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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.
Botswana and De Beers have concluded a historic 10-year agreement that strengthens the country’s position in diamond sales while reinforcing its critical mining sector.
South Africa has introduced its first AI-powered tutor robot, Iris, at a launch event in Durban, a move expected to reshape the country’s education system.
Electric mobility company Spiro has introduced Africa’s first all-women electric vehicle (EV) assembly line in Kenya, marking a bold step towards empowering women in the male-dominated tech manufacturing sector.