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(Duncan Alfreds, News24)
(Duncan Alfreds, News24)

Paris - Electrical equipment giant Schneider has set up a fund to finance projects aimed at boosting access to energy in sub-Saharan Africa, the French group said on Monday.

Some "625 million inhabitants of sub-Saharan Africa do not have access to electricity," Schneider said in a statement announcing the €54.5m Energy Access Ventures Fund.

"This lack of electricity impedes social progress and economic development and harms the environment," it said.

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