Cathay AfricInvest Innovation Fund I
Many African countries face important socio-economic disparities with significant portions of their populations lacking access to finance, energy, and basic services. Innovative businesses offering technology-driven solutions are increasingly recognized as important drivers of economic growth and social impact. They will leapfrog existing delivery mechanisms and provide previously excluded populations access to many of these basic products and services. SIFEM’s investment of EUR 7 million in CAIF I will therefore support a response to Africa’s socio-economic challenges with innovative products and services. It will foster financial sector deepening, financial innovation, and support technological research and innovation as well as social inclusion.