Tag: Tech News
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EIB Commits $37.5 Million as Egypt’s Tanmiya Capital Fund II Closes at $130 Million
The European Investment Bank has committed $37.5 million through EIB Global to Tanmiya Capital Fund II, helping the Egypt-focused investment fund raise $130 million for growing businesses.
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Madica Secures $6 Million From Flourish Ventures to Back More African Startups
Madica has secured an additional $6 million from Flourish Ventures to invest in 25 to 30 African startups over the next three years.
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DPI Venture Capital’s Nclude Fund Closes Above $112 Million to Back Fintech Across Africa and the Middle East
The Nclude Fund, advised by DPI Venture Capital, has reached a final close of more than $112 million to invest in financial technology and related businesses across Africa and the Middle East.
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Ground Up Investing Secures $6 Million First Close for Fund Targeting East African Agribusinesses
Ground Up Investing, the impact investing arm of Corus International, has announced a $6 million first close for its second fund, which will provide working capital loans to agricultural businesses in Kenya, Uganda and Rwanda, alongside three Latin American markets.
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Camco’s REPP 2 Provides $13.5 Million to Afreenergy Solar for Senegal Expansion
Afreenergy Solar has secured a senior debt facility equivalent to approximately $13.5 million from the Renewable Energy Performance Platform 2 (REPP 2), a private debt fund managed by UK-based Camco, to refinance operating rooftop solar assets and develop new solar and battery storage projects for businesses in Senegal.
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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.