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.
SEACOM LTD, one of the leading Pan-African data services providers, has secured $207 million in funding from the International Finance Corporation (IFC) to accelerate digital connectivity in seven African countries.
Koree, a Cameroonian fintech company, has been crowned the winner of the 2023 Ecobank Fintech Challenge.
Nigeria is set to expand access to electricity in unserved and underserved areas through a $750 million loan from the World Bank.
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