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
-
Madyo Connects Restaurants and Diners in Malawi
05:51
-
DR Congo firm Benesha plans syringe factory as Kinshasa demand tops 10 million monthly
20:22
-
Development Partners Pledge Over $200M for DRC Population Census, Exceeding Funding Needs
20:14
-
African Oil Ministers Boycott London Summit Over Local Content and Inclusivity Issues
20:11
-
Burkina Faso Creates New Body to Streamline Business Climate Reforms
19:47
-
Cameroon banana exports up 7% in 2025 as CDBM and CDC lead growth
18:59
-
WTO e-commerce moratorium debate puts Africa’s fiscal sovereignty back in focus
18:56
-
Cameroon Opens First Robusta Coffee Post-Harvest Processing Center
18:48
-
Togo to Raise 30 Billion CFA Francs on WAEMU Market Through Bills and Bonds
18:46
-
Togo Ranks Second in Africa on Women’s Legal Frameworks, Behind Mauritius
18:43
Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
Novo Nordisk cuts Wegovy prices in South Africa amid competition Move targets rival Eli Lil...
ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...
First investor town hall since 2021 signals renewed engagement with markets Authorities hi...
Benesha to build medical consumables factory in DR Congo SEZ Project aims to cut imports amid strong demand for devices Factory to produce syringes,...
Donors pledge over $200 million for DR Congo census World Bank, AfDB consider major funding and capacity support Census aims to update data...
African oil ministers to boycott May 2026 London energy summit Protest over lack of inclusivity and weak focus on African priorities Move reflects...
Burkina Faso creates unified body for PPP dialogue, business reforms New framework to streamline institutions and improve public fund use Security...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...
Top 50 ranking highlights women across core tourism service segments Tourism contributes $168 billion to GDP and supports over 24 million...