Nigeria Off-Grid Energy Challenge selects its winners for the third edition as it opens application for the fourth one

NIGERIA – Nine Nigerian energy startups have been selected as the winners of the third edition of Nigeria Off-Grid Energy Challenge and will access US$100,000 easy in blended financing. The challenge is run each year by US African Development Foundation (USADF) and All On as part of a multi-year partnership that identifies and helps scale innovative off-grid solutions to “power…

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ESPartners, USADF and Ecobank launch initiative providing assistance to entrepreneurs

AFRICA – Entrepreneurial Solutions Partners (ESPartners), in collaboration with the United States African Development Foundation (USADF) and Ecobank, has launched the African Resilience Initiative for Entrepreneurs (ARIE), a pan-African initiative to provide financial and technical assistance to 300 entrepreneurs (approximately 70 percent of whom will be women-owned) impacted by COVID-19. ARIE will support entrepreneurs from seven countries: Ghana, Ivory Coast,…

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Energy+ secures funding from VentureBuilder, USADF, Cordaid to boost electricity penetration in Mali

MALI —Energy+, a Malian-owned and -managed off-grid solar company has secured funding that amounts to more that US$1 million from a consortium of financing partners led by VentureBuilders to boost electricity penetration in Mali. The funding, according to Energy+ includes equity and fully funded enterprise development services (EDS) from VentureBuilder, which led the round. Energy+ further noted that the funding…

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USAID, USADF, Citi Foundation partner to invest in young African social entrepreneurs

AFRICA — The U.S. Agency for International Development (USAID) and the U.S. African Development Foundation (USADF) in conjunction with the Citi Foundation have announced plans to award a total of US$400,000 to 42 young African social entrepreneurs. According to a USADF statement, the entrepreneurs are developing businesses to drive social and community change in 22 sub-Saharan African countries.  The statement…

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