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
-
West Africa’s Cashew Ambitions Undercut by Surge in Semi-Processed Exports, Expert Says
08:38
-
Investment Pledges Raise Hope for 200,000 Jobs in South Africa’s Tight Labor Market
08:19
-
After a Weak 2025, Canada’s Asante Rethinks Its Ghana Gold Strategy
07:31
-
U.S. Targets Cameroon’s Critical Minerals, but Flags Investment Risks
07:27
-
Togo clears accession to two international nuclear safety conventions
21:03
-
Egyptian Edtech Firm Qualiphi Links Universities to Job Market Needs
20:55
-
Nigeria Moves to Coordinate Cybersecurity Response Amid Rising Threats
20:51
-
Dave Glass Builds Electrum Platform to Modernize Banking Payments
20:45
-
Senegal Rolls Out Digital Waste Initiative with Regional Ambition
20:40
-
Cameroon, Switzerland Sign MoU Positioning Obala Institute as Central Africa Agri-Research Hub
19:12
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
First investor town hall since 2021 signals renewed engagement with markets Authorities hi...
Arise IIP plans to invest more than $3 billion in Kenya over five years The company wi...
Efforts to reinforce health systems are gaining pace across Africa, with this week’s developments fo...
Exports of semi-processed cashew kernels to Vietnam are rising across the region Experts warn the trend undermines local value addition and...
SAIC 2026 investments are expected to create over 200,000 permanent jobs Projects already underway in energy and infrastructure are driving...
Asante launches strategic review of Chirano and Bibiani mines Output fell sharply in 2025 despite higher gold prices boosting...
U.S. and Australia signal growing interest in Cameroon’s critical minerals Focus includes cobalt, nickel, manganese, rutile, and scandium...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...