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PBR Life Sciences Secures $1M in Pre-Seed Funding to Expand Healthcare Analytics in Africa

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PBR Life Sciences Secures $1M in Pre-Seed Funding to Expand Healthcare Analytics in Africa

PBR Life Sciences, a healthcare data analytics company supported by Techstars, has successfully raised $1 million in pre-seed funding.

The funds will be used to bolster the company’s artificial intelligence (AI) infrastructure and support its expansion into Ghana and Kenya.

The funding round attracted diverse investors, including Launch Africa, Microtraction, Kaleo Ventures, Octerra Capital, Marula Square, XA Africa, ARM Labs, and Techstars.  

Founded in 2015 by Ayodeji Alaran, PBR initially operated in healthcare services but pivoted to big data and analytics in 2021.

The company provides pharmaceutical giants like Sanofi with critical market insights, enabling them to make data-driven decisions on product pricing, demand forecasting, and new product development tailored to African markets.

Pharmaceutical companies in Africa often face challenges related to overproduction, stemming from a limited understanding of market demand.

PBR addresses this issue by aggregating anonymized data—including drug quantities, prices, and purchase frequencies—from pharmacies.

This data helps companies align production volumes with actual market needs, reducing waste and improving efficiency.

The company’s AI-powered analytics dashboards deliver actionable insights, such as market share and consumption trends, across Nigeria and Ghana. 

Additionally, PBR offers a generative AI feature that allows users to generate custom analytics by asking specific questions. Its clientele includes pharmaceutical companies, consulting firms, NGOs, and multilateral organizations.

“Being backed by some of the most reputable venture capital investors and angels in Africa inspires us to do more and validates the need to close the gap in healthcare big data,” said Alaran. “This data will power AI and innovation while unlocking global life sciences growth driven by Africa.”

PBR Life Sciences was part of the second cohort of the ARM Labs Lagos Techstars Accelerator program.

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Sourcefin Secures $8.2 Million Investment to Empower South African SMMEs

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Sourcefin Secures $8.2 Million Investment to Empower South African SMMEs

South African fintech and alternative funding provider Sourcefin has secured $8.2 million from Futuregrowth Asset Management.

The investment, sourced through Futuregrowth’s High Growth Developmental Equity Fund (HGDEF), reinforces Sourcefin’s mission to address the financing needs of small and medium-sized enterprises (SMMEs) in the country.

Established in 2020, Sourcefin focuses on bridging the critical financing gap for SMMEs, enabling them to manage working capital constraints and complete public and private sector purchase orders.

The company’s approach integrates technology with procurement and project management expertise, making it a leader in supporting tender fulfilment.

The new funding will allow Sourcefin to scale its investment significantly into South Africa’s SMME sector.

Co-founder, Director, and CEO Joshua Kadish highlighted the importance of the sector for economic growth, stating:

“There is no doubt about the massive impact that well-supported SMMEs can have on our country. With the support from Futuregrowth, Sourcefin’s ability to scale investment into the SMME sector significantly increases, and it is our commitment that all R150 million will be deployed as a reinvestment into the backbone of our economy.”

Amrish Narrandes, Futuregrowth’s head of private equity and venture capital, emphasized the strategic value of the investment, saying:

“The SMME sector is vital for South Africa’s economic growth, yet traditional financing solutions often fail to meet their unique needs, particularly in government-issued orders. Sourcefin’s technology-first approach, coupled with their expertise, has created a truly transformative solution. Their proven ability to support tender fulfilment while maintaining strong financial performance made this a compelling investment opportunity.”

Futuregrowth’s HGDEF has a strong track record of supporting high-growth businesses, including hearX, Yoco, Pineapple, Retail Capital, Ozow, and Cash Connect.

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South Africa’s Tyme Group Raises $250 Million in Series D Funding to Become Africa’s Ninth Unicorn

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South Africa's Tyme Group Raises $250 Million in Series D Funding to Become Africa’s Ninth Unicorn

South Africa’s digital banking innovator, Tyme Group, has secured $250 million in a Series D funding round, propelling its valuation to $1.5 billion.

This milestone places Tyme as Africa’s ninth unicorn, following Nigeria’s Moniepoint, which crossed the billion-dollar mark just two months ago.

The company aims to go public by the end of 2028.

The funding round was spearheaded by Nu Holdings, the parent company of Nubank, Latin America’s leading fintech, which acquired a 10% stake for $150 million.

Additional participants included M&G Catalyst Fund and existing investors, signaling a resurgence in investor confidence in Africa after a recent funding slowdown.

As with other African unicorns, the round primarily attracted global investors, highlighting the continent’s ongoing challenges in securing local growth capital. 

Tyme’s ascent underscores the fintech sector’s dominance in Africa’s unicorn landscape, with seven out of the nine unicorns hailing from this sector.

Founded in 2019, Tyme Group operates a hybrid model that combines digital and physical banking services, offering checking and savings accounts, debit cards, and buy-now-pay-later options.

The company serves over 15 million customers and has disbursed more than $600 million in financing to small businesses in South Africa and the Philippines.

In August 2024, TymeBank, its South African subsidiary, announced plans to enter the Indonesian market by the end of the year.

This latest funding round brings Tyme’s total investment to approximately $600 million.

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Proparco Invests $5 Million in Equator Africa Fund to Boost Climate Tech Start-ups in Sub-Saharan Africa

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Nigeria's Juicyway Raises $3M Pre-Seed Funding to Revolutionize Cross-Border Payments

Proparco has announced a $5 million investment in the Equator Africa Fund through its FISEA+ facility to accelerate climate-focused innovation in sub-Saharan Africa.

The funding targets early-stage start-ups in energy, agriculture, and mobility, sectors critical to addressing the continent’s escalating climate challenges.

Equator Africa Fund specializes in supporting climate technology ventures that drive both environmental sustainability and economic growth.

With teams based in Nairobi and Lagos, the fund leverages local knowledge alongside global expertise to foster solutions that combat Africa’s vulnerability to climate change and its growing population pressures.

The urgency of the investment aligns with alarming climate projections that estimate 39 million Africans may face chronic hunger by 2050 due to climate-related impacts.

Equator’s focus on renewable energy solutions, sustainable agricultural practices, and innovations in electric mobility seeks to mitigate these effects while creating long-term economic stability.

Proparco’s investment is part of its 2023-2027 strategic pillars of advancing climate initiatives and expanding economic opportunities.

The initiative qualifies for 40% to 60% climate co-benefits, reinforcing its commitment to sustainable development.

Fabrice Perez, Head of Proparco’s Venture Capital Division, emphasized the significance of the collaboration, stating:

“Through this investment, we aim to support ventures addressing the urgent climate challenges in sub-Saharan Africa. Equator’s approach echoes our commitment to driving sustainable development and climate resilience in the region. We believe these ventures hold promise for a sustainable future, enhancing both Africa’s economic strength and environmental resilience.”

Equator’s Managing Partner, Nijhad Jamal, welcomed Proparco’s participation, highlighting the role of active funding and mentorship for emerging ventures:

“We are extremely proud to have Proparco participate in our fund and to join Equator’s mission to provide much-needed capital and active hands-on support to early-stage climate-tech ventures at a critical juncture in their start-up journey. Proparco is uniquely positioned to provide expertise, networks, and capital directly to our portfolio companies as they scale across the region.”

This investment will enable Equator to bridge the climate funding gap by empowering innovative start-ups with the resources to enhance Africa’s climate resilience.

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Incofin Investment Management Invests $1.55 Million in Truk Rwanda and Couvoir Amar to Boost Agribusiness and Nutrition

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Incofin Investment Management Invests $1.55 Million in Truk Rwanda and Couvoir Amar to Boost Agribusiness and Nutrition

Incofin Investment Management has announced two strategic investments totaling $1.55 million under its Nutritious Foods Financing Facility (N3F), aimed at enhancing food systems and improving access to nutritious food.

The first investment targets Truk Rwanda, a logistics company specializing in cold chain storage and transportation of fresh fruits and vegetables.

N3F’s funding will facilitate the acquisition of refrigerated trucks and the establishment of hybrid cold rooms.

This development will enable farmers to extend the shelf life of their produce, reduce food waste, and maximize their earnings.

In addition, Truk Rwanda plays a vital role in connecting farmers in central Rwanda with vendors while offering informal training on post-harvest handling to help preserve the nutritional quality of their products.

The second investment focuses on Couvoir Amar, a poultry company based in Senegal.

With the goal of increasing domestic poultry production, Couvoir Amar aims to make poultry more affordable for lower-income households.

This initiative supports greater consumption of protein-rich poultry, addressing Senegal’s low levels of poultry intake and contributing to improved nutrition in the region.

Both investments align with N3F’s mission to strengthen food value chains, reduce waste, and improve access to affordable, nutritious food across Africa.

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Nick Barigye is Transforming Rwanda into Africa’s Premier Financial Hub

Nick Barigye is Transforming Rwanda into Africa’s Premier Financial Hub

Nick Barigye is a seasoned finance professional and a driving force behind Rwanda’s emergence as a premier financial hub in Africa.

As the Chief Executive Officer of Rwanda Finance Limited (RFL), Barigye leads the country’s efforts to establish and grow the Kigali International Financial Centre (KIFC).

The platform is designed to attract global investments and facilitate cross-border business transactions in a safe, compliant, and forward-looking environment.

Nick brings over 15 years of experience in financial management, investment advisory, and strategic leadership across Africa.

His career trajectory reflects a deep commitment to unlocking Africa’s economic potential and empowering businesses to thrive in a globalized economy.

Before his role at RFL, he served in key leadership positions, including as the managing partner at Karisimbi Business Partners, a consultancy firm focused on supporting businesses in achieving sustainable growth in Africa.

He also served as the Senior Executive at Crystal Ventures, Rwanda’s largest investment firm, where he oversaw multi-million-dollar investments, fostering business expansion and operational efficiency.

Since taking charge at RFL, Nick has been instrumental in shaping Rwanda’s ambitions to become a leading pan-African financial center.

Under his leadership, the Kigali International Financial Centre (KIFC) has gained recognition as a modern, transparent, and globally competitive financial hub that meets international standards.

Nick envisions Africa as a continent that thrives on economic sovereignty, intra-regional trade, and foreign investment.

Through KIFC, he is creating a gateway for global investors to connect with opportunities across Africa while supporting African businesses to access capital for growth and innovation.

Key priorities under his leadership include promoting Rwanda as a secure and pro-business destination for investors seeking opportunities in Africa and facilitating access to financing and international markets for businesses to scale and compete globally.

Nick holds an MBA in Strategic Management from Strathmore Business School in Kenya and a Bachelor of Business Administration in Finance from the National University of Rwanda.

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Nigeria’s Juicyway Raises $3M Pre-Seed Funding to Revolutionize Cross-Border Payments

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Nigeria's Juicyway Raises $3M Pre-Seed Funding to Revolutionize Cross-Border Payments

Juicyway, a Nigerian startup specializing in cross-border payments, has announced a successful $3 million pre-seed funding round.

The funds will enable the company to strengthen its marketing and business development teams, enhance its technology, and scale operations in Nigeria, the United States, the United Kingdom, and Canada.

The funding round was led by P1 Ventures, with additional backing from Ventures Platform, Future Africa, Magic Fund, and Microtraction.

Angel investors Andrew Alli, Gbenga Oyebode, and Tunde Folawiyo also participated.

Founded in 2021 by Ife Johnson and Justin Ziegler, Juicyway operates as a marketplace that facilitates currency exchanges between local currencies and dollars.

The platform serves both suppliers—businesses that provide foreign currencies such as USD or CAD—and buyers—businesses requiring foreign currencies to complete international transactions.  

“Businesses use our services for two main purposes. Some need to convert local currency into US dollars to make international payments through our banking partners, while others leverage our accounts to bring foreign currency into the continent and convert it into local currency for disbursements,” explained Juicyway co-founder and CEO Ife Johnson.

Juicyway’s innovative approach addresses the persistent foreign exchange (FX) challenges faced by Nigerian businesses conducting frequent international transactions.  

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Swedfund and IFU Invest $44 Million with Sturdee Energy to Advance Renewable Energy in Southern Africa

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Swedfund and IFU Invest $44 Million with Sturdee Energy to Advance Renewable Energy in Southern Africa

Swedfund, the Swedish development finance institution, and the Danish Investment Fund for Developing Countries (IFU) have joined forces with Sturdee Energy to drive renewable energy expansion in Southern Africa.

The partnership aims to reduce reliance on coal-fired electricity in the region.

Southern Africa faces a critical power supply deficit, compounded by limited access to risk-tolerant capital for renewable energy projects.
 
In response, Swedfund and IFU are committing $44 million in direct equity investments to support Sturdee Energy’s ambitious renewable energy initiatives.

Sturdee Energy, an independent power producer (IPP), develops, owns, operates, and invests in renewable energy projects and infrastructure across the region.
 
The company’s mission is to foster economic growth and socio-economic development through sustainable energy solutions.

Sturdee Energy currently operates 31 megawatts (MW) of solar power installations in Namibia and Botswana and is constructing an additional 20MW of solar capacity in South Africa.
 
The company is also advancing over 200MW of renewable energy projects across four countries toward financial close.
 
These new wind and solar power plants are expected to generate more than 600 gigawatt-hours (GWh) of renewable energy annually, reducing carbon emissions by nearly 500,000 tonnes each year.

To ensure sustainable development, Swedfund and IFU have introduced an Environmental and Social Action Plan (ESAP) for the partnership.
 
This plan emphasizes the integration of human rights and labor standards throughout the project lifecycle.

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Sanari Capital Raises $80 Million to Scale Technology-Driven African Businesses

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Sanari Capital Raises $80 Million to Scale Technology-Driven African Businesses

Sanari Capital, a South African private equity firm, has announced the successful final close of its Sanari 3S Growth Fund, raising R1.5 billion (approximately $80 million).

 

The fund aims to support mid-market businesses across Africa, focusing on those driven by technology, innovation, and sectoral growth trends.

Samantha Pokroy, Sanari Capital’s CEO, expressed enthusiasm about the milestone, highlighting the confidence it reflects in the firm’s investment strategy. 

“With four investments already made and a strong pipeline of opportunities aligned with our themes, this capital allows us to execute at pace. We are optimistic about the positive impact on both the ground and the fund’s returns,” she said.

The fund has attracted a mix of institutional investors, including the Public Investment Corporation (PIC), Alexforbes Investments, the 27four Black Business Growth Fund, the Telkom Retirement Fund, the Motor Industry Retirement Funds, RisCura, and the National Fund for Municipal Workers.

Sanari Capital’s investment model targets businesses with the potential to scale, offering investments of up to R250 million ($14 million).

Its current portfolio includes companies with around 60% of revenues in hard currency, a reflection of their export-oriented and geographically diverse operations.

Moushmi Patel, Sanari’s executive director, noted the increasing global demand for innovative South African businesses, adding, “We are continuously inspired by the compelling technology and innovation that thrive in our market.”

The fund’s existing portfolio includes notable investments:

  • Edulife Group: A provider of affordable schooling solutions.
  • LightWare LiDAR: The developer of the world’s smallest and lightest LiDAR sensors.
  • iiDENTIFii: Africa’s leading enterprise identity verification company.
  • Energenic Holdings: A pan-African energy solutions provider.

Sanari also emphasizes diversity, transformation, and economic impact. “Private equity has a pivotal role in transforming our economy,” said Sihle Gumede 

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