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.

Oyster Agribusiness is a key player in connecting smallholder farmers in the Kintampo region of Ghana to large fast-moving consumer goods (FMCG) companies and export markets.

By bypassing traditional aggregators who often take a larger share of the profit margin, Oyster enables farmers to earn more from their produce.

The company currently partners with 4,500 farmers across the region.

Highlighting the significance of Oyster’s work, Deji Adebusoye, a partner at Sahel Capital, noted:

“Oyster Agribusiness is crucial in bridging the gap between rural farmers and FMCG companies that typically lack the infrastructure to source directly. Through Oyster’s efforts, these companies gain greater traceability and compliance with global standards while improving the livelihoods of smallholder farmers.”

Oyster Agribusiness has established a robust farmer database, providing transparency and enabling FMCG partners to trace the origin of their agricultural inputs.

This partnership also allows the companies to better assess the impact of their sourcing activities on the farmers’ well-being.

Edmond Kombat, CEO of Oyster Agribusiness, emphasized the enterprise’s mission to empower farmers who are often underpaid within the value chain. 

“We recognized the challenges farmers faced and set out to enhance their livelihoods by securing better market access and fair pricing. With SEFAA’s support, we aim to expand our reach and create more opportunities for farmers,” Kombat stated.

Since its inception, the company has onboarded 4,500 farmers and established relationships with 14 clients committed to directly purchasing commodities from its network.

Sahel Capital, a prominent agribusiness investment firm, manages two key funds: the Fund for Agricultural Finance in Nigeria (FAFIN), which supports agribusiness SMEs in Nigeria, and SEFAA, which provides structured debt solutions to agribusiness SMEs across 13 sub-Saharan African countries.

The firm is also in the process of raising capital for a successor fund, the Sahel Capital Agribusiness Fund II, to explore further investment opportunities in West Africa.

The company, co-founded in 2021 by Francis Nderitu and Abigail Gachigi, focuses on connecting supply and demand in the fish and chicken value chains.

Its suite of cooling solutions and a B2B app, Markiti, enable seamless transactions between suppliers and buyers.

The Markiti app empowers a network of shops, outlets, and restaurants to order fish and chicken directly from producers.

This innovation provides real-time demand data to farmers and fisherfolk, improving efficiency and market access.

Operating in Kenya and Tanzania, Keep IT Cool’s achievements were recently recognized when it won the 2024 Earthshot Prize.

Co-founder and Managing Director Nderitu highlighted the impact of the funding:

“Our collaboration with Acumen centers on our mutual commitment to uplifting underserved African communities. We strive to empower these communities by boosting their productivity, improving market access, and minimizing waste, ultimately helping to increase their incomes.”

The startup has already demonstrated significant impact, increasing the incomes of 3,600 fisherfolk by over 15% and virtually eliminating post-harvest losses within its network. Its growing customer base includes 40 supermarkets and 2,000 small businesses.

Keep IT Cool is constructing a solar-powered cold chain facility that will increase its capacity sevenfold.

This expansion will allow the company to diversify into fruits and vegetables and serve over 100,000 fisherfolk and farmers effectively.

The funding from Acumen is critical to achieving its vision of scaling operations across the continent.

The investment is part of Acumen’s Forcibly Displaced People (FDP) Lens Investing program in East Africa, which aims to bolster sustainable livelihoods in displacement-affected communities.

The program, supported by the Conrad N. Hilton Foundation, Swiss Agency for Development and Cooperation, and IKEA Foundation, provides capital and technical assistance to small and medium enterprises that support forcibly displaced people and their hosts.

Keep IT Cool’s innovative approach and commitment to community empowerment position it as a key player in addressing food preservation challenges while fostering economic growth across Africa.

The project seeks to boost the adoption of sustainable and cost-effective transportation solutions for electric motorcycle riders in the city.

The hubs will offer affordable battery rentals, optimized charging facilities, and swift after-sales services, with each hub projected to handle 400 to 500 transactions daily for both battery charging and rentals.

In a press statement, Roam revealed that it is one of three demonstration sites selected in Africa by ENERGICA to develop region-specific, innovative clean energy technologies.

“While Roam focuses on expanding clean transport in Kenya, other demonstration sites include Madagascar, where nano-grids are being developed for renewable water and food production, and Freetown, Sierra Leone, where biogas and water purification systems are advancing energy, water, and fertilizer production,” the company stated.

The new Roam Hubs aim to make electric mobility more accessible, transforming Nairobi’s urban transportation landscape into a cleaner and more efficient system.

Solar charging, which underpins the affordability of the hubs, offers additional savings of KSh 10-15 per kWh compared to conventional electricity.

Roam emphasized the alignment of the ENERGICA project with its broader mission of advancing low-emission transport solutions.

“The ENERGICA project aligns seamlessly with Roam’s mission to provide innovative, low-emission transport solutions,” the statement read.

The fund, known as ACO Fund 3, has received support from prominent international institutions, including the International Finance Corporation (IFC), British International Investment, and the Swiss Investment Fund for Emerging Markets (SIFEM).

Standard Bank of South Africa serves as the credit provider for the initiative.

ACO Fund 3 is designed to provide private credit investments to market-leading companies and infrastructure projects across Africa and other emerging markets, aiming to deliver competitive returns for investors.

Nathaniel Micklem, co-head of Ninety One Emerging Market Alternative Credit, expressed enthusiasm for the fund’s launch.

“Along with our partners, we are very excited to be launching our 19th emerging markets private credit fund. The strategy has a long history of supporting growth and infrastructure companies across Africa and other emerging markets,” he said.

He also highlighted the ACO strategy’s strong performance record, stating it has consistently outperformed public and private credit benchmarks while contributing to the development of capital markets in its target regions.

Kalina B. Miller, IFC’s financial institutions group regional industry manager for Southern Africa, emphasized the fund’s potential impact on economic growth. 

“This milestone marks a significant step in our commitment to fostering private sector-led growth and job creation across Sub-Saharan Africa,” she said.

ACO Fund 3 is poised to strengthen private sector growth and infrastructure development across emerging markets, further solidifying Ninety One’s reputation as a key player in alternative credit strategies.

The investment will support eight hydro-powered mini-grids that are set to benefit over 10,000 individuals and local businesses.

Hydrobox, known for its innovative approach to energy access, builds, owns, and operates containerized hydro power plants.

These plants, designed for cost-efficiency and rapid deployment, provide sustainable energy solutions to areas that are often off-grid and challenging to reach.

Leveraging advanced IoT technology, each hydro unit is remotely monitored and managed, ensuring optimal efficiency and minimal downtime.

The $9 million funding was secured from FMO, the Dutch entrepreneurial development bank, and EDFI Management Company, through ElectriFI, an EU impact investment facility dedicated to clean energy projects in developing nations.

The capital injection will enable Hydrobox to expand its operations and provide electricity to 2,582 households across four mini-grids, benefiting a wide range of clients, including factories, farms, schools, hospitals, restaurants, and households.

Hydrobox’s approach harnesses the power of local rivers to generate sustainable energy, reducing reliance on fossil fuels and lowering carbon emissions.

This strategy not only promotes environmental sustainability but also supports local job creation and economic development.

Thomas Poelmans, CEO and co-founder of Hydrobox, emphasized the importance of the new funding and partnerships.

“Our collaboration with esteemed investors FMO and ElectriFI is a testament to the dedication of our team. With these strong partners and a robust pipeline of projects in Kenya and the DRC, we are on track to make a significant impact on energy access in Africa. By 2030, we aim to reach one million end-users,” he said.