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Kenyan agritech Victory Farms has raised $35 million in Series B funding to finance its expansion plans.
Creadev led the Series B round, with participation from the Acumen Resilient Agriculture Fund (ARAF), DOB Equity, Endeavor Catalyst Fund, and Hesabu Capital. Founded in 2015, Victory Farms leverages innovative technologies to bring together the best aquaculture practices from around the globe to tackle the challenges of; rapidly declining wild fish catch in Lake Victoria, rising populations and undernourishment. The startup is on a mission to build a commercial tilapia farm to feed 2 billion Africans with affordable, accessible and healthy protein over the next two decades. Victory Farms intends to invest the funding to finance the expansion of its operations in Kenya and Rwanda and potential entry into Ethiopia, Uganda, and Tanzania.

Uganda’s Agent Banking Company (ABC) has received a significant investment from Goodwell Investments, a Netherlands-based impact investor. This marks Goodwell’s entry into Uganda’s financial inclusion sector.

Lucky ONE, an Egyptian fintech specializing in consumer credit, has successfully raised $3 million in a convertible bond funding round.

The African Development Bank (AfDB) has announced a historic $11.1 billion in new investments for the 2024–2025 period, marking the highest annual commitment in its history.