IFC injects $1mln in Tunisian Anava Seed Fund to support SMEs
Monday, 30 September 2019 17:57
Tunisian startup accelerator and early-stage fund Anava Seed Fund will receive an equity investment of $1 million from the International Finance Corporation (IFC), the World Bank’s private arm.
Half of the money ($500,000) will be provided by the Women Entrepreneurs Finance Initiative (We-Fi), a program hosted by the World Bank Group which empowers women-led businesses in developing countries. The second half is coming from the IFC
The new investment is part of the $30 million “Startup Catalyst” initiative that supports seed funds in emerging markets. It is expected to increase Anava Seed Fund's capital to $10 million, enabling it to support the growth of at least 100 technology companies over the next few years.
Between 2016 and 2018, Flat6Labs Tunis, the manager of Anava Seed Fund, invested more than TND6 million in 28 innovative African start-ups.
Chamberline Moko
Live News
-
Togo hits $1,300 GDP per capita milestone in 2025
14:46
-
Togo's industry and trade sectors post double-digit growth in Q3 2025
14:42
-
Mozambique Launches Drafting of National Digital Transformation Strategy
12:10
-
Charles Dairo Expands Workflow Automation Tools with Beezop
12:07
-
Birahim Babou Uses mLouma to Modernize Senegalese Agriculture
11:59
-
UN revises Togo population data: implications for economic indicators
11:10
-
Tunisia Launches 192 Digital Projects to Modernize State Services
10:27
-
Lomé to Host First GEN-Togo Business Meeting in March
07:16
-
Cameroon Road Fund Gets Only Half of Budgeted CFA60 Billion
20:01
-
For the IMF, Cameroon Still Anchors CEMAC's External Stability — But the Ground Is Shifting
19:59
Absa Kenya hires M-PESA’s Sitoyo Lopokoiyit, signalling a shift from branch banking to a telecom-s...
Ziidi Trader enables NSE share trading via M-Pesa M-Pesa revenue rose 15.2% to 161.1 billio...
MTN Group has no official presence in the Democratic Republic of Congo, where the mobile market is d...
Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...
Global South Utilities (GSU) has begun building a 5 MWp hybrid solar plant with 5 MWh battery st...
Egypt moves to increase fish exports to Italy after EU import ban was lifted in 2024. Talks focus on sanitary standards, inspections and export...
Scatec signs private power purchase agreements for a 255 MW solar plant. The Thakadu project marks its entry into South Africa’s wheeling...
MENA holds 46% of global desalination capacity. Water demand could rise 20%–50% by 2050. Desalination costs have fallen below $1 per cubic meter....
Senegal launched phase 3 of the “Sukaabe Jango” program to provide hot meals to 135,424 students in six southern departments. The initiative will...
While Afrobeat has evolved into what is now known as Afrobeats, there is little dispute that the movement was pioneered by Fela Kuti. A musical genius and...
Benin is guest of honor at the 2026 African Book Fair in Paris. More than 400 authors and 150 publishers from 20 countries are expected. The spotlight...