Cassava Technologies will use the funds to boost connectivity across the African continent, which has historically suffered from underinvestment of its digital infrastructure.
Public equity funds now make up almost 10% of Phenix Capital Group’s impact database, with the vast majority of them investing globally. Half of the funds opted for SDG7: Affordable and Clean Energy as their core investment theme in 2024.
The new initiative falls under BII’s recently launched £100m mobilisation facility that’s aimed at unlocking private capital for emerging economies deemed to be too risky by international investors.
The financing will go to TBC Bank Uzbekistan, the largest mobile-only bank in Central Asia’s most populous country, and will expand loans to women and women-led businesses.
The fund offers investors an evergreen structure with a global approach aimed at solving environmental and social impacts that are aligned with the UN’s Sustainable Development Goals.
The Invest in Women Taskforce aims to tackle the vast gender gap in equity finance in the UK. Funding will go towards supporting firms founded by women, or into a specialist ‘Women backing Women’ fund.
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