Root Capital raises $35mln expansion fund
Tuesday, 30 March 2021 16:50
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
Live News
-
Ethiopia Launches Construction Of New Airport Project Aimed At Becoming Africa’s Largest
15:40
-
Togo aquaponics startup turns to soilless farming to face climate risks
14:02
-
Inclusive employment in Africa improves but remains marginal
13:51
-
Senegal updates media watchdog to include digital platforms
13:34
-
Weekly Health Update| Rising diabetes rates raise health risks in Morocco and the MENA region
13:19
-
Cameroon ties passports, vehicle titles to tax compliance in 2026 budget
10:57
-
Togo Opens Professional Master’s Programs at Atakpamé Teacher Training College
05:15
-
Morocco Uses Satellite and RFID to Monitor Fishing Vessels
05:11
-
Senegal to Replace CNRA With New Digital-Age Media Regulator
05:00
-
Togo Ranks as West Africa’s Top Business Climate Performer in B-Ready 2025
04:54
Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...
Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...
African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian b...
Ethiopia begins construction of Africa’s largest airport near Addis Ababa Bishoftu airport planned to handle 110 million passengers annually Project...
Collaborative programs are emerging across Africa to promote inclusive employment Public, private, and international actors are increasingly...
Cabinet approves bill creating the National Media Regulation Council New body replaces the audiovisual regulator set up in 2006 Reform expands...
This week in Africa, Africa CDC continues its clinical trial on mpox, while a new study highlights limits in malaria control efforts. Surveillance against...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...