Agri-Food tech firm DiMuto secures funding to broaden footprint in Latin America

SINGAPORE – DiMuto, a Singapore-based agri-food trade tech platform, has received an undisclosed sum of investment from venture capital studio, Latin Leap to broaden its footprint in Latin America. DiMuto said that the investment and […]

EBRD funds Al Dahra US$5.6m to boost olive oil production in Morocco

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has announced that it is providing a MAD 55 million (US$5.6 million) loan to support the expansion plan of Al Dahra Holding subsidiaries in Morocco, […]

Kraft Heinz, Carlsberg mobilize US$25.8m to support COVID-19 impacted communities

Coronavirus

GLOBAL – Kraft Heinz, the multinational food company co-headquartered in Chicago and Pittsburgh and Danish brewing giant, Carlsberg have joined the global efforts geared towards addressing the very real implications of the Coronavirus (COVID-19) outbreak. […]

EAC seeks funding from US for establishment of aflatoxin legal frame work

EAST AFRICA – The East African Community (EAC) is seeking Sh20 million (US$194,000) financing from US government to facilitate the crafting of a legal framework to guide the fight against cancer-causing toxins threatening the region’s […]

Prosus-backed food delivery start-up Swiggy raises US$113m in Series I funding

INDIA – Swiggy, the Bengaluru-based online food delivery platform, has raised US$113 million as part of its Series I funding round led by its largest existing investor Prosus Ventures, formerly known as Naspers Ventures and […]

Kenyan agri-tech startups secure US$856,000 UK grant funding

KENYA – Kenyan agri-tech startups Illuminum Greenhouses, Juhudi Kilimo and WeFarm have secured US$856,000 in grant co-funding from the UK’s innovation agency Innovate UK to develop Africa’s first solar powered smart sensors with artificial intelligence […]

Egyptian food ordering startup Elmenus raises US$8m in Series B funding

EGYPT – Egyptian food discovery and ordering startup Elmenus has raised US$8 million in Series B funding round as it continues to scale across the country. Founded in 2011 by CEO Amir Allam, elmenus is […]

Nigerian Breweries launches series 5 & 6 commercial paper as part of US$123m financing plan

NIGERIA – Nigerian Breweries has announced the launch of series 5 & 6 commercial paper as part of the brewer’s plan to raise N45billion (US$123m) to support the company’s short-term funding needs. A Commercial Paper […]

Coca-Cola Beverages Africa secures US$50m in funding for its Ethiopian expansion project

ETHIOPIA – Standard Bank, financial services group, has successfully arranged and structured US$50 million in financing facilities for Coca-Cola Beverages Africa (CCBA) to support its expansion strategy in Ethiopia over the next five years. The […]

World Bank backs Kenyan Climate Smart Agriculture project with funding

KENYA – The World Bank has issued over ksh. 40 million (US$ 396, 738) financing to Laikipia County, North-West of Kenya to facilitate the Climate Smart Agriculture programme aimed at empowering rural farmers on climate […]