Owner of EthioChicken, Uzima Chicken clinches US$14m funding for expansion across Africa

AFRICA – Flow Equity, a high impact poultry business targeting underserved rural households in Eastern Africa, has raised a combined US$ 14 million funding round to grow its operations across the region. Flow Equity operates in Ethiopia via its investment in EthioChicken, and Rwanda and Uganda via its subsidiary Uzima Chicken. The company’s primary product is high-yielding day-old chicks (DOC),…

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Agritech startup Farmerline secures US$1.5m investment from Oikocredit

GHANA – Farmerline, a Ghanaian agritech startup, announced the second close of a pre-Series A investment raise with an additional US$1.5 million investment from Dutch social impact investor Oikocredit. The investment is part of a total funding round worth US$14.4 million raised by Farmerline from investors including FMO and ARAF. Farmerline supports smallholder farmers and agribusinesses with digital tools, logistics,…

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Malawian small-holder farmers to benefit from US$12.3m issued by European Investment Bank

MALAWI – European Investment Bank (EIB) and First Capital Bank (FCB) have signed a 7-year €12.5 million (US$12.3m) loan facility to support sustainable agriculture for socioeconomic development and poverty alleviation in Malawi. The financing is part of the long-term EUR 25 million (US$24.7m) scheme aimed to accelerate agricultural investment in the country. The facility, which has been provided through the…

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BCP, SOWIT partner to boost financial inclusion of Moroccan Farmers

MOROCCO – Morocco’s commercial bank, Banque Centrale Populaire (BCP) has signed a partnership agreement with Moroccan agritech startup SOWIT to provide farmers in the Beni Mellal-Khenifra region with access to innovative diagnostic and monitoring solutions for sustainable and effective farm management. The agreement was concluded as part of the Regional Investments initiative launched by BCP to assist innovative Moroccan solutions.…

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Nigeria-based Jubaili Agrotec secures US$35m financing from IFC to support farmers

NIGERIA – The International Finance Corporation (IFC) has offered a US$35 million financing package to Jubaili Agrotec, a Nigeria-based agrochemicals manufacturer and distributor, to increase smallholder farmers’ access to key input and boost food production to strengthen food security in sub-Saharan Africa. The bank said that the financing package would help Jubaili expand its production capacity in Nigeria, Ghana, Tanzania…

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Ghanaian Agribusiness value chains to benefit from US$15m financing issued by Fidelity Bank

GHANA – Fidelity Bank, a commercial bank in Ghana has received US$15 million loan from eco.business Fund, an impact investment fund advised by Finance in Motion, to finance agribusinesses in the country. The senior loan will be on-lent to a wide range of agribusinesses that cover the entire value chain – from food production to logistics and supply chains across…

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#DEALSTREETNEWS; Anchor secures pre-seed investment, OBM raises funding, Homefarm secures seed capital, Zeew raises seed round

Fintech platform Anchor secures US$1m pre-seed investment Nigerian fintech firm offering banking as a service Anchor, has secured US$1 million in pre-seed investment. Byld Ventures, Y Combinator, Luno Expeditions, Niche Capital, Mountain Peak Capital, and angel investors like SeamlessHR CEO Emmanuel Okeleji support the BaaS fintech. The Y Combinator-backed business intends to utilise this funding to hire top people, upgrade…

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German’s Stihl invests US$4m in regional hub to support small-scale farmers in East Africa

KENYA – German outdoor power tools manufacturer Stihl has injected KSh500 million (US$4.17m) into its new Nairobi hub in a bid to support small-scale farmers acquire farming equipment in Kenya and East Africa at large. The manufacturer of various agro equipment and forest equipment noted that with a majority of Africans engaging in agriculture as their source of livelihood, the…

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#DEALSTREETNEWS; Taaply raises funding, Yango Partners with Bee Group, WamiAgro Raises US$227k, Tana Africa and Sango Capital back Sundry Markets

Cameroonian digital business card provider Taaply raises US$500k The Cameroon-based Taaply, which began life digitising business cards, has raised US$500,000 in funding as it announces the release of a new app and website update. Launched in 2021, Taaply is a digital business card solution aimed at cutting down on carbon emissions in Africa. The recent funding, app and website updates and improvements…

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Agtech supply company iProcure closes US$10m Series B funding to expand geographically

KENYA – iProcure, a tech and data-driven agricultural inputs supply company, has announced the close of a US$10.2 million Series B funding round to support its expansion into Uganda and Tanzania. The fund will also support the launch of a credit offering for agro-retailers to purchase supplies on credit. The debt and equity fund was led by Investisseurs & Partenaires…

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