Banking & Finance

IFC and FMO grant a loan of US$50mn for SMSE in Kenya

AdobeStock 306310566IFC and FMO, the Dutch entrepreneurial development bank, have announced a loan of US$50mn to I&M Bank Ltd to help smaller businesses across different sectors in Kenya access financial support for expansion and economic recovery

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Cellulant acquires PSP license in Ghana

digital money transferPan African payments company Cellulant has announced the acquisition of PSP License in Ghana as it rolls out a digital payments solution for businesses

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AfDB and govt of Ethiopia join hands to boost electricity trade and youth employment

AdobeStock 321002125African Development Bank Group (AfDB) and the government of Ethiopia have entered into an agreement to initiate projects related to youth employment, and electricity trade between Ethiopia and Djibouti

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Fitch affirms Triple A-rating of the African Development Bank, Outlook stable

creditscoreGlobal credit rating agency Fitch Ratings has affirmed the African Development Bank’s (AfDB) credit rating at ‘AAA’, with a stable outlook

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Venture capital investments in Africa soared in 2020

AdobeStock 253663256The new African Private Equity and Venture Capital Association (AVCA) report has revealed that the volume of total venture capital deals in Africa has increased from 140 in 2019, to 319 in 2020

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