Norfund and partners to invest in African start-ups
Together with Rwandan pension fund RSSB, Norfund and SOS Children’s Villages are investing in the Katapult Africa Accelerator Program. Nine agriculture and technology start-ups will receive funding to scale up new solutions that will both create jobs and increase food security.
After evaluating over 600 African startups, Katapult has chosen nine companies from five countries featuring some of the most talented entrepreneurs in technologies related to food, agriculture, and climate.
Over a three-month period, the start-ups will go through Katapult’s accelerator programme, with a track record of producing ‘impact unicorns’.
“We are delighted to be able to contribute to set up this pilot to fund and assist start-ups within agri-tech and climate-tech that can create jobs while contributing to food security, in a time where the needs, but also the opportunities, may be larger than ever. We hope that this could lead the way for more funding to flow into these important sectors in the future,” says Bernt Brun, Norfund’s vice president and head of funds.
SOS Children’s Villages work to ensure that no child grows up alone. In 137 countries, it works to strengthen families, provide alternative care, collaborate on strengthening communities and advocate for children’s rights. This is the first time the organisation invests this way together with Norfund.
“Globally, for nine out of 10 children brought into alternative care, the main cause is poverty. For the sake of the children, their families and society, we need to focus more on preventive measures. By joining Norfund in investing in African impact businesses through Katapult Africa, our funds can contribute to creating jobs and more sustainable communities, providing an even stronger safety net for children”, says Sissel Aarak, secretary general of SOS Children’s Villages Norway.