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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
Tony Elumelu is a Nigerian entrepreneur, investor, and philanthropist passionate about Africa’s economic development.
A champion of #Africapitalism, the 59-year-old is on a mission to position Africa’s private sector and, most importantly, entrepreneurs as the catalyst for the social and economic development of the continent.
He is the founder of The Tony Elumelu Foundation, a philanthropic organization empowering African entrepreneurs to catalyze economic growth, drive poverty eradication, and ensure job creation.
Tony is also serving as the Chairman of Heirs Holdings, a family-owned investment holding company.
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Impact Fund Denmark has declared a new $15 million investment in the Verdant Capital Hybrid Fund (VCHF) to expand financing for small businesses and entrepreneurs across Africa.
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DEG, Germany’s development finance institution, has agreed to provide a €30 million loan to the Africa Go Green Fund (AGG), a debt fund managed by Cygnum Capital, to support the expansion of climate-oriented businesses across the African continent.
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The International Finance Corporation (IFC) has announced plans to invest up to $30 million in equity in the Adenia Entrepreneurial Fund I, a private equity vehicle that focuses on supporting small and medium-sized enterprises (SMEs) and small-cap companies across Africa.