Tag: Investment News
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Vodafone Business and Cassava Technologies Launch Egypt’s First Sovereign AI Factory
Vodafone Business and Cassava Technologies have partnered to develop Egypt’s first sovereign AI factory, giving government agencies and businesses access to locally hosted NVIDIA-powered computing infrastructure for artificial intelligence applications.
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Grindstone Ventures Launches $31 Million Fund for African Seed-to-Series A Companies
South Africa-based Grindstone Ventures has launched a R500 million venture fund, equivalent to about $31 million, to invest in high-growth, technology-enabled African businesses from Seed through Series A.
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Proparco Commits $15 Million to Capitalworks IV to Back South African Mid-Market Companies
Proparco has committed $15 million to Capitalworks IV, a private equity fund managed by South African investment firm Capitalworks, to support the expansion of mid-sized businesses in South Africa.
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ARC Ride Raises $33.3 Million to Expand Electric Mobility Infrastructure Across Africa
Kenya-based electric mobility company ARC Ride has raised $33.3 million in equity and debt financing to expand its battery-swapping network and electric two- and three-wheeler platform in Kenya and additional African markets.
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AHL Venture Partners Secures Second Close of Africa Credit Fund at $45.5 Million
AHL Venture Partners has completed the second close of its AHL Africa Credit Fund I at $45.5 million, advancing the private credit vehicle toward its $70 million fundraising target.
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Village Capital Makes First Investments in Nigeria After Backing Trade Lenda and AirSmat
Village Capital has invested a combined $450,000 in Nigerian startups Trade Lenda and AirSmat through its $4 million Africa Ecosystem Catalysts Facility, extending the fund’s portfolio into Nigeria after its first investments in Ghana.
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Nomba Secures $3 Million Debt Facility to Expand Africa–Asia Payments From the DRC
Nigerian fintech Nomba has secured a $3 million debt facility from CardinalStone Finance Company Limited to expand cross-border payments infrastructure connecting businesses in Central Africa with trading partners in Asia.
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U.S. Extends AGOA Through 2028, Preserving Duty-Free Market Access for African Exports
The U.S. House of Representatives has approved a short-term government funding bill that would extend the African Growth and Opportunity Act (AGOA) through December 31, 2028, preserving duty-free access to the U.S. market for eligible sub-Saharan African countries for a further two years.
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ChipMango Raises $1.9 Million Seed Round to Expand Semiconductor Engineering Across Africa
ChipMango, a California-headquartered semiconductor technology company, has raised $1.9 million in seed funding to expand its commercial engineering services and workforce development platform across Africa, the United States, and Europe.