Invest International injects $10.8 million in uMunthu II Fund to support African SMEs
The Umunthu II Fund specializes in identifying and investing in high-potential SMEs across various sectors.
By providing capital, strategic guidance, and mentorship, the fund aims to unlock the growth potential of African businesses and contribute to their long-term success.
Invest International’s investment in the Umunthu II Fund will significantly bolster its resources, enabling the fund to extend its support to a broader range of SMEs and fuel their expansion.
The funds will be utilized to provide equity investments, working capital, and capacity-building initiatives, enabling SMEs to scale, innovate, and create sustainable jobs.
The partnership between Invest International and the Umunthu II Fund showcases the commitment of both entities to fostering entrepreneurship and driving economic growth in Africa.
By channeling resources and expertise towards SMEs, the investment will play a pivotal role in addressing the financing gap faced by many African businesses, allowing them to seize opportunities, drive innovation, and contribute to the continent’s economic prosperity.
Invest International’s decision to invest in the Umunthu II Fund is rooted in the recognition of the immense potential and resilience of African SMEs and aligns with its mission to unlock opportunities, create value, and support sustainable development in emerging markets.
Empower Africa Times Newsletter
You may also like...
Joliba Capital, a private equity firm focused on investing in SMEs in West Africa, has announced the first close of its Joliba Fund I at $59m.
Kenya’s President William Ruto has launched the much anticipated East Africa Device Assembly Kenya Limited (EADAK) in Athi River, Machakos County.
The Microsoft-backed FAST (Foundation for African Startups and Technology) Accelerator has announced the selection of 12 promising startups from across Africa for its highly competitive AI program.