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The African Development Bank (AfDB) plans to release $ 10 million in support of small and medium-sized enterprises (SMEs).
This amount should go directly into the Fund African Guarantee Fund (AGF), specializing in SME financing and strengthening its lending capacity of AGF.
Also, the pan-African institution hopes to "help expand and deepen domestic financial systems in Africa. ". This is expected to boost private enterprise development across the continent and create sustainable jobs.
It should be noted that more than 8,600 SMEs in the continent have already benefited from loans guaranteed by AGF, creating some 86 510 jobs since 2012, according to figures published by the AfDB
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