US investor Root Capital, which targets agricultural businesses in sub-Saharan Africa, has mobilized financing of $35 million with the US development bank DFC to pursue its activity.
The company founded in 1999 by Willy Foote is seeking to expand in the eastern part of the continent, specifically in Uganda, to support farmers in adopting climate-smart agricultural practices; and in the Democratic Republic of Congo (DRC), a central African country, to finance coffee farmers.
"This investment allows Root Capital to reach the most impactful, underserved rural businesses while mitigating risks inherent to the agricultural sector,” said Root Capital’s Chief Financial Officer, Bryan Woliner.
In sub-Saharan Africa, the financing gap for agricultural businesses is estimated at $65 billion, according to data compiled by the Development Finance Corporation- DFC. In 2020, Root Capital tripled its investments in Uganda's coffee production sector to offset reduced commitments in Kenya and Rwanda.
Root Capital will also make additional commitments in Latin America and Southeast Asia.
Chamberline MOKO
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
The World Bank approved an $80 million grant to support local governance and public service delivery. Malawi’s public debt stood at 78.4%...
Madagascar extended its energy emergency by 15 days to manage fuel supply disruptions. The government continues to cap fuel prices while...
Rwanda’s public debt reached 74.8% of GDP, below the 80.5% initial projection. Concessional loans account for 88.2% of external debt, supporting...
Nigeria’s upstream regulator urges private refiners to acquire oil blocks to secure crude supply. Authorities promote vertical integration to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...