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New investments aim to propel small business growth in Africa

German Chancellor Angela Merkel welcomes African Union (AU) Commission Chairman, Moussa Faki
German Chancellor Angela Merkel welcomes African Union Commission chairman Moussa Faki on Oct. 31 in Berlin. Photo: John MacDougall/AFP via Getty Images

African small businesses face an uphill battle attracting equity investments and are constrained by a funding gap of as much as $140 billion, according to a new report from the London Stock Exchange Group.

Why it matters: Small businesses account for nearly 90% of companies in Africa and provide nearly 80% of the continent’s employment, a much higher percentage than the United States' 53%. With Africa’s population set to double to 1.6 billion by 2050, these enterprises will play a critical role in creating local, sustainable jobs.

Angela Merkel to speak at Harvard graduation

Angela Merkel. Photo: Abdulhamid Hosbas/Anadolu Agency/Getty Images

German Chancellor Angela Merkel, who is serving her final term after 14 years in power — will be Harvard's guest graduation speaker in the spring, according to a press announcement.

Details: Harvard president Larry Bacow said Merkel is "one of the most widely admired and broadly influential statespeople of our time...She continues to play a central role in confronting some of the great challenges of our era."

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