Category: Key developments

The International Finance Corporation (IFC), part of the World Bank Group, has teamed up with Standard Chartered to introduce a $300 million risk-sharing facility aimed at improving access to supply chain finance across Africa.

Africa faces a $100 billion annual agriculture financing gap, limiting productivity, increasing food imports, and exposing structural weaknesses across the continent’s food systems.

British International Investment (BII), the UK government’s development finance institution, has announced a new five-year plan to channel £9 billion into African economies, with a strong push to attract private investors and expand activity in underserved markets.

The Africa Finance Corporation (AFC) has formalized plans to open its first regional office in Nairobi following the signing of a Host Country Agreement with the Government of Kenya, marking a new phase in infrastructure financing and industrial development across East Africa.

The International Monetary Fund (IMF) has revised its economic outlook for Africa, warning that the ongoing conflict in the Middle East is undermining growth prospects across the continent and adding fresh pressure on already fragile economies.

Google has unveiled the 10th cohort of its Google for Startups Accelerator Africa, selecting 15 startups from a highly competitive pool of close to 2,600 applicants.

Launch Africa Ventures has been named investment advisor for the first phase of the Botswana Tech Fund, a new venture vehicle that plans to support technology and tech-enabled businesses across Southern Africa.

Nigerian defence technology company Terra Industries has unveiled plans to build what will be Africa’s largest drone manufacturing facility, marking a major expansion of its operations beyond Nigeria.

The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group, has approved a grant of 1.7 billion CFA francs (about $2.8 million) to support private sector growth in West Africa’s monetary union.