Novastar Ventures led a USD2m seed round for Turaco, a Kenya-based insurtech with operations in Kenya and Uganda, with participation from Mercy Corps Ventures, Musha Ventures, GAN Ventures, Zephyr Acorn, and follow-on from angel investors. Read more… Read More
Target Global led a USD10m seed round for Kuda, a Nigeria-based fintech that operates a mobile-first challenger bank for consumers, with participation from Entrée Capital and SBI Investment, as well as fintech founders and angel investors. Read more… Read More
AfricInvest has agreed to sell its 30% stake in Tunisia-based geotechnical and foundation engineering company Hydrosol Foundations to Groupe Ginger for an undisclosed amount. Read more… Read More
EXEO Capital and Stellenbosch Graduate Institute (SGI) have jointly acquired South Africa-based Pearson Institute of Higher Education to expand access to higher education across South Africa and, selectively, in wider Africa. Read more… Read More
CDC Group has committed an additional USD100m to the existing trade risk sharing facility with SMBC Bank International to provide liquidity to markets and sectors in Africa. The investment brings CDC’s total commitment to the bank to USD200m. Read more… Read More
DEG has disclosed a USD40m investment in AfricInvest Fund IV signed in June 2020. The vehicle, which targets USD500m and is managed by pan-African private equity fund manager AfricInvest, will focus on mid-market growth capital transactions in Africa. Read more… Read More
Ninety One’s EAIF has invested USD15m in a local currency capital market bond issue by Senegal’s Port Autonome de Dakar (PAD), the owner of the Port of Dakar. The proceeds of the bond will help fund the relocation of the capital city’s port and its operations to a… Read More
Climate Fund Managers (CFM) and Eos Capital have announced a partnership between Climate Investor Two (managed by CFM), Kelp Blue, and the Namibia Infrastructure Development and Investment Fund (NIDIF), managed by Eos Capital, for the commercial development of a large-scale kelp farm in Namibia. Read more… Read More
KawiSafi Ventures led a USD13.5m Series B for Angaza, a US- and Kenya-based pay-as-you-go technology platform enabling consumer access to essential products in emerging markets. Total Carbon Neutrality Ventures, the VC arm of broad energy company Total, participated in the round and existing investors Ajax Strategies, Emerson Collective,… Read More
CDC Group has invested an additional USD40m in Liquid Telecom, an pan-African fiber, data center, and cloud technology provider, after investing USD180m in 2018. Read more… Read More
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