Posted on

Moroccan Eyewear Startup LNKO Secures Investment from Beltone Venture Capital for African Expansion

New Investments

Moroccan Eyewear Startup LNKO Secures Investment from Beltone Venture Capital for African Expansion

LNKO, a rapidly growing direct-to-consumer (D2C) eyewear brand, has secured a strategic equity investment from Beltone Venture Capital to drive its expansion across Africa.

The investment marks a significant milestone for the Moroccan-based company, which has gained a strong foothold in the eyewear market within just four years.

The startup, known for its stylish and affordable eyewear, leverages a fully digitized supply chain to serve a broad customer base.

Since raising $335,000 in 2021, LNKO has grown to serve over 100,000 customers, established 10 retail locations across Morocco, and built a robust online presence spanning 24 countries.

Beltone Venture Capital views this investment as a strategic move in its broader efforts to support high-potential businesses across Africa.

Ali Mokhtar, CEO of Beltone Venture Capital, underscored LNKO’s impressive growth and innovative business model, stating that the company aligns with Beltone’s commitment to backing transformative ventures in the region.

LNKO’s CEO and Founder, Maha Bennani, expressed enthusiasm about the partnership, emphasizing Beltone’s expertise in scaling D2C businesses.

With this investment, LNKO aims to accelerate its expansion and make high-quality, stylish eyewear accessible to more consumers across the continent.

Share :

“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

You may also like...

Posted on

Israeli Unicorn StarkWare Launches $4 Million Fund to Support Startups in Africa

New Investments

Israeli Unicorn StarkWare Launches $4 Million Fund to Support Startups in Africa

Israeli blockchain infrastructure company StarkWare, valued at $8 billion, has unveiled a $4 million fund to foster the growth of early-stage blockchain startups in Africa.

The initiative is designed to support the continent’s expanding adoption of blockchain technology by providing financial backing and mentorship to emerging enterprises.

The fund will offer grants of up to $150,000 to pre-seed and seed-stage startups, with the potential for larger investments for projects utilizing StarkNet, the company’s proprietary decentralized application platform built on Ethereum.

The initiative will focus on high-potential startups across West, South, and East Africa, emphasizing teams that demonstrate a blend of strong technical expertise and deep local market understanding.

Kheireddine Kamal, Head of Africa Ventures at StarkWare, highlighted the program’s objectives, stating:

“We are looking for projects in African countries where economic conditions such as high inflation, volatile exchange rates, or low financial inclusion make blockchain solutions particularly relevant.”

In addition to financial support, selected startups will receive mentorship and the possibility of securing further investments of up to $500,000 from StarkWare, with even larger amounts available for standout projects.

StarkNet aims to provide African businesses with an alternative to traditional financial systems, leveraging blockchain’s scalability and efficiency.

Africa’s rapidly growing young population and increasing adoption of digital assets position the continent as a key player in the global blockchain ecosystem.

With consumer and business spending in Africa projected to reach $6.7 trillion by 2030, the demand for blockchain-based solutions continues to rise.

Established in 2018, StarkWare specializes in zero-knowledge-proof systems to enhance blockchain scalability.

The company’s key products include StarkEx, a scaling engine launched in 2020 that optimizes transaction efficiency, and StarkNet, a decentralized Layer 2 network introduced in 2021 to enable low-cost, scalable dApps.

Share :

“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

You may also like...

Posted on

Francis Omorojie is Driving Africa’s Tech and Investment Ecosystem

Francis Omorojie is Driving Africa’s Tech and Investment Ecosystem

Francis Omorojie is a Nigerian entrepreneur, investor, and ecosystem builder committed to shaping Africa’s innovation and investment landscape.

With a keen focus on empowering technology-driven ventures, he has played a pivotal role in providing funding, mentorship, and strategic guidance to African entrepreneurs.
 
Born and raised in Nigeria, Francis developed an early interest in problem-solving and business development.

He pursued a bachelor’s degree in Petroleum Engineering at the University of Port Harcourt, graduating in 2013.

His technical background, combined with his passion for entrepreneurship, led him to transition from the energy sector to venture building, finance, and innovation.

Omorojie has built a career at the intersection of venture capital, innovation, and fintech, playing diverse roles that contribute to the growth of Africa’s startup ecosystem.

His journey has been defined by founding and leading multiple ventures, each designed to address key gaps in Africa’s economic and technological development.

Key Ventures and Leadership Roles

Founder & Venture Partner – Ennovate Ventures

In 2018, Francis founded Ennovate Ventures, a venture capital firm and innovation hub supporting underrepresented entrepreneurs in Africa’s tech ecosystem.

Through Ennovate, he has provided early-stage funding, mentorship, and capacity-building programs to founders looking to scale their businesses across the continent.

Key initiatives under Ennovate Ventures include:

  • TheNextFund – A venture capital fund investing in high-potential tech startups in East Africa, offering a hybrid of funding and technical assistance.
  • Startup Accelerator Programs – Providing tailored support, training, and market access to early-stage entrepreneurs.
  • Impact-Driven Investments – Supporting startups that focus on financial inclusion, sustainability, and scalable technology solutions.

Chief Visionary – Get Haba (Fintech)

As the Chief Visionary at Get Haba, Francis is leading a fintech revolution in Africa, focusing on financial inclusion, payments, and digital banking solutions.

Get Haba aims to bridge financial gaps by creating accessible and scalable financial services that cater to businesses and individuals who are traditionally underserved by mainstream financial institutions.

Co-Founder – Serengeti Angels

Francis is also the co-founder of Serengeti Angels, a Tanzanian angel investor network that provides early-stage capital to promising African startups. 

Recognizing the critical funding gap for early-stage businesses, he has worked to mobilize capital, de-risk investments, and facilitate investor-founder connections to drive innovation and economic transformation across Africa.

Venture Lead – Plumar

At Plumar, Francis serves as the Venture Lead, playing a key role in connecting African startups with global talent, resources, and capital.

The platform provides strategic guidance, market expansion opportunities, and operational support for businesses looking to scale beyond their local markets.

Omorojie’s work is deeply rooted in Africa’s long-term economic transformation.

His mission is to democratize access to funding for African startups, particularly those led by underrepresented entrepreneurs.

He also aims to create scalable, impact-driven solutions that foster economic growth and job creation. 

His philosophy is “empower, fund, and build,” a mantra that reflects his commitment to equipping African entrepreneurs with the tools they need to succeed in an increasingly digital world.

Over the years, Francis has secured strategic partnerships, facilitated millions of dollars in funding for startups, and played a key role in Africa’s venture capital space.

His work has earned him recognition as one of the leading voices in African innovation and investment.

Share :

You may also like...

Regina Honu

Regina is a Ghanaian social entrepreneur and software developer harnessing the power of technology to promote social change in West Africa.

Read More »
Posted on

Ivorian Fintech Startup Cauridor Raises $3.5 Million Seed Funding to Expand Payment Network

New Investments

Ivorian Fintech Startup Cauridor Raises $3.5 Million Seed Funding to Expand Payment Network

Ivorian fintech startup Cauridor has secured $3.5 million in seed funding to enhance its payment infrastructure, support expansion efforts, and strengthen its presence in new markets.

The funding round was led by Oui Capital, with participation from Rally Cap, BKR Capital, and several angel investors.

Cauridor operates a hybrid payment system that integrates digital solutions with cash-based networks, enabling seamless financial transactions across multiple West African countries.

The company facilitates payments through a network of over 25,000 agents spanning Guinea, Senegal, Ivory Coast, Sierra Leone, and Liberia.

Its technology supports various payment methods, including cash pickups, bank transfers, and mobile wallets.

According to co-founder Oumar Rafiou Barry, the lack of robust payment infrastructure in Francophone Africa prompted the company to build its payment rails to address fragmentation in the region’s financial ecosystem.

This strategy has significantly contributed to Cauridor’s revenue, with its payment rails division now accounting for more than 90% of its earnings.

In 2024, the company reported a total payment volume (TPV) of $500 million.

The newly secured funding will drive Cauridor’s expansion into additional markets, including Mali and Nigeria.

Additionally, the company is preparing for a Series A funding round and is exploring blockchain integration to optimize settlements and leverage the rising adoption of stablecoins in cross-border payments.

Barry emphasized that these developments will enhance operational efficiency and position Cauridor as a key player in Africa’s evolving fintech landscape.

Share :

“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

You may also like...

Posted on

Smart Africa Launches Africa AI Council to Drive AI Adoption and Innovation on the Continent

Key Developments

Smart Africa Launches Africa AI Council to Drive AI Adoption and Innovation on the Continent

Smart Africa, a leading pan-African initiative, has unveiled the Africa AI Council, a strategic body designed to accelerate artificial intelligence (AI) adoption and innovation across the continent.

This new initiative seeks to enhance collaboration among governments, industry leaders, and academic institutions to leverage AI for economic and social advancement.

The Africa AI Council consists of 15 members, including government representatives, private sector executives, AI specialists, civil society stakeholders, and academics.
 
Its core mandate is to formulate policies, stimulate innovation, and create an environment conducive to AI-driven growth.
 
By fostering cross-sector partnerships, the Council aims to position Africa as a competitive player in the global AI landscape.

Founded in 2013, Smart Africa is dedicated to accelerating socio-economic development through ICT and digital innovation.
 
With 39 member countries representing over a billion people, the alliance spearheads various initiatives, such as the Smart Africa Digital Academy and the One Africa Network, to promote connectivity and technological advancement across the region.

A key objective of the Africa AI Council is to harness AI’s transformative potential in critical sectors such as agriculture, healthcare, and finance.
 
The integration of AI in these industries is expected to enhance productivity, stimulate economic opportunities, and generate employment, reinforcing Africa’s role in the global digital economy.

Despite AI’s vast potential, Africa faces notable challenges, including insufficient digital infrastructure, a shortage of skilled professionals, and concerns regarding data privacy.
 
To address these barriers, the Africa AI Council will advocate for increased investment in AI infrastructure, promote AI-focused education programs, and develop policies that balance technological advancement with ethical considerations.

The Council will work in tandem with governments and educational institutions to introduce AI-focused curricula in universities and training programs. 
 
Additionally, it will formulate policy frameworks that ensure responsible AI usage, safeguarding inclusivity and ethical standards.

Share :

You may also like...

Posted on

Egyptian Fintech Startup Khazna Secures $16 Million Pre-Series B to Drive Growth

New Investments

Egyptian Fintech Startup Khazna Secures $16 Million Pre-Series B to Drive Growth

Egyptian fintech company Khazna has successfully raised $16 million in a pre-Series B funding round to strengthen its presence in Egypt and expand operations into Saudi Arabia.

Founded in 2020 by Omar Saleh, Ahmed Wagueeh, and Fatimah El Shenawy, Khazna initially launched as an earned wage access platform.

Over time, it has evolved into a multi-service fintech provider, catering to a significant portion of Egypt’s smartphone users who lack access to formal financial services.

The company currently offers general-purpose credit, buy now pay later (BNPL) options, and bill payment services.

This latest funding round follows Khazna’s $38 million Series A investment in 2022.

Investors in the pre-Series B round include a mix of new and existing backers such as SANAD Fund for MSME, anb Seed Fund, Aljazira Capital, Khwarizmi Ventures, Nclude, ICU Ventures, Quona Capital, Speedinvest, and Disruptech Ventures.

With fresh capital secured, Khazna aims to accelerate its growth by applying for a digital banking license in Egypt and establishing strategic partnerships to enter the Saudi market.

CEO Omar Saleh described the funding as a major milestone for the company, emphasizing its role in expanding financial inclusion across the MENA region.

“This achievement not only strengthens our core operations but also enables us to fast-track our mission of financial empowerment. Our entry into Saudi Arabia marks the start of an exciting new chapter, and we remain dedicated to delivering a seamless digital experience to users across the region,” he stated.

Share :

“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

You may also like...

Posted on

Wanjira Mathai is Championing Climate Action, Sustainability, and African Development

Wanjira Mathai is Championing Climate Action, Sustainability, and African Development

Wanjira Mathai is a distinguished Kenyan environmentalist, climate advocate, and development strategist dedicated to advancing sustainability, reforestation, and climate resilience in Africa.

As the Managing Director for Africa at the World Resources Institute (WRI), she leads transformative efforts aimed at restoring ecosystems, combating climate change, and ensuring that Africa’s development is both inclusive and sustainable.

She is the daughter of the late Nobel Peace Prize laureate Wangari Maathai, a pioneer in environmental activism who founded the Green Belt Movement—an organization that has planted millions of trees while advocating for women’s empowerment and good governance.

Wanjira continues her mother’s legacy by driving initiatives that place African communities at the heart of climate solutions while ensuring that environmental restoration translates into economic prosperity for the continent.

Shaping Africa’s Climate and Development Future

Wanjira’s mission is clear: to drive Africa’s sustainable growth through climate action, nature-based solutions, and the empowerment of local communities.

She believes Africa must not only combat climate change but also seize the opportunities presented by the global green economy to create jobs, restore degraded lands, and ensure food security.

Her work at WRI focuses on three critical areas: restoring Africa’s landscapes and natural ecosystems, accelerating climate action and renewable energy, and championing women and youth in climate leadership.

Through these efforts, she is shaping the continent’s response to environmental challenges while ensuring that sustainability drives economic and social progress.

Wanjira is a leading voice in the African Forest Landscape Restoration Initiative (AFR100), a groundbreaking program that aims to restore 100 million hectares of degraded land by 2030.

By advocating for large-scale land restoration, she seeks to reverse desertification, enhance biodiversity, and improve agricultural productivity across Africa.

She also champions the Great Green Wall initiative, an ambitious African-led movement designed to restore degraded land across the Sahel region, providing climate resilience and new economic opportunities for millions of people who depend on the land for their livelihoods.

As an advocate for climate adaptation and resilience, Wanjira ensures that African countries receive the financial and technological support necessary to transition towards low-carbon economies.

She is a strong proponent of renewable energy solutions, particularly those that empower women and marginalized communities.

Her work with the Partnership on Women’s Entrepreneurship in Renewables (wPOWER) has played a crucial role in advancing access to clean energy, reducing dependency on harmful fossil fuels, and promoting sustainable livelihoods through green entrepreneurship.

Wanjira Mathai is also a global advocate for gender equity in environmental leadership, ensuring that women and young people are actively included in climate decision-making.

She chairs the Wangari Maathai Foundation, a platform that nurtures youth leadership in environmental conservation and civic engagement.

Through this foundation, she empowers young Africans to take charge of their future, advocating for policies and practices that support both environmental sustainability and social justice.  

Beyond her work in Africa, Wanjira is a recognized thought leader on the global stage, influencing key environmental and economic policies. 

Her work has earned her numerous accolades, solidifying her position as a global leader in climate action and sustainability.
 
She has been recognized as one of the TIME 100 Climate Leaders, highlighting her influence in shaping global climate policies and initiatives.
 
In Kenya, she has been honored among the Most Influential Women in Business & Government for her leadership in environmental sustainability.
 
Her dedication to conservation and climate justice has also been acknowledged through the prestigious Earth Hall of Fame Kyoto Award.  

Share :

You may also like...

Andile Ngcaba

Andile Ngcaba is a South African businessman and technology entrepreneur known for his contributions to the telecommunications industry in Africa.

Read More »
Posted on

IFC Proposes $6 Million Investment in Flat6Labs’ New African Startup Fund

New Investments

IFC Proposes $6 Million Investment in Flat6Labs’ New African Startup Fund

Flat6Labs, a leading venture capital firm and startup accelerator in the MENA region, is set to receive a proposed equity investment of up to $6 million in its newly launched fund from the International Finance Corporation (IFC).

The new fund, which is targeting a total capital raise of $85 million with a hard cap of $100 million, aims to provide crucial early-stage investment to startups across North, West, and East Africa.

Flat6Labs has positioned itself as a key player in accelerating startup growth in these regions, offering funding, mentorship, and business development support to emerging companies.

A significant portion of the fund—49%—will be allocated to Egyptian startups, reinforcing Egypt’s role as a leading hub for innovation and entrepreneurship in Africa.

This strategic focus aligns with Flat6Labs’ ongoing efforts to stimulate local economies by empowering high-potential startups with the necessary resources to scale.

IFC’s Ongoing Partnership with Flat6Labs

The proposed investment marks IFC’s fourth financial commitment to Flat6Labs, following its participation in three previous funds managed by the firm.

This long-standing partnership highlights IFC’s confidence in Flat6Labs’ ability to identify and nurture promising startups that contribute to economic development and job creation.

As the private sector arm of the World Bank Group, IFC has been actively involved in supporting high-growth startups across emerging markets.

Its latest backing of Flat6Labs aligns with broader efforts to address the financing gap that many early-stage companies face in Africa, particularly those operating in technology-driven sectors with the potential for significant economic impact.

Strengthening Africa’s Startup Ecosystem

Flat6Labs’ latest fund comes at a time when African startups are increasingly attracting global attention, despite challenges such as limited access to capital and economic volatility.

The firm has a proven track record of successfully launching and managing startup accelerator programs, equipping founders with the skills, mentorship, and capital necessary to scale their ventures.

Flat6Labs aims to bridge the funding gap that often hinders early-stage startups from achieving sustainable growth.

The fund’s regional strategy, encompassing North, West, and East Africa, reflects the growing investor interest in African markets as hubs for technological innovation and entrepreneurship.

Share :

“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

You may also like...

Posted on

Jean-Claude Homawoo is Driving Africa’s Digital Logistics Revolution

Jean-Claude Homawoo is Driving Africa’s Digital Logistics Revolution

Jean-Claude Homawoo is a Togolese-American entrepreneur, technologist, and business leader dedicated to revolutionizing logistics and supply chain management in Africa.

As the Co-founder and CEO of Lori Systems, Homawoo is spearheading efforts to digitize the trucking industry, optimize freight management, and enhance trade efficiency across the continent.

Homawoo, who has a background in engineering, product strategy, and digital innovation, has brought a deep understanding of how technology can drive economic transformation in Africa.

Founded in 2017, Lori Systems emerged as a solution to Africa’s chronic supply chain inefficiencies.

The startup operates as a technology-driven logistics platform that connects cargo owners with transporters, streamlining freight movement across borders and reducing the high costs of logistics that hinder trade and business growth in Africa.

Under Homawoo’s leadership, Lori Systems has evolved into one of Africa’s leading e-logistics firms, managing a vast network of over 20,000 trucks across 12 African countries and facilitating the movement of goods worth more than $10 billion.

Lori Systems has been recognized globally, attracting investments from top-tier investors, including Google’s $50 million Africa Investment Fund.

Through Lori Systems, Homawoo is bridging the infrastructure gap that has long hindered trade efficiency in Africa, offering a digital-first approach to solving logistical bottlenecks.

Homawoo holds a Bachelor’s degree in Electrical and Computer Engineering from Drexel University and an MBA from Harvard Business School.

Share :

You may also like...

Farah Emara

Farah is an Egyptian entrepreneur passionate about solving the inefficiencies in the agricultural value chain.

Read More »

Samuel Eze

Samuel Eze is a Nigerian entrepreneur, software engineer, and innovator leveraging technology to solve real-world problems and improve the lives of Africans.

Read More »