Posted on Leave a comment

Ghanaian cleantech startup Kofa secures funding to make clean energy affordable and accessible

New Investments

Ghanaian cleantech startup Kofa secures funding to make clean energy affordable and accessible

| Article

Kofa, a dynamic startup based in Ghana, has secured funding to revolutionize the energy sector with its pioneering Battery-as-a-Service (BaaS) model.

In a bid to overcome the limitations of traditional energy storage systems, Kofa has set its sights on powering the nation’s future with a sustainable and innovative approach. Kofa’s game-changing BaaS model allows customers to access advanced battery technology without the hassle of upfront costs or ownership.

 

This transformative service allows residential and commercial clients to tap into the advantages of energy storage without bearing the burden of heavy capital investment. By proactively harnessing renewable energy sources, Kofa aims to bridge the gap between intermittent power supply and constant demand. Kofa’s recent funding round was led by Mercy Corps Ventures, Shell Foundation, UK’s FCDO (Foreign, Commonwealth & Development Office), and Wangara Green Ventures.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on Leave a comment

Nigerian B2B e-commerce startup Sabi raises $38 million in Series B funding

New Investments

Nigerian B2B e-commerce startup Sabi raises $38 million in Series B funding

| Article

Sabi, a prominent B2B African e-commerce platform, has raised $38 million in Series B funding at a valuation of $300 million.

The substantial valuation was driven by a consortium of investors, including Commerz Ventures, Norrsken22, Fluent Ventures, Proof VC and pan-African early-stage investors CRE Venture Capital and Janngo.africa Capital. The funding injection will fuel Sabi’s expansion plans, enhance its technological infrastructure, and bolster its market presence across multiple African countries.

 

Sabi’s platform seeks to revolutionize how B2B transactions are conducted in Africa, providing a seamless digital marketplace for buyers and sellers to connect, negotiate, and trade goods and services. By leveraging technology and economies of scale, Sabi has successfully transformed the traditional B2B landscape, simplifying complex procurement processes and streamlining supply chains for businesses of all sizes.

 

The new funding will enable Sabi to develop its platform further, enhancing its features and user experience. Additionally, Sabi plans to invest significantly in its logistics network and expand its reach to underserved regions, ensuring that businesses across Africa can access a reliable and efficient B2B e-commerce ecosystem. The success of Sabi reflects the increasing investor interest in African startups and highlights the untapped opportunities within the B2B e-commerce space.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on Leave a comment

 ADF, Smart African Alliance join forces to boost digital trade in Africa.

Key Developments

ADF, Smart African Alliance join forces to boost digital trade in Africa

| Article

Siemens The African Development (ADF), in partnership with the Smart Africa Alliance, has launched a new project to drive digital trade in Africa.

The $1.5 million project will support the implementation of digital trade facilitation systems in several African countries. Burundi, Kenya, Malawi, Rwanda, Uganda, Tanzania, and Zambia, are among the countries that will benefit from the project. The DATC project is expected to improve trade efficiency in Africa by reducing transaction costs, enhancing predictability, and reducing trade-related risks.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on Leave a comment

 Afrilabs welcomes 19 new hubs to supercharge African innovation

Key Developments

Afrilabs welcomes 19 new hubs to supercharge African innovation

| Article

AfriLabs, one of Africa’s leading networks of technology and innovation hubs, to supercharge African innovation.

This expansion marks a significant milestone in AfriLabs’ mission to catalyze innovation, entrepreneurship, and technology-driven growth throughout Africa. By embracing these new hubs, AfriLabs further solidifies its position as a powerhouse, propelling Africa to the forefront of global innovation. The 19 hubs joining the esteemed AfriLabs network are strategically located across various African countries, ensuring a broad and inclusive representation of the continent’s innovation landscape.

By joining forces, AfriLabs and the newly added hubs will facilitate collaboration, knowledge sharing, and resource mobilization, empowering entrepreneurs, startups, and innovators across Africa.

The newly-added hubs include:

1. Enroot (Egypt)

2. Entrepreneurship Center of Social Impact-(Egypt)

3. Ichraf Jarray of Hive12 (Tunisia)

4. Soha Amer of Universite Senghor (Egypt)

5. iZet Hub (Kenya)

6. Knowledge Hub (KHub) (Ethiopia)

7. WiseHub (Kenya)

8. Antler Foundation Nairobi (Kenya)

9. Knight Ventures (Nigeria)

10. Axia Technology & Innovation Hub (Nigeria)

11. Eridan Group (Nigeria)

12. Mainstream Exelient Hub (Nigeria)

13. AfriTech Hub (Ghana)

14. TechHubHarare (Zimbabwe)

15. Acelera (Angola)

16. Afrisource Innovation Center (Namibia)

17. Fondation Bantu Hub (Congo)

18. IDENTIC Foundacion (Equatorial Guinea)

19. LPC Space (Equatorial Guinea).

 

Share :

You may also like...

Posted on Leave a comment

Zambia: MTN launches Skills Academy to empower youth with digital skills

Key Developments

Zambia: MTN launches Skills Academy to empower youth with digital skills

| Article

Siemens Did you know that the digital gap in Africa remains a significant challenge, with internet penetration estimated to be around 39.3%

The facility will provide the necessary financial resources to support the growth and development of private sector operations in Africa, which will, in turn, create more jobs, increase productivity, and foster inclusive economic growth. The loan will support various private sector operations, including infrastructure development, agribusiness, energy, and manufacturing. It will also provide financing for small and medium-sized enterprises (SMEs) in Africa, which is critical to job creation and economic growth.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on Leave a comment

AfDB secures $350 million from JICA to support Africa’s private sector

Key Developments

AfDB secures $350 million from JICA to support Africa’s private sector

| Article

The African Development Bank Group (AfDB) has secured a $350 million loan from the Japan International Cooperation Agency (JICA) to enhance its support for private sector operations in Africa.

The facility will provide the necessary financial resources to support the growth and development of private sector operations in Africa, which will, in turn, create more jobs, increase productivity, and foster inclusive economic growth. The loan will support various private sector operations, including infrastructure development, agribusiness, energy, and manufacturing. It will also provide financing for small and medium-sized enterprises (SMEs) in Africa, which is critical to job creation and economic growth.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on Leave a comment

African Startups to benefit from Capria Ventures’ new $100 million fund

Key Developments

African Startups to benefit from Capria Ventures’ new $100 million fund

| Article

Capria Ventures, the global investment firm focused on backing early-stage impact-driven businesses, announced its first Global South Fund II close at $100 million.

The new fund will focus on investing in 20-25 tech startups in Africa, India, Southeast Asia, Latin America, and the Middle East. The Global South Fund II aims to generate positive social and environmental impact in sectors such as healthcare, education, financial inclusion, and agriculture.

The fund’s investors include a mix of development finance institutions, family offices, and institutional investors from around the world.

Key among the investors in the fund includes Gates Ventures, the investment vehicle of tech mogul, Bill Gates. Other institutional investors include Crystal Springs Foundation, Inc., OIP Investment Trust, Sall Family Foundation, and Brakeman Family Trust, as well as two founders of Pioneer Square Labs. The Global South Fund II builds on the success of Capria’s first fund.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on Leave a comment

Amethis launches $490 million pan-African fund targeting African companies.

Key Developments

Amethis launches $490 million pan-African fund targeting African companies

| Article

Private equity firm Amethis has launched a $490 million pan-African fund to support high-potential companies across the continent.

With a track record of over 25 investments in 14 countries, Amethis has already significantly impacted Africa’s private equity landscape. The new fund will enable the firm to continue supporting entrepreneurs and businesses, making a difference in Africa’s future. The $490 million fund will focus on investing in high-growth sectors such as healthcare, education, financial services, and consumer goods. Amethis’ latest move comes at a time Africa’s private equity market is rapidly evolving, with the pan-African fund a clear demonstration of the firm’s commitment to driving sustainable socio-economic development on the continent.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on Leave a comment

Tanzania’s Kakono gets $300 million to deliver clean energy

Key Developments

Tanzania’s Kakono gets $300 million to deliver clean energy

| Article

Powering up Tanzania: The African Development Bank Group, the French Development Agency (AFD) and the European Union (EU) have teamed up to invest $300m in Tanzania’s Kakono hydropower plant.

The Kakono will be a run-of-river hydropower project with an annual energy-generating capacity of 573GWh. The project, expected to be operational by the end of 2026, will generate clean energy for up to 4 million people. This investment will not only benefit Tanzania but also contribute to the sustainable development of the region.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...