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Financial Times: Shell backs African entrepreneur fund

Financial Times: Shell backs African entrepreneur fund

Friday 1 July 2005

By Peter Thal Larsen

The Shell Foundation, the charitable arm of the Anglo-Dutch oil group, has teamed up with western governments and African banks to set up an investment fund devoted to helping budding entrepreneurs in Africa set up businesses.

The fund, which has $23m (€19m, £13m) in capital and available credit, is designed to provide seed capital to start-up businesses in east Africa that have been overlooked by local banks. Peter Thal Larsen, London.

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