Browsing: Africa Development Bank (AfDB

The potential of the fourth industrial revolution in Africa report shows an African tech sector taking flight the report was funded by the African Development Bank.

The Technopolis Group carried out research and study of the report. The report was presented during a seminar hosted by the African Development Bank last week.

According to the report, in 2019, approximately 6,500 technology start-ups were identified in Africa, among which about 10% develop applications that characterize the fourth industrial revolution.

Francie Sadeski, partner and lead in emerging markets at Technopolis, said the foundation has been laid for the fourth industrial revolution.

“The figures exceed forecasts and indicate that the basis for Africa’s growth into the fourth industrial revolution is already there,” she said during a presentation on the report.

By 2019, the report notes that venture capital of more than $100 million was invested in African Internet of Things start-ups making it …

The East African Community has for long earmarked the linking of partner countries through roads. One of this link is the link road that connects the coastal towns of Mombasa and Tanga, touching the lives of thousands of commuters and transporting goods and services worth millions.

Recently, the EAC announced that it has increased its funding for key projects from various donors among the Africa Development Bank (AfDB), which has now approved this project.

The Bank’s support for the Mombasa-Lunga Lunga/Horohoro and Tanga-Pangani-Bagamoyo roads Phase I, is in the form of African Development Bank and African Development Fund loans and represents 78.5% of the total €399.7 million project cost.  The European Union contributed a grant of €30 million, 7.7% of the total project cost, to the government of Kenya.

The road is a key component of the East African transport corridors network, connecting Kenya and Tanzania. Producers, manufacturers and traders …