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IFC steps up African investments

IFC steps up African investments
Published by:
Andrew Mizner
at 15/03/2021
The World Bank’s private sector development investor has backed multiple projects in the SME sector.
The World Bank’s private sector development investor has backed multiple projects in the SME sector across Africa.
The
International Finance Corporation (IFC), part of the
World Bank Group, has made investments in a range of organisations across Africa, aiming to stimulate progress in the small and medium-sized enterprise (SME) and start-up sectors.
IFC has backed
Savannah Fund, which provides seed funding to start-ups in Sub-Saharan Africa, with a particular focus on female entrepreneurs. Savannah’s fund raising generated a total of USD 25 million, with USD 3 million coming from IFC and a further USD 500,000 from the Women Entrepreneurs Finance Initiative (We-F ....

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Savannah Fund launches $25m fund for African startups. 2 other things and a trivia

Savannah Fund launches $25m fund for African startups. 2 other things and a trivia
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The Brief: Crowdfunding takeoff, SPAC for Black tech founders, African seed fund, climate tech ventures, stock-exchange faceoff

The Brief: Crowdfunding takeoff, SPAC for Black tech founders, African seed fund, climate tech ventures, stock-exchange faceoff
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Savannah Fund launches $25m Africa tech seed fund led by the IFC, WeFi

Alexander O. Onukwue
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Multiple funding opportunities are opening up for African startups from various sources, the latest being from Savannah Fund.
The venture capital firm has raised $25 million to invest in early-stage startups across sub-Saharan Africa, with a focus on “supporting women entrepreneurs and disruptive companies in high-growth sectors.”
This $25 million fund is the firm’s second close and has been aptly named “
Savannah Fund II”. Investment into the new fund was led by the International Finance Corporation (IFC) and the Women’s Finance Initiative (WeFi).
Savannah will invest in Kenyan, Nigerian and South African startups that are at the seed to Series A stage. They define the three countries as their “core markets” but plan to expand their portfolio to include startups in Rwanda, Ethiopia, Uganda, Ivory Coast and Ghana. ....

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IFC invests in Savannah Fund to support Africa's tech startups funding growth

IFC invests in Savannah Fund to support Africa’s tech startups funding growth ....

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