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
-
Kenya to Fund Nairobi Airport Expansion with Proceeds from State Pipeline Firm's IPO
02:53
-
Angola Says Attracted $21.8B in Investment Proposals Over Past Five Years, 80% from China
20:19
-
Dangote Cement Sales Fall in Cameroon After Election Turmoil, With Rebound Expected in 2026
19:48
-
Palm Oil Prices Jump 9% as Middle East Tensions Push Crude Above $100
15:56
-
FCMB Completes Recapitalization to Meet Nigeria’s New Bank Capital Rules
15:52
-
Cameroon Tightens Land Rules, Requiring Chiefs’ Approval for Large land plots
15:26
-
Togo, World Bank assess performance of 18 active projects
14:55
-
Turkey-Togo Relations Take Center Stage at Lomé Diplomatic Club's First 2026 Session
14:48
-
Togo opens applications to upgrade digital capacity of startup support organizations
14:38
-
ProMIFA backs school gardens to strengthen feeding programs in northern Togo
14:30
Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...
The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...
Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with...
EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...
Kenya to fund Nairobi airport expansion using pipeline company IPO proceeds Government allocates $155 million seed capital from National...
Angola receives 596 investment proposals worth $21.8 billion in five years About 80% of proposals came from Chinese investors Reforms and...
Palm oil futures in Malaysia surged 9%, their biggest one-day gain in three years. The spike follows rising oil prices after escalating tensions in the...
Côte d’Ivoire has signed an agreement with the National Investment Bank to support diaspora-led projects. The deal includes tailored banking products,...
Located about forty kilometers east of Lomé along the Gulf of Guinea, Aného is one of the most historically significant towns in Togo. Nestled between a...
African-born artists generated $77.2 million in auction sales in 2024, down 31.9% year-on-year. Women artists accounted for about $22...