Here’s a brief look at the week’s funding activity as it has happened across the continent.
- One Acre Fund received a $5 million loan from Calvert Impact Capital
One Acre Fund has received a $5 million loan from investment company Calvert Impact Capital. The announcement was made by the latter, affirming that the loan will be to “purchase products which will be provided to farmers on credit.”
The loan is to aid the organization in reaching out to more farmers, more locations, and widen programming.
“Over the next 3 years, One Acre Fund expects to reach more than 1 million farmers, pilot programs in new countries, and scout out several other country locations in Asia and Africa,” reads the statement from Calvert.
One Acre Fund receives $5 million to support small-scale farmers - Digest Africa
2. Village Enterprise raised $3.5M from private impact investors
"Village Enterprise has raised $3.5M of working capital from private investors and philanthropic sources."
This is to provide first-time entrepreneurs who live in extreme poverty with seed capital, training and mentoring to start more than 4,600 small sustainable businesses in rural Kenya and Uganda by 2020.
3. Jamii raised $2 Million from NewWave Technologies
The insurtech firm has confirmed investment from Patrick Munis, founder of US-based digital health company NewWave Technologies.
Jamii was one of the 20 scale-ups accelerated by the World Bank’s XL Africa programme last year, and also secured grant funding from the GSMA Ecosystem Accelerator.
Tanzania’s Jamii raises funding from US-based entrepreneur – Disrupt Africa
4. Rensource Energy Raises $579K Debt Financing Loan from Trine
The fund will provide no less than 4,000 shops in Nigeria with access to electricity. Trine is a financial service company that invests in solar energy markets involved in distribution and management of the solar products.
Rensource aims to make Nigeria the first country in the globe to bank predominantly on distributed, renewable-based power generation.
5. Medical Concierge Group raised $200K in Equity Angel Investment
The Medical Concierge Group (TMCG), which celebrated its 5th birthday last week, has announced that it recently closed $200,000 in equity angel investment. The company preferred to keep the details of the investor(s) undisclosed.
However, this is just a part of the entire amount the “consortium of innovative ventures in healthcare” is looking to raise.
“The round is not closed and still underway in an effort to raise 1 million USD before the close of 2018,” Dr. Davis Musinguzi, a co-founder and the Managing Director of TMCG, wrote to Digest Africa in an email.
6. Taz Technologies secured $17,500 from AfriTech Accelerator
Kenya’s Taz Technologies, the startup behind digital addressing solution, Mpost, has been selected among 10 African tech startups that each secured Sh1.7 million ($17,500) in funding, as well as access to partners and mentors.
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