• 20 May, 2025
• FAITH MIMDOO KEGH
• No comment

DEG and AfDB Join Forces to Promote Business Growth Across Africa.

The African Development Bank (AfDB) and Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a subsidiary of Germany’s KfW Development Bank, have reaffirmed their commitment to deepening private sector development across Africa.

Leaders from both organizations met on May 14, 2025, at AfDB headquarters in Abidjan, Côte d’Ivoire. The discussions focused on expanding collaboration in areas such as private equity, support for small and medium enterprises (SMEs), renewable energy, infrastructure, and industrial development.

AfDB Vice President Solomon Quaynor emphasized the importance of the partnership in unlocking private capital for sustainable growth. “Together with DEG and KfW, we’re building innovative solutions to Africa’s pressing challenges,” he said.

DEG CEO Roland Siller highlighted the long-standing cooperation between the institutions, noting joint commitments of around \$548 million across 20 private equity fund projects and co-financed renewable energy and industrial ventures. “This partnership remains central to our Africa strategy,” Siller said.

DEG’s 2024 portfolio totaled €11.6 billion, with €3.1 billion allocated to Africa and the MENA region. The meeting also explored ways to align ESG standards and foster stronger investment frameworks.

This renewed collaboration aims to create more sustainable economic opportunities and drive impactful development across the continent.

FAITH MIMDOO KEGH

Manager – Oversees the daily operations, editorial planning, and strategic direction of the platform. A graduate with a solid academic foundation in media and communication, Faith brings a wealth of experience to the TokinPoint.

tokinpoint.com