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Africa: Venture capital financing drops below the US$1 bln mark in Q3-2022

  • Posted on: 10 October 2022
  • Updated on: 10 October 2022
  • By: radmin

The volume of financing raised by startups active in Africa slowed at the end of Q3-2022. For the first time in four quarters, the US$1 billion mark was not reached.  

Startups active in Africa raised US$850 million via US$100,000+ deals in the three months ending on September 30, 2022, the platform Africa: the Big Deal reveals. This is the first time in four quarters that the US$1 billion mark was not crossed, its analysis show.  

Ethiopia: Foreign investors allowed up to 40% stake in local banks

  • Posted on: 10 October 2022
  • Updated on: 10 October 2022
  • By: radmin

The opening of Ethiopia’s banking sector to foreign investors was long-awaited by several African groups including South Africa’s Standard Bank and Kenya’s KBC Group.

Foreign investors can now acquire up to 40% stake in Ethiopian banks, local media The Reporter indicated last Saturday, citing the policy liberalizing Ethiopia’s banking sector.

Côte d’Ivoire: African Development Bank signs grant agreement for $400,000 with Caisse des dépôts to support micro-enterprises

  • Posted on: 10 October 2022
  • Updated on: 10 October 2022
  • By: radmin

The African Development Bank has signed a grant agreement for $400,000 with the Caisse des dépôts et consignations of Côte d'Ivoire (CDC-CI). The funds will support CDC-CI to accelerate its activities to assist Ivorian small and medium-sized enterprises. The agreement was signed on 27 September 2022 in Abidjan. CDC-CI is  a State bank that handles official deposits.

The grant will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the African Development Bank.

GCA report reveals funding crisis for climate adaptation in Africa Global leaders must act to close the investment gap

  • Posted on: 13 September 2022
  • Updated on: 13 September 2022
  • By: radmin

President Macky Sall’s bold leadership is vital for accelerating global action on climate adaptation ahead of the Africa Adaptation Summit on 5 September 2022, Dr. Patrick Verkooijen, CEO of the Global Center on Adaptation said in closing remarks at the Presidential Palace in Dakar, after a high-level meeting on Wednesday hosted by President Macky Sall of Senegal, Chair of the African Union.

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