
World Bank Commits $100 Million to Boost Zambia’s Digital Infrastructure
The World Bank has pledged a $100 million investment to accelerate Zambia’s digital transformation through the Digital Zambia Acceleration Project (DZAP).
Rwazi, an African-founded artificial intelligence startup focused on market intelligence, has closed a $12 million Series A funding round.
The company plans to use the new capital to scale its simulation engine and enhance its AI assistant, designed to help businesses monitor changes, make informed decisions, and anticipate results in real-time.
Headquartered in Africa but operating on a global scale, Rwazi enables multinational brands to access zero-party consumer data—direct insights from individuals about their purchases, including what they buy, at what price, from where, when, and why.
This information helps businesses boost sales and expand into new markets.
Founded in 2018, the company began in Mauritius and has since developed both mobile and web applications.
These platforms allow users across different regions to provide detailed feedback about the products they use, whether online or offline.
Over time, Rwazi has grown beyond Africa, now serving clients and collecting data across multiple continents.
Speaking about the funding, Joseph Rutakangwa, co-founder and CEO of Rwazi, said:
“For a long time, many business decisions have relied on intuition. But in today’s fast-paced world, that’s no longer enough. This funding helps us place a real-time AI co-pilot in the hands of teams, so they can work smarter and respond with clarity.”
The funding will support Rwazi in building out its AI copilot’s capabilities, improving how it interprets data and provides actionable recommendations.
It will also allow the company to expand its global data infrastructure and simulation functions.
Rutakangwa added,
“Relying solely on instinct worked in slower markets. But now, success depends on tools that provide early insights and drive rapid, accurate responses. That’s what we’re developing.”
The World Bank has pledged a $100 million investment to accelerate Zambia’s digital transformation through the Digital Zambia Acceleration Project (DZAP).
Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, has announced a €57 million investment in Moroccan financial services provider CASH PLUS.
Renew Capital has announced its investment in Sevi, a Kenyan fintech company regulated by the Central Bank of Kenya.
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