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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.

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.

Visa, a global leader in digital payments, has announced the launch of its highly anticipated fintech accelerator program specifically designed for startups in Africa.

The Common Market for Eastern and Southern Africa (COMESA) has unveiled a new digital payments system that enables businesses to conduct cross-border trade using local currencies rather than relying on the US dollar.