The Trump administration countered Chinese investment in African tech. Will Biden continue?

“In January 2020, Nigerian healthcare startup LifeBank became the first company to receive investment under a new maternal care initiative introduced by the US International Development Finance Corporation (DFC). LifeBank’s 24/7 blood supply business met three criteria for a DFC-funded company; it is a revenue-generating enterprise filling a developmental gap in an emerging market. Using these investment criteria, the DFC has gone on to invest in multiple sectors across Africa. In addition to LifeBank, DFC’s Africa portfolio includes Twiga FoodsCopia (both Kenyan startups), and investments in Angola, Botswana, Chad, Egypt, Gabon, Morocco, Mozambique, Namibia, Senegal, South Africa, and Uganda. The DFC has a $75 billion investment target for people in less developed economies, through loans and direct equity funding into startups, funding VC funds, and providing technical support.  That alone makes its presence in Africa remarkable. Startups working on power generation, healthcare, agriculture, technology, and financial services could access really large tickets for massive scale. But America is changing hands to an ideologically different leadership. How will this influence the DFC’s future approach and impact in Africa?”

Article by Alexander O. Onukwue

Source: https://techcabal.com/2021/01/20/biden-trump-china-investment-africa/

#afrofuturism #blackmusic #blackjesus #blackentrepreneur #blackfuturist #xnubiaphi #afrophysicist #afronaut #afroscientist #afrochemist #afrobotanist #afrotechnology #afroexplorer #afrohorticulturist #blackgenius #blackengineers #NSBE #afroengineers #blacktothefuture #darkmatter #darkscience #theblackvote #afropoliticians #blacksciencefiction #blackspeculativearts #blackownedbanks #blackblueprint #afrofuturistagenda #afrofuturistnews

Get involved!

Curated News for Afrofuturists
Highlighting the intersection between Technology, The Arts, Business, Science, Mythology, and Black Liberation

Comments

No comments yet