AgDevCo secures US$90m to continue to grow its investment activities in agriculture

SUB-SAHARAN AFRICA – AgDevCo, a specialist investor in early-stage African agribusinesses, has announced a US$90 million package of new funding from the CDC Group, Norfund and DFC which will allow AgDevCo to continue to grow its investment activities in agriculture across Sub-Saharan Africa. This is in addition to the announcement of supplementary funding of up to US$5.4 million from CDC,…

Read More

Scott Nathan gets appointed as CEO of USA’s Development Finance Corporation

GLOBAL – U.S. Senate has confirmed the appointment of Scott Nathan as the Chief Executive Officer of United States International Development Finance Corporation (DFC) is a development finance institution and agency of the United States federal government. Scott Nathan most recently served as a senior advisor to the White House Office of Presidential Personnel after having worked on the Biden-Harris…

Read More

Kenyan start-up Apollo Agriculture in US$9.5m pact with DFC for farmer loans

KENYA – Apollo Agriculture, a technology company that works with small-scale farmers to boost their profits, recently agreed to borrow US$9.5 million for up to 10 years from the government-backed US International Development Finance Corporation (DFC). While announcing the 10-year loan, the DFC said the facility would help improve food security in Kenya by boosting Apollo’s ability to support smallholder…

Read More

Electric motorcycle company Ampersand secures US$9m from DFC to boost its operations

RWANDA – Ampersand Rwanda Ltd, Africa’s first electric mobility and financing company, has received a US$9 million credit facility from the U.S. International Development Finance Corporation (DFC) to help boost its operations in Rwanda and Kenya. This credit facility adds to Ampersand’s US$4 million financing from the venture capital fund Ecosystem Integrity Fund (EIF) and Total Energies in April. By…

Read More

Multinational effort brings the first solar field to Burundi

BURUNDI – A multinational effort to bring solar power to Burundi has been realized with the commercial operation of the country’s first-ever solar field.   The pioneering 7.5 MW solar PV plant has increased Burundi’s generation capacity by over 10% and is the country’s first substantial energy generation project to go online in over three decades, supplying clean power to…

Read More

DFC invests US$10m in Nithio FI to scale clean energy financing in Africa

AFRICA – The U.S. Development Finance Corporation (DFC), has invested US$10 million in Nithio’s Financial Intermediary, Nithio FI, an AI-enabled clean energy financing platform, to scale clean energy financing in Africa. Strongly aligned with DFC’s climate-focused investments agenda, this investment enables Nithio to scale its data-driven financing to impact more than 3.5 million people by 2025 and drive climate change adaptation efforts in Kenya, Uganda, and Nigeria.…

Read More

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…

Read More

100MW Kipeto wind power commences commercial operations

KENYA – Pan-African developer BTE Renewables and Kenyan-owned renewable developer Craftskills, has announced that Kipeto Energy Plc has completed the Kipeto wind farm, located in Kajiado County South of Nairobi. All of the project’s 60 wind turbines are now producing power to the national grid, making Kipeto Kenya’s second-largest wind power project providing power to the equivalent of approximately 250,000…

Read More

FSD Africa Investments injects US$4.5m to improve off-grid energy access in Africa

AFRICA – FSD Africa Investments (FSDAi), the investing arm of FSD Africa, has pumped US$4.5 million in Nithio FI, a renewable energy financing intermediary focused on the Pay as You Go (PAYG) off-grid solar sector, to provide reliable and sustainable renewable energy solutions for households and small businesses in Kenya, Nigeria, and Uganda. Nithio Holdings is an Artificial Intelligence (AI)-enabled energy financing…

Read More

Christopher Lundh appointed as Chief Executive Officer for Africell Angola

ANGOLA – Africell Group has announced the appointment of Christopher Lundh as Chief Executive Officer of Africell Angola. Under Mr. Lundh’s stewardship, Africell is expected to deliver on its promise to transform the Angolan telecoms sector by providing affordable, reliable and high-quality mobile telecommunications services to millions of consumers. Christopher Lundh joins Africell after five years as a Managing Director…

Read More