New Investments
FSD Africa's Bimalab Africa Insurtech Accelerator Program Gets $600,000 For Africa Expansion
This investment will fuel the program’s expansion into five additional African countries: Tanzania, Tunisia, Senegal, Zambia, Malawi, and Somalia.
Previously operating in 10 countries, Bimalab’s reach will now encompass 15 nations across the continent by 2025. This growth is anticipated with the continued support from the Swiss Re Foundation.
Launched in Kenya by FSD Africa in 2020, Bimalab offers practical assistance to insurtech startups.
These ventures focus on developing sustainable solutions for underserved communities and businesses particularly vulnerable to climate-related challenges.
The program fosters a collaborative environment where stakeholders like insurance innovators, technology partners, established insurance firms, investors, and regulatory bodies can work together.
“Bimalab Africa is creating an insurtech ecosystem that empowers startups to reach previously underserved markets,” said Elias Omondi, Bimalab Africa Programme Lead.
“This expansion will enable us to have a wider impact and contribute to a more resilient Africa.”
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
You may also like...
Seamfix Secures $4.5 Million to Expand Digital Identity Services Across Africa
Nigerian digital identity solutions provider Seamfix has secured $4.5 million in funding to fuel its expansion into five new African countries.
Pan-African VC Firm P1 Ventures Completes First Close of Second Fund at $25 Million To Invest in African Startups
P1 Ventures, a Pan-African seed venture capital fund, has announced the first close of its second fund at $25 million.
CSIR secures $4m million in funding from Bill & Melinda Gates Foundation
The Council for Scientific and Industrial Research (CSIR) has secured a $4 million investment from the Bill & Melinda Gates Foundation to drive skills and health innovation.