Germany extends support to subsidiary companies in Africa

The DEG (Deutsche Investitions- und Entwicklungsgesellschaft), a Development Finance Institution under the KfW Group, is increasing its efforts to support German and European subsidiaries operating and generating value in Africa.

Through the AfricaConnect Program, subsidiaries of German and other European companies now have the chance to obtain new financing at very favorable conditions to help mitigate the challenges faced due to the economic effects of the COVID pandemic.

AfricaConnect was initially created to support European companies as they venture into Africa, but given the latest developments, the new financing line is aimed at companies who are already operating in the countries, creating jobs, and who offer a solid business plan and value proposition.

All relevant information is available on the DEG’s official website.

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