Southern Africa

Innovative businesses and start-ups across Africa will benefit from better access to risk capital thanks to a US$30 million equity investment by EIB Global in the Seedstars Africa Ventures I venture capital fund. Increased access to capital will allow companies to grow, creating skilled jobs and improving products and services for businesses and consumers. The fund will invest in companies developing and implementing digital technologies, in particular those addressing basic needs such as education, healthcare and utilities, or enhancing goods, services and efficiency.

At the United Nations (UN) 5^th Conference for Least Developed Countries (LDC5), the European Investment Bank (EIB) and the European Union (EU) announced new Team Europe support of €14 million to improve the water network on the island of São Tomé. The project, which is part of the EU’s Global Gateway strategy, is expected to bring economic, social and environmental benefits for the country and the communities concerned.

More than 2.5 million people living in the eastern regions of the Democratic Republic of the Congo (DRC) will benefit from faster, cheaper and more reliable digital connectivity thanks to new fibre-optic network investment being rolled out by Bandwidth and Cloud Services Group (BCS) and backed by the European Investment Bank (EIB). Under Global Gateway, the EU’s positive offer for trusted and sustainable connections with partner countries, the new fibre-optic infrastructure will enable high-speed broadband internet in homes, schools and hospitals, opening up access to digital services and information, and contributing to the country’s digital transformation.