10 September 2024

n°166
newswatch

Sep 10
Early-Stage VC Launch Africa Ventures Launches Mezzanine Impact Fund
The Launch Africa Mezzanine Impact Fund will invest mezzanine growth capital into leading technology companies that demonstrate strong ESG principles, across multiple sectors and deliver tangible returns, with the objective to unlock scale for Africa’s most impactful businesses.
Source: Disrupt Africa
Sep 9
EU Offers Funds for Southern African Green Hydrogen and Renewables Projects
The EU commission has pledged €50m to Namibian and South African hydrogen-focused funds, of which €25m will go to the SDG Namibia One fund with the aim of advancing production, transportation and storage, as well as downstream industries.
Source: GlobalData
Sep 7
India: SATYA MicroCapital Limited Secures Rs 500 CR (USD 60MN) Debt Funding from Japan Based Sumitomo Mitsui Banking Corporation for Second Time
The new infusion of debt will drive further advancements in SATYA's operational model, fostering innovation in credit offerings, expanding the product portfolio, and enhancing end-to-end business processes for its valued clients. This funding will also support efforts to boost financial inclusion for women micro-entrepreneurs and promote women's empowerment through microfinance.
Source: Business Standard
Sep 6
Norfund Backs Honduran Bank Specialising in Microfinance and SME Lending
The Norwegian development finance institution has invested $10m into Honduran bank Banco Popular to improve access to financial services for micro, small and medium-sized enterprises in Honduras.
Source: Impact Investor
Sep 5
Marie Weijler Joins Nexus for Development as Head of Impact Investing to Drive Climate Funding to SMEs Across Southeast Asia and Bangladesh
At Nexus, Marie will lead the growth of the Pioneer Facility, which offers essential debt financing to growth-stage climate ventures with significant social impact. Her leadership will be crucial in optimizing the fund’s portfolio, driving the expansion of high-impact projects, and advancing Nexus’ goal to foster sustainable development and tackle climate challenges in Southeast Asia and Bangladesh. Nexus for Development is currently fundraising an additional $6 million for the Pioneer Facility to drive access to finance for an additional 32 enterprises by 2027.
Source: Cambodia Investment Review
Sep 5
United Kingdom: Minister for Africa Pledges Funding to Accelerate Growth in Africa Agriculture Sector
Africa Minister Lord Collins has today announced UK backing for a new investment facility that will accelerate the growth of Africa’s food and agriculture sector. During his keynote speech at the Africa Food Systems Forum (AFSF) 2024, Lord Collins committed to providing £25 million for AgDevCo, a UK-based social impact investor dedicated to investing in African agribusinesses.
Source: GOV.UK
Sep 4
Nigeria: PIND Raising $75M Blended Finance Facility to Support Clean Energy, Agric Sectors
The Foundation for Partnership Initiatives in the Niger Delta (PIND) said it is raising a $75 million blended finance facility and a $5 million technical assistance (TA) sidecar facility which focuses on providing concessional local currency debt to beneficiary companies in the clean energy, agriculture, and youth empowerment sectors.
Source: THISDAYLIVE
Sep 3
Impact Investors FMO and BlueOrchard Back Ghana’s Digital Lender Fido in $30M Series B Round
Digital lending platforms have become an easy and swift alternative source of credit for microenterprises and individuals overlooked by traditional banking institutions. This is the market opportunity Ghanaian fintech Fido plans to tap as it explores new markets in East and Southern Africa, sustained by fresh $30 million Series B debt-equity funding. The new capital includes a $20 million equity injection from global impact investment manager BlueOrchard and Dutch entrepreneurial development bank FMO.
Source: TechCrunch
Sep 3
E. Fosseli Olsen, University of Oslo: Development Funding Is Sidelining True Impact Investing
The problem isn't that the development sector needs to take a more active role in early-stage investments; it's that they’ve already taken on too much, sidelining the private sector and stifling true innovation. Development programs, originally intended to catalyze private investment, have instead become substitutes for it.
Source: Devex

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