DFC gives $5 million to Senegal’s QuantumID Technologies & 500k to Kenya’s Pezesha for expansion

By
James Musoba
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The U.S. International Development Finance Corporation (DFC) has given $5 million loan to Senegal’ QuantumID Technologies and a 500,000 grant to Kenya’s Pezesha for expansion of their services in their respective countries.

The two are among approved 22 new projects at the board and sub-board levels totaling more than $697 million. DFC says the transactions advance key strategic and developmental priorities across the globe, including strengthening infrastructure, increasing food security, and supporting small businesses.

The $5 million loan to QuantumID Technologies Senegal SASU will provide financing to expand the company’s proprietary technology, management systems, and last mile services to expand access to e-commerce in Senegal while in a move to enable lending to small businesses across Sub–Saharan Africa, the firm has given a $500,000 technical assistance grant to Pezesha Africa Limited to provide the enterprise capital to leverage data science, machine learning, and other advanced computing technologies to further develop its credit scoring algorithm, enhancing its sustainable lending practices to small businesses in Sub-Saharan Africa.

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The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.  

In a move to support critical infrastructure across the African continent, DFC has given up to $250 million loan to Africa Finance Corporation to strengthen its capital position as a key pan-African multilateral development finance institution to support its investment activities, including infrastructure projects critical to economic growth and development.

DFC also gave a $65 million loan to SFC Finance Limited (dba AfricInvest Private Credit) to fund on-lending to small businesses throughout Sub-Saharan Africa, expanding access to term loans and working capital, especially among women-owned and women-led enterprises.

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