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The Board of Directors of the African Development Bank Group on 26 October 2022 in Abidjan approved a loan of €63.6 million to Senegal to implement the Agropole-Centre agro-industrial processing zone project.
South Africa’s government is negotiating two loans worth a total of 600 million euros ($601 million) that form part of a $8.5 billion climate finance deal it was offered by wealthy nations at the COP26 talks in Glasgow last year.
China’s growing influence is most evident in Africa. A rapid investment and building programme over the past 15 years or so has seen Chinese companies construct new railways, roads, ports, and airports across the continent.
Oui Capital, an Africa-focused VC firm based in Lagos and Massachusetts, announced today that it has completed the first closing of its $30 million second fund, Oui Capital Mentors Fund II, as it seeks to strengthen its presence on the continent.
This morning, Seedstars launched its second emerging market seed stage fund. The firm announced the first close of the fund with $20 million committed by the International Finance Corporation (IFC), Visa Foundation, The Rockefeller Foundation, and Symbiotics.