Nigeria Off-Grid Energy Challenge selects its winners for the third edition as it opens application for the fourth one

NIGERIA – Nine Nigerian energy startups have been selected as the winners of the third edition of Nigeria Off-Grid Energy Challenge and will access US$100,000 easy in blended financing. The challenge is run each year by US African Development Foundation (USADF) and All On as part of a multi-year partnership that identifies and helps scale innovative off-grid solutions to “power up” unserved and underserved areas in Nigeria. The winners of the 2020 Challenge are Allbase Global Technology, Ashdam Solar Company, Covenant Plus Engineering, Green Acres Microfinance Bank, Reeddi Technologies, Salpha…

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ESPartners, USADF and Ecobank launch initiative providing assistance to entrepreneurs

AFRICA – Entrepreneurial Solutions Partners (ESPartners), in collaboration with the United States African Development Foundation (USADF) and Ecobank, has launched the African Resilience Initiative for Entrepreneurs (ARIE), a pan-African initiative to provide financial and technical assistance to 300 entrepreneurs (approximately 70 percent of whom will be women-owned) impacted by COVID-19. ARIE will support entrepreneurs from seven countries: Ghana, Ivory Coast, Kenya, Nigeria, Rwanda, Senegal, and Uganda, and in the following sectors: Agri-Business, Manufacturing, Energy and Renewables, and Essential Services. Each SME selected will have the opportunity to receive up to…

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Energy+ secures funding from VentureBuilder, USADF, Cordaid to boost electricity penetration in Mali

MALI —Energy+, a Malian-owned and -managed off-grid solar company has secured funding that amounts to more that US$1 million from a consortium of financing partners led by VentureBuilders to boost electricity penetration in Mali. The funding, according to Energy+ includes equity and fully funded enterprise development services (EDS) from VentureBuilder, which led the round. Energy+ further noted that the funding for its energy program was also comprised of a debt from Cordaid Investment Management (Cordaid), and grant financing from the United States African Development Foundation (USADF). Mali is one of…

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USAID, USADF, Citi Foundation partner to invest in young African social entrepreneurs

AFRICA — The U.S. Agency for International Development (USAID) and the U.S. African Development Foundation (USADF) in conjunction with the Citi Foundation have announced plans to award a total of US$400,000 to 42 young African social entrepreneurs. According to a USADF statement, the entrepreneurs are developing businesses to drive social and community change in 22 sub-Saharan African countries.  The statement further noted that all of the awardees are 2019 Mandela Washington Fellows under the U.S. Government’s Young African Leaders Initiative (YALI). “By pairing seed capital with technical assistance, USAID, USADF,…

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