Southern Africa

The European Investment Bank (EIB Global) and Stanbic have launched a €20 million (ZWG 525.9 million) credit line, to provide longer-term loans at favourable conditions to small and medium-sized businesses (SMEs) in Zimbabwe. The facility will focus on SMEs and businesses owned or run by women, which employ a significant number of women, or which offer services specifically to women.

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.