Equity Bank gets US$45.5m guarantee facilities from Proparco to support MSMEs

KENYA – French development finance institution Proparco, has granted Equity Bank two guarantee facilities, ARIZ and EURIZ totaling €39 million (US$45.5 million) to help the Kenyan bank further support job-creating MSMEs. Proparco also granted a €550,000 (US$641,432) technical assistance facility to support Equity Group Foundation’s health projects. The EURIZ guarantee and the technical assistance grant benefited from support from the European Union and the Organization of African, Caribbean and Pacific States.   Equity Group is the biggest bank in asset base in the region, with a strong focus on supporting…

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EDFI and GET.invest to inject US$12.34m in renewable energy in Burundi

BURUNDI – The European Union (EU) is launching its EDFI ElectriFI and GET.invest programs with the aim of encouraging private investment in renewable energy in Burundi. The aim of this funding is to support the electrification of Burundi, one of the least developed countries on the African continent. The first is the EDFI ElectriFI (Electrification Financing Initiative) program, which is an impact investment facility that finances start-up companies and private projects, focusing on new or improved electricity connections and generating capacity from clean energy sources. EDFI ElectriFI supports the development…

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EU, GIZ extends US$65 million to Nigerian to support its renewable energy sector

NIGERIA – The Nigerian electricity sector is set to receive a US$65 million boost through its Nigerian Energy Support Programme (NESP), from the European Union in collaboration with Germany’s Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). With the extension, the EU has granted an additional US$20 million funding to the initial US$27 million dedicated to supporting the Nigerian renewable energy sector while the total funding for the programme now comprises US$47million, from the EU, while US$17 million is from the German government. Head of Cooperation for the EU Delegation to Nigeria…

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Uganda receives US$91.8m from AFD and EU for water and sanitation in Insingiro District

UGANDA – The government of Uganda has received US$91.8 million in funding from the French Development Agency (AFD) and the European Union (EU). for the implementation of the Isingiro District Water Supply and Sanitation Project. The French Development Agency (AFD) funding of US$83 million is divided into a loan of US$80.6 million and a technical assistance grant worth US$2.3 million. The financing agreement was signed on September 20th, 2021, between the Ugandan Minister of Finance, Planning and Economic Development, Matia Kasaija and the French Ambassador to Uganda, Jules-Armand Aniambossou. The…

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Rwanda receives US$3.6m from EU to revamp labs for Covid-19 vaccine production

RWANDA – The government of Rwanda has signed a Rwf3.6 billion (US$3.6 million) partnership with the European Union to help upgrade the country’s laboratory capacity to help it attract investors to manufacture Covid-19 vaccines. The funds will be used to strengthen the Foods and Drugs Authority’s quality control for medical products to enable the regulator to acquire the necessary certification from the World Health Organisation (WHO). “What we signed is a step to revamp and also strengthen the Rwanda Foods and Drugs Authority. The money we will receive from the EU will support…

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Kenya to sign trade agreement with EU without her EAC partners

KENYA – The European Union plans to sign an Economic Partnership Agreement(EPA) with Kenya, leaving out the rest of East African Counties that have failed to ratify the trade deal. According to Valdis Dombrovskis, the block’s executive vice-president and trade commissioner, the European trading block will first sign the agreement with Kenya as other EAC counties wait for ratification. The EPA agreement was concluded seven years ago but had not come into life due to lack of signatures from other EAC counties. Kenya has already signed the regional EPA and…

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Gambia launches US$23m electricity project to benefit 685 communities

GAMBIA – The Gambian Vice President has laid the foundation stone for the Greater Banjul Area (GBA) Transmission and Distribution Modernisation Project at the Salagi Forest Park which is part of its plan to meet the target of Energy for all. The project is co-funded by the World Bank, European Union, and European Investment Bank as part of The Gambia’s Electricity Restoration and Modernisation Project (GERMP) at a total project cost of US$23 million, with the contract awarded to TBEA, a Chinese company. Fafa Sanyang, the country’s Minister of Petroleum…

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Flat6Labs launches capacity building program for regional support structures in Tunisia

TUNISIA – North Africa focused startup accelerator Flat6Labs, has launched Ignite Tunisia, a capacity building program for regional support structures in Tunisia. Launched by Flat6Labs, funded by the European Union and implemented by Expertise France as part of the “Innov’i” project, Ignite Tunisia is a capacity building program for regional support structures in Tunisia. “Ignite Tunisia was born from a reflection of more than two years,” said Yehia Houry, Managing Director of Flat6Labs. “We were able to identify the challenges encountered by the regional support structures which can range from…

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European Union to spend US$1.2b in constructing vaccine factories in Africa

AFRICA – The European Union is planning to invest US$1.2 billion to facilitate construction of vaccine factories in Africa, Commission President Ursula von der Leyen has said. The president added that this will help the continent, where vaccination against COVID-19 has barely begun in many countries, to catch up. The bloc’s head made the pledges in Rome at a health summit of the G20, the world’s major economies. “Preventing future health emergencies means strengthening capacities throughout the world. Today, Africa imports 99% of its vaccines. This has to change. Therefore,…

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Kenya’s horticulture sector gets US$6m boost from EU

KENYA – The European Union (EU) has granted Kenya €5 million (US$6 million) to support Kenya’s horticultural sector achieve sanitary and phytosanitary standards (SPS) as required by the export markets. Under a four-year plan dubbed New Export Trade (NExT), EU aims at increasing the contribution of the horticultural sector to household income.  Deputy Head of Delegation, EU to Kenya, Katrin Hagemann, said this will be achieved through the generation of employment opportunities and foreign currency. She said to improve food security safety and nutrition there is need to increase the…

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