June Industry News

06 Jun 2022


A collection of news across the African private equity and venture capital industry |

HAVAÍC invests US$400000 in Nigeria's retailer, ShopEx

HAVAÍC says it is investing US$400,000 from its US$20 million HAVAÍC Universum Core African Fund. 

Source: Radarr Africa


Betastore gets US$2.5mn to solve stockouts

Betastore eyes Ghana, the DRC and Cameroon markets after raising $2.5 million in pre-series A funding from 500 Global, VestedWorld, ...

Source: TechCrunch


South African calling app start-up Talk360 raises $4m

The seed round of funding was led by leading African venture capital investors Havaíc, 4Di Capital and several prominent fintech angel investors.

Source: Venture Burn


Launch of the new European solidarity financing fund for Africa, FEFISOL II

FEFISOL II is making its first closing at €22.5 million, and a technical assistance package of €1 million from Proparco via FISEA+ with the final objective of raising €6 million. The 2nd closing will be launched in 2023. The first disbursements will be made in July 2022.

Source: EIB


Mauritius-based fintech startup Finclusion Group raises funding from Cairo Angels

Mauritius-based fintech startup Finclusion Group has secured funding from the Cairo Angels Syndicate Fund (CASF), a micro venture capital fund that invests in early-stage startups in the Middle East and Africa.

Source: Disrupt Africa


Spark+ Invests US$4mn in BURN

Spark+ Africa Fund, developed with support from the Clean Cooking Alliance, is a pioneering impact fund investing in access to clean and modern energy solutions for cooking in frontier markets in Africa.

Source: PR Web


Incofin sells its holding in microfinance institution

Incofin Investment Management announced that it has sold the entirety of its stake in a microfinance institution operating in Burkina Faso ...

Source: Africa Capital Digest


Untapped Global raises $10.3mn

Untapped Global has raised a US$10.3 million debt and equity pre-seed round to help it scale its smart asset financing model.

Source: Disrupt Africa


Harith launches US$300mn renewables fund with developer Anergi

South Africa-based Harith General Partners and power developer Anergi Group are seeking outside investors to contribute to the fund, which will invest in both new and brownfield power projects.

Source: African Energy Newsletter


Ghanaian fintech Fido has secured US$30mn in Series A funding led by Fortissimo Capital and Yard Ventures with a view to new products and future expansion.

Ghanaian fintech Fido has raised US$30mn as part of its Series A funding round led by investment firms Fortissimo Capital and Yard Ventures. The investment will support the Accra-based business as it aims to roll out new products and gear towards future expansion throughout Africa.

Source: FinTech



Uganda’s Tugende Closes Pre-Series B Funding

Uganda’s Tugende, a technology-enabled asset finance company that provides asset financing and digital services to small businesses has announced it has raised a pre-Series B investment round led by current shareholder Partech Africa.

Source: The Kenyan Wall Street


EEGF invests in commercial and industrial-focused company Candi Solar

EEGF invests in commercial and industrial-focused company Candi Solar
The Energy Entrepreneurs Growth Fund (EEGF) has recently invested in Candi Solar, a visionary solar energy and clean energy financier for commercial and industrial (C&I) businesses in South Africa and India.

Source: Triple Jump


South Africa: Peter Thiel participates in Zenysis’ $13m funding round

Zenysis will deploy its new investment capital toward building partnerships with governments and local institutions in Africa, Asia and South America

Source: Tech Economy 


IFC Invests in BOCOM Petroleum to Improve Access to Cleaner Cooking Fuel Across Cameroon

To boost access to cleaner and more reliable cooking fuel in Cameroon, especially for the country's underserved rural households, IFC today announced a partnership with BOCOM Petroleum SA (BOCOM), a leading Cameroonian importer and distributor of petroleum products.

Source: IFC


BLOC Smart Africa invests US$360,000mn in Afrikamart, a Senegalese leading agritech start-up

 Afrikamart, the leading agritech West African start-up is announcing the closing of a USD$850,000 seed round of financing from leading venture capital groups including the BLOC Smart Africa fund managed by Bamboo Capital Partners, Orange Ventures, Launch Africa and Teranga Capital.

Source: Smart Africa, Bamboo Capital Partners 


Mirova Announces the Acquisition of SunFunder

Mirova announces the acquisition of SunFunder, a specialist in emerging market clean energy and climate investment, and accelerates its ambition to become a global leader in impact investing.

Source: Natixis

Sava, a spend management platform for African businesses, gets $2M pre-seed backing

When Yoeal Haile started Aspira, a lending service, in 2017, he wanted to give Kenyans more choice about buying stuff on credit. The business eventually grew to a point where it offered over $1 million in loans to customers monthly. Still, Haile noticed a bigger underserved opportunity on the other side of the spectrum: small and medium businesses (SMBs).

Source: Yahoo! News


T40 Secures Pre-Seed Funding to Re-Invent Africa's Inter-City Transportation and Logistics

 T40 Technologies, a tech startup transforming Nigeria's intercity transport and logistics industry, has secured a pre-seed funding round. Led by its CEO, Folarin Olulana, the company has built a cloud-based transport and logistics operating system built for intercity service providers.

Source: Yahoo! Finance