In 2022, The AfDB Will Lend $500 Million To Women In Order To Raise $5 Billion For African Women’s Companies

Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), has stated that the financial organization will lend $500 million to women by 2022. This comes as the bank’s Affirmative Action for Women in Africa (AFAWA) initiative raises $5 billion with the help of French President Emmanuel Macron and the G-7. This information is contained in a statement released by Adesina on his official Twitter account on Sunday, May 22, 2022, in which he also stated that the bank gave out $483 million to financial institutions to lend to women businesses in 2021. Adesina’s statement comes as the bank begins […]



Nigeria Has The Most Startups In Africa,But Ranks Poorly Due To Difficult Environment

According to a research titled African Tech Ecosystem of the Future 2021/2022 Ranking, Nigeria boasts the most tech companies, with many of them working in the fintech industry, but the country falls short on other measures. fDi Intelligence, a specialised subsidiary of the Financial Times, collaborated with research firm Briter Bridges to produce this analysis. New waves of tech entrepreneurship are sweeping the globe, well beyond the usual hotbeds of Silicon Valley, Boston, and New York in the United States, London, and elsewhere. Africa, for example, is becoming the world’s fastest-urbanizing continent while also being one of the world’s most[…]



The World Bank Plans To Spend $150 Billion In Africa

David Malpass, the President of the World Bank Group, has stated that the bank intends to spend $150 billion in Africa over the next five years in order to promote growth on the continent. Malpass made the announcement on Tuesday in Paris, France, at the Summit on Financing African Economies. Malpass reaffirmed the World Bank’s commitment to funding growth in Africa, noting that an additional $150 billion will be spent in Africa over the next five years, with the bank having invested around $200 billion in Africa over the last decade. “The World Bank Group has invested $200 billion in[…]