The program aims to mobilise more than 1 Billion Euros in sustainable investments in Sub-Saharan Africa.
Program Details
- Geographical Focus: The programme will allocate up to €100 million in guarantee capacity to Sub-Saharan Africa, with a specific emphasis on Least Developed Countries and countries in fragile contexts.
- Sectoral Focus: Targeting digital infrastructure providers and digital platform businesses, the programme seeks to enhance digital connectivity in the region.
- Gender Equality: A core commitment of the programme is to promote gender equality through its investments in the digital sector.
Commissioner's Perspective
European Commissioner for International Partnerships, Jutta Urpilainen, expressed her enthusiasm, stating that the partnership between the EU and Finnfund would help realize a more connected and economically empowered digital future for Sub-Saharan Africa. The guarantee agreement will facilitate sustainable private investments, fostering development in the region.
CEO's Statement
Finnfund CEO, Jaakko Kangasniemi, emphasized the significance of digital infrastructure in Africa's development. He expressed excitement about the Africa Connected guarantee programme, highlighting its potential to accelerate investments in impactful digital infrastructure and solutions companies. The initiative aims to improve connectivity and the usage of digital services, ultimately enhancing living standards and inclusivity in the region.
The Global Gateway Forum and its Significance
The Global Gateway Forum serves as a platform for governments, private sectors, civil societies, and international organizations to promote global investments in infrastructure. It underscores the commitment to sustainable growth and resilience, encapsulating the Team Europe approach.
The Global Gateway Strategy
The Global Gateway strategy represents the EU's commitment to reducing global investment disparities and fostering smart, clean, and secure connections in various sectors. With an aim to mobilize up to €300 billion in public and private investments from 2021 to 2027, the strategy embodies a collaborative approach, reinforcing the resilience of nations through comprehensive development initiatives.
Team Europe's focus on sustainability across social, environmental, and financial aspects highlights its dedication to long-term growth drivers and strategic autonomy for partner nations.
The Africa Connected Programme is a significant stride towards achieving the objectives outlined in the Global Gateway strategy, reinforcing the EU's commitment to fostering development and sustainable growth worldwide.
