DRT Apparel Group, the largest apparel manufacturer in West Africa, will receive a loan of up to $8 million from the International Finance Corporation (IFC), including $4 million from IFC's own account and $4 million from IFC as the implementing entity of the International Development Association's (IDA) private sector window....

COVID-19 triggered an unprecedented crisis in Africa’s tourism industry. Still, a growing middle class and young population bode well for travel businesses. Tapping domestic tourism demand will be key to rejuvenating the sector. By Olivier Monnier* Months into the COVID-19 pandemic in 2020, Kenya’s normally manicured beaches were carpeted three-feet...

To help support the growth of startups with impactful solutions in Africa, VivaTech has partnered with the International Finance Corporation (IFC) to launch the first edition of the AfricaTech Awards, which will take place at VivaTech in June 2022. The impact that new tech solutions can have in Africa is...

Viva Technology, the Presidential Council for Africa and Seedstars Africa Ventures unveiled new initiatives to boost investment in African innovation.  By Bilkiss Mentari, Paris United in their support of the African tech sector, the Viva Technology show - or VivaTech - the Presidential Council for Africa (CPA) and the venture...

The International Finance Corporation (IFC) announced yesterday the disbursement of a €2 million loan to the Centre for the Study and Development of Industrial and Agricultural Development of Mali (CEDIAM) to support the development of the firm, create jobs, facilitate producers' access to markets and increase mango production and exports,...

Pasabahce Egypt, the subsidiary of Turkish glassware and glass packaging producer, Sisecam is eligible for a $30 million financing from the International Finance Corporation (IFC), the private sector arm of the World Bank Group in emerging countries. The facility consists of a long-term loan of up to $20 million and...

The COVID-19 pandemic has worsened existing gender inequalities, according to a report of the IFC.  While women make up 39% of global employment, they account for 54% of the overall job losses due to the crisis. Gender gaps in access to finance have created additional challenges for women entrepreneurs to...

The International Finance Corporation, a member of the World Bank Group, and Nedbank Limited have partnered to increase financing for renewable energy projects in South Africa. A loan of up to 200 million dollars will help Nedbank expand its green finance operations and grow its climate portfolio by funding renewable...

The International Finance Corporation plans to invest 12,6 million dollars in the form of a loan in AK Life, a top pharmaceutical manufacturer and distributor based in Uganda. The medical company already operates in Uganda, Rwanda, Tanzania, Kenya, and Burundi and plans, with this investment, to grow its distribution network...

International Finance Corporation (IFC), a member of the World Bank Group, has granted a 10 million dollars’ loan to I&M Bank Rwanda to help the bank increase lending of Small and Medium-Sized Enterprises (SMEs) in Rwanda and mitigate the impact of the crisis on those companies....