Global development finance coalition commits over $5.5 billion for MSME financing in Africa
The coalition for a sustainable and inclusive recovery of the private sector, an international group of 20 development finance institutions that came together in 2020, today announced commitments of over $5.55 billion of financing to micro, small and medium enterprises (MSMEs) in Africa between mid-2020 and end of 2021, beating their set target of $4 billion over the period.
The coalition said it had exceeded its initial target by 40 percent, while development finance institutions jointly committed over $5.55 billion of financing of micro, small and medium enterprises in Africa over the period.
At the first Finance in Common Summit in November 2020, the EDFI Association, on behalf of its 15 European member development finance institutions, together with the African Development Bank, the West African Development Bank (BOAD), FinDev Canada, the U.S. International Development Finance Corporation, and the Islamic Corporation for the Development of the Private Sector, launched the coalition. The Trade and Development Bank joined it soon after.
The 2022 Hult Prize AAU on-campus program kicks off
The 2022 Hult Prize Addis Ababa University On-campus programs officially kick off in Addis Ababa. HULT prize competition on campus 2022, part of an annual, global competition that crowd-sources ideas from university level students after challenging them to solve a pressing social issue around topics such as food security, water access, energy, and education.
The entrepreneurship competition challenges students to build businesses that contribute to solving a pressing social issue, and be a strong enough business idea, capable of making a profit.
With a US$1,000,000 global startup prize as its anchor activity, the Hult Prize has brought impact-focused programs, events, and training to over a million students globally, creating a pathway for youth everywhere to take action to build a better world.
The Hult Prize competition is a global movement that is student-centered and that revolves around businesses that are aimed at solving various social problems across the world. It brings together some of the brightest and most innovative students from all over the globe in a means to create an environment that can foster innovation of business ideas that are geared towards solving social problems.
Boeing Reaches Record $2 Billion in E-Commerce Sales
Boeing achieved an annual record for e-commerce parts sales last year with more than $2 billion in online orders. Fueled by investment in digital tools, Boeing Distribution Inc. (formerly Aviall) sold nearly 70,000 parts products through its e-commerce site to commercial and government customers, eclipsing pre-pandemic levels. Commercial orders accounted for $1.5 billion in sales, reflecting the continued recovery in the airline industry.
“Our $2 billion closeout to 2021 was a great capstone as the market heads to a more stable recovery,” said Ted Colbert, president and chief executive officer, Boeing Global Services, at the Singapore Airshow today. “Our e-commerce capabilities are a great example of the digital solutions we provide to enable industry recovery and growth. Our focus as always is on bringing value through our products and services, and we will continue to partner with our customers as they navigate this dynamic environment.”
