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By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra GHANA – Ghanaian businesswoman and entrepreneur Roberta Annan launched a €100 million fund to channel investment into small and medium African creative and fashion enterprises in Africa. The Impact Fund for African Creatives (IFFAC), will award grants of up to €50,000 to selected projects to accelerate development of the continent’s creative sector. The fund was launched during Paris Fashion week. The Africa Investment Forum, a flagship initiative of the African Development Bank, aims to channel investment into Africa. Annan, who also founded the African Fashion Foundation, said that, in addition to grants, IFFAC will make a further €250,000 – €2 million in venture capital available to African entrepreneurs who complete...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- The African Development Bank said it will support trade valued at $7 billion over the next five years in a bid to spur the growth of the world’s biggest free-trade area. Established in 1964, the AfDB will ensure loans provided to corporations to peddle their products across the African continent in a motion that will promote the improvement of the African Continental Free Trade Area that ran into influence on January 1st, 2021. Firms in 2019 encountered a short in billions in financing trade, according to an analysis done by the Abidjan, Ivory Coast-based lender. The gap has broadened pursuing the the Novel Coronavirus pandemic, that ravaged need and made it tough for companies to fulfill credit requirements...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra GHANA – Angola has signed a Memorandum of Understanding (MoU) with solar project developer, Sun Africa, and U.S.-based AfricaGlobal Schaffer, for a $1.5 Billion mini-grid project to supply solar electricity and drinking water to the southern provinces of Cunene, Namibe, Cuando Cubango and Huíla in Angola. During a visit to the U.S. in September, Angola’s Minister of Energy and Water, H.E. João Baptista Borges, accompanied by the President of Angola, H.E. João Lourenço, signed the MoU during a roundtable on investments in Angola initiated by the United States-Angola Chamber of Commerce. Financial resources for the project will be raised by Sun Africa from the Export-Import Bank of the United States. Expected to stimulate...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- The search engine giant, a unit of Alphabet Inc., inaugurated the Africa Investment Fund, that will subsidize $50 million in startups and empower those corporations with access to Google employees, its network, and other technologies. In partnership with the nonprofit organization Kiva, Google announced, it will contribute $10 million in low-interest loans to enable small business entrepreneurs in Ghana, Kenya, Nigeria, and South Africa get economic dilemmas effected by the COVID-19 pandemic. “Today I’m excited to reaffirm our commitment to the continent through an investment of $1 billion over five years to support Africa’s digital transformation to cover a range of initiatives from...