The Empower Africa Business Platform is Now Live !!!
Kenyan agritech Victory Farms has raised $35 million in Series B funding to finance its expansion plans.
Creadev led the Series B round, with participation from the Acumen Resilient Agriculture Fund (ARAF), DOB Equity, Endeavor Catalyst Fund, and Hesabu Capital. Founded in 2015, Victory Farms leverages innovative technologies to bring together the best aquaculture practices from around the globe to tackle the challenges of; rapidly declining wild fish catch in Lake Victoria, rising populations and undernourishment. The startup is on a mission to build a commercial tilapia farm to feed 2 billion Africans with affordable, accessible and healthy protein over the next two decades. Victory Farms intends to invest the funding to finance the expansion of its operations in Kenya and Rwanda and potential entry into Ethiopia, Uganda, and Tanzania.

Morocco’s OCP Group has joined forces with the International Finance Corporation (IFC) to launch a €100 million initiative aimed at combating water scarcity and improving food security in Africa.

The African Development Bank Group has announced a $75 million financing package to support Export Trading Group (ETG), a Mauritius-based conglomerate with extensive operations throughout Africa.

Balad, a rising star in the Egyptian fintech scene, has closed a seven-figure pre-seed funding round.