AFC secures US$100m from India Exim Bank, launches AFC Capital Partners

AFRICA – Africa Finance Corporation (AFC), the infrastructure solutions provider on the continent, received a US$100 million credit line from the Export-Import Bank of India (India Exim Bank) to develop the critical infrastructure required to rebuild Africa’s economies in the wake of the Covid-19 pandemic. Proceeds from the 10-year loan will support AFC’s continued mission to bridge Africa’s infrastructure gap and drive the sustainable economic growth that’s urgently required on the continent. India Exim Bank, the sovereign export credit agency of India, has actively sought opportunities to co-finance projects in…

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DFC appoints Lauren Cochran as Vice President of Equity and Investment Funds

GLOBAL – U.S. International Development Finance Corporation (DFC) has appointed Lauren Cochran as Vice President of Equity and Investment Funds. In this role, Cochran will provide executive leadership to DFC’s equity portfolio, building DFC’s strategy to commit private capital into both direct equity and fund investments in emerging market economies globally. She will help drive the agency’s efforts to advance the Biden-Harris Administration’s Build Back Better World (B3W) initiative, including the call for applications for climate-focused investment funds announced by the agency in April 2021. “We are thrilled to welcome…

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Agri-tech startup Releaf raised US$4.2m in seed equity to scale its technology solutions

NIGERIA – Releaf, a startup that develops proprietary hardware and software solutions to drive the industrialisation of food processing in Africa, has raised US$4.2 million in seed equity and grant funding to support the development and scaling of technology solutions for the oil palm sector. Agri-tech startup Releaf was founded in 2017 and took part in the Y Combinator accelerator programme in Silicon Valley the same year, but only started operations in the oil palm space in 2019 and deployed its proprietary technology in January of this year. The startup’s…

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MedTech startup DataPathology raises US$223,000 to improve their services

MOROCCO – DataPathology, a MedTech startup specializing in digital pathology, is raising 2 MDH (US$$223,000) to transform the pathological diagnosis system and improve the services provided to practitioners and patients. This capital increase was carried out with the investment company Witamax, founded by Southbridge A&I and Axxam Family Office. DataPathology raises 2 MDH from the investment company Witamax, founded by Southbridge A&I and Axxam Family Office. The objective of this operation for the start-up is to transform the pathological diagnosis system and improve the services provided to practitioners and patients.…

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Solar energy provider Yellow secures US$4m from Fund manager SunFunder

MALAWI – SunFunder, a fund manager focused on solar energy in sub-Saharan Africa, is providing a US$4 million loan to Yellow, the Lilongwe-based start-up distributes solar home systems that improve access to electricity in rural Malawi and expand its operations. The start-up founded by Mike Heyink distributes solar home systems that provide rural households with access to electricity in this East African country. Given the low standard of living in the countryside, the company allows pay-per-use of its solar home systems via the mobile payment solutions available in Malawi. “When…

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AfDB approves US$50m for its RPA with Standard Chartered Bank

AFRICA – The African Development Bank (AfDB), has approved a US$50 million Trade Finance Unfunded Risk Participation Agreement (RPA) facility between the African Development Bank and Standard Chartered Bank. The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa, in line with implementation aspirations of the African Continental Free Trade Area (AfCFTA). The parties will share the default risk on a portfolio of eligible trade transactions originated by African Issuing Banks and indemnified by Standard Chartered Bank.…

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