Author: Fred Kennedy

Seedstars Africa Ventures I, a venture capital fund dedicated to early-stage startups in Africa, has reached a landmark $42 million first close.

Francophone-focused fintech startup HUB2 has raised €8 million (US$8.4 million) in a Series A funding round to scale its seamless and secure platform that unifies national and cross-border financial services across various payment methods.

Egypt-based logistics platform Nowlun has raised $1.7 million in a seed funding round led by Nama Ventures and A15, with additional contributions from Sanabil 500 Global and prominent angel investors.

President Joseph R. Biden has announced more than $1 billion in additional humanitarian assistance to address urgent needs arising from food insecurity and crises affecting refugees, internally displaced persons (IDPs), and vulnerable communities in 31 African countries.

Moroccan urban mobility startup Enakl has raised $1.4 million in pre-seed funding to advance its mission of offering safer, smarter, and sustainable collective transport solutions for daily commutes, both locally and internationally.

Swiss development finance institution, SIFEM, has committed $15 million to the first close of Ninety One’s Africa Credit Opportunities Fund 3, which targets a total fundraising of $500 million.

SPE Capital Partners, through its AIF I Fund, has invested MAD 350 million (approximately $35 million) in Moroccan consumer goods company Dislog Group.

Sahel Capital, the fund manager for the Social Enterprise Fund for Agriculture in Africa (SEFAA), has approved a term and working capital loan of approximately $610,000 to support Ghanaian-based Oyster Agribusiness.