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AfDB Launches Pilot Business Development Initiative in the Industries and Services Sectors for Zambia and Tanzania
The Private Sector Department of the African Development Bank (AfDB) is launching a three-month pilot business development initiative in the industries and services sectors in Zambia and Tanzania. As the premier Development Finance Institution in Africa, the African Development Bank Group (the Bank) is engaged in mobilizing resources for sustainable and inclusive growth across the continent. The Bank provides funding for the continent’s growth through its public and private sector windows. Since 2006, the Bank Group has committed on average, financing worth USD 1.5 billion towards private sector led operations across the continent.
The Bank’s recently approved Ten Year Strategy emphasizes the role of the private sector as the main engine for growth and job creation. As such, the Bank will continue to support African businesses and entrepreneurs to unlock the continent’s agricultural and industrial potential. With its triple-A rating and its reputation as an honest broker, the Bank Group can play a meaningful role in the continent’s development.
Responsive and reliable, with a vast experience on the continent, the Bank’s private sector team can share technical expertise and assist in securing co-financing for projects sponsors, beyond providing financing.
The Private Sector Department operates through a Front Office and five Divisions, namely:
(i) Transaction Support Division; (ii) Industries and Services Division; (iii) Infrastructure and PPP Division; (iv) Financial Institutions and Micro-Finance Division; and (v) Portfolio Management Division.
The industry and services division is in charge of projects in the following sectors: mining, oil and gas, agribusiness, education and healthcare. These projects are screened through a rigorous due diligence process focusing both on commercial viability and development outcomes and the few projects that are selected for financing; create a catalytic and demonstration effect in the continent.
The division is interested in engaging with sponsors in Zambia and Tanzania who have project concepts that are aligned to the strategic priorities of the Bank. Project promoters are encouraged to visit the webpage to understand the criteria for project selection. Should your project complies with the criteria specified, you are advised to upload an executive summary of the project, including the project description, the sponsors, cost estimates, financing plan, key technical and environmental features, feasibility indicators, business climate and market prospect, and implementation plan. The Bank’s team will then get in touch with you to take the discussion forward.
African/women entrepreneurs meeting the criteria are strongly encouraged to participate.