Tag: Startup News
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Secha Capital Secures New Backing from E Squared for $40 Million SME Growth Fund
Secha Capital has secured additional backing for its second growth fund, bringing in E Squared Investments as a new investor as it advances toward its fundraising target.
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Proparco Backs Novastar’s $147 Million Africa Climate-Focused Fund With $5 Million Commitment
Proparco, the private sector arm of the French Development Agency, has invested $5 million in Novastar Ventures’ Africa People and Planet Fund III, which has now reached a final close of $147 million.
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Metalosul Secures Enko Capital Funding for Major Solar Expansion in Angola
Enko Capital has made a new investment in Angola’s renewable energy sector through its Impact Credit Strategy, supporting a large-scale solar project being developed by Metalosul, a subsidiary of the Omatapalo Group.
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Ethiopia’s Dodai Raises $13 Million to Expand Electric Motorbike and Battery-Swapping Network
Ethiopian electric mobility startup Dodai has secured $13 million in fresh funding to scale its electric motorbike operations and battery-swapping network, as the country pushes toward cleaner transport solutions.
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IFC Proposes $40 Million Investment in Cygnum Capital’s Facility for Energy Inclusion Fund
The International Finance Corporation (IFC) is considering an equity investment of up to $40 million in the Facility for Energy Inclusion (FEI), a continent-wide debt fund focused on expanding access to renewable energy in Africa.
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Eswatini-Born Swoop Raises $7.3 Million Seed Round to Launch Food Delivery Expansion in Nigeria
Swoop, a food delivery startup founded in Eswatini, has secured $7.3 million in seed funding as it prepares to enter Nigeria, marking its first expansion beyond its home market.
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How Andela is Connecting African Tech Talent to Global Jobs in the AI Economy
Andela connects African tech talent to global opportunities, building a scalable workforce for the AI economy through a global talent marketplace.
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AfDB Backs Nigeria’s Digital Push with $200 Million to Deploy 90,000km of Fibre and Create 2.8 Million Jobs
The African Development Bank Group has approved a $200 million loan to Nigeria to support a major national programme aimed at expanding broadband infrastructure, improving digital skills, and creating jobs.
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South Africa’s Nafasi Water Raises $9.8 Million from Norfund to Expand Water Infrastructure Projects
Norfund, the Norwegian development finance institution, has invested R160 million (approximately $9.8 million) in South African firm Nafasi Water Technologies.