New Fund Seeks to Reduce Investment Risks in Africa's Mining Sector

Multilateral and bilateral development banks have invested some USD73.6 million in a new venture capital fund that seeks to provide risk capital for junior mining  companies operating within the African region.

The Second Africa-Focused Junior Venture Capital is managed by New Africa Mining Fund and will invest specifically in companies with projects in member countries of the Southern African Development Community, which include Angola, Botswana and the Democratic Republic of Congo.

Among the banks supporting the fund are the African Development Bank, International Finance Corporation, Development Bank of Southern Africa, KfW and the Swiss Investments Fund for Emerging Markets.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.