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Lori Systems: facilitating freight transport on the border markets in Kenya and Nigeria
Project
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Signature date
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Location
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Kenya, Nigeria, Multi-country Africa
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Financing tool
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Financing amount (Euro)
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420000
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Financing details
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EUR 420,000 loan
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Customer
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Lori Systems Corp
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Type of customer
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Company
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Project number
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PZZ1565
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Environmental and social ranking
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C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Through the Bridge Fund by Digital Africa, Proparco is supporting Lori Systems which facilitates freight transport by putting freight owners in contact with companies and
individuals.
Client presentation
Lori Systems is a tech-driven logistics services business that seamlessly coordinates haulage across frontier market. The company has built a marketplace that allows for better utilization of assets through the fusion of an extensive on-the-ground operations team, advanced technology and customer service.
Project description
Promoted by Digital Africa and deployed by Proparco, the Bridge Fund by Digital Africa is intended to be an appropriate response to the challenges confronting young innovative African companies, whose development is harmed by the economic impact of the Covid-19 pandemic. A bridge loan was extended to Lori Systems to provide additional runway until the expected Series B.
Project impact
The Bridge fund has been designed to provide an appropriate response to the challenges confronting young innovative African companies, whose development is harmed by the economic impacts of the Covid-19 pandemic.