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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
African Changemaker
Mahmoud Mohieldin is an Egyptian economist and development expert who has held several high-level positions in international organizations and the Egyptian government.
He is currently serving as the Executive Director of the International Monetary Fund. Mohieldin served as Egypt’s Minister of Investment from 2004 to 2010 and played a key role in promoting investment and economic development in the country during that time.
After leaving the Egyptian government, Mohieldin joined the World Bank as a Managing Director in 2010, working on poverty reduction, sustainable development, and financial inclusion. He was later appointed as the Senior Vice President of the World Bank Group for the 2030 Development Agenda, United Nations Relations, and Partnerships.
In this position, he focused on strengthening collaboration between the World Bank and the United Nations to achieve the Sustainable Development Goals. Mahmoud has been recognized for his expertise and contributions to development economics. He has published numerous articles and papers on economic growth, investment, and poverty reduction.
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German development finance institution DEG (Deutsche Investitions- und Entwicklungsgesellschaft) has confirmed it will commit $50 million to African Development Partners IV (ADP IV), the latest private equity vehicle managed by Development Partners International (DPI).
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British International Investment (BII), the United Kingdom’s development finance institution, has agreed to provide a $37 million investment for the Abydos II Solar PV and Battery Energy Storage System (BESS) project in Egypt, reinforcing the country’s transition to renewable energy.
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SORA Technology, a Japanese startup that applies drone and artificial intelligence technologies to public health challenges, has secured an additional $2.5 million in the second close of its late seed funding round.