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Promoting industrialization: AfDB pledges $390,000 to the African Hidden Champions initiative

23/02/2023
Source : ORISHAS FINANCE
Categories: Sectors

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The African Hidden Champions Initiative identifies African companies that are working to build capacity to become global leaders in their sector. Its objective is to help companies on their growth journey by revealing their history, introducing them to new markets and networks, and providing them with technical assistance.

Co-founded by Africa Foresight Group (AFG) and the German investment firm Deutsche Investitions-und Entwicklungsgesellschaft (DEG), the African Hidden Champions initiative has received support from the African Development Bank (AfDB). Indeed, Abdu Mukhtar, Director of Industrial Development at the Bank announced that “the African Development Bank is proud to become a partner in the African Hidden Champions initiative, which is perfectly in line with our strategy to stimulate and finance industrial development in Africa.”

A l' en croire, the initiative would receive an envelope of 390 000 dollars pour ses activit s, afin de permettre son expansion et la couverture de nouveaux secteurs et march Summer s in Africa, and to provide more benefits and assistance to members of the AHC initiative.

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