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.
Leading on-demand delivery platform Glovo has announced the launch of the Glovo Africa Graduate Program, an initiative designed to empower and develop young Kenyan talent with aspirations in the tech industry.
Pan-African fintech leader Flutterwave has acquired 13 new money transmission licenses in the United States, significantly expanding its reach in the crucial cross-border payments market.
Ghanaian startup Kofa, a pioneer in battery network solutions, is expanding its operations in the country through a GBP6.15 million (US$8 million) special purpose vehicle (SPV).
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