BLOC Smart Africa (the Fund), a Flagship program of the Smart Africa Alliance, a pan-African initiative to accelerate sustainable socioeconomic development, announced its incorporation and sponsorship from the Governments of Luxembourg and Cote d’Ivoire.
The Governments of Luxembourg and Côte d’Ivoire will invest a total of €10 million into the BLOC Smart Africa Fund. The announcement follows the Cote d’Ivoire’s previous intention to commit €5 million, announced at the United Nations High-Level Political Forum in July 2020. BLOC Smart Africa is a blended finance technology impact fund with a fundraising target of $100 million created and managed by Bamboo Capital Partners, the specialist impact investor in emerging and frontier markets.