East Africa: DFC announces two e-commerce investments
The US International Development Finance Corporation (DFC) has approved two investments in East African e-commerce businesses.
The DFC has committed $5 million in equity to help Copia Global grow its mobile commerce platform and logistics network, which delivers goods like food, personal care products, and school supplies to low- and middle-income consumers in rural and peri-urban areas of Kenya. Copia’s business model is designed to reach underserved communities including women and individuals earning less than $10 per day, with approximately 70% of customers employed by small businesses or farms.
In addition, the DFC will invest $1 million equity in e-commerce platform Kasha, which delivers health and personal care products to women and girls across Rwanda and Kenya. Kasha’s mobile platform is accessible with or without internet or a smartphone, selling products directly to low- and middle-income women in both rural and urban locations.
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