The U.S International Development Finance Corporation (DFC) has invested $25 million in Novastar Ventures to support and invest in early stage startups in Africa
This investment will enable the Pan-African venture capital firm to continue its mission of backing innovative and impactful startups that are driving positive change in Africa. With a focus on sectors such as healthcare, education, and financial inclusion, Novastar has already made significant investments in several African startups.
Novastar will roll out the funding under its new investment vehicle Africa People + Planet Fund. The Africa People + Planet Fund is Novastar’s third pool after the $108 million Africa Fund II, which saw it widen its geographical reach to include West Africa.
The African Development Bank (AfDB) and tech giant Intel have embarked on a groundbreaking initiative to equip Africa with a powerful force in artificial intelligence (AI).
Flutterwave, a leading African payments company, has entered into a five-year technology collaboration with Microsoft to build an upgraded platform on Microsoft Azure.
AfDB apportioned the funding to the African Fertilizer Financing Mechanism (AFFM).
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