Author: Fred Kennedy
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Summit Africa Secures IFC Backing for $175 Million SPEF II Fund
South African private-equity firm Summit Africa has secured a US$20 million commitment from the International Finance Corporation (IFC) toward its second fund, Summit Private Equity Fund II (SPEF II).
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FSD Africa Launches US$30 Million Fund to Expand Insurtech Growth Across Africa
FSD Africa has unveiled a US$30 million venture fund, the Inclusive Insurtech Investment Fund (3iF), aimed at inviting more private capital into the continent’s insurtech industry.
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AfDB Approves $15 Million Investment in Adenia Fund to Boost Small and Mid-Sized Firms
The African Development Bank (AfDB) has approved a $15 million equity injection into Adenia Entrepreneurial Fund 1 (“AEF 1”), a private-equity vehicle managed by Adenia Partners.
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Jackfruit Network Gets $5 Million from TLG and IDP Foundation to Scale Lending to Low-Cost Kenyan Schools
Kenya-based SME lender Jackfruit Network secured a US$5 million financing facility backed by TLG Capital and the IDP Foundation.
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Chui Ventures’ First Fund Hits $17.3m as It Accelerates Investment in African Startups
Chui Ventures, the pan-African early-stage venture capital firm with a gender-inclusive investment philosophy, has closed its maiden Fund I at US$17.3 million, comfortably surpassing its initial target of US$10 million.
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Cairo HR Tech Startup Bluworks Raises $1 Million to Accelerate Regional Expansion
Cairo-based HR tech startup Bluworks has raised $1 million in a seed funding round to support its expansion across Egypt and into the broader Middle East and North Africa (MENA) region.
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Enko Capital Secures $30 Million from PIC to Grow Private Credit Access Across Africa
South Africa’s state-owned asset manager, the Public Investment Corporation (PIC), has committed $30 million to a private-credit vehicle run by the Africa-focused alternative investment firm Enko Capital.
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Walmart Makes African Debut With Launch of First Retail Store in South Africa
The U.S. retail giant Walmart has officially opened its first store under the Walmart name in South Africa, marking a major step in its African expansion.
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South Africa’s Plentify Raises Series A to Take Its Smart Energy Tech Global
South African climate-technology firm Plentify has successfully closed a Series A funding round, adding new momentum to its mission of smarter home energy management as it sets its sights on international markets.