Trisolace and Giddins become winners of the AFIDBA 2020 challenge, gets awarded by AFD

GHANA – Two Ghanaian startups, Trisolace and Giddins, have been awarded a prize from France, through the French Development Agency (AFD), for their participation in the 2020 Cohort of the AFD Inclusive and Digital Business (AFIDBA) challenge. The challenge, which was launched in 2019 in Ghana, Senegal, Burkina Faso and Morocco, saw Trisolace and Giddins becoming the winners of the 2020 challenge in Ghana, after a keen competition organized by INNOHUB Ghana. Giddins engages and empowers school drop-outs within the community with knowledge on sustainable fashion and with this skill…

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Heva Fund partners AFD to support creative businesses in Kenya with up to US$92,000

KENYA – HEVA Fund, an East African fund that invests in the transformative social and economic potential of the creative economy sector in the East African region, in collaboration with Agence Française de Développement (AFD), has opened round 2 of its Growth Fund facility for creative businesses in Kenya. Starting from 19th April 2021, businesses will now be able to apply for the facility through the Growth Fund page, a fund which is open to mature creative businesses in Kenya who need financing of between US$46,000 to US$92,000. The fund will…

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Proparco set to offer loans to VSEs and SMEs in Senegal through BICIS

SENEGAL – Proparco, a Development Finance Institution partly owned by the French Development Agency (AFD), has granted a new portfolio guarantee to BICIS, for Very Small Enterprises (VSEs) and Small and Medium-sized Enterprises (SMEs) in Senegal. BICIS will offer loans that are 80% guaranteed by AFD Group the VSEs and SMEs. BICIS is the third financial institution to deploy this exceptional guarantee in Senegal. Since the beginning of their collaboration in 2005, Proparco and BICIS have gradually strengthened their partnership to support a growing number of MSMEs. This relationship makes BICIS one…

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AfDB approves US$1.3m grant for research efforts to enhance women’s digital access to loans and micro-insurance

AFRICA – The African Development Bank (AfDB) has approved two grants for research that will increase African women’s access to a range of digital financial services including loans and micro-insurance. The grants, for US$1 million and US$300,000 respectively, will be disbursed through the Africa Digital Financial Inclusion Facility (ADFI), a blended finance vehicle supported by AfDB, to two financial technology firms, Pula Advisors Kenya Ltd., and M-KOPA Kenya Ltd. Pula Advisors will use the US$1 million for research of social, cultural, and economic factors that impact women farmers’ access to…

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AfDB extends US$2m grant to strengthen cybersecurity and boost financial inclusion in Africa

AFRICA – The African Development Bank (AfDB) has awarded a US$2 million grant to establish the African Cybersecurity Resource Center (ACRC) for Financial Inclusion to tackle cybercrime across Africa and to strengthen the resilience of digital financial ecosystems. The  grant will be disbursed through the Africa Digital Financial Inclusion Facility, a blended finance vehicle, which the institution supports. The project will take a three-pronged approach: creation of an affordable shared platform to monitor cyber-attacks against financial service providers and individual customers; rollout of individualized advisory services to enable  organisations to…

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AFD launches US$84m fund for renewable energy in Nigeria

NIGERIA – The Agence Francaise de Developpement (AFD) is supporting access to renewable energy for Nigerian manufacturers with €70 million (US$84.35m) under the Sustainable Use of Natural Resources and Energy Finance (SUNREF) Nigeria Programme for renewable energy. The fund would be administered through the Access Bank Plc and the United Bank for Africa Plc. The AFP described energy efficiency projects (EEP) as capital expenditure projects that would allow energy consumers to use less energy for achieving the same level of energy service. However, only renewable energy projects like solar, wind,…

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AFD, EU to finance CGECI’s renewable energy and energy efficiency projects

COTE D’IVOIRE – French Development Agency (AFD) and the European Union (EU) has signed a financial agreement with the General Confederation of Businesses in Ivory Coast (CGECI) to offer technical assistance for US$1.97 million renewable energy and energy efficiency projects for Ivorian companies. French Development Agency (AFD) plans to support Ivorian companies in their projects to acquire renewable energy and energy efficiency systems. The bank will participate in financing their green projects through the Sunref program. AFD’s green financing label aims to work with (local) banks for green growth in…

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NBE and AFD to finance climate conservation and development projects with US$119.15m

EGYPT – The National Bank of Egypt (NBE) and the French Development Agency (AFD) have signed a new credit facility agreement worth €100 million (US$119.15m) with the aim of financing climate conservation and sustainable development projects in Egypt. Chairperson of the NBE, Hisham Okasha, said that the new agreement will allow directing finance and support to the projects that are fully compatible with the sustainable development goals and the environment conservation. Fabio Grazi, Director of the AFD’s Regional Office in Egypt, affirmed the French Agency’s interest in this funding, especially…

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Housing Finance Bank, AFD sign US$12.5m agreement for affordable housing in Uganda

UGANDA – Housing Finance Bank (HFC) Uganda and Agence Française de Développement (AFD) have signed two financing agreements of US$12.5 million to support the development of a housing finance offer adapted to the needs of the people in Uganda. The US$11.8 million line of credit from AFD aims to finance the deployment of Housing Finance Bank’s housing microfinance and affordable housing offer, enabling them to diversify the mortgage loan offer to include low and middle-income populations, who currently do not have access to an adequate financial offer. “We are proud to…

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AFD provides US$117M loan for expansion of tramway lines in Casablanca

MOROCCO – The French Development Agency (AFD) and Casa Transport en Site Amenage SA have signed a loan agreement of €100 million (US$117m) to expand tramway lines in the city of Casablanca. AFD shared a statement with Morocco World News explaining that the deal seeks to support Casa Transport to establish two new tramways to improve mobility for Casablanca residents. The loan agreement includes a technical assistance grant of €5.5 million (US$6.44m). “This new financial and technical support from AFD to Casa transport consolidates the quality of their partnership relations…

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