The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group subsidiary, announced a $50.3 million guarantee for Nuru’s development of solar-powered metropolitan electricity grids.

This follows previous support from the International Finance Corporation (IFC) which participated in a $40 million Series B funding round for Nuru. Proparco, a subsidiary of the French Development Agency (AFD), also joined the effort.

Nuru, based in Goma, North Kivu province, aims to deploy 15 MW of total capacity across the cities of Goma, Kindu, and Bunia.

Bunia is expected to house the largest network within this portfolio. Additional funding comes from the Renewable Energy Performance Platform (REPP), the Global Energy for People and Planet Alliance (GEAPP), E3 Capital, and GAIA Impact Fund.

Notably, French renewable energy producer Voltalia, along with the Schmidt Family Foundation and the Joseph Family Foundation, also participated in the recent Series B round.

This significant financial backing aims to bring electricity to an estimated 28,000 households and businesses in eastern DRC.

The region faces instability, particularly due to the M23 rebellion. However, Nuru’s management downplays the risks to their electricity infrastructure.

MIGA’s guarantee plays a crucial role in mitigating investor concerns in this fragile environment. “MIGA’s partial expropriation coverage is a novel aspect of the project, ensuring each mini-grid is covered separately,” stated the World Bank Group agency.

The project presents a promising development for expanding access to clean energy in eastern DRC.

Its success could serve as a blueprint for similar initiatives in conflict-prone areas, demonstrating the viability of renewable energy solutions even in challenging environments.

Farm to Feed tackles a significant challenge in the region, where up to half of all crops are lost before reaching consumers.

The platform connects farmers with buyers, focusing on “imperfect” produce that may be perfectly edible but doesn’t meet cosmetic standards.

This not only increases farmer income but also combats food waste, a major contributor to greenhouse gas emissions.

“We witnessed the devastating impact of unsold produce firsthand,” said Claire van Enk, Farm to Feed’s Founder and CEO. “Food loss not only affects food security but also contributes to climate change through methane emissions.”

Farm to Feed utilizes technology and on-the-ground logistics to facilitate efficient food delivery.

Their model goes beyond just sourcing produce; they collect data to understand the root causes of food loss and identify opportunities to improve agricultural practices.

“This partnership strengthens our commitment to ESG practices, aligning with the impact investment focus of CityBlue’s parent company, The Diar Group,” stated Jameel Verjee, CityBlue Hotels’ Founder and CEO.

He made the announcement at the Africa Hotel Investment Forum 2024, encouraging other businesses to join Farm to Feed’s efforts in tackling food security, sustainability, and climate challenges.

This investment positions CityBlue Hotels as a leader in sustainable hospitality practices, supporting a more circular food system in Africa.

This investment will fuel the company’s mission of making affordable and accessible mental healthcare a reality for Africans across the continent.

Founded in late 2021, Blueroomcare provides a platform for clients to connect with licensed therapists through in-app messaging, video chat, and voice calls.

The platform leverages advanced algorithms to personalize the therapy experience, offering users a comprehensive and tailored approach to mental well-being.

The pre-seed funding round was led by EHA Impact Ventures, with participation from TVC Labs and Innovest Africa.

The capital will be used to enhance the Blueroomcare platform’s functionalities, develop new features, and expand the user base.

“We are incredibly grateful for the support of these esteemed investors who share our vision,” said Moses Aiyenuro, founder and CEO of Blueroomcare.

“This funding will empower us to further develop our technology and broaden the scope of our services. We are one step closer to achieving our goal of making high-quality mental healthcare accessible to everyone, everywhere.”

This project aims to significantly increase solar power usage and decrease reliance on diesel fuel.

The initiative is expected to benefit over 2 million people by enhancing the reliability of mobile connections in a country known for having the world’s poorest service.

“This project is a perfect launchpad for the Africa Connected program and Finnfund’s role as an implementing partner of the EFSD+ Guarantees,” stated Valtter Louhivuori, head of Finnfund’s Nairobi office.

The Africa Connected program aims to accelerate investments in impactful digital infrastructure and solutions companies across Africa.

“Improved mobile connectivity fosters economic growth, improves living standards, and promotes inclusivity by providing better access to financial services, education, and healthcare,” Louhivuori added.

The financing package includes investments from the Facility for Energy Inclusion (FEI), managed by Cygnum, and ieng Group’s asset management company, Communication & Renewable Energy Infrastructure (CREI).

These funds will be used to finance CREI’s Telecom Energy Service Company in South Sudan.

The financing will enable CREI to provide “energy as a service” to a telecom stakeholder in South Sudan by developing, building, operating, and maintaining energy infrastructure.