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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.

Africa’s economy is projected to grow by 4.0% in 2026, according to the United Nations’ World Economic Situation and Prospects 2026 report.

Mobility startup LULA has announced a significant expansion through the acquisition of UK-based Zeelo’s South African operations.

Swiss fintech company Centi has announced a new partnership with Yellow Card, a leading cryptocurrency exchange that operates across Africa.