Category: New Investments

Moroccan electric mobility startup GoSwap has secured its first external investment, raising funds from the Azur Innovation Fund as it looks to scale its battery-swapping infrastructure and expand the use of electric two-wheelers across the country.

German development finance institution DEG has committed €15 million to the Adenia Entrepreneurial Fund I (AEF I), a pan-African private equity vehicle managed by Adenia Partners.

The Private Infrastructure Development Group (PIDG) has announced a €4.3 million investment in Afreenergy Solar to support the expansion of clean energy solutions for businesses in Senegal.

The International Finance Corporation (IFC) has committed $45 million to support the expansion of clean energy solutions for telecom infrastructure in Ethiopia, Liberia, and Sierra Leone.

RMBV’s North Africa Fund has committed MAD 850 million (approximately $90 million) to Africa Feed & Food (AFF), a Moroccan agro-industrial company, in a deal that also brings in French development finance institution Proparco.

South African fintech startup Littlefish has secured $9.5 million in Series A funding to accelerate the growth of its merchant services platform across Africa, as demand rises for better digital tools to support small businesses.

Africa-focused private equity firm Adenia Partners has secured $180 million at the first close of its Adenia Entrepreneurial Fund I (AEF), hitting its maximum fundraising limit in under a year.

Standard Bank has arranged a $22 million debt facility for Enko Education, providing fresh capital to support the school network’s expansion across Africa.

South African fintech startup Happy Pay has secured $5 million in seed funding as it looks to expand a new approach to buy-now-pay-later (BNPL) services built around advertising rather than consumer fees.