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Daily Digest

Daily Digest Wednesday, 8 July 2020

Funding In East Africa “GET IT,” Local Start-up secures additional venture capital funding Lauren Russell Nkuranga, the founder of GET IT, a commercial food distribution service company based in Rwanda, says that investors still have appetite for the country despite Covid-19 pandemic. Nkuranga’s startup completed its Series A funding – the first significant round of venture capital financing Read more Funding In Africa Africa attracted $338mln in private equity investments in June 2020  Companies operating in Africa raised a total of $337.7 million in private equity investments in June 2020, we learned. This does not include the asset management subsidiary of Investec (Ninety One) and the $597 million fund...

Africa attracted $338mln in private equity investments in June 2020

 Companies operating in Africa raised a total of $337.7 million in private equity investments in June 2020, we learned. This does not include the asset management subsidiary of Investec (Ninety One) and the $597 million fund launched by the South African Ethos Private Equity. The largest fundraising over the period was the 131.7 million made by Sanlam for its three funds targeting South African companies affected by covid-19. It was followed by the $90 million raised by the fourth AfricInvest fund for Africa thanks to contributions from Proparco, the International Finance Corporation, and Development Finance Corporation. While many African countries have followed the international movement by reopening their economies, investors...

AfricInvest IV Fund mobilizes $202 million

 AfricInvest IV Fund, the fourth fund launched by Tunisia-based investment firm AfricInvest, reached a total of $202 million in mobilization. Last week, the Commonwealth Development Corporation (CDC) committed $50 million in a one-off grant, the largest to its African partner. The second contributor to this fundraising is Finland’s development finance fund FinFund, which injected $20 million. The other donors include Proparco, which is the private arm of the French Development Agency (AFD), the International Finance Corporation, and the American development finance institution, Development Finance Corporation. The fund, whose total resources are expected to reach $500 million, targets medium-sized African companies that are well-positioned and likely to become strong regional businesses. The fund’s...

Daily Digest Tuesday 7 July 2020

Funding In East Africa With the acquisition of Saham Kenya, MUA confirms its ambitions in East Africa Present in Kenya since 2014, the leading insurance company in Mauritius reaches another important milestone in its expansion strategy in East Africa by completing the acquisition of Saham Kenya. Read more Funding In North Africa France Launches $33.7m Credity Facility For Startups And Small Businesses In Tunisia A new line of credit to support Tunisian SMEs and startups have been made available by the French Government to Tunisian SMEs and SMIs, including 6 million Euros in donation, as part of the acquisition of goods and services of French origin up to 70% minimum.  Read more Funding In...

France Launches $33.7m Credity Facility For Startups And Small Businesses In Tunisia

A new line of credit to support Tunisian SMEs and startups have been made available by the French Government to Tunisian SMEs and SMIs, including 6 million Euros in donation, as part of the acquisition of goods and services of French origin up to 70% minimum.  The establishment of this line of credit is part of the joint effort to help the economic development of the country and to strengthen trade links between Tunisia and France.  The Regional Economic Service and the Agency for the Promotion of Industry and Innovation, with the support of the Business France office in Tunis and the Tunisian-French Chamber of Commerce and Industry are organizing a...

CDC Group, Finnfund Invests $70m Into AfricInvest Fund IV To Support Startups And Businesses Across Africa

The CDC Group and Finnfund have made a $70-million commitment to AfricInvest Fund IV, a generalist Pan-African fund aiming to foster the growth of African enterprises across the continent. Fund IV will invest in mid-cap and growth-oriented companies in sectors including financial services, agribusiness, logistics, manufacturing, healthcare and education. Here Is What You Need To Know CDC, the UK’s impact investor and development finance institution, committed $50-million and Finnfund, the Finnish development financier, committed $20-million. AfricInvest Fund IV is aimed at general African enterprise growth through investing in mid-cap and growth-focused financial services, agribusiness, logistics, manufacturing, health and educational businesses, and will receive USD 50 million from CDC and USD...

Daily Digest Monday, 6 July 2020

Latest News Tennis star Serena Williams has launched a venture firm for investing in women, people of color, and young entrepreneurs The tennis legend publicly shared on Wednesday the details of her investment firm, called Serena Ventures. The venture-capital firm has been quietly backing companies since 2014 and has invested in more than 30 companies already. Read more Funding In Africa African Development Bank concludes R2 billion investment in Nedbank SDG-linked bonds The African Development Bank Group has concluded the investment of R2 billion (around $116 million) in Sustainable Development Goals-linked bonds (SDG bonds) issued by Nedbank South Africa. Read more Actis-Backed African Education Group, Honoris United Universities , Acquires ...

IFC, Proparco Invest $100m Into Humania For Investments In Healthcare In Egypt and Morocco

The IFC, a member of the World Bank group, the IFU, the Danish Investment Fund for developing countries, and PROPARCO, a subsidiary for the private sector of the French Development Agency (AFD) group, have made a capital investment of $ 108.5 million in Humania North Africa (Humania), a platform of private hospitals, helping to improve medical care in Egypt and Morocco.  Here Is What You Need To Know The investment envelope includes a contribution of $ 45 million for the IFC and $ 63.5 million mobilized from the IFU up to $ 43.5 million on behalf of the Danish investment fund SDG, and $ 20 million for PROPARCO.The financial...

Tennis star Serena Williams has launched a venture firm for investing in women, people of color, and young entrepreneurs

The tennis superstar Serena Williams has found time to pick up a side gig — on top of winning championships and taking care of her adorable daughter, that is. The tennis legend publicly shared on Wednesday the details of her investment firm, called Serena Ventures. The venture-capital firm has been quietly backing companies since 2014 and has invested in more than 30 companies already. "I launched Serena Ventures with the mission of giving opportunities to founders across an array of industries," Williams said in her announcement on Instagram. Serena Ventures was created to give opportunities to a diverse set of founders, the firm said, particularly women and people of color....

GFA Attract – Episode 1: Democratizing Wealth

GFA Attract is an interview series conducted by GetFundedAfrica, where we talk to investors and business leaders about 'every and anything'. In the first edition of the GFA Attract segment we showcase a fast emerging player in the African and African Diaspora business world. Mr. Joseph Edgar, who is a renowned investment banker, has successfully transited into the world of Entertainment Production & Publication and shares his insights with GFA and it's audience. Check out Joseph Edgar's profile here His new innovative concept & enterprise - Democratizing Wealth (The Beetle Promise) is one of the topics discussed as he provides insight into this Fintech investment platform...