The G7 development finance institutions (DFIs), the IFC, the private sector arm of the African Development Bank, EBRD, and the EIB yesterday announced that they were committed to investing $80 billion in the private sector over the next five years to support sustainable economic recovery and growth in Africa.

The Covid-19 pandemic has caused a severe global economic and health crisis. The announcement is a welcome boost to support the long-term development objectives of African economi...