The bulk of the funds will be to provide African banks with greater liquidity to support SMEs, entrepreneurs, and microbusinesses in their regions. These include:A $100 million trade finance loan with a South African bank, ABSA, to support SMEs in southern Africa. An MoU to commit $100 million to CIB of Egypt to allow the bank to further support SMEs and microfinance enterprises. $20 million investment in Adiwale I Fund to support SMEs in West Africa with growth capital. A $20 million investment in Verod Cap Growth III Fund to support SMEs active in high growth sectors in West Africa.

Source: The North Africa Journal January 21, 2020 07:30 UTC