Eight dynamic African young women-led enterprises have been awarded a total of $800,000 at COP28 for their innovative climate change adaptation solutions. The winners emerged from the 2023 YouthAdapt Challenge , jointly organized by the African Development Bank Group and the Global Center on Adaptation , with support from the Africa Climate Change Fund . Each winning business will receive grant funding of up to $100,000 along with comprehensive mentorship and coaching as part of a 12-month accelerator program. Among the distinguished winners is Deborah Nzarubara , the representative of GRECOM...

The government of Germany has announced an investment of 4 billion euros in green energy in Africa until 2030. This commitment was made during the Compact with Africa conference, which was attended by African leaders and representatives of international organizations. The initiative, launched by Germany in 2017, aims to improve conditions for private sector investment and sustainable infrastructure in Africa, with 13 African countries already participating. German Chancellor Olaf Scholz emphasized the importance of strengthening cooperation between Africa and Europe to achieve climate-...

The Ugandan fintech startup Emata has successfully secured $2.4 million in seed funding , earmarked for the expansion of its digital agricultural loan services across East Africa, with a primary focus on Uganda and potential growth into Tanzania. Emata specializes in providing automated loans to smallholder farmers, effectively addressing the significant agricultural financing gap within the region by offering loans at rates five times more affordable than informal lending alternatives. The company has developed a digital platform that streamlines the lending process and is deeply integrated...

In 2022, despite the ongoing struggles of the COVID-19 pandemic, the GIIF Program successfully delivered significant results and continued building a strong pipeline to strengthen its ties with clients, other WBG projects and the donor community. All activities, projects, events, trainings, studies focus on further developing the markets. Since the launch of GIIF, more than 13 million agriculture insurance policies have been issued cumulatively, with an estimated outreach of 65 million beneficiaries globally. In these difficult conditions, as the GIIF team we would like to emphasize that we...