Africa benefits from an incredibly young, tech savvy population; over 60% of the population is under 25 years old and in just Senegal the average age of the population is a mere 19 years old. That makes it a hotbed for tech development.
The EBRD decided in 2023 to amend the bank’s charter and allow expansion into Sub-Saharan Africa and Iraq.
Every twelfth person in the world still lives in extreme poverty. That means surviving on less than $2.15 per day (adjusted for differences in living costs between countries).
Moscow’s expanding presence in Africa has largely unfolded in silence, but the shift it represents is profound. Like in the game of Risk, Africa’s sheer size and its treasure trove of untapped raw materials is becoming increasingly important.
Lender notes strong momentum in green and gender financing, in parallel with steadfast support for Ukraine and its real economy.