Category: New Investments
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AfDB and UNDP Advance $10 Billion AI Initiative, Plan Expansion to 20 African Countries
The African Development Bank Group and the United Nations Development Programme (UNDP) are advancing implementation of their AI 10 Billion Initiative, which aims to mobilize $1 billion annually over the next decade to support artificial intelligence adoption across Africa.
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EIB Proposes $85 Million Investment in Admaius’ $500 Million Virunga Africa Fund II
The European Investment Bank has proposed an investment of approximately $85 million in Virunga Africa Fund II, a pan-African private equity fund managed by Admaius Capital Partners that is targeting $500 million.
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Cascador and Sterling Bank Announce $200 Million Fund to Expand Nigerian SME Lending
Cascador and Sterling Bank have announced a $200 million SME Credit Backstop Fund designed to help Nigerian small and medium-sized enterprises secure larger, longer-term bank loans with lower collateral requirements.
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Nithio Financing Extends Nigeria’s MAX Series B3 Round to $29 Million
Nithio has provided financing to Nigerian electric mobility company MAX, bringing its Series B3 funding round to $29 million to support the expansion of electric motorcycles and solar-powered charging and battery-swapping infrastructure across African markets.
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AfricaWorks Investment Partners Closes $25 Million Fund for West African Real Estate
AfricaWorks Investment Partners (AWIP), the real estate investment arm of flexible workspace operator AfricaWorks, has closed its second fund with $25 million in equity and debt to acquire and develop mixed-use properties in West Africa.
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ALCB Fund Invests $7 Million in Swami Agri’s $52.2 Million Green Bond in Senegal
The African Local Currency Bond Fund, managed by Cygnum Capital, has invested approximately $7 million in Senegalese agricultural producer Swami Agri’s debut green bond, valued at approximately $52.2 million.
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Kenyan-Founded Satlyt Raises $8 Million to Expand AI Software for Satellites
Kenyan-founded space technology startup Satlyt has raised $8 million in seed funding to expand software that enables satellites to process data and run artificial intelligence applications in orbit.
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Finance Earth and FSD Africa Launch Africa Nature Impact Fund With $100 Million Target
Finance Earth, FSD Africa and its investment arm, FSD Africa Investments (FSDAi), have launched the Africa Nature Impact Fund, targeting $100 million to finance early-stage conservation and nature-based carbon projects across Africa.
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Nigerian Fintech OPay Plans New York Listing as Standard Bank Commits Up to $200 Million
OPay, the fintech company focused primarily on Nigeria, has filed for an initial public offering on the New York Stock Exchange, alongside a proposed investment of up to $200 million from Standard Bank Group.