New investors in this round include the Public Investment Corporation (PIC), the largest asset manager on the African continent, and Alexforbes Investments, South Africa’s leading provider of multi-manager investment portfolios.
Sanari Capital’s Chief Executive Officer, Samantha Pokroy, says that the funding will play a pivotal role in addressing structural economic imbalances, promoting transformation, fostering economic growth, creating jobs, and delivering both environmental and financial returns.
The fund will invest in well-established businesses at an inflexion point, driven by technology, innovation, thematic or sectoral growth drivers, and new markets.
Sanari Capital’s investment philosophy is centred on themes aligned with the ever-evolving global landscape, focusing on technology, a more interconnected digital world, IoT, data, and services.
Sanari Capital’s latest funding success represents a significant stride towards enhancing employment opportunities and catalysing economic growth in South Africa and across the African continent.
“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.
FrontEdge, a Nigerian fintech startup based in Lagos, has successfully raised $10 million in a seed round of funding, with over 70% of the capital contributed through debt financing.
To help small and medium-sized businesses in Africa access the financing they need, the International Finance Corporation (IFC) and investment firm TLG Capital have launched a new private credit initiative.
BURN Manufacturing, a leading Kenyan clean cookstove producer, has secured $12 million to accelerate the distribution of its clean cooking solutions across Africa.
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