Member News
15 April 2024
Renew Capital investments in Mozambican fintech platform
Financial inclusion remains a paramount global challenge. However, a Mozambican fintech startup, Roscas, is addressing the problem by introducing digital solutions that empower individuals and communities across the country. Roscas aims to digitize traditional savings groups by integrating digital tools and financial products tailored to the informal sector's needs.
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Member News
10 April 2024
Injaro invests €2mn in West African packaging leader
Injaro Investment Advisors, a Ghanaian private capital fund manager, is excited to announce a EUR 2M equity investment in Nouvelle Mici Embaci (“NME”), one of the leading packaging companies in Côte d'Ivoire and Francophone West Africa. This marks the second investment made by the Injaro Ghana Venture Capital Fund (“IGVCF” or the “Fund”), and the Fund’s first investment in Côte d'Ivoire.
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Member News
9 April 2024
Renew Capital invests in Ghana for financial inclusion
Affinity, a full-scale digital bank, was established with a bold vision to provide banking services to 350 million adults who remain unbanked in Africa. Operating as a digital banking platform, Affinity offers a full suite of banking services, including current, savings and investment accounts, transfers, payments and loans with a targeted focus on financially excluded populations in Africa.
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Member News
8 April 2024
Africa50, Oikocredit, Injaro, and Verdant invest in fintech expansion in Africa
The investment was led by Africa50 and Oikocredit, with participation from Injaro Ghana Venture Capital Fund (IGVCF) and Verdant Capital Hybrid Fund. The transaction also included a follow-on investment from Investisseurs & Partenaires (I&P), through its I&P Afrique Entrepreneurs II (IPAE 2) investment vehicle. The investment will support the expansion of Zeepay’s cross-border remittances and mobile financial services businesses across Africa and the Caribbean.
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Member News
28 March 2024
Open Society invests US$25mn to boost global climate projects
The Soros Economic Development Fund (SEDF), the impact investment arm of the Open Society Foundations, is committing $25 million to Allied Climate Partners (ACP)—a new and innovative public-private partnership focused on increasing the number of bankable climate projects in emerging markets and developing economies around the world.
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Member News
22 March 2024
AfDB, BII, DEG, FMO, IFC and others invest in fertilizer production in Nigeria
IFC today announced a $1.25 billion financing package alongside partners to Indorama Eleme Fertilizer and Chemicals Limited in Nigeria. The investment will allow Indorama to ramp up its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets, while fostering job creation in Nigeria.
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Member News
20 March 2024
IFC partners in US$5mn investment to boost African startup ecosystem
To bolster the startup ecosystem in Africa, IFC today announced a $5 million equity investment in P1 Ventures, a pan-African venture capital fund focused on pre-seed and seed stage investments in fintech, health, e-commerce marketplaces, and software.
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Member News
19 March 2024
Admauis Capital Partners invests in Egyptian healthcare and wellness company
Admaius Capital Partners (“Admaius”) (www.Admaius.com), an Africa focussed private equity investor operating across several growth markets, today announced a strategic partnership with Parkville Holding Company B.V. (“Parkville” or the ‘Company’), a leading healthcare and wellness company in Egypt operating across several high-growth sub-segments.
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Member News
19 March 2024
AfricInvest in $100mn series B global mobility fintech deal
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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Member News
11 March 2024
Aruwa Capital Management co-leads US$3mn investment in diagnostics service provider
Aruwa Capital Management, an early-stage growth equity and gender lens fund investing in Nigeria and Ghana, is pleased to announce a $1.5 million investment into MDaaS Global (“MDaaS” or the “Company”), a modern, tech-enabled healthcare company enabling clinically underserved communities, access to quality and affordable healthcare and diagnostic services across Africa. The round was co-led by Aruwa Capital Management and Newtown Partners, an existing investor along with participation from Ventures Platform.
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Member News
8 March 2024
Bpifrance co-invests in global technology investment firm
• Mubadala and Bpifrance jointly invest in Partech Africa II, which reached a hard cap of €280mn • Partech Africa II is the largest venture capital fund dedicated to technology startups in Africa • This is the first investment made through the Africa co-investment partnership between Mubadala and Bpifrance Mubadala Investment Company (“Mubadala”), an Abu Dhabi-based global sovereign investor, and Bpifrance, the French public investment bank, today announced a joint investment in global technology investment firm Partech's latest Africa-focused venture capital fund, Partech Africa II.
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Member News
4 March 2024
IFC invests US$5mn to support trade development in Guinea
To help boost trade in Guinea amidst local and global challenges, IFC today announced a trade finance facility of up to $5 million for Coris Bank International Guinea (CBI Guinea).
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Member News
28 February 2024
DEG's €1.9bn investment drives sustainable development impact
Deutsche Investitions- und Entwicklungsgesellschaft mbH, continued to forge ahead in 2023 despite a still challenging environment: It committed a new record volume of EUR 1.9 billion for private investments in developing and emerging countries (2022: EUR 1.6 billion). DEG mobilised a further EUR 613 million from other investors, significantly more than in the previous year (2022: EUR 487 million). The DEG portfolio grew to EUR 10.3 billion.
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Member News
21 February 2024
Verod invests in West Africa's top fitness chain
Verod, a leading prominent African investment management firm specialising in private equity and venture capital, has invested in i-Fitness, West Africa’s largest and fastest-growing fitness chain. This investment is the most recent investment from the Verod Capital Growth Fund III, marking the sixth addition to the fund’s portfolio.
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Member News
21 February 2024
AFC investment in AMCE Nigeria
Africa Finance Corporation (AFC), the continent's leading instrumental infrastructure solutions provider, today signed an equity investment term sheet, pledging up to US$40 million towards the construction of the African Medical Centre of Excellence (AMCE) Abuja hospital. The visionary 500-bed medical health facility is currently being developed by Africa Export-Import Bank (Afreximbank), the leading trade finance bank for Africa, in partnership with King’s College Hospital, London (KCH). The agreement was signed at the inaugural AMCE African Health Forum in Abuja.
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Member News
15 February 2024
UBS Optimus Foundation and SEDF invests US$20mn in East Africa oxygen project
Hewatele, a medical oxygen producer in Kenya, has secured a 20 million USD funding package from Finnfund, DFC (the U.S. International Development Finance Corporation), SEDF (Soros Economic Development Fund), UBS Optimus Foundation and Grand Challenges Canada. Hewatele will use the debt and equity funds raised to finance the building of a liquid oxygen(LOX) manufacturing facility some 20kms in the outskirts of City of Nairobi, together with regional distribution capacity at key strategic regions within Kenya, while also doubling its existing capacity at hospital-based sites to produce and distribute medical oxygen using pressurized gas cylinders (GOX).
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Member News
12 February 2024
Amethis invests in North African data management consultancy firm
Amethis completes a minority investment in BBI, the leading data management consultancy firm in the MENA region.
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Member News
12 February 2024
Swedfund's investment fuels financial inclusion in West Africa
Swedfund invests USD 5 million in a loan to Teyliom Finance, a subsidiary of Teyliom Group, a leading pan-African group active in five industries, across twelve countries. The investment is directed towards Bridge Bank Microfinance to strengthen financing for micro, small and medium sized enterprises (MSMEs) and is expected to enhance financial empowerment of women in Côte D'Ivoire.
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Member News
7 February 2024
EIB invests €115mn in MEDZ for Moroccan technology park expansion
The EIB is providing €115 million (approximately MAD 1.3 billion) to MEDZ, a wholly owned regional development subsidiary of CDG Group, to expand and modernise ten technology parks strategically located in five Moroccan regions. This financing reaffirms EIB cooperation with CDG Group.
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Member News
5 February 2024
Old Mutual announces investment in Afropulse Group
Old Mutual Alternative Investments (OMAI), through its Hybrid Equity capability, a specialist in innovative financial solutions, today announced a transformative R125 million preference share facility to Afropulse Group, a wholly black women-owned investment holding company, to restructure its funding, which is backed by an equity interest in Imperial Logistics South Africa, one of the country’s largest logistics firms.
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Member News
1 February 2024
Avanz Capital takes stake in Egyptia-based Bosta
Avanz Capital Egypt (ACE), the Egyptian private capital arm of Avanz Capital Management, and the General Partner of Avanz Manara for Private Equity (Avanz Manara) announced the investment in Bosta through Avanz Manara alongside other reputable institutional private capital firms. This investment aligns with the Avanz Manara mandate of supporting the growth of small and medium enterprises (SMEs) in Egypt by making direct co-investments in SMEs or investing in SME focused private equity and venture capital funds. Avanz Manara is an Egyptian direct investment company regulated by FRA and was established in 2022 by predominant Egyptian banks and financial institutions.
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Member News
30 January 2024
Swedfund Invests in SME growth in francophone Africa
Sweden’s Development Finance Institution, invested 15 MEUR Joliba Capital Fund I. The investment will enable growth of small and medium sized companies which are key for private sector growth and job creation in the least developed regions of Francophone Africa.
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Member News
25 January 2024
Renew Capital invests in Sawa Energy
Confronting the critical challenge of energy in East Africa, Sawa Energy is changing how small and medium businesses access power. With operations in Rwanda and Uganda, Sawa Energy eliminates upfront costs, making solar and energy-efficient solutions more accessible and affordable.
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Member News
25 January 2024
FMO invests US$10mn in clean energy distribution in Africa
FMO, the Dutch Entrepreneurial Development Bank, has provided climate fintech platform Nithio with a USD 10 mln in funding for its investment vehicle, FAIR: the Facility for Adaptation, Inclusion, and Resilience. FAIR provides financing to companies offering clean energy solutions to households and small enterprises in Africa.
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Member News
23 January 2024
IFC invests in Sonatel's securitization for Senegal connectivity
To help expand reliable 4G coverage in Senegal, especially to rural and underserved parts of the country, IFC today announced anchor investments in two bonds issued by a securitization vehicle of Sonatel, a leading mobile network operator in West Africa.
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Member News
22 January 2024
British International Investment  invests in Ghana's eSAL expansion
Growth Investment Partners (GIP) Ghana, a platform created by British International Investment (BII), the UK’s development finance institution and impact investor, today announced its first investment in Ghanaian Business Process Outsourcing (BPO) company E-Services Africa Limited (eSAL). The investment will support eSAL’s growth and its global delivery of cost-effective and high-quality outsourcing solutions for businesses.
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Member News
12 January 2024
IFC invests US$30mn in AIIM Fund
To boost essential infrastructure development in countries across Africa, IFC today announced a $30 million equity investment in the Africa Infrastructure Investment Fund 4 Partnership (AIIF4).
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Member News
11 January 2024
British International Investment commits US$40mn to Apis Growth Markets Fund III
British International Investment, the UK’s development finance institution and impact investor, today underlined its support for fintech entrepreneurs with a $40 million commitment to a new Apis fund – the Apis Growth Markets Fund III (“Apis III”). Apis Partners LLP (“Apis”) is a UK-based private equity firm investing exclusively in high-growth, capital-light, tech-enabled financial services businesses globally.
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Member News
10 January 2024
EIB invests US$30mn in Seedstars Africa Ventures
Innovative businesses and start-ups across Africa will benefit from better access to risk capital thanks to a US$30 million equity investment by EIB Global in the Seedstars Africa Ventures I venture capital fund. Increased access to capital will allow companies to grow, creating skilled jobs and improving products and services for businesses and consumers. The fund will invest in companies developing and implementing digital technologies, in particular those addressing basic needs such as education, healthcare and utilities, or enhancing goods, services and efficiency.
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Member News
9 January 2024
Africa50 reaches first close with US$222.5mn
Africa50 Group, the pan-African infrastructure investment platform announced today the successful first close of the Africa50 Infrastructure Acceleration Fund (Africa50 – IAF) on December 29th, 2023 - securing $222.5 million in commitments.
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Member News
8 January 2024
Norfund partners to provide financing for power transmission and distribution
Affirma Capital (formerly Standard Chartered Private Equity (“SCPE”)) has led a US$145 million investment into CEC in an unprecedented single-asset continuation deal in Africa. The private equity firm originally invested in CEC in March 2014 via a structured equity investment backing the Company’s controlling shareholder. In March 2018, Affirma Capital converted its investment into a 34.64% shareholding in CEC.
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Member News
8 January 2024
IFC commits €300m loan for renewable energy expansion.
The International Finance Corporation (IFC) announced today a green and sustainability-linked loan (SLL) of €300 million (equivalent to $329 million) to Iberdrola. IFC's loan will finance renewable energy projects in emerging markets, including a number of countries that currently rely heavily on coal, such as Morocco, Poland, and Vietnam. IFC has already committed a first tranche of €170 million, which will finance onshore wind projects in Poland.
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Member News
2 January 2024
EIB commits €400mn in renewable energy transition
The European Investment Bank (EIB) has committed €400 million to support a significant new investment for MYTILINEOS Energy and Metals (MYTILINEOS), which will accelerate renewable energy production across Greece and other EU states.
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Member News
28 December 2023
Amethis acquires major stake in Capital Banking Solutions
Amethis takes a majority stake in Capital Banking Solutions, a European player in the banking software market, in order to accelerate its international development.
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Member News
22 December 2023
AXIAN Energy receives US$30mn commitment from EAIF
The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, has committed a US$ 30 million senior secured loan facility to AXIAN Energy, as part of the company’s expansion plan to deliver more than 460 Megawatt (MW) of utility-scale renewable energy generation capacity across Africa over the next decade.
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Member News
21 December 2023
IFC co-invests US$455mn to Expand Egypt’s Damietta Port
IFC today announced an investment in a second container terminal at Egypt's Damietta Port that is expected to triple the port's capacity when complete in 2025, supporting trade and economic activity in the region and creating thousands of direct and indirect jobs during the construction and operational stages.
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Member News
18 December 2023
British International Investment commits US$15mn to NMB Bank’s sustainability bond
British International Investment (BII), the UK’s development finance institution and impact investor, announced its anchor commitment of $15 million equivalent in Tanzanian Shilling to NMB Bank’s (NMB) inaugural sustainability bond offering, known as the NMB Jamii Bond.
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Member News
15 December 2023
TLG Capital launches $5mn debt facility for Flow 48 
Global private investment firm, TLG Capital (TLG), today announced a debt facility of up to $5.0 million in Flow 48, anearly-stage FinTech company at the forefront of redefining Alternative Finance in Africa. Flow 48 introduces an automated and integrated platform providing clients access to financing based on their revenues. This investment underscores TLG's commitment to fostering innovation in lending to provide African SMEs access to capital. 
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Member News
12 December 2023
Proparco and DEG strengthen partnership with MCB
To support the scaling of climate finance in Mauritius, Proparco and DEG announced a new partnership with The Mauritius Commercial Bank Ltd (MCB) to support the bank in expanding its climate finance offering in Mauritius and Sub-Saharan Africa.
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Member News
11 December 2023
British International Investment invests in Nigeria cashew processing expansion
British International Investment announces new investment to expand cashew processing and warehousing facilities in Nigeria.
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Member News
5 December 2023
DEG invests USD50mn to Emerging Markets Infrastructure Fund II (EMIF II)
DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH is investing in the transition to a climate-friendly economy with a contribution of USD 50 million to the Emerging Markets Infrastructure Fund II (EMIF II) managed by A.P. Moller Capital. The fund will focus on investments in transport infrastructure and renewable energy in selected high growth markets in South and South East Asia and Africa that resolve local logistical bottlenecks and generate green electricity.
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Member News
5 December 2023
British International Investment announces climate finance investment at COP28
British International Investment, the UK’s development finance institution and impact investor, announced six new climate finance investments today.  The commitments, totalling $55 million, which were first announced by UK Prime Minister Rt Hon Rishi Sunak MP in his COP28 speech on Friday, underline the DFI’s accelerating commitment to providing climate finance to support those countries most vulnerable to the impacts of the climate emergency.  
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Member News
29 November 2023
Africinvest, Amethis, Proparco and IFC acquire a majority stake in Netis
A consortium of investors including Africinvest, Amethis, Proparco and the International Finance Corporation (IFC) has acquired a majority stake in Netis, a leading pan-African telecommunication infrastructure service provider.
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Member News
29 November 2023
British International Investment invest ZAR125 million (US$6.7mn ) in 140MW wind farms
British International Investment today announced a ZAR125 million ($6.7 million ) investment in two 140MW wind farms in the Northern and Eastern Cape of South Africa. The new funding was trailed at a business reception in Cape Town hosted by BII and the UK’s development finance institution (DFI) and impact investor, while they celebrated 75 years of investing for impact in Africa.
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Member News
27 November 2023
DPI and Verod Capital partner to back Pan African Towers
Pan African Towers (PAT), a leading digital infrastructure company based in Nigeria, has announced a strategic investment from Development Partners International (DPI), a premier investment firm focused on Africa, and Verod Capital (Verod), one of the continent’s leading investment management firms. DPI and Verod are investing in PAT to fuel its continued growth and will work with management to build on the company’s recent achievements and reaffirm its position as Nigeria’s largest homegrown digital infrastructure provider.
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Member News
22 November 2023
Africa50 and AfricInvest co-lead investment in Africa Healthcare Network
Africa Healthcare Network (AHN), a leading provider of dialysis services in Africa, has secured $20 million in equity and debt funding, from Africa50 and AfricInvest, two leading African institutions, and Tokyo-based Ohara Pharmaceutical Co., Ltd.
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Member News
22 November 2023
IFU invests €21mn to expand healthcare in Morocco
To increase access to affordable healthcare in Morocco, IFU has invested EUR 21 million in ODM, a leading healthcare provider in the country. The investment will serve a dual purpose, enabling ODM to expand its existing network and diversify its service offerings, thus contributing to the realization of Morocco's broader national healthcare strategy. IFU’s investment is made on behalf of the Danish SDG Investment Fund, which is backed by IFU, large Danish pension funds and private investors.
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Member News
14 November 2023
Ventures Platform co-leads investment in Shekel Mobility
Operating within this strategic domain is YC-backed Shekel Mobility. The B2B auto dealers marketplace has secured over $7 million in funding, comprising $3.2 million in equity and over $4 million in debt.
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Member News
13 November 2023
Convergence Partners co-leads US$25mn investment in CSquared with IFC
Successful equity raise from new and existing shareholders enhances CSquared’s ambition to create a Digitally Connected Africa via significant infrastructure rollout. The new investment in CSquared by Convergence Partners Digital Infrastructure Fund (“CPDIF”) and IFC also results in streamlining of CSquared ownership structure.
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Member News
5 November 2023
Flat6lab raised funding up to SAR2.4mn
Riyadh Valley Company, the investment arm of King Saud University and a prominent player in the investment landscape of Saudi Arabia, is delighted to announce its strategic investment in Flat6Labs’ Startup Seed Fund, a move that solidifies its commitment to supporting the growth and development of the region’s vibrant startup ecosystem.
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Member News
1 November 2023
British International Investment commits US$26.5mn to address food security
 British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, today announced a US$26.5 million commitment to AFEX, Africa’s leading commodities platform, which currently operates over 200 warehouses in Nigeria, Kenya, and Uganda and serves over 450,000 farmers. The investment will support structural improvements in Africa’s agricultural industry, which will significantly benefit smallholder farmers and lead to improvements in food security.
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Member News
31 October 2023
Savant Venture Fund co-investment in BurnStar Technologies
Sibanye-Stillwater, a multinational mining and metals group with a diverse portfolio of projects and investments across five continents, and Savant Venture Fund, a leading sustainable technology and engineering investment firm, are proud to announce their strategic investment in BurnStar, a pioneering South African clean hydrogen company. This collaboration marks a significant milestone in South Africa’s journey toward a sustainable energy future, centered around the production of Guilt–Free (Turquoise) Hydrogen™.
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Member News
30 October 2023
Exeo Capital’s Agri-Vie II Fund injects US$10mn into Ugandan diary production
The African continent is becoming a net exporter of food and now, propelled by the African Continental Free Trade Area (AfCFTA), the agricultural sector could provide the impetus needed to boost Africa’s domestic processing capacity and reap far-reaching economic rewards. These favourable prospects bode well for food processing businesses like Amos Dairies Limited – the most recent investment by EXEO Capital’s Agri-Vie Fund II.
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Member News
30 October 2023
Injaro Investments IGVCF makes US$2mn investment in Zeepay
Injaro Investment Advisors, a Ghanaian private capital fund manager, is delighted to announce a USD 2M equity investment in the Series A.5 round for Zeepay Ghana Limited (‘Zeepay’). In this inaugural investment of its Injaro Ghana Venture Capital Fund (“IGVCF” or the “Fund”), Injaro joins a consortium of international investors for the current fundraising round.
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Member News
23 October 2023
Proparco joins FMO in US$43mn investment in Husk
Husk Power Systems (Husk), the leading minigrid company serving rural communities in Sub-Saharan Africa and South Asia, has secured a new round of equity investment totalling $43 million. New investors include STOA, which led the round, the U.S. International Development Finance Corporation (DFC), and Proparco, with follow-on investments from existing shareholders including Swedfund and FMO. The funding will accelerate the rollout of minigrids in rural and peri-urban Nigeria and India, enabling increased access to clean, affordable, reliable, and modern energy.
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Member News
17 October 2023
African Development Bank backs Africa’s first Sustainable Panda Bond
Egypt has successfully issued a 3-year Sustainability Panda Bond worth  RMB 3.5 billion ($478.7 million). The North African nation is the first on the continent to do so, a move that underscores its commitment to access previously untapped sources of capital to drive economic growth.
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Member News
16 October 2023
AfricInvest and Verod Capital acquire stake in iSON Xperiences
16 October 2023: Verod Capital and AfricInvest have partnered to acquire a majority stake in iSON Xperiences, a leading ICT solutions provider. Established in 2010, iSON Xperiences specialises in delivering business process outsourcing (BPO), business process management, and digital customer experience solutions across Africa, the United Arab Emirates, and India. The company serves more than 500 million end-users spanning diverse sectors such as Telecom, Financial Services, Energy & Utilities, Media & Entertainment, Aviation, Retail and E-commerce. iSON Xperiences employs over 18,000 individuals across 19 countries, including 16 in Africa.
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Member News
13 October 2023
Acasia Ventures leads pre-Seed round in Lengo AI
Acasia Ventures, a prominent early-stage venture capital firm, has taken the lead in a pre-seed investment round for Lengo AI, an AI-powered Fast-Moving Consumer Goods (FMCG) intelligence platform based in Dakar, Senegal. This significant investment round also saw participation from notable players in the venture capital space, including Ventures Platform, P1 Ventures, Launch Africa, Voltron Capital, and several angel investors. Launched in 2022, Lengo AI has quickly made waves in the African retail landscape with its groundbreaking approach to gathering and leveraging data from informal retailers.
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Member News
13 October 2023
IFC invests US$50mn in new LeapFrog fund
Nairobi, Kenya, October 6, 2022 —IFC today announced an investment in a new fund by LeapFrog Investments, one of the largest private equity groups dedicated to impact investing in emerging markets, to improve fast-growing health and financial services firms' access to growth capital and support job creation in Africa, South Asia, and Southeast Asia
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Member News
11 October 2023
Alitheia IDF invests US$5mn to revolutionise South Africa's textile industry.
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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Member News
10 October 2023
Adenia has acquired a majority stake in Enfin
Adenia Partners (“Adenia”), a private markets investment firm committed to responsible investing and a sustainable Africa, has completed a majority investment in Enfin, a solar financing solutions provider serving commercial and industrial clients across South Africa, as the first investment from its fifth flagship fund (“Adenia V” or “the Fund”).
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Member News
8 October 2023
Renew Capital invest in micro insurance platform, Jamii.one 
Ethiopia, September 28, 2023 — Driving towards financial inclusion for communities across Ethiopia, Renew Capital Angels has partnered with Jamii.one, a trailblazer micro-insurance platform for the African landscape.
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Member News
4 October 2023
CrossBoundary partners to scale scale battery swapping services across Nigeria 
CrossBoundary Access and Mobile Power are announcing a $10 million partnership to deploy MOPO Hubs in Nigeria, providing energy access to 300,000 people using an innovative battery service. CrossBoundary Access has committed an initial $2.25 million for the transaction, with the option to extend up to $10 million.
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Member News
27 September 2023
Amethis invests in Energy Transfo
Amethis is pleased to announce that it has acquired a minority stake in Energy Transfo, a major player in the design and manufacture of solutions for the electricity and renewable energy sectors in Morocco.
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Member News
26 September 2023
IFC invests in E-Commerce Platform ANKA to support Africa’s creative artisans
An IFC investment into leading African e-commerce platform ANKA will support the growth of thousands of small and women-led artisanal businesses, strengthening Africa's creative industries and its growing online retail sector.
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Member News
26 September 2023
AIIM expands temperature-controlled logistics platform with acquisition of Sequence Logistics
Commercial Cold Holdings (CCH), a leading cold chain logistics platform controlled by funds managed by African Infrastructure Investment Managers (AIIM) a subsidiary of Old Mutual Alternative Investments, is achieving significant milestones in its expansion within the temperature-controlled logistics industry.
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Member News
26 September 2023
Alitheia IDF leads investment in Lupiya
Zambian fintech Lupiya has raised $8.25 million in a Series A funding round led by Alitheia IDF Fund, with participation from INOKS Capital SA and the German Investment Bank KfW DEG.
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Member News
25 September 2023
Amethis invests in HB Aesthetics to accelerate MEA expansion  
Amethis Europe Expansion invests in HB Aesthetics, a European player in the cosmetics market, in the context of a primary LBO alongside its chairman and founder Raphaël Chauchard-Rios
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Member News
20 September 2023
ARAF and Alitheia Capital co-leads US$10.4mn investment in Complete Farmer
Complete Farmer, an end-to-end digital, agricultural marketplace that connects African farmers and global industries to competitive markets, resources, data, and each other on a single platform, raises $10.4 million in a Pre-Series A funding round of equity and debt. The equity portion of the round was co-led by the Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital via its uMunthu II Fund in partnership with Goodwell Investments, who were joined by Proparco, Newton Partners and VestedWorld Rising Star Fund. Debt financing was provided by Sahel Capital’s SEFAA (Social Enterprise Fund for Agriculture in Africa) Fund, Alpha Mundi Group through its Alpha Jiri Investment Fund and Global Social Impact Investments, to fund both CAPEX and working capital investments in support of short and long-term growth.
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Member News
13 September 2023
Alitheia IDF backs Rentoza
Rentoza, a South African-based online subscription platform, recently secured a significant boost in funding with investments totalling $6 million from two prominent funders. The funding round was led by Alitheia IDF and included the Vumela Enterprise Development Fund. 
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Member News
13 September 2023
TPG to invested US$336MN in Denodo
Denodo (the “Company”), a leader in data management, and TPG (NASDAQ: TPG), a global alternative asset management firm, today announced that they have signed a definitive agreement for TPG Growth, the firm’s middle market and growth equity platform, to invest $336 million in Denodo’s Series B preferred equity. The transaction, which includes both primary capital and a secondary sale of shares by HGGC, is expected to close in early October following customary regulatory approvals. HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor.
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Member News
12 September 2023
Adiwale Fund I acquires a minority stake in Global Action
Adiwale Fund I announces a minority equity investment in Global Action, a growing consumer goods distribution company in Senegal. Global Action was founded in 2014 by Moussa Mboup, a Senegalese businessman with over 35 years' experience in wholesale and retail distribution. The company is a significant player in wholesale distribution in Senegal with customers in several regions of the country.
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Member News
5 September 2023
Renew Capital invests in FlexPay
FlexPay’s "save now, buy later" platform allows customers to purchase products over time, interest-free, by setting personal savings goals. They provide customers with greater financial flexibility and purchasing power by collaborating with merchants to facilitate flexible payment options for high-value goods and services. 
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Member News
4 September 2023
FMO jointly invests US$12mn in Okra Solar
Okra Solar, known for pioneering mesh-grid technology, has just closed their Series-A round of financing to scale mesh-grid technology - with more than $12M of fresh financing including debt and equity with $7.85M raised on equity led by At One Ventures, along with FMO, Susquehanna Private Equity Investments LLLP, Autodesk Foundation and King Philanthropies. The debt financing was provided by EDFi.
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Member News
4 September 2023
Kasada aquires Cape Town Hotel
Port Louis, Mauritius, 4 September 2023 – Kasada, the leading independent real estate private equity platform dedicated to the hospitality industry in Africa, is pleased to have acquired the former Radisson Blu Hotel & Residence, the 214-room hotel in the center of Cape Town from a local real estate investment company.
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Member News
4 September 2023
Kasada acquires former Radisson Blu Hotel & Residence in Cape Town
Kasada, the leading independent real estate private equity platform dedicated to the hospitality industry in Africa, is pleased to have acquired the former Radisson Blu Hotel & Residence, the 214-room hotel in the center of Cape Town from a local real estate investment company.
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Member News
30 August 2023
AfDB backs Triple Jump For Energy Entrepreneurs Growth Fund
In July 2023, the Energy Entrepreneurs Growth Fund (EEGF) signed a US$ 6.5mn concessional loan agreement with the African Development Bank (AfDB) to replenish its facility with EEGF as part of the COVID-19 Off-Grid Recovery Platform (CRP). This patient and risk-tolerant capital funded by the Global Environment Facility (GEF), will be blended with EEGF capital to provide loans on more affordable terms to support a strong recovery and further growth of this emerging industry.
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29 August 2023
Sahel Capital enables hibiscus export from Nigeria with a Trade Finance Loan to Sourcing and Produce Limited.  
Sahel Capital, a prominent investor in the food and agriculture sector in sub-Sahara Africa, is thrilled to announce a US$1 million trade finance facility extended to Sourcing and Produce from its Social Enterprise Fund for Agriculture in Africa (“SEFAA”) fund. Launched in 2021 with KfW as the anchor investor, SEFAA aims to stimulate economic activities among smallholder farmers by empowering the social enterprises that engage with them.
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21 August 2023
AIIM invests US$90mn to develop a new Pan-African data center
African Infrastructure Investment Managers (AIIM), a leading African infrastructure private equity manager, and N+ONE DATACENTERS (N+ONE), a leading African data center owner and operator, are joining forces to  develop a new Pan-African data center and cloud services platform with a short-term target capacity of 40 MW. N+ONE will contribute its existing market leading portfolio of digital infrastructure assets and extensive products in Morocco and AIIM will be contributing an initial USD 90 million of growth equity through its latest pan-African infrastructure fund, African Infrastructure Investment Fund 4 (“AIIF4”).
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15 August 2023
LoftyInc invests in Emtech
Emtech, an African provider of central banking infrastructure, introduced its Central Bank Digital Currency (CBDC) Innovation kit last month. The kit caters to fintechs and financial service providers interested in experimenting with solutions and business models based on digital currencies pioneered by central banks.
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1 August 2023
AFC invests to transform petroleum transportation in Uganda
Africa Finance Corporation (AFC), the leading infrastructure solutions provider on the continent, today announced its investment in Mahathi Infra Uganda Limited, one of East Africa’s largest oil and gas downstream players.
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1 August 2023
FMO invests US$20mn in Starsight Premier Energy
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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1 August 2023
Ventures Platform leads Traction App funding round
Micro, small, and medium-sized firms (MSMEs) constitute the backbone of the Nigerian economy, accounting for more than 60% of GDP growth and playing a crucial role in job creation. According to the National Bureau of Statistics, there are over 39 million such firms, and 87% operate informally, meaning they primarily receive cash and perform activities on paper.
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19 July 2023
Ventures Platform leads $1.25M pre-seed investment in MyCover.ai
Mycover.ai the insurtech startup building Africa’s digital insurance infrastructure, has announced the close of a $1.25 million pre-seed funding round, today, led by Ventures Platform.
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15 July 2023
Norfund invests in manufacturing and recycling business in Ghana
The Norwegian Investment Fund for Developing Countries (Norfund) is investing USD 10.5 million in Miniplast Ghana Ltd (“Miniplast”) to support its expansion plans across its manufacturing and recycling segments.
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13 July 2023
British International Investment (BII) back 14Trees to accelerate the provision of innovative green building solutions across Africa
Joint venture between Holcim and British International Investment (BII) looks to accelerate access to 3D construction printing from Africa to the world
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7 July 2023
Flat6Labs and Seedstars International Ventures back Egypt’s Agel in pre-seed funding round
Agel, Egypt’s first and only Islamic FinTech, has announced today that the company has successfully closed the pre-seed round for undisclosed seven-digit figures. The investment round was led by leading MENA-focused venture capital firms, Plus Venture Capital (+VC), Seedstars International Ventures, Flat6labs, with participation from SEEDRA Ventures, Banque Misr Acceleration Program, and prominent angel investors. 
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30 June 2023
Verod-Kepple Africa Ventures (VKAV) Invests $1.5M in Chari
Lagos, Nigeria - 29 June 2023: Verod-Kepple Africa Ventures ("VKAV") is pleased to announce its investment of US$1.5 million in Chari, a Morocco-based B2B e-commerce company, to support its growth plan. Simultaneously, Ryosuke (Rio) Yamawaki, Partner at VKAV, has been appointed as a Strategic Advisor to the company, reinforcing their commitment to transforming the informal retail sector and driving economic growth in the region.
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30 June 2023
Verdant Capital funds Patasente Uganda
Verdant Capital is pleased to announce a revolving credit facility for Patasente Uganda (“Patasente”), a digital trade services platform for farmers, warehouses, and factories. The facility will be used to support Patasente’s invoice discounting and supplier financing activities. “Patasente” is a local Swahili and Luganda word that means “Get Money”.
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29 June 2023
Aruwa Capital Management invests US$2mn in Fastizers: an indigenous snack food and confectionery manufacturing company
Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana is pleased to announce a $2 million investment into Fastizers (the “Company”), a local manufacturer of snack foods and confectioneries in Nigeria.
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26 June 2023
Norfund invests in OH Ecosystems to create jobs in cocoa processing in Nigeria
Norwegian Investment Fund (Norfund) has invested $12 million in the Local Nigerian Cocoa Processing Business with the aim to create jobs in Nigeria, while addressing some of the challenges in the cocoa value chain.
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16 June 2023
Proparco supports innovation for traditional retailers in Senegal
On the occasion of the Viva Technology trade show, Proparco and Digital Africa are reaffirming their support for "Made in Africa" companies, by granting financing, through the Bridge Fund by Digital Africa, to the Senegalese start-up Maad.
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15 June 2023
Aruwa Capital Management invests in OmniRetail
Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana is pleased to announce an investment into OmniRetail, popularly known as OmniBiz (the “Company”), a tech-first B2B e-commerce company that aggregates end-to-end retail operations to help manufacturers, distributors, logistic partners, and retailers achieve their business goals through a seamless supply chain framework and embedded finance.
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8 June 2023
IFC announces investment in Safaricom Ethiopia
LONDON, United Kingdom, June 8, 2023 – IFC and MIGA — members of the World Bank Group — today announced an equity investment, a loan and guarantees to support the ongoing construction and operation of Safaricom Ethiopia's greenfield telecommunications network across Ethiopia, leading to more affordable internet, reliable mobile connectivity and technology access for people and businesses in the country.
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5 June 2023
IFC backs BUA to boost industrialisation in Northern Nigeria
Abidjan, Côte d'Ivoire, June 5, 2023 —IFC today made its largest-ever investment in northern Nigeria, providing a financing package alongside African and European partners to BUA Cement Plc to help the company part-finance and develop two new, energy-efficient cement production lines that will create up to 12,000 direct and indirect jobs.
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5 June 2023
IFC supports largest pharmaceuticals factory in Côte d’Ivoire
Abidjan, Côte d'Ivoire, June 5, 2023—To support stronger healthcare outcomes in West Africa, IFC today announced a partnership with the Shanghai Fosun Pharmaceutical (Group) Co., Ltd. to help the company build a pharmaceuticals production facility and distribution hub in Côte d'Ivoire.
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5 June 2023
IFC invests in South Sudan hotel
Abidjan, Côte d'Ivoire, June 5, 2023 – To support the development of South Sudan's tourism infrastructure, IFC today announced an investment in Dembesh Hotel in Juba that will help finance the hotel's renovation and expansion, creating jobs during and after the construction phase.
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2 June 2023
BII, FMO, Norfund et al. jointly invest in Sun King
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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29 May 2023
IFC invests in the Africa Conservation and Communities Tourism Fund to Support Ecotourism, Conservation in Sub-Saharan Africa
Johannesburg, South Africa, May 29, 2023— To support the post-pandemic recovery and sustainable growth of sub-Saharan Africa's ecotourism sector, IFC today announced an investment in the Africa Conservation and Communities Tourism Fund (ACCT Fund).
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29 May 2023
Proparco jointly provides €34 million to back development of new recycling facilities in Ghana and Senegal  
Proparco and OeEB, the Austrian DFI, join forces to provide a €34 million senior debt funding to Gravita Netherlands B.V. (GNBV), the overseas division head of Gravita India Limited (GIL). The group is a key player in the industrial recycling industry, especially in lead recycling, in India and overseas. Proparco and OeEB will support the international branch of GIL by increasing the recycling capacity and funding its daily needs.
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15 May 2023
IFC et al. invest in M-KOPA
IFC and fintech platform M-KOPA Holdings Ltd. today announced a partnership to expand its financial services to underbanked consumers in Eastern Africa, which will enable hundreds of thousands of women, lower-income customers, those in rural communities, and others in Kenya and Uganda, to purchase productive assets such as smartphones and home solar systems.
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4 May 2023
Proparco committed $5 million in DisrupTech
Proparco committed $5 million in DisrupTech, which aims to provide seed capital to up to 28 start-ups with prime focus on financial technology services. The fund raised $36 million from several investors, including Development Finance Institutions, Funds-of-funds and Family offices. It will be an important financing source for Egyptian tech companies, which often struggle to raise capital to bring their innovations to market.
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2 May 2023
Acasia Ventures leads Balad’s seven-figure pre-Seed round
Egyptian venture capital firm Acasia Ventures led the USD seven-figure pre-seed investment round in Cairo-based, remittance-focused fintech startup Balad. The round was joined by Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, and several family offices.
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25 April 2023
IFC invests in Avenue Group Limited to expand healthcare services in Kenya
Nairobi, Kenya, April 25, 2023—IFC today announced an investment in Kenyan healthcare provider Avenue Group Limited that will support the company's strategy to grow its healthcare offering and boost its patient reach by 20 percent across the country over the next five years.
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25 April 2023
IFC invests in Avenue Group Ltd to expand healthcare services in Kenya
IFC today announced an investment in Kenyan healthcare provider Avenue Group Limited that will support the company's strategy to grow its healthcare offering and boost its patient reach by 20 percent across the country over the next five years.
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14 April 2023
Swedfund invests in solar energy
Swedfund invested USD 30 million on the 1stof March in the Mirova Gigaton Fund[1]. The main purpose of investing in the fund is to reach out to projects in developing countries, with debt financing through a wide range of important, complementary solar energy solutions outside the regular grid, so-called off-grid solutions.
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14 April 2023
Helios exits Solevo
Helios Investment Partners is pleased to announce the completion of the sale of Solevo to a group of investors. The execution of Helios’ value creation strategy over the investment period significantly transformed the company into a leading distributor of specialty chemicals across the most important life sciences and industrial segments, driving the institutionalisation of the business and positioning it for continued growth.
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11 April 2023
EIB Global increases support for Moroccan companies under Tajawouz initiative
The European Investment Bank (EIB), through EIB Global, its new arm for development finance and international partnerships, has signed a finance contract with CaixaBank worth around MAD 330 million (€30 million) to increase support for Moroccan micro, small and medium-sized enterprises (MSMEs).
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6 April 2023
Standard Bank & IFC back Westfalia Fruit
To support the growth of the avocado industry in Africa, Asia, South America, and Europe, IFC, HSBC Bank, and Standard Bank today announced an investment in Westfalia Fruit International Limited to help the company expand sustainable avocado production at its existing facilities and explore opportunities in new markets.
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5 April 2023
AfDB approves US$49.92mn to Build a 30 MW Solar Photovoltaic Power Plant in Dekemhare
Dekemhare 30-megawatt photovoltaic solar power plant project in Eritrea. Amount: US$ 49.92 million grant comprising US$ 19.5 million from the African Development Fund (ADF-15) and US$ 30.42 million from the Transition Support Facility (TSF).
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3 April 2023
Old Mutual Alternative Investments Hybrid Equity announces investment in Enable Capital
Enable specialises in providing short-term funding solutions to subcontractors involved in the physical construction and deployment of local, regional and national fibre network infrastructure in SA.
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31 March 2023
Acasia Ventures invests in Fez’s US$1mn Seed round
Egypt-based VC firm Acasia Ventures has participated in the $1 million Seed round raised by the Lagos-based last-mile delivery platform Fez Delivery, led by Nigeria’s discovery fund Ventures Platform.
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22 March 2023
IFC to Invest in Mediterrania Capital Partners’ Fund to Support African Mid-Cap Businesses
To support the development of medium-sized companies in Africa, with a special focus on firms run or led by women, IFC today announced that it will invest in the first close of Mediterrania Capital Partners' Mediterrania MC IV fund.
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21 March 2023
British International Investment commits EUR 20 million to The Urban Resilience Fund
British International Investment (BII), the UK's development finance institution (DFI) and impact investor, today announced a EUR 20 million commitment to The Urban Resilience Fund (TURF), launched by Meridiam. The investment is the DFI’s first investment in an urban infrastructure fund and supports the design and scale of climate-focussed infrastructure projects across sub-Saharan Africa - increasing the affordability, safety, reliability, and climate-resilience of public infrastructure in African cities.
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17 March 2023
Swedfund invests USD 5 million in Somali fund
Swedfund has decided to invest USD 5 million in NHAO (Nordic Horn of Africa Opportunities Fund). The amount is split into 2 tranches where the second tranche requires certain conditions to be met.
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16 March 2023
Renew Capital Angels Invest in Ugandan Eyewear Company, Wazi
The Renew Capital Angels have invested in Wazi Vision, a women-founded Ugandan company with a vision to change the eyewear industry in Africa. Founders Brenda Katwesigye Baganzi and Geogette Ochieng Ndabukiye launched Wazi in response to a gap in Uganda’s eyewear market.
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8 March 2023
LeapFrog companies reach 200m women, as firm commits to IFC gender equality program
LeapFrog Investments, the profit with purpose investment firm, today announced that its financial services and healthcare businesses have now crossed the threshold of reaching over 200 million women and girls, providing essential springboards and safety nets to help them rise into a better standard of living.
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2 March 2023
IFC provides US$50mn to M-KOPA
Nairobi, Kenya, May 15, 2023—IFC and fintech platform M-KOPA Holdings Ltd. today announced a partnership to expand its financial services to underbanked consumers in Eastern Africa, which will enable hundreds of thousands of women, lower-income customers, those in rural communities, and others in Kenya and Uganda, to purchase productive assets such as smartphones and home solar systems.
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2 March 2023
Helios Digital Ventures backs payment service provide Nomba
Nomba, a leading payment service provider for African businesses, has raised a $30 million Pre-Series B funding round to support the delivery of bespoke payment solutions for African businesses. The oversubscribed equity funding round was led by San Francisco-based Base10 Partners (investors in Nubank, Plaid and Brex), with participation from Helios Digital Ventures, Shopify, Partech and Khosla Ventures.
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2 March 2023
Mediterrania Capital Partners, DEG, Proparco and FMO invest €75mn in Laprophan
Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce its acquisition of a stake in Laprophan – one of the leading pharmaceutical companies in Morocco –through its fund MC IV, alongside Germany’s development finance institution DEG, Proparco and FMO.
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2 March 2023
Kasada acquires Nairobi's former Crowne Plaza, with backing from IFC and Proparco
Kasada will use the financing package to refurbish, modernize, and expand the former Crowne Plaza in Nairobi's Upper Hill
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2 March 2023
IFC invests in 4DX Ventures Fund
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
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28 February 2023
BII invests in food business
British International Investment (BII), the UK's development finance institution (DFI) and impact investor, has announced a $50 million investment to Invictus Trading, a subsidiary of Invictus Investment and key partner handling the import activity for the DAL Group.
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14 February 2023
IFC leads US$17mn investment in South African insurtech Naked
Naked Insurance, a South African insurtech company that helps consumers to insure their cars, homes and valuables, has raised $17 million in Series B funding led by the International Finance Corporation (IFC).
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13 February 2023
Zephyr Acorn backs Power Financial Wellness
After working in Africa’s microfinance space for seven years, including at Botswana’s Letshego, Brian Dempsey took a break in 2020 to build Power Financial Wellness, operating out of Kenya.
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9 February 2023
€242m financing package for Senegalese cement maker
To support the decarbonisation of Senegal’s industrial sector, the IFC announced a partnership with Sococim Industries, Senegal’s largest integrated cement manufacturer, which will boost low-carbon cement production, create jobs and help bridge the country’s housing gap.
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3 February 2023
Swedfund invests US$26mn in the African infrastructure fund AIIF4
On December 16, Swedfund invested USD 26 million in African Infrastructure Investment Fund 4 (AIIF4). It is an African infrastructure fund, managed by Africa Infrastructure Investment Managers (AIIM).
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2 February 2023
Norfund invests in South African food ingredient producer
Norfund, the Norwegian development finance institution, is investing R80 million (about US$4.mn) in convertible debt in Synercore Holdings, a South African food ingredient manufacturer, formulator and distributor to fast-moving consumer goods companies in Africa.
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2 February 2023
Convergence closes CPDIF at $296m
Convergence Partners has announced the successful closing of its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296m, surpassing its initial target by over 18%.
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31 January 2023
Adenia Partners announces US$300mn first close for its fifth fund
Adenia Partners has announced the first close of its fifth flagship fund, Adenia V, with $300 million in commitments from investors.
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25 January 2023
AfricInvest Fund IV invests in Justrite
AfricInvest is pleased to announce it has taken a minority stake in Justrite, a leading Nigerian family owned retail department store.
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9 January 2023
Aruwa Capital makes follow on investment in Agroeknor
Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana is pleased to announce a follow-on investment into AgroEknor International (“AgroEknor” or the “Company”), a fast-growing hibiscus flower exporter and wellness brand.
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16 December 2022
LeapFrog Investments invests US$70mn in Sun King
Debevoise & Plimpton LLP has advised LeapFrog Investments (“LeapFrog”) as lead investor in Sun King’s $70 million equity investment round, part of an extension of its initial $260 million Series D round.
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15 December 2022
British International Investment backs Zambian climate entrepreneurs
$50 million credit line provided to Zambia National Commercial Bank in a boost for small businesses and climate-related projects in Zambia 
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