Author: Fred Kennedy
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South Africa’s Jem Raises $8.4 Million to Expand WhatsApp-Based Workforce Platform
South African workforce management startup Jem has raised $8.4 million in Series A funding to accelerate product development and expand its WhatsApp-based platform for deskless employees. Quona Capital led the round, which Jem announced on August 17, 2026.
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African Startup Funding Hits $1.66 Billion as Debt Drives EV and Energy Deals
African startups and growth companies raised $224 million in July, lifting total funding for the first seven months of 2026 to $1.66 billion.
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IFC Proposes $50 Million Investment in African Renewable Energy Fund UGEAP
The International Finance Corporation has proposed an equity investment of up to $50 million in the Universal Green Energy Access Programme, a fund seeking to expand financing for distributed renewable energy projects across sub-Saharan Africa.
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Africa50, TPDC and TAQA Arabia Sign Deal for Tanzania LNG Project
Africa50, the Tanzania Petroleum Development Corporation (TPDC) and TAQA Arabia have signed an agreement to invest in, develop and operate the first phase of a small-scale liquefied natural gas project in Tanzania.
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BluePeak Fund II Invests $12 Million in Monty Mobile to Expand African Messaging Infrastructure
BluePeak Private Capital Fund II has invested an initial $12 million in Monty Mobile International to expand enterprise messaging services across Africa.
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IFC Commits $25 Million to Jumia in $50 Million Equity Raise
The International Finance Corporation has committed $25 million to Jumia Technologies AG as part of a $50 million equity raise aimed at expanding the company’s e-commerce and logistics operations across Africa.
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BII and Africa50 Sign Infrastructure Investment Pact Backed by $20 Million Commitment
British International Investment (BII) and Africa50 have signed a memorandum of understanding to expand joint infrastructure investment across Africa, with the UK development finance institution committing $20 million to the Africa50 Infrastructure Acceleration Fund.
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Small Foundation Commits Capital to AgDevCo Ventures for East African Agribusinesses
Small Foundation has made an undisclosed capital commitment to AgDevCo Ventures, increasing the pool of long-term financing available to early-stage agricultural businesses in East Africa.
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AHL Venture Partners Secures Additional $15 Million for Africa Credit Fund, Bringing Total to $45.5 Million
AHL Venture Partners has secured a further $15 million debt facility for the AHL Africa Credit Fund I, increasing the vehicle’s total capital raised to $45.5 million.