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AfDB launches digital data initiative to empower Angolan business

By , ITWeb
Angola , 02 Dec 2022

The African Development Bank (AfDB) has rolled out the Remote Appraisal, Supervision, Monitoring and Evaluation (RASME) project in Angola, following a three-day training session in the capital, Luanda.

RASME is a set of real-time digital data-gathering tools and processes that the financial institution said enables its clients and development partners to better prepare projects, report on progress and evaluate impact openly and transparently.

The initiative was launched in November by Dra Rossana Silva, head of the International Economic Cooperation Department at Angola’s Ministry of Finance, and African Development Bank Group Country Manager for Angola, Pietro Toigo.

Silva said: “Ensuring open and transparent reporting of our development initiatives is central to our mission. RASME is an important enhancement of our capacity to do this.”

Toigo said: "I believe this project can significantly enhance the data collection which we use to assess the effectiveness of our development work here in Angola. It is significant that we are launching RASME in partnership with the Government of the Republic of Angola.”

AfDB’s is helping to deploy RASME in partnership with the World Bank’s Geo-Enabling initiative for Monitoring and Supervision (GEMS) Team - Fragility, Conflict and Violence (FCV), and KoBoToolbox foundation.

The digital data gathering suite of tools used for the RASME project is based on the KoBoToolbox platform, an open-source ICT solution developed by researchers affiliated with the Harvard Humanitarian Initiative.

RASME is currently operational in 14 countries across Africa. The scheme will enhance project-related data collection in inaccessible or remote areas, including those with security and logistical challenges, and thus improve the monitoring and evaluation of the Bank’s development projects.

AfDB said it is especially relevant in the context of the COVID-19 crisis, and in zones with instability, insecurity, and logistical concerns.

Equity investment

In April this year, the financial organisation set aside a €9.8-million equity investment to support venture capital investments in African start-ups, from seed to growth stages.

According to a statement released by the Bank, of the equity investment, €7-million will be sourced from the Bank’s own resources; the additional €2.8-million represents funds provided by the European Union (EU) through a partnership with the Organisation of African Caribbean and Pacific States (OACPS).

Stefan Nalletamby, AfDB’s Director for financial sector development, said: “The Bank’s approval is another milestone in the implementation of the Boost Africa Program and its partnership with the EU, OACPS and the European Investment Bank. It signals the importance given to tech-enabled high growth entrepreneurs on the continent and the key role of AfricInvest and Cathay Innovation in supporting this key business segment in Africa to achieve Africa’s growth, transformation and integration objectives.”

In its current pipeline, over 40% of projects cover more than one African region. Roughly another third of start-ups it invests in are in West Africa. A quarter of investee start-ups are in the health care sector.

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