Browsing: job creation

World Bank further notes that the unified digitisation of the East African economy is estimated to generate up to a US$2.6 billion boost in GDP and 4.5 million new jobs that will largely benefit those at the bottom of the pyramid.

Data by GSMA reveals that by the end of 2020, 495 million people subscribed to mobile services in Sub-Saharan Africa, representing 46 percent of the region’s population, an increase of almost 20 million on 2019.

GSMA revealed that smartphone connections will more than double by 2025 in Sub-Saharan Africa with the East African Community registering the largest incremental growth, led by Rwanda and Tanzania. …

African Development Bank (AfDB) approved a $22 million Senior Loan to help corporate leasing company (Corplease) expand its lending to SMEs in Egypt.

The decision signalled confidence in the growing local market and in Egypt’s economy as a whole.
Out of the $22 million, African Development Bank will mobilize $7 million from the Africa Growing Together Fund (AGTF), a co-financing fund, established with the People’s Bank of China.

Corplease is a leading non-bank financial institution that provides diverse leasing products and services to SMEs and larger corporates, through sale, direct leasing and leaseback, as well as structured finance products. to address funding constraints in the private sector in Egypt, corp lease seeks to provide alternative financing through leases.

Also Read: African Development Bank $1m grant to Burundi

“The need for leasing products in Egypt is growing consistently on an annual basis to meet the acute demand by small, medium and …