Month: May 2023

Posted on by — Leave a comment

AfDB secures $350 million from JICA to support Africa’s private sector

Key Developments

AfDB secures $350 million from JICA to support Africa’s private sector

| Article

The African Development Bank Group (AfDB) has secured a $350 million loan from the Japan International Cooperation Agency (JICA) to enhance its support for private sector operations in Africa.

The facility will provide the necessary financial resources to support the growth and development of private sector operations in Africa, which will, in turn, create more jobs, increase productivity, and foster inclusive economic growth. The loan will support various private sector operations, including infrastructure development, agribusiness, energy, and manufacturing. It will also provide financing for small and medium-sized enterprises (SMEs) in Africa, which is critical to job creation and economic growth.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

African Startups to benefit from Capria Ventures’ new $100 million fund

Key Developments

African Startups to benefit from Capria Ventures’ new $100 million fund

| Article

Capria Ventures, the global investment firm focused on backing early-stage impact-driven businesses, announced its first Global South Fund II close at $100 million.

The new fund will focus on investing in 20-25 tech startups in Africa, India, Southeast Asia, Latin America, and the Middle East. The Global South Fund II aims to generate positive social and environmental impact in sectors such as healthcare, education, financial inclusion, and agriculture.

The fund’s investors include a mix of development finance institutions, family offices, and institutional investors from around the world.

Key among the investors in the fund includes Gates Ventures, the investment vehicle of tech mogul, Bill Gates. Other institutional investors include Crystal Springs Foundation, Inc., OIP Investment Trust, Sall Family Foundation, and Brakeman Family Trust, as well as two founders of Pioneer Square Labs. The Global South Fund II builds on the success of Capria’s first fund.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

Amethis launches $490 million pan-African fund targeting African companies.

Key Developments

Amethis launches $490 million pan-African fund targeting African companies

| Article

Private equity firm Amethis has launched a $490 million pan-African fund to support high-potential companies across the continent.

With a track record of over 25 investments in 14 countries, Amethis has already significantly impacted Africa’s private equity landscape. The new fund will enable the firm to continue supporting entrepreneurs and businesses, making a difference in Africa’s future. The $490 million fund will focus on investing in high-growth sectors such as healthcare, education, financial services, and consumer goods. Amethis’ latest move comes at a time Africa’s private equity market is rapidly evolving, with the pan-African fund a clear demonstration of the firm’s commitment to driving sustainable socio-economic development on the continent.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

Zembo

StartUp Spotlight

Zembo is spearheading e-mobility revolution in Uganda

| Article

This week we feature Uganda’s Zembo in our startup spotlight.

Zembo is an exciting e-mobility startup that is based in Kampala, Uganda. The startup was founded in 2018 with a vision to revolutionize the transportation sector in Uganda and beyond. Since its inception, Zembo has been at the forefront of promoting sustainable transportation and reducing carbon emissions through its fleet of electric motorcycles. Zembo’s electric motorcycles are designed to meet the needs of the urban commuter in Uganda as they are reliable, efficient, and affordable, making them an excellent alternative to traditional gas-powered motorcycles.

The startup’s business model is built around providing affordable transportation services to commuters in Kampala. The company has received recognition for its innovative approach to sustainable transportation, having previously won the Uganda National Social Entrepreneurship Award, which recognizes businesses that create social and environmental impact.

Related Articles

Register Now

Empower Africa Times Newsletter

You may also like...

Posted on by — Leave a comment

Tanzania’s Kakono gets $300 million to deliver clean energy

Key Developments

Tanzania’s Kakono gets $300 million to deliver clean energy

| Article

Powering up Tanzania: The African Development Bank Group, the French Development Agency (AFD) and the European Union (EU) have teamed up to invest $300m in Tanzania’s Kakono hydropower plant.

The Kakono will be a run-of-river hydropower project with an annual energy-generating capacity of 573GWh. The project, expected to be operational by the end of 2026, will generate clean energy for up to 4 million people. This investment will not only benefit Tanzania but also contribute to the sustainable development of the region.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...