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Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
African Changemaker
Tony Elumelu is a Nigerian entrepreneur, investor, and philanthropist passionate about Africa’s economic development.
A champion of #Africapitalism, the 59-year-old is on a mission to position Africa’s private sector and, most importantly, entrepreneurs as the catalyst for the social and economic development of the continent.
He is the founder of The Tony Elumelu Foundation, a philanthropic organization empowering African entrepreneurs to catalyze economic growth, drive poverty eradication, and ensure job creation.
Tony is also serving as the Chairman of Heirs Holdings, a family-owned investment holding company.
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The European Investment Bank has proposed an investment of approximately $85 million in Virunga Africa Fund II, a pan-African private equity fund managed by Admaius Capital Partners that is targeting $500 million.
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Cascador and Sterling Bank have announced a $200 million SME Credit Backstop Fund designed to help Nigerian small and medium-sized enterprises secure larger, longer-term bank loans with lower collateral requirements.
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Nithio has provided financing to Nigerian electric mobility company MAX, bringing its Series B3 funding round to $29 million to support the expansion of electric motorcycles and solar-powered charging and battery-swapping infrastructure across African markets.