Progression Capital Africa is an asset management firm based in Nairobi, specializing in private equity investments within the financial services and financial technology sectors across East and Southern Africa. Founded in 2011, the firm focuses on opportunities in countries such as Kenya, Ethiopia, Uganda, Tanzania, Rwanda, Zimbabwe, and Zambia. Progression Capital Africa is known for its commitment to impact investing, particularly through its Progression Eastern African Microfinance Equity Fund. This fund aims to support growth and expansion in the financial services sector, typically investing between USD 2 million and USD 5 million in targeted companies.
EFC Zambia (formerly PFSL) was founded by CARE Zambia, supported by DFID in 1996. Incorporated in 2001 it was registered as a charitable institution and converted to an LLC in 2006 under new microfinance regulation. CARE and DID reached a partnership agreement to raise new capital and bring professional management and technology in 2008 to develop it into a commercially viable MFI.
Microhub Financial Services (PVT) Limited is a greenfield technology-driven non-bank financial institution focused on individual and SME enterprise lending, regulated by the Reserve Bank of Zimbabwe. PEAMEF’s investment is helping the institution to navigate the initial set-up phase, build a top-class local team, integrate efficiency-enhancing technological solutions into its business workflows, kick off the lending operations and catalyse investment in product development and associated value-added services.