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
-
Libya Eyes Second Oil Licensing Round, Minister Calls It “90% Certain”
10:07
-
South Africa: $63 Million Pledged to Expand Renewable Energy Investment Market
09:55
-
Burkina Faso: U.S. to launch AI, digital skills training for youth in 2026
09:41
-
Algeria Orders Cybersecurity Units in Public Sector Amid Surge in Cyberattacks
09:32
-
Cameroon diamond output more than doubles in 2025, revenues remain flat
04:18
-
Water deficit cuts output at Nachtigal, Songloulou and Memve’ele
04:16
-
CDC commits CFA2.45bn in inputs to restart banana and palm plantations
04:13
-
Togo steps up dialogue with businesses to restore trust in tax system
17:52
-
Sunday Paul Adah Scales Fintech Platform for Global Education Costs
15:05
-
Steve Nganga Connects Kenyans to Reliable Local Services Through Balozy
15:02
The BoxCommerce–Mastercard Partnership introduces prepaid cards, giving SMEs instant access to e...
Circular migration is based on structured, value-added mobility between countries of origin and host...
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...
President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...
BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...
Libya plans second oil licensing round after strong investor interest Minister says tender “almost 90% certain,” no timetable yet Push...
BII, Alexforbes commit 1 billion rand to Revego energy fund Investment targets secondary market for South African renewable assets Deal...
U.S. to launch digital and AI training programme in Burkina Faso Courses target youth skills at American Spaces in three cities Initiative...
Units report to heads, oversee risk management and incident response Move follows surge in cyberattacks targeting Algeria in 2024 Algeria...
The Khomani Cultural Landscape is a cultural site located in northern South Africa, in the Northern Cape province, near the Kgalagadi Transfrontier Park....
Three African productions secured places among the 22 films competing for the Golden Bear at the 76th Berlin International Film Festival. Berlinale...