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
-
Togo clears accession to two international nuclear safety conventions
21:03
-
Egyptian Edtech Firm Qualiphi Links Universities to Job Market Needs
20:55
-
Nigeria Moves to Coordinate Cybersecurity Response Amid Rising Threats
20:51
-
Côte d’Ivoire Ratifies Agreement to Host Shelter-Afrique Development Bank
20:50
-
Dave Glass Builds Electrum Platform to Modernize Banking Payments
20:45
-
Senegal Rolls Out Digital Waste Initiative with Regional Ambition
20:40
-
Côte d’Ivoire Ratifies Bilateral Tax Agreement with Qatar
20:28
-
Togo deploys 400 boreholes, digital tools to support irrigation farming
20:16
-
Central African Republic Signs $98 Million Agricultural Mechanization Agreement
19:56
-
Cameroon, Switzerland Sign MoU Positioning Obala Institute as Central Africa Agri-Research Hub
19:12
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
First investor town hall since 2021 signals renewed engagement with markets Authorities hi...
Arise IIP plans to invest more than $3 billion in Kenya over five years The company wi...
Efforts to reinforce health systems are gaining pace across Africa, with this week’s developments fo...
Côte d’Ivoire ratifies tax agreement with Qatar to avoid double taxation Deal strengthens trade ties and improves tax transparency, cooperation Move...
Togo launches irrigation project with 400 boreholes under ProMIFA Initiative includes training, digital tools, and community management systems Aims...
CAR signs $98 million mechanization deal with UK-based DSR Group Programme to deploy tractors, equipment, and expand agro-processing...
Starlink agora é autorizado no Senegal, mas redes informais continuam a proliferar em várias localidades. A ARTP alerta que estas práticas constituem uma...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...