Tag: Investment

  • Sabou Capital targets $1.5 million investment to empower African SMEs

    Sabou Capital targets $1.5 million investment to empower African SMEs

    Sabou Capital, a new SME-focused investment fund that aims to close the funding gap for high-potential medium-sized enterprises in Anglophone and Francophone Africa, was launched on Monday, according to two-time founder Surayyah Ahmad.

    The fund aims to invest between $350,000 and $1.5 million in 25 SMEs, targeting agriculture, renewable energy, supply chain, logistics, and mobility sectors.

    Sabou Capital’s investment approach

    Sabou Capital positions itself as a “micro-private equity” firm, focusing on SMEs that leverage technology to improve operations rather than being purely tech-driven. This approach differentiates it from traditional venture capital firms, which often seek high-growth tech startups.

    Ahmad explained, “We are more of a hybrid—looking at SMEs with growth potential, not necessarily VC-scale, but with unmet demand that can leverage funding and technical assistance to grow”. The fund aims for a modest return of 2-3x, competing with private equity firms like Aruwa Capital and Catalyst Fund.

    Read Also: AfricInvest and Swedfund champion gender inclusion with new €15 million fund

    Sabou Capital also adopts a gender-lens investment approach, prioritizing funding for women entrepreneurs.

    Ahmad noted, “For every dollar invested in a woman, the return is 2x. Yet women face disproportionate barriers to funding. They often lack the networks and resources to go out and raise capital”.

    The fund will provide technical assistance to guarantee that its portfolio companies are investment-ready, emphasising operational systems, financial management, and corporate governance.

    Sabou Capital expands geographic reach

    Due to their economic stability and growth potential, Sabou Capital has selected Nigeria, Senegal, and Côte d’Ivoire as its geographic concentration.

    Christian Amouo, a seasoned private equity professional with a specialisation in Francophone markets, has been appointed as general partner. Amouo previously established his fund in Cameroon, where it effectively supported four companies, three of which are still operational.

    Ahmad highlighted the need to diversify risk due to Nigeria’s economic challenges, stating, “As Nigeria grapples with high inflation, currency devaluation, and slower growth, we decided to leverage the expertise of the founding team to diversify our risk.”

    Sabou Capital has already found 20 interesting startups in its queue and intends to start official fundraising in July.

  • Piggyvest celebrates 9 years of helping Nigerians save and invest

    Piggyvest celebrates 9 years of helping Nigerians save and invest

    Piggyvest, Nigeria’s leading savings and investment platform, marked its ninth anniversary on Thursday. Since its inception in 2016, the platform has transformed the savings culture for millions of Nigerians, helping them to invest and manage their finances.

    Empowering millions through financial discipline

    Founded by Somto Ifezue, Odunayo Eweniyi, and Joshua Chibueze, Piggyvest began as Piggybank.ng with a mission to empower Nigerians to take control of their finances. Over the years, it has evolved into a comprehensive financial ecosystem that offers automated savings tools, investment opportunities, and innovative features like Safelock and Target Savings. These tools enable users to save towards specific goals while earning competitive interest rates.

    As Piggyvest celebrates this milestone, its founders expressed gratitude to users in a heartfelt message shared across social media, stating, “From the very first person who trusted us with their money to the millions of you who now call Piggyvest home, you have been at the centre of this journey,” they said.

    Since its launch, the platform has grown to serve over 5 million users and has disbursed over N2 trillion. In 2024 alone, Piggyvest paid N835 billion to customers while processing over N1 trillion in transactions through its rebranded social payment platform, PocketApp.

    Innovation drives Piggyvest’s 9-year success

    Piggyvest’s success story is closely tied to its commitment to innovation and user-centric services. The platform introduced features like Flex Naira for flexible savings and Piggyvest Dollar for dollar-denominated savings. These offerings have made financial discipline accessible to young professionals, entrepreneurs, and students across Nigeria.

    CEO Somto Ifezue hinted at more innovations in 2025, including a budgeting feature designed to help users manage daily expenses effectively: “Our customers have complained that their salaries no longer last until the end of the month.

    This year, we plan to roll out an additional feature on PiggyVest to help you manage your day-to-day expenses and ensure your salary lasts until the next payday,” Ifezue shared.

    Piggyvest’s achievements have also contributed significantly to Nigeria’s fintech ecosystem by inspiring a wave of digital savings and investment solutions across Africa. As it enters its tenth year, the company remains committed to driving financial inclusion and freedom for all Nigerians.

  • SecondSTAX, NGX partner to increase African investments

    SecondSTAX, NGX partner to increase African investments

    A historic agreement to bring institutional investment to Nigeria’s capital markets was announced. SecondSTAX, an innovative technology startup, and Nigerian Exchange Limited (NGX) announced a relationship to enable direct investment from African institutional investors into Nigeria’s vibrant capital markets using a complex yet user-friendly digital platform.

    This project also involves Afrinvest (West Africa) Limited, a Nigerian capital market powerhouse competent in investment banking, securities trading, and asset management.

    Read also: SecondSTAX Partners with Ghana Stock Exchange, Nairobi Securities Exchange

    Bridging African Investment Gaps

    Nigeria has the biggest economy in Africa, so its capital markets have long been good places to invest. In 2020, Lagos’s stock market went up 50%, making it the best in the world and the best of Bloomberg’s 93 stock indices. Several companies on the stock market saw gains of 400%.

    Because African exchanges were segregated, these business opportunities were only open to Nigerians. SecondSTAX’s technology links Africa’s debt and equity capital markets and makes it easier for institutions and capital to spend.

    A Tech-Driven Approach to Investment

    SecondSTAX’s transparent, cloud-based interface simplifies Nigerian investments for institutional investors like licensed broker-dealers, asset managers, and large commercial banks. It also allows investing in native currencies, increasing asset accessibility and African wealth development.

    Eugene Tawiah, CEO and co-founder of SecondSTAX says, “We want to connect all of Africa’s capital markets so that investment flows more smoothly.” He says the relationship with NGX is significant for them to find profitable opportunities in Nigeria’s capital markets, which are usually out of reach for institutional investors outside Nigeria.

    Ghana’s SecondSTAX Raises $1.6M in Funding

    Creating more investment opportunities 

    SecondSTAX already works well with the Nairobi Securities Exchange (NSE) and the Ghana Stock Exchange (GSE). They not only bring money to these exchanges, but they also make sure that Nigerian institutional investors can diversify their portfolios by investing in other capital markets on their platform.

    After the launch, the services will first be available to Qualified Institutional Investors who place a trade order worth at least USD 10,000.00. This limit will eventually be lowered, allowing more customers to use the services.

    Temi Popoola, CEO of NGX, praises SecondSTAX for their innovative approach to attracting institutional investments across Africa. This method aligns with NGX’s efforts to promote growth and innovation in the market through several different programs.

    Ike Chioke, Group Managing Director of Afrinvest, is also excited about the partnership. He says it could make it easier to spend and bring more money into Nigeria’s capital markets.

  • E Squared investments partner 4DX ventures in pre-seed investment round

    E Squared investments partner 4DX ventures in pre-seed investment round

    Impact investor E Squared Investments has joined 4DX Ventures in a pre-seed expansion investment round for Zoie Health.

    Roche reports that 90% of healthcare decisions are made by women, yet few resources help working-class young women, pregnant women, and moms manage their healthcare. 

    These services are often (1) too expensive (private sector), (2) low-quality (public sector), (3) fragmented, or (4) inefficient with no clear focus.

    Read also: Global Startup Ecosystem estimates Lagos technology sector at $8.4billion

    Zoie Health offers women’s healthcare

    Zoie Health is a platform for women’s health services that focuses on women’s health as a whole.

    It has a community of users and experts who have been using it for a while. The platform offers virtual consults, consults at home, medication subscriptions, tools, and a community of women who can help each other through health seasons.

    With the money, Zoie Health plans to grow Africa’s first digital women’s health clinic by adding more products and spreading to more countries on the continent.

    “Not only do the people who started Zoie Health have a lot of experience in this field, but it’s also very important that the whole team is run by black women. This strong team is building a high-impact tech solution that we think will be a great addition to our group of companies in terms of how well it fits with our values and how much money it will bring in. ” 

    The deal is an extension of E Squared’s initial funding and helps entrepreneurs through the E Squared Pathways facility,” says Gladwyn Leeuw, E Squared’s Chief Investment Officer.

    Leeuw says, “Through this deal, we hope to support digital innovation in women’s health care and give working-class women access to quality, affordable health care.” We think that the digital part will make services that have been hard to get to in the past easier to get to and give an option to people who can’t afford to miss work or stand in long lines at government clinics or who can’t afford private healthcare because it’s too expensive.

    Zoie’s low-cost digital solution is used by more than 5,000 people, and 80% of them stay with the service because it uses network effects, relatability, and a sense of belonging well. Even though they are a new business, they have already signed up 50 health practitioners and have 300 more on the way. Their customer satisfaction rating is 9.78 out of 10.

    Thato Schermer, co-founder and CEO of Zoie Health, says, “We think our offering has a lot of potentials to grow, and we will be looking to expand to other African emerging markets in the SADC region, as well as Kenya and Nigeria.”

    This all-in-one solution includes virtual consultations, consultations at home, medicine subscriptions, and real health intervention services like pap smears, pregnancy tests, contraceptives, fertility testing, etc. The offering also includes a chatbot for general advice, care before and after giving birth, care for families and community support groups, and general health add-ons that are geared towards women.

    “It was clear from the start that Zoie Health’s founder, Thato Schermer (nee Mabudusha), a 2015 Allan Grey Orbis Foundation Fellow, would go on to build a business with a big effect.” In 2012 and 2013, Thato won the “Most Entrepreneurial Fellow Award” from the Allan Grey Orbis Foundation, and in 2014, he came in second,” says Sipho Pilime, Search and Pipeline Head at E Squared.

    Vantage, NHED, to Boost Nigerian Health System using AI

    Thato Schermer, Zoie Health’s Founder

    Thato’s desire to improve health care in South Africa and the rest of Africa led her to do a study on unmet health needs and look into how modern approaches could improve health outcomes in Africa while she was working as a management consultant at McKinsey in 2015. Because of this interest, she took on jobs like chief of staff to the CEOs of Life Healthcare (Global) and Discovery Vitality and Global Strategy and Business Development Lead.

    In 2019, Thato pitched E Squared a business idea. At this point, E Squared joined her business effort.

    Thato turned down the full-time accelerator from E Squared because Uber SA gave him a job as a Territory Manager for two years. In 2020, she joined Pathways, a full- and part-time version of the E Squared acceleration scheme that helps Allan Grey founders of new businesses.

    Thato was named one of the Top 200 Young South Africans by the Mail & Guardian, one of the Top 50 Women in STEM by the Inspiring Fifty, and an AWIEF Top Technology Entrepreneur Finalist.

    She started Zoie Health Technologies with Dr. Nonhlanhla Sitole, who has a PhD in Molecular and Cellular Biology and is the Chief Clinical Officer.

    Dr. Nono Simelela, WHO’s Special Advisor to the Director General on Strategic Programmatic Priorities, and Florah Chuene, Lead Engineer, join the team. This black, all-female executive team shares Zoie Health’s mission and brings clinical and technological expertise.

  • MTN Ghana to exceed $1 billion Investment by 2026

    MTN Ghana to exceed $1 billion Investment by 2026

    MTN Ghana CEO Selorm Adadevoh has indicated that the company’s infrastructure investment is on track to surpass its initial target of $1 billion set in 2021. 

    This announcement has sparked hope in the telecommunications industry. During his remarks at a news conference, Adadevoh underlined his conviction that the unit will reach this benchmark by the year 2026.

    The information was published by the Ghana News Agency, which also shared that MTN Ghana expects to commit approximately $650 million this year alone to boost connections throughout the nation. 

    Adadevoh underscored the company’s dedication to enhancing the quality of its products and services as well as the expansion of its network coverage.

    Read also: Tax infraction charges against MTN Ghana amount to $773m

    Remarks from the CEO of MTN Ghana

    The current level of 4G coverage offered by MTN in Ghana is at an outstanding 99.3 percent, while the level of 2G/3G coverage reaches 99.5 percent. Adadevoh provided a summary of the company’s objectives for the upcoming year, saying, 

    ‘We aim to introduce 350 new sites, reaching a total of approximately 1,000 4G sites. Additionally, we have plans for significant infrastructure investments.’

    The Chief Executive Officer also reassured clients that MTN Ghana is committed to offering the highest possible quality of service, saying that, ‘We are striving to deliver a minimum of 5 megabits per second for any 4G transaction. However, we acknowledge that our 3G connections face challenges during peak hours due to high usage, which sometimes results in failed connections.’

    Adadevoh stressed the significance of fibre optic networks for digitalization and revealed that MTN Ghana has already built around 9,000 km of fibre. He also stated that MTN Ghana is now working to expand its fibre network. In addition, the corporation intends to broaden the scope of this network in order to improve connection across the nation.

     

    Plans of MTN Ghana

    MTN Ghana places a high premium on investing in the western part of Ghana in order to lessen the amount of time that its fibre networks are offline and to improve the overall quality of its services. 

    The operator has been confronted with substantial issues as a result of mining activities that have been described as “illegal” and “irresponsible,” which have caused damage to fibre lines. For the sole purpose of resolving these problems, around 35 km of fibre optic cables have been deployed in the western region so far this year.

    MTN Ghana is unwavering in its dedication to the ambitious infrastructure investment plan it has laid out for the country. This plan focuses on delivering dependable connection while also contributing to Ghana’s ongoing digital transformation. The company is well positioned to consolidate its position as a top telecommunications provider in the country, thanks to the positive projections of the CEO and the efforts that are still ongoing.

    MTN Cameroon obtains payment service provider license

    About MTN Ghana

    MTN Ghana is the market leader when it comes to the provision of mobile telecommunications services in Ghana. As of the end of December 2017, the company had more than 17.83 million subscribers and held around 55.09% of the market share. MTN Ghana employs 750 employees.

    MTN was crowned the winner of Ghana’s Speedtest Awards for mobile network speed during the third and fourth quarters of 2021. MTN was able to attain a Speed Score of 12.84, with median download speeds of 8.24 Mbps and median upload speeds of 7.60 Mbps, which allowed them to take home this honour.

    MTN Ghana also provides its valued customers with a selection of interesting products and services, categorised as either postpaid or prepaid, under both types of subscriptions.

  • Kenya based, Raise secures investment from Carta

    Kenya based, Raise secures investment from Carta

    The Kenyan startup Raise, which is an end-to-end fundraising platform, has reportedly received undisclosed but significant funding from Carta. Carta, situated in San Francisco, is a company that specialises in capitalization table management and valuation software.

    Raise was established in 2018 by Marvin Coleby and Eugene Mutai. In 2019, the company released its alpha version, and in June of 2020, it became public.

    Its platform is designed to simplify cap table management for startups and companies operating within the African ecosystem.

    It provides a comprehensive solution for managing shareholding structure, both before and after fundraising, which enables businesses to focus on growth and building a successful future.

    Read also: Proparco invests $5 million in Egypt’s fintech sector

    More On Carta Funding 

    Carta, the largest ownership platform in the world, which is seeking to develop a worldwide stock exchange for private enterprises, has provided Raise with cash. This enables Raise to continue its work. Carta has successfully funded $1.2 billion dollars and grown to include two million shareholders, US$2.5 trillion dollars in assets, 35,000 enterprises onboarded, and is continuously making acquisitions and investments into ownership products that are analogous to those in strategic markets all over the world.

    “Ever since the Carta strategy team became a part of our cap table, we have been collaborating extremely closely with them to figure out how to provide the most positive customer experiences possible in the African technology industry. Podcasts and mentorship from Carta’s growth, content, sales, finance, and engineering teams all the way up to the C-suite and management-level teams have been invaluable sources of information for us as we work to expand our knowledge. Coleby claimed that they believed they could learn how to apply what they had learned at Carta to establish Africa’s largest ownership platform because Carta is the best at what they do.

    “We are still in the process of determining what product-market fit would look like in African technology. We’ve investigated a wide variety of possibilities with the Carta team, and we’re going to possibly post some polls on Twitter so that you can tell us what kind of product you want us to develop.

    In the meantime, customers of Raise should expect the company to soon launch new liquidity products and experiments with African currency settlements, syncing with syndicate platforms across the ecosystem to invest directly into equity structures and cap tables, integrated market data from the tech ecosystem, and a relaunch of its electronic shares product.

    In addition, Raise intends to leverage Carta’s application programming interface (API) and the open cap table standard it is currently developing to give consumers with ownership, equity, and security experiences of the highest calibre. Customers who already use Carta and shareholders in the company have the ability to seamlessly connect their shares with Raise, where they can also perform health checks based on African legislation and macroeconomic trends.

    Nigeria remains leader in venture Innovation, Investments

    About Raise

    Raise is a tool that was developed to make the management of cap tables for startups and companies working within the African ecosystem easier. They offer a comprehensive solution for managing shareholding structure, both before and after fundraising, which enables businesses to concentrate on expanding their operations and establishing a prosperous future for themselves.

  • African Energy Chamber (AEC) of Commerce request Investment in Energy

    African Energy Chamber (AEC) of Commerce request Investment in Energy

    The African Energy Chamber (AEC), which represents the African energy sector, will host a special New Year reception at the Waldorf Hilton luxury hotel in London on January 26, 2023. People who go to this event will be inspired to look for new ways to fund energy projects on the African continent. 

    The event is part of the African Energy Chamber (AEC)’s annual New Year celebration. During the event, investors and leaders in the African energy sector will have a chance to show their support for energy projects that help the economy grow, and people get ahead across the African continent.

    The AEC’s Invest in African Energy Reception Event will focus on building an oil and natural gas market in Africa. This market will be the foundation of the continent’s energy industry and transition, creating a platform for strong domestic trading and investment while lowering the barriers to entry into the sector and bringing in a wave of new investment. 

    This will be done while keeping the business environment for international companies and investors in Africa’s growing energy industry focused on getting things done. The Invest in African Energy Reception Event will take place in November.

    NJ Ayuk, the Executive Chairman of the AEC, said, “African countries need to focus on building a natural gas market, which will be the basis of the energy industry on the continent.” 

    He goes on to say, “Africa won’t be able to meet the UN’s sustainable development goals unless it uses all of its resources. This is why we need to encourage and help facilitate international investment in oil and gas, especially from Europe, so that Africa can take part in the global energy transition in a fair and cost-effective way and drive socioeconomic development across the continent.”

    Read also: USAID Will Electrify 10,000 African Health Facilities With Renewable Energy

    The efforts of AEC and the need to invest

    African Energy Reception will allow investors to learn about various initiatives, such as gas-to-power and renewable energy developments, as well as oil and natural gas exploration and production opportunities through strategic partnerships and trade. The AEC is advancing a bold agenda for the African energy sector.

    Investing in African Energy Reception will provide investors with information on a variety of initiatives, including gas-to-power and renewable energy developments, as well as oil and natural gas exploration and production opportunities.

    This is because the African continent is trying to help 600 million people who don’t have enough access to reliable and cheap electricity and 900 million people who don’t have access to affordable clean cooking solutions get out of energy poverty.

    Investing in African energy reception The reception will provide an opportunity for investors to explore various initiatives.

    As a result of the COVID-19 pandemic and Russia’s invasion of Ukraine, gas demand in Europe is expected to rise quickly in the coming years. This puts Africa in a position to take advantage of its many untapped resources and become a major supplier of oil and natural gas.

    This will help keep the world’s energy secure while also allowing the continent to deal with the problems and opportunities it faces.

    Moroccan Numeric Fund II (MNF II) announces new investment fund for Moroccan diaspora

    Expected Outcome of the Event

    The event, which will serve as the first of many energy receptions hosted by the AEC around the world, will take place in London, a city that is home to a large number of investment firms with an emphasis on Africa. 

    The goal of the meeting is to bring together business leaders, investors, and government officials in good faith to promote trade and investment partnerships that work well for everyone.

    The goal of all of these partnerships will be to improve African governance, as well as access to energy, human rights, food and water security, and education.

    Afreximbank, a pan-African trade finance organization, just joined forces with African Energy Week (AEW), Africa’s biggest energy event in 2022. This move is expected to start a new era of deals, local content, and growth in more than one sector. This collaboration was followed by a reception event for one sector.

    Because of the partnership, AEW and Afreximbank will be able to use their investment and value-creation skills together. This will help energy progress in 2022 and beyond.

    This will be done so that the goal of the partnership can be reached, which is to end energy poverty in Africa by 2030. The collaboration also wants to increase the amount of effective energy that will be needed for development.

    At the same time, it wants to show how important it is to balance all types of energy development to make sure there is a fair energy transition and lessen the effects of the global energy crisis.

  • SweepSouth Raises $11M In New Investment Round

    SweepSouth Raises $11M In New Investment Round

    SweepSouth, an on-demand home cleaning and service platform based in Cape Town, has raised a further US$11 million (R200 million) in funding, spearheaded by private equity fund Alitheia IDF. The investment comes nine months after the Egyptian home services platform FilKhedma was bought by the new company. It will allow the company to grow its business and move into new markets.

    The most recent round of funding was SweepSouth’s biggest to date. It came after the company’s value went up a lot. The report claimed that new investors Endeavor Catalyst, Endeavor’s Harvest Fund II, Caruso Ventures, and E4E Africa have committed to taking part in the new round, along with existing investors Naspers Foundry, The Michael and Susan Dell Foundation, and Futuregrowth Asset Management, the report claimed.

    Why did the investors’ investments in SweepSouth 

    The company said in a statement that the most recent round of funding would enable it to “pursue both greenfield expansions and acquisitions across the African continent and beyond,” as well as to “further develop and grow its infrastructure and team in South Africa and roll out new services in existing markets.”

    Read also: Tabby Teams Up With Paymob To Power Growth For Retailers

    In the statement, Pandor said, “We are particularly proud to have raised funding from Alitheia IDF, a female-led fund, and to have included more women investors on the cap table via a female-focused special purpose vehicle during this round.” We are excited about what this means for us going forward and are thrilled to have Polo Leteka from Alitheia IDF join the board. “

    “We are proud to help SweepSouth grow as it expands its platform, which helps domestic workers in Africa, most of whom are women, in their financial and social lives. 

    In the domestic services industry, known for being unregulated and exploitative, SweepSouth’s model solves the problems of independence, security, and increasing income for its service providers, as well as affordability and flexibility for its customers. “AIF’s investment will enable the development of infrastructure and operations that will deliver growth for stakeholders, particularly domestic workers and local tradespeople at the base of the economic pyramid,” says Polo Leteka, principal partner at the Alitheia IDF Fund.

    Alitheia IDF (AIF), a $100 million fund with a focus on women and run by two women-led companies, Alitheia Capital (Lagos, Nigeria) and IDF Capital, is Africa’s first private equity fund with a focus on women and run by women. IDF Capital and Alitheia Capital are headquartered in Johannesburg, South Africa, and Lagos, Nigeria.

    The fund is meant for small and medium-sized enterprises (SMEs) in six different African countries: Nigeria, South Africa, Ghana, Lesotho, Zimbabwe, and Zambia. It then invests in those SMEs, intending to assist them in growing. The fund’s final close will be announced in 2021 and will be Africa’s largest gender-lens private equity fund.

    Vendease Obtains $30 million in equity and debt financing

    About The SweepSouth

    SweepSouth was founded in 2014 by Aisha Pandor and her husband, Alen Ribic, and has a presence in South Africa, Kenya, Nigeria, and Egypt. The SweepSouth report on Pay and Working Conditions for Domestic Workers Across Africa, which shows how hard it is for domestic workers in Africa and asks governments and other groups to do more, is just one example of how SweepSouth is still working to improve the lives of domestic workers. 

  • Africa Managers To Meet For Africa Venture Finance Program

    Africa Managers To Meet For Africa Venture Finance Program

    The Boost Africa Technical Assistance Facility and AfricaGrow Technical Assistance Facility have scheduled next week, September 12-16, to host 40 leading fund managers from select African investment funds for an in-person programme held at the University of Oxford’s Sad Business School.
    The Africa Venture Finance Programme is for VC fund managers who invest in early-stage and growing tech companies in Africa.
    The program aims to discuss how to lead Africa’s exponential growth in the technology venture capital (VC) space and share knowledge.
    The European Union and the Organization of African, Caribbean, and Pacific States pay for the Boost Africa Technical Assistance Facility, which helps partner fund managers and investees improve their core professional and operational skills. AfricaGrow is a fund of funds based in Germany that aims to help SMEs and startups on the African continent.

    Read: Google shortlists 60 African startups for its Black Founders Fund

    The week-long course will focus on sharing best practices and peer-to-peer knowledge, as well as giving cutting-edge insights and learning opportunities in all relevant areas of fund management.

    Fund managers from AfricInvest, Knife Capital, TLcom Capital, Ventures Platform Fund, Janngo Capital, Atlantica Ventures, and others will be there to represent a total of 15 funds. Reflecting the industry-wide need for improved women’s inclusion at senior levels, more than half (62 percent) of participant fund managers are women.

    Fund managers will also have the chance to interact with business leaders, industry experts, and representatives from development finance institutions (DFIs) such as the European Investment Bank and DEG Invest.

    Ambroise Fayolle, Vice-President of the European Investment Bank, said, “The EIB is committed to supporting high-impact innovation investment around the world.” We are pleased to support the Boost Africa programme that is sharing investment best practices to strengthen the lasting impact of investment partners across Africa. ”

    EIB Global is a new branch of the EIB Group that focuses on making international partnerships and development finance work better. EIB Global is designed to foster strong, focused partnerships within Team Europe, alongside fellow development finance institutions and civil society. Through our offices across the world, EIB Global brings the Group closer to local people, companies, and institutions through our offices across the world.

    Both AfricaGrow and Boost Africa aim to catalyse the emerging African start-up ecosystem by investing in and supporting VC funds in Africa. This week at the Oxford Sad Business School is quite unique in bringing together 40 of Africa’s most relevant investors and will definitely help in furthering the conversation on how we can ensure the most promising founders on the continent have a fighting chance to start and grow their businesses, “said David van Dijk, team leader at the Boost Africa Technical Assistance Facility.”
    The views expressed may or may not be the same as those of the European Union or the European Investment Bank.

    Read: Are Venture Capitalists interested in African Development?

    The African tech ecosystem has seen staggering growth in recent years, tripling in size from 2020 to USD 5.2 billion in 2021. But the number of African-led start-ups that get significant funding remains in the single digits, which is a shame. In addition to its intrinsic benefits, locally-led leadership is critical in channeling VC investment towards innovations that effectively address challenges faced within and outside Africa. African start-ups have shown that they can be competitive, profitable, and world-class when investors and fund managers who understand their value and growth potential give them help and advice.

    This program seeks to bring together African fund managers at the forefront of the continent’s unique growth trajectory, leveraging their expertise and critical ecosystem stakeholders to usher in the African-led unicorns of tomorrow.

    Aunnie Patton Power, Program Director, Oxford Sad Business School, said, “We are incredibly excited to be convening a group of the leading African Venture Capital funds for this course in Oxford. During the week, participants will engage with global VC experts, Oxford faculty, and most importantly, each other. We are hopeful that the course contributes to the strengthening and connecting of the African VC ecosystem. ”

    Read more Africa Tech News Today

    African start-ups have proven to be competitive and profitable. This program aims to bring together African fund managers at the forefront of the unique growth path of the continent. This program aims to bring together African fund managers at the forefront of the continent’s unique growth trajectory. They will use their own expertise and that of key ecosystem stakeholders to bring about the Africa-led unicorns of the morning.

  • South African Farmers To Experience New Climate Friendly Systems That Boost  Agriculture

    South African Farmers To Experience New Climate Friendly Systems That Boost Agriculture

    A South African provider of sustainable agricultural transformation solutions, LP Agri, hopes to unleash and expand the potential of agriculture in Alexandra. This Agric technology company hopes to achieve this by introducing its incubation training programs and Hydro Coops.

    According to LFP Agri, one of the quickest ways to lift residents of Alexandra township out of poverty and sustainably feed a growing population is to support smallholder farmers to take on a larger role in food production and resource stewardship.

    Commonly called Alex, Alexandra, is a township in the Gauteng province of South Africa. It constitutes part of the City of Johannesburg Metropolitan Municipality and is situated next to the suburb of Sandton, known for its wealthy inhabitants.

    The climate-smart, innovative, and scalable LFP Agri Hydro Coop agriculture system impacts food affordability and security in rural and urban South Africa and Africa. The modular system can raise 1 100 broiler chickens, 3 600 vegetable plants, and an estimated R117 818.16 annual turnover. It is also simple to assemble.

    The Hydro Coop works through the combination of necessary education, incubation, and mentorship and is aligned with 13 of the 17 standard development goals of the United Nations; it aims to reduce poverty, create sustainable jobs, and foster entrepreneurs in the agriculture sector. It consists of a 9-square-metre multifunctional smart farm outfitted with a 40-watt solar panel, a 40-watt submersible pump, a 150-litre water tank, and a water filtration system.

    In addition to the ensuring it aligns with the global SDGs,  the Hydro Coop complies with South African BEE best practices, in terms of business development, skill development, and social and economic development.

    Alexandra township has between 180 000 and 750 000 residents, and thousands rely heavily on agriculture for their livelihoods. In addition to providing for their own families’ financial needs, many full- or part-time farmers also help to end hunger and reduce poverty.

    However, the development of this vital contribution has been hampered, and many farmers have been left vulnerable due to growing land fragmentation, reduced investment assistance, and the marginalization of small farms in Alexandra municipality.

    These frequently overlooked farmers have the ability to start a fresh, sustainable agricultural revolution throughout Alexandra township if given the right enabling circumstances and targeted help.

    According to Louis Pulzone, CEO of LFP Agri, several factors put Alexandra township farmers at risk of poverty.

     

    According to Pulzone,  “Decades of underinvestment in agriculture, increasing competition for land and water, rising fuel and fertiliser costs, and climate change have made it more difficult for farmers in Alexander township to escape poverty,”

    Agriculture investments are the most effective weapons against hunger and poverty. There are enormous opportunities for communities in Alexandra township to sow seeds of change. The required impetus is innovations that can drive agriculture productivity and increase participation.

    The LFP Agri boss added that the company “is positioned to play a pivotal role in developing new model agricultural initiatives, capacity building, and farmer training, enabling farmers to establish smart and traditional agricultural firms, through the implementation of LFP Agri’s Hydro Coop.”

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    Farmers are facing a barrage of challenges daily -Limited land available for agricultural activities, climate change, water shortages, loss of ecosystem services and biodiversity, dramatic increases in the cost of food and farming inputs, and the financial crisis- all of which have a disproportionate impact on impoverished people.

    LFP’s Agri Hydro Coop avails farmers in Alexander township the opportunity to:

    •Grow healthier produce quicker.

    •Eliminate fertiliser burn (nutrient levels are readily assessed and maintained).

    •There is no need for tilling, mulching, composting, weeding, raking, excavating, or watering.

    •Pesticide utilisation is drastically reduced or eradicated.

    •There is no need to worry about soil conditions or depletion.

    •Less evaporation (water is not sprayed through the air).

    •Completely sustainable cultivation: you can grow in the same spot.

    •Saves space: one square metre can yield enough greens for a household of four.

    •The system produces no waste items.

    •Fewer trips to the store for commercially cultivated supermarket vegetables equals less gas consumed and less packaging discarded, lowering your carbon footprint.

    •Avoid preservatives, artificial ripening agents, irradiated vegetables, and genetically modified organisms (GMOs).

    Pulzone concludes that “history has shown us what’s possible when people can grow enough food. If we want to transform communities in Alexander township, we need to focus on raising agricultural productivity and making agriculture a sustainable business. When we conceived of the Hydro Coop as a method of economic benefit, the goal was to guarantee food and nutrition security, maintain a sustainable income, foster entrepreneurship, and advance development, and that’s exactly what the Hydro Coop is doing.”