Tag: Startup News
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IFC Proposes $30 Million Equity Investment in Adenia’s Pan-African SME Fund
The International Finance Corporation (IFC) has announced plans to invest up to $30 million in equity in the Adenia Entrepreneurial Fund I, a private equity vehicle that focuses on supporting small and medium-sized enterprises (SMEs) and small-cap companies across Africa.
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Nigerian Drone Startup Terra Industries Secures $11.75m to Expand Homegrown Defence Technology Across Africa
Nigerian defence technology startup Terra Industries has successfully secured $11.75 million in new capital in a funding round spearheaded by 8VC, the venture capital firm co-founded by Palantir’s Joe Lonsdale.
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Acumen’s Hardest-to-Reach Initiative Hits $250 Million to Broaden Clean Energy in Africa
Impact investment firm Acumen has confirmed that its flagship Hardest-to-Reach Initiative (H2R) has successfully raised $250 million in blended finance to expand access to clean and affordable energy across underserved regions in sub-Saharan Africa.
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German DFI DEG Commits $50 Million to DPI’s Fourth Africa-Focused Private Equity Fund
German development finance institution DEG (Deutsche Investitions- und Entwicklungsgesellschaft) has confirmed it will commit $50 million to African Development Partners IV (ADP IV), the latest private equity vehicle managed by Development Partners International (DPI).
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BII Backs Egypt’s Abydos II Solar and Battery Project With $37m Investment to the Clean Energy Transition
British International Investment (BII), the United Kingdom’s development finance institution, has agreed to provide a $37 million investment for the Abydos II Solar PV and Battery Energy Storage System (BESS) project in Egypt, reinforcing the country’s transition to renewable energy.
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SORA Technology Raises Additional $2.5 Million to Scale AI-Driven Malaria Control Across Africa
SORA Technology, a Japanese startup that applies drone and artificial intelligence technologies to public health challenges, has secured an additional $2.5 million in the second close of its late seed funding round.
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Climate Fund Managers Approves $86.2m Financing for Water Infrastructure in Limpopo
Climate Fund Managers (CFM) has given the green light to a $86.2 million mezzanine debt commitment from its Climate Investor Two (CI2) facility to support the early phases of the Olifants Management Model Programme (OMMP) in South Africa’s Limpopo Province.
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South Africa’s Business Partners Launches $4 Million Fund to Back Women-Owned SMEs
South Africa’s Business Partners Limited (BPL) has unveiled a new financing initiative: the Basadi-Women Growth Fund, a R90 million (around US$4 million) facility aimed squarely at supporting women-led small and medium enterprises.
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Sahel Capital Approves Fresh Funding for Benin’s MM LEKKER to Strengthen Market Access for Farmers
Sahel Capital’s social-impact investment arm, Social Enterprise Fund for Agriculture in Africa (SEFAA), has extended an additional financing facility of US$800,000 to MM LEKKER, the Benin-based agribusiness.