The board of directors of the African Development Bank has approved an equity investment of €9.8 million to support venture capital investments in African start-ups, from seed to growth stages.

Of the equity investment, €7 million will be sourced from the African Development Bank’s own resources; the additional €2.8 million represents funds provided by the European Union (EU) through a partnership with the Organisation of African Caribbean and Pacific States (OACPS).

The...

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