Category: Key developments

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Zambia: MTN launches Skills Academy to empower youth with digital skills

Key Developments

Zambia: MTN launches Skills Academy to empower youth with digital skills

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Siemens Did you know that the digital gap in Africa remains a significant challenge, with internet penetration estimated to be around 39.3%

The facility will provide the necessary financial resources to support the growth and development of private sector operations in Africa, which will, in turn, create more jobs, increase productivity, and foster inclusive economic growth. The loan will support various private sector operations, including infrastructure development, agribusiness, energy, and manufacturing. It will also provide financing for small and medium-sized enterprises (SMEs) in Africa, which is critical to job creation and economic growth.

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AfDB secures $350 million from JICA to support Africa’s private sector

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AfDB secures $350 million from JICA to support Africa’s private sector

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The African Development Bank Group (AfDB) has secured a $350 million loan from the Japan International Cooperation Agency (JICA) to enhance its support for private sector operations in Africa.

The facility will provide the necessary financial resources to support the growth and development of private sector operations in Africa, which will, in turn, create more jobs, increase productivity, and foster inclusive economic growth. The loan will support various private sector operations, including infrastructure development, agribusiness, energy, and manufacturing. It will also provide financing for small and medium-sized enterprises (SMEs) in Africa, which is critical to job creation and economic growth.

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African Startups to benefit from Capria Ventures’ new $100 million fund

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African Startups to benefit from Capria Ventures’ new $100 million fund

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Capria Ventures, the global investment firm focused on backing early-stage impact-driven businesses, announced its first Global South Fund II close at $100 million.

The new fund will focus on investing in 20-25 tech startups in Africa, India, Southeast Asia, Latin America, and the Middle East. The Global South Fund II aims to generate positive social and environmental impact in sectors such as healthcare, education, financial inclusion, and agriculture.

The fund’s investors include a mix of development finance institutions, family offices, and institutional investors from around the world.

Key among the investors in the fund includes Gates Ventures, the investment vehicle of tech mogul, Bill Gates. Other institutional investors include Crystal Springs Foundation, Inc., OIP Investment Trust, Sall Family Foundation, and Brakeman Family Trust, as well as two founders of Pioneer Square Labs. The Global South Fund II builds on the success of Capria’s first fund.

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Amethis launches $490 million pan-African fund targeting African companies.

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Amethis launches $490 million pan-African fund targeting African companies

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Private equity firm Amethis has launched a $490 million pan-African fund to support high-potential companies across the continent.

With a track record of over 25 investments in 14 countries, Amethis has already significantly impacted Africa’s private equity landscape. The new fund will enable the firm to continue supporting entrepreneurs and businesses, making a difference in Africa’s future. The $490 million fund will focus on investing in high-growth sectors such as healthcare, education, financial services, and consumer goods. Amethis’ latest move comes at a time Africa’s private equity market is rapidly evolving, with the pan-African fund a clear demonstration of the firm’s commitment to driving sustainable socio-economic development on the continent.

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Tanzania’s Kakono gets $300 million to deliver clean energy

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Tanzania’s Kakono gets $300 million to deliver clean energy

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Powering up Tanzania: The African Development Bank Group, the French Development Agency (AFD) and the European Union (EU) have teamed up to invest $300m in Tanzania’s Kakono hydropower plant.

The Kakono will be a run-of-river hydropower project with an annual energy-generating capacity of 573GWh. The project, expected to be operational by the end of 2026, will generate clean energy for up to 4 million people. This investment will not only benefit Tanzania but also contribute to the sustainable development of the region.

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AstraZeneca to launch Africa Health Innovation Hub 

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AstraZeneca to launch Africa Health Innovation Hub

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Leading global pharmaceutical company AstraZeneca has announced the launch of its Africa Health Innovation Hub to increase access to healthcare on the continent.

The groundbreaking initiative will use the latest technologies to improve healthcare in Africa. AstraZeneca will roll out the project in partnership with Tricog Health in Kenya and MedSol AI Solutions in South Africa. The hub is part of the company’s A.Catalyst Network, which is made up of more than 20 health innovation hubs.

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VC firm Equator raises $40 million to back climate-tech African startups.

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VC firm Equator raises $40 million to back climate-tech African startups

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Equator, a VC firm focused on supporting innovative solutions to climate change, has raised $40 million in commitments to invest in African startups tackling climate challenge

Notable investors in the fund include British International Investment (BII), the The Global Energy Alliance for People and Planet (GEAPP), UK charity Shell Foundation and impact investor DOEN Participaties B.V. This investment represents a significant boost for the African climate tech ecosystem, providing much-needed capital to support the development and scaling of innovative solutions to the continent’s pressing environmental challenges. With climate change posing a significant threat to African economies and communities, Equator’s investment in these startups has been backed to drive real impact and create sustainable change.

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Kenya gets $378 million to electrify its public transport system

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Kenya gets $378 million to electrify its public transport system

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The European Union has provide Kenya with $378 million in funding to power the country’s electric Bus Rapid Transit (BRT) system.

The BRT system is expected to provide a faster, more efficient, and more affordable means of transport. Dubbed BRT 3, the transit line will feature zero-emission electric buses and will introduce intelligent transport system features. With the new funding, the government of Kenya will be able to further expand the BRT system, which renewable energy sources will power.

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DFC backs Novastar Ventures with $25 million to support African startups.

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DFC backs Novastar Ventures with $25 million to support African startups.

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The U.S International Development Finance Corporation (DFC) has invested $25 million in Novastar Ventures to support and invest in early stage startups in Africa

This investment will enable the Pan-African venture capital firm to continue its mission of backing innovative and impactful startups that are driving positive change in Africa. With a focus on sectors such as healthcare, education, and financial inclusion,  Novastar has already made significant investments in several African startups.

Novastar will roll out the funding under its new investment vehicle Africa People + Planet Fund. The Africa People + Planet Fund is Novastar’s third pool after the $108 million Africa Fund II, which saw it widen its geographical reach to include West Africa.

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