East Africa: Bayer Foundation and UNCDF back Omia and SokoFresh
Bayer Foundation philanthropic capital is paired with UNCDF investment expertise.
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Bayer Foundation, working with the United Nations Capital Development Fund (UNCDF), has announced the first two investments under the Food Systems Innovation Finance Facility. The facility deploys catalytic, concessional capital to support food enterprises in underserved markets.
The first transactions are two $500,000 local-currency loans to Omia Agribusiness Development Group in Uganda and SokoFresh in Kenya.
Omia Agribusiness Development Group is an agribusiness company that provides smallholder farmers with access to agricultural inputs, extension support and market linkages. SokoFresh is an enterprise that provides solar-powered cold storage solutions and related services aimed at reducing post-harvest losses.
Bayer Foundation said the financing approach is intended to bridge the gap between grants and commercial capital.
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