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Virtual City gets Sh135m loan from US social fund
Virtual City, a local software development firm, has received a Sh135 million ($1.5 million) convertible loan from Acumen Fund for the development of a mobile-based agricultural application to help small-scale farmers market their produce.The investment represents the latest capital inflows from international investors in the local information technology sector, which is emerging as a key target for venture capitalist firms.
- Categories
- Agriculture, Technology
- Region
- Sub-Saharan Africa
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Board Approves Equity Investment of U.S. $100 Million in Agvance Africa
The Board of Directors of the African Development Bank Group (AfDB) approved on 16 May in Tunis, an equity investment of USD 100 million to Agvance Africa, the first agribusiness-focused Fund of Funds on the African continent. The strategic objective of Agvance Africa is to increase private investment flows into the agribusiness sector on the continent to address growing food security concerns and unleash the largely unexploited potential of African agriculture and agribusiness sectors.
- Categories
- Agriculture
- Region
- Sub-Saharan Africa
- Tags
- impact investing
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‘Explore cocoa potential,’ ICCO urges manufacturers
The International Cocoa Coordination Organisation (ICCO), on Wednesday, urged Nigerian manufacturers to explore the potential of cocoa, so as to produce more cocoa-based goods.
- Categories
- Agriculture
- Region
- Sub-Saharan Africa
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Scaling up the fight against poverty and hunger in Africa
Agriculture is a powerful tool for reducing poverty and hunger. Events of recent years – such as food price increases, droughts, growing climate change impacts and other emergencies – have put agriculture high on the international agenda.We should be clear that agriculture is the solution. Economic growth generated by agriculture is more than twice as effective in reducing poverty as growth in other sectors. Agricultural development is also an effective means of assisting developing countries in building capacity and infrastructure as well as introducing innovation and technology.
- Categories
- Agriculture
- Region
- Sub-Saharan Africa
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Avina’s Evolution: After 16 Years, the Foundation Focuses on Building Multiple Bridges
Fundación Avina describes itself as a “broker, co-investor and facilitator” across many countries in Latin America. Indeed, the organization is often working behind the scenes, building both consensus and bridges between multinational companies, governments and microenterprises, often with the goal of bringing marginalized workers into the formal economy. It’s a strategy aimed not merely at reducing poverty in the short term, but breaking the cycle for future generations.
- Categories
- Agriculture, Environment
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Obama turns to private sector to feed world’s poor
WASHINGTON — US President Barack Obama on Friday reached out to the private sector in hopes of lifting 50 million people in the developing world from poverty, as wealthy nations grapple with a budget crunch.
- Categories
- Agriculture, Health Care
- Region
- Sub-Saharan Africa
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The Rockefeller Foundation at 100 Years: The Road Ahead
As part of its centennial celebrations The Rockefeller Foundation has launched various initiatives including the Innovation Challenges. Michael Myers, senior policy officer and director of Centennial Programming at The Rockefeller Foundation answered a few questions about the Innovations Challenge and the centennial.
- Categories
- Agriculture
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NexThought Monday: How Innovative Financing Mechanisms Are Helping Afghanistan’s Farmers
It’s not easy to improve farmers’ livelihoods in any developing country. Add in ongoing violence, feeble institutions, and some of the lowest living standards in the world, and the task can seem nearly impossible. But in August 2010, a project team from DAI landed in Afghanistan to do just that—by implementing USAID’s Agricultural Credit Enhancement (ACE) program, which aimed to lend $100 million to farmers and agribusinesses to invest in agriculture across the country.
- Categories
- Agriculture, Education
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