African Development Bank Group Approves €10,5 Million To Boost Innovation in Sub-Saharan Africa
By Hazel Marimbiza
The board of directors of the African Development Bank Group have approved an equity investment pool of €10,5 million to drive technological innovation across sub-Saharan Africa.
A statement issued by the bank yesterday said: “The African Development Bank Group has approved an investment of €10,5m toward the first close of the Janngo Start-Up Fund, a pan-African tech start-up fund.”
The pooled funds comprise €7 million provided by the African Development Bank and a €3,5 million contribution by the European Union and the Organisation of African, Caribbean and Pacific States.
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