BLOC Smart Africa, a Flagship program of the Smart Africa Alliance, a pan-African initiative to accelerate sustainable socio-economic development, today announces its incorporation and sponsorship from the Governments of Luxembourg and Cote d’Ivoire.

• The Governments of Luxembourg and Côte d’Ivoire have subscribed €10 million into the first loss tranche of BLOC Smart Africa, aiming towards a target of EUR100 million.

• BLOC Smart Africa is a flagship program of Smart Africa and will invest in businesses with scalable technology to create growth opportunities for underserved communities in Africa.

BLOC Smart Africa is a blended finance technology impact fund created and managed by Bamboo Capital Partners. Smart Africa will closely collaborate on fundraising and providing access to its technology ecosystems, including incubators and accelerators, and helping source deal flow.