Category: New Investments

A new partnership between the Mastercard Foundation Africa Growth Fund and Capital Connect Africa (CCA) is aiming to tackle one of the biggest challenges faced by African micro, small, and medium enterprises (MSMEs): access to financing.

South African electric vehicle startup Zimi has received a grant of $320,000 (about R6 million) from the Energy and Environment Partnership (EEP Africa Trust Fund).

Scalar International and Mergence Investment Managers have launched a new $150 million private equity fund to support clean energy and digital infrastructure projects in the region.

South African payments company Stitch has raised $55 million in its latest Series B funding round, pushing its total funding to $107 million.

Development Partners International (DPI), a major private equity investor, has raiseda new venture capital platform aimed at supporting technology startups across Africa.

FSD Africa Investments (FSDAi), a UK-backed development finance investor, has announced a $12.5 million investment into the ARM-Harith Climate and Transition Infrastructure Fund (ACT Fund) to attract more local capital into climate-related infrastructure projects across Nigeria.

Nigerian clean energy company Arnergy has secured $15 million in new Series B funding, bringing its total for the round to $18 million following a $3 million raise in 2023.

Rabbit, a fast-growing quick commerce startup from Egypt, has officially entered the Saudi Arabian market and opened its regional headquarters in Riyadh.

New GX Capital and RMB Ventures have introduced the Airnergize Capital Fund I with an initial commitment of approximately $120 million.