26 September 2023


Sep 26
Asset Managers Turn To ‘Green Hushing’ on Sustainable Funds
Asset managers have been dropping the word “sustainable” from the names of funds in response to increasing regulatory and reputational concerns.
Source: Financial Times
Sep 25
Tanzania’s NMB Bank Opens $400 Mln Green Bond Program
The bond will be for a period of three years and it will come with an annual interest rate of 9.5% to be paid quarterly, NMB said, and it will be on sale until Oct. 27. NMB's green bond issuance has been supported by FSD Africa, an organisation that helps to deepen financial inclusion on the continent.
Source: Reuters
Sep 22
Singapore: bolttech’s Series B Fundraising Round Reaches Record-Breaking US$246M
Singapore-headquartered international InsurTech, bolttech, has added leading-impact investment firm LeapFrog Investments as a strategic investor in an extension of its Series B round. LeapFrog's $50m investment adds to bolttech's recent Series B funding round, now totalling $246m, the largest ever Series B round for an InsurTech.
Source: Asia Insurance Review
Sep 22
India: Agritech Startup Ergos Raises $10 Million in Funding Led by Abler Nordic
The round saw participation from returning investors such as Aavishkaar Capital, Chiratae Ventures and Trifecta Venture Debt Fund. The capital raised was a combination of $7 million in equity and $3 million of debt.
Source: The Economic Times
Sep 21
Africa: SEFA Finances $10M to Bring Electricity to One Million People
The Sustainable Energy Fund for Africa (SEFA) is providing CrossBoundary Access with $10 million in funding. This financing mechanism for solar mini-grids has set itself the target of electrifying one million people over the next few years.
Source: Afrik21
Sep 21
D. Corbyn and L. Fortes: The Overlapping Impacts of Off-Grid Solar - Four Ways Innovative Funding Can Enable the Sector to Advance Global Climate and Poverty Goals
As a recent paper from GOGLA points out, this transformative technology can unlock opportunity and green growth. It has become a cornerstone of the global effort to achieve universal energy access, and the industry is committed to powering 1 billion lives by 2030. Without off-grid solutions, we will simply not reach the Sustainable Development Goals related to electricity access, climate or other key areas of global development.
Source: Next Billion
Sep 21
IFC Mobilizes $3.5 Billion from Leading Global Insurers to Expand Development Finance
The program, MCPP Financial Institutions III, mobilizes the risk capacity of leading insurers to support more than $7 billion of new IFC medium and long term lending to commercial banks and non-bank financial institutions over the next six years. The program will increase access to finance for micro, small and medium enterprises, including women-owned businesses, as well as firms addressing climate change.
Source: IFC
Sep 20
World Vision and Visionfund Launch Strong Women Impact Fund to Promote Economic Empowerment for Women in Poverty
The Strong Women Impact Fund is a $100 million debt fund that offers investors the opportunity to catalyze significant change in the lives of women and their families. The fund prioritizes serving rural women in 24 countries across four regions.
Source: PR Newswire
Sep 20
Complete Farmer, a Ghanaian Agritech Startup, Gets $10.4 Million Pre-series a to Streamline Operations
The Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital (via its uMunthu II Fund in partnership with Goodwell Investments) co-led the equity part of the round. Proparco, Newton Partners, and VestedWorld Rising Star Fund also took part. Sahel Capital’s SEFAA (Social Enterprise Fund for Agriculture in Africa) Fund, Alpha Mundi Group’s Alpha Jiri Investment Fund and Global Social Impact Investments offered debt financing.
Source: Techpoint Africa
Sep 19
Incofin Sells Its Equity Stake at Unguka Bank in Rwanda
Incofin sold its 28% equity stake that its Rural Impulse Fund (RIF II) had in Unguka Bank to LOC Holdings, one of the leading global financial platforms for micro, small and medium entrepreneurs (MSMEs).
Source: Incofin Investment Management

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