Abuja gets$40m for African Medical Centre of Excellence
The Africa Finance Corporation has signed an equity investment term sheet, pledging up to
$40m towards the construction of the African Medical Centre of Excellence, a new hospital in Abuja, Nigeria. The 500bed medical health facility is currently being developed by Africa Export-Import Bank (Afreximbank) in partnership with King’s College Hospital, London.
The project is intended to harness KCH’s diagnostic, clinical, and capacity-building expertise. It will specialise in three core non-communicable disease areas – oncology, cardiology, and haematology – with a commitment to worldclass research, education, and development capabilities to establish itself as a leader in clinical services.
Finance and assistance boost for green small and medium enterprises
The African Guarantee
Fund, established in 2011 by Denmark, Spain and the African Development Bank (AFDB), and FSD Africa, a development agency funded by UK aid, have signed a strategic cooperation agreement aimed at propelling the growth of green small and medium enterprises (SMEs) by providing critical financial support, technical assistance, and capacity building. The main aspects of this partnership involve assisting in the development of financial products for institutions, offering partial credit guarantees for bonds and funds raised on behalf of SMEs, and conducting capacity-building events.
Finance plan to boost vehicle sales in SubSaharan Africa
Automaker Stellantis has signed a partnership with Societe Generale bank and distributor Caetano Squadra Africa aimed at facilitating the sale and financing of Stellantis vehicle sales in Sub-Saharan Africa. Under the agreement, the parties will work together to offer customers financial services including loans, leasing and financial rental contracts, as well as the sale of complementary services such as insurance products. “This agreement aims to open up new prospects in the African automotive market by offering innovative financing solutions for Stellantis vehicles. The aim is to create even more value and opportunities for Stellantis customers and dealers in sub-Saharan Africa,” said Marc de Kergariou, director of Stellantis Sub-Saharan Africa.
UN and Google promise to foster digital skills development in Africa
The United Nations Economic Commission for Africa and Google have signed a memorandum of understanding to foster and accelerate digital transformation in Africa. The partnership builds on the African Union Digital Transformation Strategy for Africa (20202030) and Google’s Digital Sprinters Framework to leverage information and communication technologies for the benefit of Africa’s digital economy. It will seek to further explore specific key areas of interest pertaining to digital skills development for Africa’s burgeoning young population by boosting startup development, increasing financial inclusion, strengthening cybersecurity and online safety measures, and advancing AI policy research for policymakers on the continent.