Two Kenyan startups are among the recipients of new transactions approved by the U.S. International Development Finance Corporation (DFC) in the first quarter of FY2025, totalling nearly Ksh387.5 billion (US$3 billion) at the board and sub-board levels.
These global transactions are designed to support key DFC priorities, including health, energy, food security, migration prevention, infrastructure revitalization, small business growth, and other strategic development goals aligned with U.S. foreign policy objectives.
Ilara Health Inc. will receive a Ksh 129 million (US$1 million) loan to enhance private outpatient clinics in Kenya, improving care for underserved communities through the acquisition of diagnostic equipment, health management tools, and pharmaceuticals.
Meanwhile, Safi Organics will benefit from a Ksh 37 million (US$237,500) technical assistance grant for feasibility studies to establish new biochar manufacturing facilities in Kenya. The initiative aims to expand access to affordable fertilizers while empowering local farmers, along with developing biochar carbon credits.
In addition to Kenyan startups, DFC will extend a US$20 million loan to Loinette Capital, an asset-financing company, to assist small and medium-sized businesses across Sub-Saharan Africa in acquiring essential machinery for civil infrastructure and agriculture projects.
Solevo Group, a speciality chemical distributor in Africa, will receive a US$20 million bond investment to enhance its capacity for distributing agricultural inputs in Côte d’Ivoire. The investment aligns with the U.S. Government’s Global Food Security Strategy, aimed at improving food security across the continent by strengthening resilient supply chains and providing high-quality agricultural inputs.
These transactions may undergo additional steps, including congressional notification, before final commitment and closure.
