Japan provides US $700 million to African Development Fund

The Japan International Cooperation Agency (JICA) has signed a loan agreement with the African Development Fund (ADF) designed to provide an Official Development Assistance (ODA) loan to the tune of 73.601 billion Japanese Yen (approx. US $700.9 million). The loan is part of Japan’s contribution to the African Development Fund’s Fourteenth Replenishment (ADF-14). This is …

IFC Becomes Anchor Investor in Partech Africa—Largest VC Fund Focused on Africa

IFC, a member of the World Bank Group, has helped Partech Ventures launch a €100 million fund that is expected to become the largest venture-capital fund focused on digital-technology start-ups in sub-Saharan Africa. The initiative will help accelerate an ongoing digital transformation that is helping drive economic growth in the region. IFC’s €15 million equity …

African Union Launches Single African Air Transport Market​

The African Union launched the Single African Air Transport Market on the 28 January 2018 on the margins of the African Union Summit in Addis Ababa, Ethiopia. The Single African Air Transport Market (SAATM) is a flagship project of the African Union Agenda 2063, an initiative of the African Union to create a single unified …

The EU and Bill & Melinda Gates Foundation Invest €100 million for Health Innovations in Africa

The Bill & Melinda Gates Foundation today announced their commitment to contribute to the EU's External Investment Plan. The Gates Foundation will contribute $50 million (€40.9 million) in financing, as well as an additional $12.5 million (€10.2 million) in technical assistance, to investment projects in the health sector in Africa through the EU's framework to …

Brookings’ 2018 Foresight Africa Report Emphasizes Domestic Resource Mobilization

In this year’s Foresight Africa, Africa Growth Initiative (AGI) scholars and invited experts delve deeply into six overarching themes that highlight areas in which African countries and their citizens are taking the lead to achieve inclusive growth. In a world where China and other emerging economies are ascendant, where cooperation on global governance is under …

New World Bank Report Predicts Significant Economic Growth in sub-Saharan Africa in 2018

The World Bank forecasts global economic growth to edge up to 3.1 percent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues. Growth in advanced economies is expected to moderate slightly to 2.2 percent in 2018, as central banks gradually remove their post-crisis accommodation and the upturn in …

Africa Climate Smart Agriculture Summit Holds in Kenya

Kenya will host the Africa Climate Smart Agriculture Summit which provides an opportunity for cross-sector networking and knowledge exchange that is competent and neutral, technical and commercial by bringing together all stakeholders, including regional governments and policy makers, private sector and research organizations, UN agencies and civil society. By providing keynote addresses, panel discussions and …

New I&P fund to invest in Sub-Saharan African startups

Investment firm Investisseurs & Partenaires (I&P) has announced a first closing of over EUR50 million (US$59 million) for its IPAE 2 fund, which will invest in small and medium sized businesses in Africa that combine economic profitability with societal impact. Launched in 2002, I&P is committed to contributing to the rise of a sustainable and …

AfDB Invest US$20 million in Clean Energy Private Equity Fund

As part of its wider mandate under the New Deal on Energy for Africa, the Board of Directors of the African Development Bank on December 15, 2017, approved an investment of US $20 million in the Evolution II Fund −a Pan-African clean and sustainable energy private equity fund. The Bank’s investment in Evolution II Fund …

World Bank to fund $600 million Tanzania-DRC railway

The World Bank is set to release US $600m for a railway project to facilitate trade in East and Central Africa and provide an alternative route to the sea for Burundi, Tanzania, Zambia and the Democratic Republic of Congo. “We are talking about improving infrastructure along the Central Corridor, specifically Lake Tanganyika,” said East Africa …