Private equity fund unveils US$9.19m to support agribusinesses in Uganda

Private equity fund unveils US$9.19m to support agribusinesses in Uganda

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UGANDA – The Yield Uganda Investment Fund, an European Union (EU) backed agribusiness impact fund has injected US$9.19 million (UGX34bn) into Uganda’s agribusiness sector. The new financing follows the joining of Soros Economic Development Fund, part of Open Society Foundation (OSF) and…

Financial group I&M Holdings invests US$180m in Kenyan unit

Financial group I&M Holdings invests US$180m in Kenyan unit

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KENYA – I&M Holdings, a conglomerate comprising financial service providers, says it has invested an additional US$180 million (Sh1.8 billion) in its fully-owned Kenyan subsidiary whose operations expanded following the acquisition of Giro Commercial Bank. The Nairobi Securities Exchange-listed firm made the…

Trustco enters warrant agreement with Evo Fund as it seeks to raise US$141.28m

Trustco enters warrant agreement with Evo Fund as it seeks to raise US$141.28m

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NAMIBIA – Namibian investment company, Trustco, has said that it has entered into a derivative agreement that could result in a US$141.28 million (N$2bn) capital raise and improved liquidity of its shares. Trustco said that the warrant agreement with Evo Fund could…

AfDB approves US$24.7m for Water and Sanitation Development in South Sudan

AfDB approves US$24.7m for Water and Sanitation Development in South Sudan

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SUDAN – The Board of Directors of the African Development Bank (AfDB) has approved a proposal to commit US$24.7 million to finance the South Sudan Strategic Water Supply and Sanitation Improvement Project. The project will support the rehabilitation of approximately 50km of…

AfDB and partners launch new fund to boost digital financial inclusion

AfDB and partners launch new fund to boost digital financial inclusion

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GUINEA – The African Development Bank in collaboration with partner organisations has launched the Africa Digital Financial Inclusion Facility (ADFI) to accelerate digital financial transactions across the continent. The fund is supported by the Bill & Melinda Gates Foundation, the Agence Française…

European Investment Bank partners Equity Bank in US$66.2m agro-processing loan scheme in Kenya

European Investment Bank partners Equity Bank in US$66.2m agro-processing loan scheme in Kenya

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KENYA – The European Investment Bank (EIB) has unveiled a US$66.2 million (Kshs6.62 billion) financial package for onward lending to farmers and agro-processors servicing demand-driven contracts in Kenya. Dubbed the Kenya Agriculture Value Chain Facility, the financing program was launched in Nairobi…

Sweden’s Norrsken opens East Africa startup fund and hub in Rwanda

Sweden’s Norrsken opens East Africa startup fund and hub in Rwanda

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RWANDA – Norrsken Foundation, a co-working space and investment fund based in Sweden, has opened its tech fund and entrepreneurship hub in Kigali Rwanda to support ventures across the region. The Kigali center is Norrsken’s first launch outside of Sweden and the…