Valar Ventures led a USD25m Series A for Nigeria-based fintech Kuda, with follow-on from Target Global. Kuda raised a USD10m seed round led by Target Global in November 2020. Read more… Read More
TPG’s The Rise Fund has agreed to invest USD200m in Airtel Mobile Commerce BV (AMC BV), an Airtel Africa subsidiary and the holding company for several of Airtel Africa’s mobile money operations across 14 African countries. The investment will bring AMC BV’s valuation to USD2.65b. Read more… Read More
Ninety One’s EAIF has agreed to provide EUR29m (approximately USD34.6m) in financing to Urbasolar, the developer of a 30MW solar plant in Burkina Faso. The new solar energy plant will supply all the electricity it produces to Burkina Faso’s national power utility. Read more… Read More
When Actis began evaluating the 158 megawatt (MW) Parc Eolien Taiba N’Diaye (PETN) project in 2016, it saw an opportunity to transform the Senegalese power sector by building the country’s first utility-scale wind power plant. In February 2020, PETN was officially inaugurated by Senegalese Head of State Macky Sall… Read More
IFC has committed USD3m to Savannah Fund II, a seed fund with a focus on supporting women entrepreneurs and disruptive companies in high-growth sectors in Africa. The fund, which targets USD25m, recently reached an undisclosed first close. Read more… Read More
Avenir Growth Capital and Tiger Global Management led a USD170m Series C for Flutterwave, a digital payments platform for African businesses, at a reported valuation of ~USD1b, with participation from DST Global, Early Capital Berrywood, Green Visor Capital, Greytcroft, Insight Ventures, Salesforce Ventures, Worldpay FIS and 9yards Capital. Read More
SunFunder has reached a USD70m final close for its Solar Energy Transformation (SET) Fund, a blended finance vehicle focused on distributed solar and storage investments in Africa and Asia. Investors in the fund include U.S. International Development Finance Corporation (DFC), the Development Bank of Austria (OeEB), Swedfund, Bank… Read More
African Infrastructure Investment Managers (AIIM) and French electricity company EDF Group (EDF) have agreed to make an undisclosed investment in the Kenyan unit of solar solutions provider Bboxx. Under the terms of the agreement, EDF will hold a 23% stake in the unit, while AIIM will increase its… Read More
Africa’s technology sector has remained a bright spot across the continent’s private-investment landscape even as the coronavirus pandemic dampened overall investment volume along with many of the region’s economies. “The bright spot of opportunity has been around e-commerce, fintech and related sectors,” said Cate Ambrose, a board member and chief… Read More
Proparco has made a convertible note investment in Nuru, a renewable energy company based in the Democratic Republic of Congo, as part of the company’s Series B. Proparco invested alongside existing investors Energy Access Ventures (EAV) and EDFI ElectrFi, and new investors Gaia Impact and the Joseph Family… Read More
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