IFC could invest an additional $10mln in African startups
Monday, 10 May 2021 15:13
The International Finance Corporation IFC is mulling over pumping an additional $10 million into African startups. The institution should soon reveal whether or not it will participate in the second TLcom Capital fund dedicated for this purpose.
This new fund mainly targets early-stage investments in tech startups in East and West Africa. Particular focus will be on financial technology products and services, e-logistics, e-supply chain, and health technology.
Beyond providing support to startups, TLcom Capital's London-based TideAfrica fund also profits the company. It is estimated that the firm's first fund of $71 million could return nearly three times the initial investment. Its investment amounts range from $500,000 to $10 million.
Idriss Linge
Live News
-
Official Launch of the Winning Consortium Alumina Guinea (WCAG) Alumina Refinery Project 2025
13:29
-
East Africa Rolls Out Major AI Education Drive with University Network
05:50
-
Durban’s Main Container Terminal Set for 25-Year PPP to Drive Modernization
05:46
-
Zimbabwe Targets Rail Revival to Boost Regional Commerce
05:43
-
Eneo to Install 20,000 Smart Meters on Public Buildings in 2026 to Secure State Billing
05:31
-
Cameroon Telecom Investment Jumps 35% to CFA194.49bn in 2024
05:29
-
Mbalam Iron Ore Mine Delays First Exports to Early 2026
05:26
-
CDEC’s Richard Evina Obam Pushes Strict Strategy Amid Resistance
05:23
-
Tône 1 Commune Lays Groundwork for Decade-Long Waste Management Plan
16:00
-
France, Togo Launch CFA620M Local Governance Project
15:52
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...
MindHYVE.ai and IUCEA partner to expand AI training across 170+ East African universities Agreement provides access to advanced agentic-AI tools,...
Transnet and ICTSI sign a 25-year partnership to upgrade Durban’s Pier 2 terminal Private investment aims to boost capacity to 2.8 million TEU and...
The NDS 2 strategy prioritizes rail rehabilitation to support mining and ease road pressure A new 217-km railway from Lion’s Den to Kafue will...
Parliament clears Ivanhoe Atlantic to operate the key Yekepa–Buchanan rail corridor Deal includes nearly $1 billion in fees and $800...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...