FMO bank and European Commision to invest US$220m under newly signed deal

SOUTH AFRICA – FMO, a Dutch entrepreneurial development bank, and the European Commission (EC) signed a guarantee agreement for the FMO Ventures Program at the Africa Investment Forum in Johannesburg. The EC has provided €40m (US$44m) in guarantees to FMO’s innovative early-stage investment program. This is FMO’s second guarantee program within the European Fund for Sustainable Development (EFSD). FMO Ventures Program will contribute to FMO’s ambition to further strengthen its focus on early-stage investments that deploy an innovative, technology-enabled business model. Such start-ups, often led by young entrepreneurs, have high…

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