This initiative will primarily focus on SMEs in North, East, and West Africa, operating in key sectors such as education, health, and agribusiness.

The investment aligns with Proparco’s Choose Africa initiative, which is dedicated to bolstering African SMEs and start-ups.

Jérémie Ceyrac, Proparco’s Investment Director, highlighted the fund’s objectives, stating:

“This investment is fully in line with the Choose Africa initiative, which Proparco has launched to support SMEs and start-ups in Africa. This fund reflects our ambition to strengthen the capacities of African entrepreneurs and to respond to economic, social, and environmental challenges in a sustainable manner. Our partnership with AfricInvest goes back more than 25 years, and we are proud to once again play a joint role in supporting the continent’s economic fabric.”

AfricInvest, a leading Pan-African investment platform, views this fund as a continuation of its mission to empower high-growth, high-impact African businesses.

Brahim El Jai, Senior Partner at AfricInvest, remarked:

“This fund is part of our ongoing commitment to support small and medium-sized African businesses with high growth and impact potential in their ambition to become drivers of sustainable transformation. By combining financial support with our local and multi-regional expertise, we are supporting innovation, job creation, and the adoption of climate strategies in line with the Paris Agreements. Our aim is to help these companies generate measurable economic, social, and environmental value while consolidating their position in strategic markets.”

This collaboration underscores the long-standing partnership between Proparco and AfricInvest, spanning more than two decades. 

The funding will drive the expansion of MOPO’s battery rental operations in the Democratic Republic of Congo (DRC), a cornerstone of the company’s strategic growth plans in Africa.

MOPO aims to revolutionize energy access across urban and rural areas in Africa, addressing the persistent issue of unreliable or non-existent electricity grids.

The company’s offerings include two battery types: the MOPO50, designed for lighting, phone charging, and small DC appliances, and the larger MOPOMax, capable of powering 230V appliances and serving as a battery swap solution for e-motorbike taxis.

These batteries are available through solar-powered hubs managed by local agents, enabling customers to access electricity on a pay-per-use basis without the financial burden of upfront costs or consumer debt.

The new funding will allow MOPO to triple its service capacity in the DRC over the next year, targeting over one million people.

With only 17% of the DRC’s population having access to electricity, the World Bank ranks the country among the ten least electrified globally.

MOPO’s model provides an affordable and environmentally friendly alternative to carbon-based fuel generation, addressing a critical need for sustainable energy solutions.

Chris Longbottom, MOPO’s CEO, emphasized the transformative potential of the funding, stating:

“Our partnership with BII aligns perfectly with our mission to provide clean, affordable energy to underserved communities. This collaboration will enable us to make a lasting impact, empowering households and small businesses without the burden of costly upfront investments.”

Since its launch in the DRC in early 2024, MOPO has established operations in six cities and achieved over 23 million battery rentals across Sub-Saharan Africa.

The DRC has emerged as a key growth market due to its vast population of over 100 million, where more than 80% lack access to electricity.

“This financing from BII is a pivotal moment for MOPO as we scale our operations and bring transformative energy solutions to millions,” Longbottom added.

Chris Chijiutomi, Managing Director and Head of Africa at BII, highlighted the significance of MOPO’s mission: “MOPO’s innovative solutions are addressing a critical energy deficit, enabling businesses and households to thrive even in remote areas. This partnership reflects BII’s commitment to fostering sustainable economic growth in Africa’s frontier markets.”

Lord Collins of Highbury, UK Minister for Africa, echoed these sentiments, emphasizing the broader impact of UK investment in driving sustainable economic growth in Africa. “This partnership between BII and MOPO showcases how UK expertise can unlock opportunities for green development, creating value for businesses in the UK and Africa alike,” he said. 

Co-founder and CEO Alastair Bovim described the investment as a testament to the growing commitment to leveraging technology in addressing climate change and promoting innovation in industries such as mining and beyond.

The company’s platform addresses critical climate-related challenges, including geotechnical and environmental risk management and GHG emissions monitoring.

Insight Terra plans to use the new funding to strengthen its commercial and technical teams, enabling it to provide enhanced support for global industries navigating increasing environmental regulations and investor scrutiny.

According to Bovim, the platform’s capabilities will expand to meet the complex monitoring, reporting, and verification needs of various sectors, ensuring safety and compliance with international standards.

Insight Terra’s real-time edge-to-cloud data management system transforms environmental data into actionable insights.

It empowers industries to address pressing questions, such as whether their operations are safe and compliant with international standards.

In regions like South Africa, where climate change heightens the risk of infrastructure failures, real-time monitoring can mitigate environmental and human impacts, exemplified by incidents like the 2019 Brumadinho dam collapse in Brazil.

The funding round was led by E3 Capital, with participation from Fireball Capital, Atlantic Bridge, Globalive, and JLR Star.

E3 Capital’s Andrew Darge highlighted the platform’s potential to manage climate-related risks in Africa’s critical industries, aligning with E3’s mission to invest in low-carbon solutions.

Fireball Capital CEO Paula Mokwena praised Insight Terra’s leadership in driving environmental, social, and governance (ESG) outcomes, while Atlantic Bridge Managing Partner Kevin Dillon acknowledged the company’s impressive progress since its initial Series A round.

This follow-on investment, finalized in December 2024, doubles Norfund’s initial US$40 million commitment made in July 2022.

CrossBoundary Energy had previously secured US$40 million in funding from ARCH’s Africa Renewable Power Fund.

The increased funding aims to support the rapid expansion of CrossBoundary Energy’s commercial and industrial renewable energy portfolio, which has grown to approximately US$680 million across 18 African nations.

This portfolio encompasses 500 megawatts (MW) of solar, wind, and thermal energy assets, along with over 600 megawatt-hours (MWh) of battery storage solutions.

The projects include large-scale hybrid power plants for mining operations, rooftop and ground-mount solar photovoltaic (PV) systems for industrial clients, and distributed solar PV and battery power setups for telecommunications sites.

Muna Yuusuf, Associate Principal at CrossBoundary Energy, highlighted the significance of Norfund’s investment, stating:

“Norfund’s investment signifies a strong vote of confidence in CBE’s capability to meet the increasing demand of commercial and industrial customers for affordable, clean, and reliable power – the backbone of powering sustainable growth in key industries and economies across Africa.”

Rivhatshinyi Mandavha, Senior Investment Manager at Norfund, underscored the growing demand for clean energy solutions on the continent, saying:

“The need for innovative energy solutions in Africa is growing rapidly.

CrossBoundary Energy is a leading provider of solutions that are poised to bolster clean energy capacity and job creation on the continent.”

Headquartered in Mauritius, CrossBoundary Energy operates in 18 African countries, serving clients that include prominent global and regional companies such as Rio Tinto, Unilever, Diageo, Heineken, and the Devki Group.

The company’s renewable energy solutions are designed to provide cost-effective, sustainable power, enabling businesses to reduce operational costs and carbon emissions while driving industrial growth across the region.

This development comes three months after Moniepoint’s $110 million Series C funding round, which tripled its valuation to over $1 billion, signaling growing investor confidence in the company’s potential.

Founded in 2015, Moniepoint provides banking and payment services tailored to small and medium-sized businesses (SMEs) and retail customers.

As a leader in Nigeria’s agent banking sector, Moniepoint boasts a network of over 300,000 point-of-sale (POS) agents and processed 5.2 billion transactions in 2023.

The investment by Visa aims to support Moniepoint’s mission of enhancing financial inclusion for African businesses.

This partnership combines Moniepoint’s local expertise and innovative approach with Visa’s global capabilities.

“Visa’s backing is a strong endorsement of our vision to digitize and support African businesses at scale,” said Tosin Eniolorunda, Founder and Group CEO of Moniepoint.

“We aim to deepen financial inclusion, enabling SMEs to access the tools and resources they need to thrive in an increasingly digital economy.”

Visa’s investment adds to an impressive roster of Moniepoint’s supporters, including Development Partners International, Google’s Africa Investment Fund, Verod Capital, Lightrock, QED Investors, Novastar Ventures, British International Investment (BII), FMO, Global Ventures, and Endeavor Catalyst.

Highlighting Moniepoint’s impact, Andrew Torre, Regional President for Central and Eastern Europe, Middle East, and Africa at Visa, stated:

“Moniepoint has built an impressive platform that directly addresses the needs of Africa’s SMEs, a critical segment in enabling economic development.”

“By making financial services and digital payments more accessible and efficient, Moniepoint is helping transform how businesses operate in Nigeria and beyond. We are excited to support their next phase of growth and innovation.”

Sevi is revolutionizing stock financing for wholesalers and retailers with its innovative “stock-now, pay-later” platform, designed to address the challenge of insufficient working capital.

The platform enables retailers to access credit for stock purchases while ensuring suppliers receive upfront payments.

This dual-benefit model supports suppliers such as Coca-Cola, Anytime, and Philmed, who are paid directly through Sevi, while retailers gain the flexibility to order stock on credit, fostering business growth.

Sevi leverages artificial intelligence and machine learning to enhance its credit evaluation process, providing tailored financing solutions to its users.

“Our mission is to empower wholesalers and retailers by providing them with the working capital they need to grow their shops,” said Walter aan de Wiel, founder of Sevi.

“With our app, retailers can access stock on credit, repay easily, and focus on expanding their businesses, while suppliers benefit from upfront payments.”

The fintech operates on a one-week credit cycle, which reduces supply chain friction and boosts efficiency for both retailers and suppliers.

Calvin Chitangala, Investment and Project Manager at Renew Capital, highlighted the significance of Sevi’s innovation.

“Sevi is solving a critical working capital gap in the FMCG sector,” he said. “Their platform makes stock financing more accessible and efficient, empowering businesses to grow faster.”

The first is the KawiSafi Fund II, a $200 million fund aimed at accelerating the green energy transition and supporting decarbonization strategies across sub-Saharan Africa.

This fund focuses on late-stage venture and early-growth equity investments, prioritizing sectors that include energy transition, green productivity, sustainable mobility, logistics, and carbon-based natural solutions.

KawiSafi Fund II seeks to catalyze Africa’s shift towards renewable energy while addressing critical environmental challenges.

The second initiative, the Catalyst Fund, is a venture capital fund and accelerator designed to support early-stage technology startups with high-impact solutions for climate adaptation and resilience.

This fund invests across diverse sectors such as agritech, climate fintech, sustainable energy, agro-forestry, and water management, tackling pressing issues like waste reduction, cold chain innovation, and sustainable food systems.

In addition to financial investments, the Catalyst Fund offers bespoke venture-building support to help startups scale effectively, ensuring they are equipped to deliver long-term impact.

These strategic investments by Heading for Change reflect a deep commitment to advancing climate resilience and sustainable development in Africa.

Founded in 2021 by Nader Abdelrazik and Mustafa Eid, MoneyHash offers a proprietary payment orchestration platform and an end-to-end payment operating system.

The company’s beta launch in 2022 attracted key regional clients, including Foodics, Rain, and Tamatem.

Building on this momentum, the startup unveiled its enterprise suite in October 2023 to cater to large-scale businesses.

This latest funding round, led by Flourish Ventures, included participation from notable investors such as Vision Ventures, Arab Bank’s Xelerate, and Emurgo Kepple Ventures.

The round also drew the involvement of industry veterans like Jason Gardner, founder and former CEO of Marqeta, as well as returning investors COTU, RZM Investment, and GitHub founder Tom Preston-Werner.

“Strengthening our capital table capabilities is as crucial as enhancing our business and product offerings,” said Abdelrazik.

“Our early strategy of partnering with strong regional investors has paved the way for market penetration. Now, with Flourish Ventures on board, we are building a foundation for global expansion.”

Flourish Ventures’ venture partner, Ameya Upadhyay, will join MoneyHash’s board of directors.

“MoneyHash has created a must-have product that enhances payment performance and margins from the outset. With a vast opportunity in emerging markets, the team’s experience and customer-centric approach position them as a future leader in the sector,” he said.

This funding milestone comes less than a year after MoneyHash raised $4.5 million in seed funding, demonstrating its rapid growth and increasing appeal among investors.