The funding was unveiled during President Biden’s visit to Angola, marking a significant commitment to supporting African nations in their fight against hunger and related challenges.

The aid package includes nearly $823 million administered by USAID, with over $202 million sourced from the U.S. Department of Agriculture’s Commodity Credit Corporation.

An additional $186 million will be distributed through the U.S. Department of State.

This announcement builds on the commitments made at the 2022 U.S.-Africa Leaders’ Summit, where President Biden reaffirmed the United States’ dedication to addressing food insecurity across the continent.

Africa remains the region most affected by hunger, with the United Nations estimating that one in five Africans—almost 300 million people—faced hunger in 2023.

The number of individuals experiencing acute food insecurity continues to rise, driven by factors such as armed conflict, extreme weather events, and natural disasters.

“Armed conflict, natural disasters, and other emergencies are exacerbating the humanitarian crisis,” the statement noted.

“This funding demonstrates our firm resolve to help save lives and alleviate suffering among the continent’s most vulnerable populations.”

The aid will enable U.S. humanitarian partners to deliver critical services, including emergency healthcare, water and sanitation initiatives, and programs to prevent infectious disease outbreaks.

It will also provide for other essential needs, such as protection, mental health services, education, and shelter.

A key portion of the funding, facilitated by the Commodity Credit Corporation, will support the purchase, shipping, and distribution of U.S. agricultural commodities.

These resources, sourced from American farmers, will directly address acute food insecurity in East and Central Africa.

Despite the United States providing nearly $6.6 billion in humanitarian assistance across sub-Saharan Africa in Fiscal Year 2024, President Biden emphasized that the scale of the crisis requires greater international collaboration.

“We urge other donors to step up in this time of historic need,” he said, calling for expanded efforts to address the growing demand for life-saving aid across the continent.

Founded in September 2023 by Samir Bennani and Charles Pommarede, with Ahmed Omrane later joining as associate CTO, Enakl seeks to transform commuting for millions of workers.

The platform offers accessible, shared transit solutions designed to reduce traffic congestion and carbon emissions while improving reliability.

The funding round, led by Catalyst Fund, included participation from Renew Capital, Digital Africa, Station F, and 15 business angels.

The investment will fuel Enakl’s growth and support its expansion in Morocco and other African markets.

Currently in its pilot phase, the startup operates in Casablanca, managing over 15,000 bookings monthly with a growth rate of 20% per month.

Enakl plans to extend its services to additional cities across Africa.

“This funding enables us to deepen our impact in Casablanca, expand our reach, and accelerate technology development,” said co-founders Bennani and Pommarede.

“By leveraging AI, we aim to optimize routes, enhance commuter experiences, and drive sustainable urban mobility solutions.”

Catalyst Fund’s operating partner, Maxime Bayen, praised Enakl’s scalable, tech-driven model for addressing African urban challenges.

“Enakl is transforming urban transit by reducing emissions and congestion through shared transport solutions. In a climate-conscious world, it represents a leading example of sustainable, inclusive mobility for African cities,” Bayen remarked.

This initiative aims to channel private credit investments into businesses across Africa and other emerging markets.

Managed by responsAbility Investments, SIFEM will serve as an anchor investor, providing critical support to high-growth companies on the continent.

The fund is designed to bolster medium-sized enterprises, contributing to economic resilience, job creation, and sustainable development.

The first close saw participation from notable strategic partners, including the International Finance Corporation and British International Investment as anchor investors.

Standard Bank of South Africa also joined as a credit provider, reinforcing the fund’s financial foundation.

Anthony Mwangi Njoroge, Principal and Co-Head of Africa Fund of Funds at responsAbility, emphasized the transformative potential of the investment.

“This underscores SIFEM’s strong commitment to promoting sustainable development in Africa. By providing essential capital to medium-sized enterprises, we contribute to strengthening economic resilience, creating quality jobs, and supporting businesses that advance both social progress and environmental sustainability,” he stated.

The partnership between SIFEM and responsAbility reflects a shared vision of fostering impactful investments across Africa’s emerging markets, ensuring long-term benefits for businesses and communities alike.

The investment, approved by Morocco’s competition authority, will be supplemented by an additional MAD 100 million ($10 million) from an international financial institution, bringing the total funding to MAD 450 million (around $45 million).

Nabil Triki, Managing Partner and CEO of SPE Capital, expressed enthusiasm for the partnership, saying:

“We are pleased to invest alongside our partner in Dislog Group. Having been shareholders of H&S between 2019 and 2021, we are delighted to see the group’s progress and growth in recent years.”

“We aim to grow together with the goal of successfully achieving an IPO on the Casablanca Stock Exchange within the next two to three years.”

Moncef Belkhayat, CEO of Dislog Group, highlighted the confidence shown by investors:

“I am delighted to see the level of trust Dislog Group has built with investment funds and international financial institutions. Thanks to the efforts of its management and teams in enhancing its attractiveness, Dislog Group continues to strengthen its shareholder base and align its governance with the highest international standards.”

“I warmly welcome the SPE Capital team, with whom we share a close relationship as they were our partners and part of our board members between 2019 and 2021.”

Dislog Group received legal counsel from Hilmi Law Firm, while SPE Capital was advised by DLA Piper, Deloitte FA, and IBIS, which served as its ESG advisor.

This investment marks a significant milestone in Dislog Group’s trajectory as it works toward further growth and a potential listing on the Casablanca Stock Exchange.