New Investments
Village Capital and Standard Chartered Partner to Invest in Women-Led Startups in Africa
This initiative targets early-stage, impact-focused startups led by women, aiming to provide much-needed catalytic capital and propel their ventures forward.
Unlocking Opportunities for Impactful Businesses
The partnership recognizes the persistent challenges women entrepreneurs face in accessing funding compared to their male counterparts.
By dedicating resources to women-driven businesses tackling local and global issues, the initiative seeks to create a ripple effect, fostering economic growth and social impact.
Heather Matranga, Vice President of Impact Investments at Village Capital, expressed her enthusiasm:
“We’re thrilled to partner with Standard Chartered and support their vision of empowering women founders. Through this innovative financing facility, we aim to unlock more opportunities and capital for these impactful ventures, catering to their diverse needs across various markets.”
Investing in Promising Ventures
Marking a significant milestone, Village Capital announced its initial investments in two startups:
Bena Care: A Kenyan company delivering affordable clinical and supportive care to patients with life-limiting illnesses in their homes.
Mighty Finance: A Zambian fintech startup dedicated to providing accessible capital primarily to women-led businesses.
Each startup received $75,000, bringing the initial investment to $150,000.
Joyce Kibe, Head of Corporate Affairs, Brand and Marketing at Standard Chartered, emphasized the program’s significance saying:
“This partnership builds upon our successful Women in Tech program, which has equipped over 70 women-led businesses with valuable tools and support. We believe investing in women entrepreneurs fosters stronger, more resilient economies and addresses crucial needs often overlooked in the startup ecosystem.”
Standard Chartered’s Women in Tech program has empowered 64 women-led businesses through six cohorts, awarding grants totalling $7 million to 32 participants.
This new partnership signifies the bank’s and Village Capital’s unwavering commitment to promoting diversity, equity, and inclusion in the impact investing sphere.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
You may also like...
Finnfund Provides $5 Million Loan to Improve Mobile Connectivity in South Sudan
Finnish development financier Finnfund has announced a $5 million mezzanine loan to Communication & Renewable Energy Infrastructure (CREI) to support the installation of hybrid power solutions for telecom sites in South Sudan.
BluePeak Private Capital Raises $156 Million to Support Growth of African Businesses
BluePeak Private Capital, a private capital firm focused on supporting the growth of scalable businesses in Africa, has reached a final close of its Private Capital Fund SCSp at $156 million.
Uganda’s Agent Banking Company (ABC) Secures Investment from Goodwell Investments
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.