AgDevCo, an investor in smaller agribusinesses in Africa, is receiving a funding package of USD 90 million from three development finance institutions (DFIs): USD 50 million in equity from the UK-based CDC Group, USD 20 million in equity from Norway’s Norfund and USD 20 million in debt from the US International Development Finance Corporation (DFC). The organizations
Tag: CDC Group
MICROCAPITAL BRIEF: Satisfied Producer of Palm Oil in DRC Has Been “Brought Back from the Brink,” DFIs Sell Debt Holdings in PHC to Maku; Funding to Improve Community Relationships Will Continue
Four European development finance institutions (DFIs) recently sold their debt holdings in Plantations et Huileries du Congo (PHC), a palm oil business in Democratic Republic of the Congo, to Maku Holdings, an affiliate of Kuramo Capital Management, which has offices in Kenya, Nigeria and the US. The DFIs are
MICROCAPITAL BRIEF: Medical Credit Fund Raises $37m from the Netherlands’ Government, Philips, European DFIs to Boost Financing for SMEs to Fight Malaria, Boost Maternal Health in Africa
Medical Credit Fund (MCF), one of the four nonprofit members of the Netherlands-based PharmAccess Group, recently raised a mix of equity and debt totaling EUR 32.5 million (USD 36.7 million) to “expand the Fund’s presence and support to healthcare providers in sub-Saharan Africa.” In particular, the new funding is slated for investment in
MICROCAPITAL BRIEF: Commercial Bank of Ceylon (ComBank) Secures $50m Loan from CDC Group to Promote SME Lending, Climate Projects in Sri Lanka
The CDC Group, a UK-backed development finance institution formerly known as the Colonial Development Corporation, recently agreed to lend USD 50 million to the Commercial Bank of Ceylon (ComBank) to fund loans to small and medium-sized enterprises (SMEs) as well as climate projects that “support Sri Lanka’s commitment to the Paris Agreement.” Sri Lanka’s goals related to climate change include
MICROCAPITAL BRIEF: CDC Updates Environmental, Social, Governance (ESG) Toolkit for Financial Services Providers, Adding Climate Component
CDC Group, a development finance institution backed by the UK government, recently launched an updated environmental, social and governance (ESG) toolkit to assist financial services providers (FSPs) in addressing common ESG challenges such as corruption, money laundering, and gender-based harassment and violence. It is targeted at
MICROCAPITAL BRIEF: CDC Group Announces $50m Risk-sharing Facility with Absa Bank to Boost Lending to Households, MSMEs in Africa
CDC Group, a development finance institution backed by the UK government, recently announced a risk-sharing facility of USD 50 million in partnership with Absa Bank Limited, which is based in South Africa and operates in 14 African countries. Under the agreement, CDC will
MICROCAPITAL BRIEF: Ascent Rift Valley Fund II Raises $100m from Public, Private Investors for SMEs in East Africa
Kenya-based private equity firm Ascent Capital Africa recently secured USD 100 million at the first rolling close of its Ascent Rift Valley Fund II (ARVF II), surpassing the firm’s initial goal of USD 80 million. The funds will be invested in small and medium-sized enterprises (SMEs) in East Africa, targeting
MICROCAPITAL BRIEF: Agritech CropIn of India Raises $20m in Equity from Investors Including ABC World Asia, CDC Group, Pratithi Investment Trust
CropIn, an agricultural technology (agritech) firm based in India, recently raised USD 20 million in its Series C funding round. The lead investor is ABC World Asia, a private equity firm headquartered in Singapore. ABC World Asia CEO David Heng said the investment
MICROCAPITAL BRIEF: Stanbic IBTC of Nigeria to Borrow $75m from CDC Group for On-lending in Sectors with Significant SME Supply Chains
The CDC Group, a development finance institution owned by the UK government’s Department for International Development, recently agreed to lend
MICROCAPITAL BRIEF: BlueOrchard Raises $140m for “COVID-19 Emerging and Frontier Markets MSME Support Fund” from Schroders, Japan, UK, US
BlueOrchard Impact Investment Managers, a member of the UK-based Schroders Group, recently partnered with Schroders and three development finance institutions to launch an initiative to fund lenders serving micro-, small and medium-sized enterprises (MSMEs) in developing countries that have been disrupted by the COVID-19 pandemic. The group of investors, which has committed a total of
MICROCAPITAL BRIEF: Greenlight Planet Secures $90m in Debt, Equity for Pay-as-you-go Solar in Africa, South Asia
Greenlight Planet, a for-profit social business with offices in Kenya, India and the US, recently secured USD 90 million in debt and equity to expand its sales of pay-as-you-go (PAYG) solar products. The investors are