Small businesses in Ghana and Côte d’Ivoire to get $7 million from French development agency

Small businesses in Ghana and Côte d’Ivoire will receive $7 million from a French development agency.

The Oasis Africa Fund, which invests in businesses offering healthcare, education, and financial services to vulnerable and underserved populations, scored a $7 million investment from AFD, the French development agency.

The pledge is part of a €250 million ($270 million) equity fund that invests in sub-Saharan African businesses, banks and microfinance institutions in African markets “largely shunned by private equity investors.”

The Oasis fund is looking to invest $500,000 to $5 million in 12 to 15 growth-stage businesses to create 3,000 local jobs, 40 percent for women.

This post originally appeared in ImpactAlpha’s daily newsletter. Get The Brief.

Photo credit: Grecourt Gate

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