The United States International Development Finance Corporation (DFC) Board of Directors has approved $6 million equity investments in two African e-commerce companies. The two companies are Copia Global and Kaisha.
Copia Global leverages mobile technology to deliver essential goods in Kenya. $5 million in equity investment will help Copia Global grow its mobile commerce platform and logistics network, which delivers essential goods like food, personal care products, and school supplies to low- and middle-income consumers in rural and peri-urban areas of Kenya.
In November 2019, Copia Global secured $26 million in a seed funding round led by LGT Lightstone.
Copia’s business model is designed to reach underserved communities including women and individuals earning less than $10 per day, with approximately 70 percent of customers employed by small businesses or farms.
Kaisha empowers women in Rwanda and Kenya through digital access to health products. $1 million in equity investment will help Kasha expand its e-commerce platform, delivering critical health and personal care products—including personal protective equipment—to women and girls across Rwanda and Kenya. Enabling greater access to personal care products will also reduce school absences for girls, enabling them to improve their education.
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.
These investments are part of $3.6 billion total investments approved over the quarter.
United States International Development Finance Corporation (DFC) is America’s development bank. It partners with the private sector to finance solutions to the most critical challenges facing the developing world today. It invests across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets.
The Trump administration set up the DFC in 2018 to replace the four-decade old OPIC.
