dakar (IDP) have unveiled a $45million partnership to strengthen Africa’s healthcare infrastructure and foster vaccine manufacturing autonomy.
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