International Finance Corporation

International Finance Corporation (IFC), established in 1956 and headquartered in Washington, District of Columbia, is the private equity and venture capital arm of The World Bank Group. It focuses on fostering sustainable economic growth in developing countries by financing private sector investments and mobilizing capital in international financial markets. IFC provides a wide range of financial products, including loans, equity, quasi-equity, and advisory services, targeting sectors such as agriculture, forestry, financial services, education, healthcare, infrastructure, manufacturing, retail, tourism, and technology. The organization aims to support businesses and financial institutions in emerging markets to create jobs, improve corporate governance, and enhance environmental performance. IFC typically invests between $1 million and $100 million, often taking minority stakes but preferring majority ownership in its portfolio companies. It does not engage directly in the management of its investments and usually exits through domestic stock markets or other arrangements after several years. By focusing on initiatives that benefit underserved communities, IFC contributes to local economic development and improves the quality of life for people in developing regions.

Wale Ayeni

Acting Global Head, Disruptive Technologies and Venture Capital Investments

Paulo De Bolle

Global Director

Andi Dervishi

Chief Investment Officer and Global Head, Fintech, ePayments and New Finance

Makhtar Diop

Managing Director

Imad N. Fakhoury

IFC Regional Director South Asia

Allen Forlemu

Regional Industry Director

Mary Porter Peschka

Director

Leila Search

Investment Professional

Oumar Seydi

IFC Regional Director, Africa

Past deals in Africa

M-Kopa

Debt Financing in 2023
M-Kopa Kenya Limited is a leading provider of solar home systems, specializing in pay-as-you-go energy services for off-grid customers. Founded in 2011 and based in Nairobi, Kenya, M-Kopa began commercial operations in 2012 and has since expanded its reach to Uganda and Tanzania. The company offers a range of solar products, including systems that provide lighting, phone charging, and solar-powered radios, which are sold through over 1,000 retail agents and shops. M-Kopa utilizes a proprietary technology platform that integrates mobile payments and IoT connectivity, allowing customers without credit histories to access essential products and services. With a dedicated team of over 500 staff, the company is committed to delivering innovative solutions that meet the needs of underserved communities, continually improving its offerings through data-driven insights and customer relationship management.

Avenue Group

Debt Financing in 2023
The Avenue Group is a healthcare provider based in Nairobi, Kenya, focused on delivering high-quality, affordable, and accessible medical services. The organization encompasses several entities, including Avenue Hospital, Avenue Healthcare, Avenue Homecare, and Avenue Rescue Services. Collectively, these facilities offer a range of services, such as home care, rescue operations, managed care, dental services, laboratory testing, physiotherapy, and both medical and surgical treatments. Through its various offerings, the Avenue Group aims to meet the diverse healthcare needs of the community it serves.

Westfalia Fruit

Debt Financing in 2023
Westfalia Fruit is a multinational supplier of fresh fruit and related processed​ products to international markets. Part of the Hans Merensky Holdings Group, Westfalia grows, sources and ripens, packs, processes and markets sustainably-grown avocados year round. Its vertically-integrated supply chain enables Westfalia to market quality fruit from across the globe.

WIOCC

Venture Round in 2022
WIOCC specializes in high-capacity connectivity solutions, linking Africa with global financial and commercial centers. Recognized as a key player in the wholesale market, it caters to carriers, mobile operators, and internet service providers by offering customized bandwidth packages tailored to meet diverse customer needs. With a comprehensive range of services, including global connectivity, carrier IP transit, and colocation, WIOCC ensures built-in redundancy in its network, safeguarding traffic and enhancing reliability. Operating across more than 30 African countries, the company positions itself as a pivotal provider of managed connectivity services for cloud operators and content providers, effectively supporting the growing demand for fixed and mobile broadband in Africa's evolving markets.

Wave

Debt Financing in 2022
Wave Mobile Money is a financial technology company focused on providing app-based solutions for saving, transferring, and borrowing money in Africa. With a mission to create the first cashless continent, Wave aims to address the challenge of limited access to banking services, as less than 10% of the African population has a bank account. The company is developing an inclusive financial network that offers no account fees and allows for instant transactions, making it accessible to a broader audience. By leveraging technology, Wave is creating affordable financial services that enable individuals to manage their money effectively, thereby fostering economic empowerment and contributing to poverty alleviation. Its platform supports various services, including deposits, withdrawals, bill payments, and money transfers, facilitating cashless transactions for users and businesses alike.

Gozem

Venture Round in 2022
Gozem is a transport technology platform for Francophone West and Central Africa.
Equity Bank Kenya is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank by the central bank of Kenya, the central bank, and national banking regulator. Equity Bank Kenya Limited was incorporated in 2014 as a result of the corporate restructure of Equity Group Holdings Limited.

Brimore

Series A in 2022
Brimore Holding B.V. operates an online retail and distribution platform that specializes in fast-moving consumer goods (FMCG). Founded in 2017 and headquartered in Cairo, Egypt, the company provides a wide range of products, including detergents, perfumes, skincare items, canned food, clothing for men, women, and children, as well as personal care and home care products. Brimore connects manufacturers with customers, facilitating access to various goods in emerging markets. Its offerings also include food and beverage, wellness products, and textiles, catering to diverse consumer needs.

Kobo360

Series B in 2021
Kobo360 is a digital logistics platform that connects cargo owners, truck operators, and drivers to streamline the supply chain process. Founded in 2017 and headquartered in Lagos, Nigeria, the platform utilizes data analytics and artificial intelligence to enhance efficiency in logistics operations, particularly in last-mile delivery. Kobo360 aims to reduce communication gaps and optimize pick-ups and deliveries, ensuring goods are moved seamlessly across the continent. The company also supports rural farmers by minimizing farm wastages, thereby enabling them to access new markets and increase their earnings. In addition to its logistics services, Kobo360 plans to establish a marketplace to link farmers directly with buyers globally, which will help eliminate intermediaries and improve profitability for smallholder farmers. Ultimately, Kobo360 seeks to build a comprehensive logistics ecosystem that enhances trade and commerce in Africa and emerging markets.

TradeDepot

Series B in 2021
TradeDepot Inc. develops a SaaS platform for FMCG distribution in Africa. It enables predictive trade intelligence to leapfrog the competition, real-time access to distributors' stock levels, receive bulk orders online, and auto-generate sales promotions to boost sales. It helps to connects with distributors, wholesalers and retailers online, on one platform. The company was founded in 2016 and is based in Lagos, Nigeria with additional office in Wilmington, Delaware.

WIOCC

Debt Financing in 2021
WIOCC specializes in high-capacity connectivity solutions, linking Africa with global financial and commercial centers. Recognized as a key player in the wholesale market, it caters to carriers, mobile operators, and internet service providers by offering customized bandwidth packages tailored to meet diverse customer needs. With a comprehensive range of services, including global connectivity, carrier IP transit, and colocation, WIOCC ensures built-in redundancy in its network, safeguarding traffic and enhancing reliability. Operating across more than 30 African countries, the company positions itself as a pivotal provider of managed connectivity services for cloud operators and content providers, effectively supporting the growing demand for fixed and mobile broadband in Africa's evolving markets.

Absa group (Bank)

Funding Round in 2021
Absa Group Limited is a prominent financial services provider based in Johannesburg, South Africa, offering a diverse range of products and services both locally and internationally. The company specializes in personal and business banking, corporate and investment banking, as well as wealth and investment management. Its offerings include residential property finance, vehicle and asset finance, credit cards, personal loans, and a variety of insurance products. Absa also provides commercial property finance, agricultural loans, and a suite of transactional banking options, including savings and investment services. Additionally, the bank offers investment banking services, private equity, and corporate banking products, along with life insurance and fiduciary services. Absa's commitment to serving individual, enterprise, and commercial customers is evident through its comprehensive financial solutions, which include treasury services and cash management. The company was previously known as Barclays Africa Group Limited before rebranding to Absa Group Limited in May 2018.

Equity Banque Commerciale du Congo

Debt Financing in 2021
Equity BCDC offers retail, corporate and digital banking services.

Wave

Series A in 2021
Wave Mobile Money is a financial technology company focused on providing app-based solutions for saving, transferring, and borrowing money in Africa. With a mission to create the first cashless continent, Wave aims to address the challenge of limited access to banking services, as less than 10% of the African population has a bank account. The company is developing an inclusive financial network that offers no account fees and allows for instant transactions, making it accessible to a broader audience. By leveraging technology, Wave is creating affordable financial services that enable individuals to manage their money effectively, thereby fostering economic empowerment and contributing to poverty alleviation. Its platform supports various services, including deposits, withdrawals, bill payments, and money transfers, facilitating cashless transactions for users and businesses alike.

MaxAB

Series A in 2021
MaxAB is a B2B e-commerce marketplace based in Cairo, Egypt, that connects food and grocery retailers with suppliers, particularly in underserved areas. Founded in 2018, the company leverages data-driven technologies and advanced supply chain solutions to streamline the food and grocery market. MaxAB aims to empower retailers by providing access to a diverse range of products, premium service, and operational support. Its technology-driven logistics network ensures efficient distribution, delivering the right amount of food to the right locations at the right time, thereby reducing costs and improving the procurement and delivery process for retailers.
Commercial International Bank (CIB), founded in 1975 and headquartered in Giza, Egypt, is a prominent financial services provider that caters to both individual and corporate clients. The bank offers a wide range of products, including deposits, savings accounts, loans, and private banking services, as well as e-banking solutions. CIB is particularly well-known for its corporate banking services, which encompass project finance, debt capital markets, structured products, and various financing options, such as working capital and syndicated loans. With strong brand equity, CIB serves over 500 of Egypt's largest corporations and demonstrates significant potential in the growing retail and SME banking sectors. Over its 40 years of operation, the bank has maintained its position as the most profitable commercial bank in Egypt, thanks to its effective management, high operating standards, and commitment to corporate governance.

MaxAB

Series A in 2021
MaxAB is a B2B e-commerce marketplace based in Cairo, Egypt, that connects food and grocery retailers with suppliers, particularly in underserved areas. Founded in 2018, the company leverages data-driven technologies and advanced supply chain solutions to streamline the food and grocery market. MaxAB aims to empower retailers by providing access to a diverse range of products, premium service, and operational support. Its technology-driven logistics network ensures efficient distribution, delivering the right amount of food to the right locations at the right time, thereby reducing costs and improving the procurement and delivery process for retailers.

Daystar Power

Debt Financing in 2021
Daystar Power specialises in providing solar power and energy efficiency solutions for businesses in the commercial, industrial, and agricultural sectors that result in significant reduction of power costs, diesel consumption and pollution.

MaxAB

Series A in 2021
MaxAB is a B2B e-commerce marketplace based in Cairo, Egypt, that connects food and grocery retailers with suppliers, particularly in underserved areas. Founded in 2018, the company leverages data-driven technologies and advanced supply chain solutions to streamline the food and grocery market. MaxAB aims to empower retailers by providing access to a diverse range of products, premium service, and operational support. Its technology-driven logistics network ensures efficient distribution, delivering the right amount of food to the right locations at the right time, thereby reducing costs and improving the procurement and delivery process for retailers.

OCP S.A.

Debt Financing in 2021
OCP S.A. is a leading producer and exporter of phosphate rock, phosphoric acid, and phosphate-based fertilizers based in Casablanca, Morocco. Established in 1920, the company operates through two primary segments: Northern Axis and Central Axis. Its product range includes phosphate rock for fertilizer and industrial applications, purified and merchant grade phosphoric acid for various industries, and binary fertilizers such as mono-ammonium phosphate, di-ammonium phosphate, and triple super phosphate. Additionally, OCP offers fortified and soluble fertilizers, as well as animal phosphate feed. The company emphasizes sustainable practices to enhance agricultural productivity and soil enrichment. OCP exports its products globally, serving clients across North America, South America, Europe, Africa, India, Asia, and Oceania.

Adumo

Venture Round in 2021
Adumo is a privately held independent payment service provider.

Bolt

Convertible Note in 2021
Bolt Technology OÜ operates a transportation platform that offers ride-hailing, micromobility, and food delivery services. Founded in 2013 and headquartered in Tallinn, Estonia, Bolt provides a smartphone application that enables users to book taxis based on price and quality ratings, track drivers in real-time, and order services without waiting for a dispatcher. The company has expanded rapidly, serving over 50 million customers across more than 40 countries, including regions in Europe, Latin America, and Africa. Bolt aims to reshape urban mobility by promoting a future with reduced car ownership and enhanced flexible transport options, thereby contributing to decreased traffic congestion and pollution in cities.

Liquid Intelligent Technologies

Debt Financing in 2021
Liquid Telecom is an independent data, voice, and IP provider that commits to build a digital future. Liquid Telecom has built Africa’s largest single fibre network, currently stretching over 18,000km across Uganda, Kenya, Rwanda, Zambia, Zimbabwe, Botswana, DRC, Lesotho and South Africa. The award-winning Pan-African fibre network covers Africa’s fastest growing economies, where no fixed network has existed before.

Twiga Foods

Debt Financing in 2020
Twiga Foods Ltd. is a mobile-based supply platform that connects farmers and vendors in Africa's retail sector. Founded in 2013 and headquartered in Nairobi, Kenya, the company serves small and medium-sized retail outlets, kiosks, and market stalls by enabling them to order a variety of fresh produce, including bananas, pineapples, and tomatoes, through a cashless business-to-business platform. By bridging the gap between farmers and vendors, Twiga Foods aims to enhance access to quality food at competitive prices, thereby improving profit margins for both parties. The platform facilitates efficient distribution, making it easier for vendors to stock their businesses with necessary supplies while supporting local agriculture.

Union Bank of Nigeria

Debt Financing in 2020
Union Bank of Nigeria Plc is a full-service commercial bank headquartered in Lagos, Nigeria. Established in 1917, the bank offers a diverse range of banking products and services tailored for individuals, small and medium-sized enterprises, and large corporate clients. Its operations are organized into four primary segments: Retail Banking, Commercial Banking, Corporate Banking, and Treasury. Union Bank provides various financial services, including current and savings accounts, debit cards, and online banking. Additionally, it offers specialized solutions such as loans for SMEs, credit solutions, and services related to account and cash management, trade finance, and agribusiness. With a strong presence in Nigeria and the United Kingdom, Union Bank of Nigeria aims to meet the comprehensive financial needs of its customers.

Equity Group Holdings

Debt Financing in 2020
Equity Bank Kenya is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank by the central bank of Kenya, the central bank, and national banking regulator. Equity Bank Kenya Limited was incorporated in 2014 as a result of the corporate restructure of Equity Group Holdings Limited.

Access Bank

Post in 2020
Access Bank provides banking products and services to individual and business customers in Ghana. It offers standard savings and current, access advantage, solo, and premier accounts. The company also provides online banking services that include ATM, online access, and point-of-sale terminal services; and bills payment and Western Union money transfer services.

NSIA

Debt Financing in 2020
NSIA Participations S.A. is a diversified financial services company based in Abidjan, Ivory Coast, operating since 1995. It engages in insurance, banking, and real estate sectors across Central and West Africa. The company offers a range of life and non-life insurance products, including coverage for automotive, home, property, transport, and personal accidents. In banking, NSIA provides various financial services such as checking and savings accounts, term deposits, loans, and leasing options, alongside services like money transfers, foreign exchange, and asset management. Additionally, NSIA is involved in real estate through land engineering, property development, and homebuilding, offering services related to property management, leasing, and transactions. The company's broad suite of offerings positions it as a key player in the financial landscape of the region.

Zenith Bank

Debt Financing in 2020
Zenith Bank Plc, established in May 1990 and headquartered in Lagos, Nigeria, is a leading commercial bank and the largest in the country by tier-1 capital. It became a public limited company in 2004 and is listed on the Nigerian Stock Exchange. With a shareholder base of approximately one million, Zenith Bank operates over 500 branches across Nigeria. The bank has expanded its presence internationally, with subsidiaries in Ghana, Sierra Leone, and Gambia, as well as a UK subsidiary, Zenith Bank (UK) Limited, which offers various financial services including asset management and trade finance. Zenith Bank also has representative offices in South Africa and China, and it aims to further extend its brand across other African countries and into European and Asian markets.

Grainpulse

Venture Round in 2019
Grainpulse Limited, founded in 2002 and based in Kampala, Uganda, operates as an integrated agribusiness company focused on enhancing food and nutrition security for households. The company provides a variety of agricultural services, including the collection, storage, processing, and loading of coffee, grains, and animal feed, as well as the supply of fertilizer blends. Grainpulse aims to support both smallholder and commercial farmers by offering agro-input materials, agronomy services, and market access, thereby facilitating the formalization and commercialization of sustainable local agriculture. The company's commitment to integrity, customer-centricity, performance, and teamwork underscores its mission to positively impact the lives of farmers in Uganda.

Kobo360

Series A in 2019
Kobo360 is a digital logistics platform that connects cargo owners, truck operators, and drivers to streamline the supply chain process. Founded in 2017 and headquartered in Lagos, Nigeria, the platform utilizes data analytics and artificial intelligence to enhance efficiency in logistics operations, particularly in last-mile delivery. Kobo360 aims to reduce communication gaps and optimize pick-ups and deliveries, ensuring goods are moved seamlessly across the continent. The company also supports rural farmers by minimizing farm wastages, thereby enabling them to access new markets and increase their earnings. In addition to its logistics services, Kobo360 plans to establish a marketplace to link farmers directly with buyers globally, which will help eliminate intermediaries and improve profitability for smallholder farmers. Ultimately, Kobo360 seeks to build a comprehensive logistics ecosystem that enhances trade and commerce in Africa and emerging markets.

Sierra Rutile

Venture Round in 2019
Sierra Rutile is a prominent mineral sands company based in Sierra Leone, specializing in the extraction and production of rutile, zircon, and ilmenite. The company operates several mines across the Bonthe and Moyamba districts in southern Sierra Leone, focusing on expanding its core rutile production significantly. Sierra Rutile's flagship asset features one of the largest natural rutile deposits globally, with a resource exceeding 600 million tonnes. The company produces various grades of rutile, including Standard Grade Rutile and Industrial Grade Rutile, along with high-grade ilmenite and zircon-in-concentrate. Its products are utilized in various industries, including pigments, metal, and welding. A significant portion of Sierra Rutile's revenue comes from markets in Asia, with additional contributions from Europe, America, Africa, and the Middle East.

Lulalend

Series A in 2019
LulaLend is more than a company. It’s a belief in the power of small business, making a difference, building a better solution and striving for excellence. We work hard to empower businesses across South Africa with the funds they need to grow, and we have a great time doing it!

Youspital

Pre Seed Round in 2019
Developer of a digital healthcare platform designed to pre-book medical tests. The company's platform facilitates and automates customer acquisition, booking, onboarding, and payment, enabling hospitals and patients to increase their efficiency and decrease the cost of treatment respectively.

Fawaterak

Pre Seed Round in 2019
Fawaterak, an online payments platform helping small and micro businesses to process all their payments online through integrating local and global payment networks in one dashboard featured by powerful tools for collect payments locally and globally . Powered by A.I Main features: Create and share invoices with his clients instantly, get paid faster online (no App needed for the client). This act increased the payment rate due to easiness and availability. Website & Apps Integration: Ability to integrate merchant website & mobile app with fine-tuned invoicing system, this helped merchants to get paid online from Anywhere Instant payment’s collections: Get paid using credit cards, cash, or wire transfers within seconds. Supported by the local bank of the merchants, and offering recurring payments. A.I Powered: With A.I we are building scoring system which notify and feedback merchants about the best time his customer can pay for him or he can pay or not, also merchant could create an invoice to their clients just by taking a snapshot of printed invoice through our mobile application.

El Zatona

Pre Seed Round in 2019
Developer of a cloud-based retail-management system designed to automate sales. The company's platform offers stock management, sales, purchase tracking and real-time insights, enabling clients to increase business operations efficiency.

Netsahem

Pre Seed Round in 2019
Developer of a digital fundraising platform designed to facilitate electronic donations to non-profit organizations. The company's platform offers an innovative and wide range of e-payment methods to transfer funds, enabling NGOs who operate offline to spread their reach and raise more funds for people in need of help across the Egypt region.

NeQabty

Seed Round in 2019
Developer of a mobile-based financial application designed to provide automated syndicate services. The company's application offers payment of service costs, medical services, and booking events and trips, enabling clients to pay for their medical applications such as prescriptions, renewals, and medical fees.

Yellow Door Energy

Series A in 2019
Yellow Door Energy invests in and operates distributed solar and energy efficiency assets for commercial and industrial customers in the Middle East and Africa. It finances, designs, builds, operates, and maintains the solar plants. The company was founded in 2015 and is based in Dubai, United Arab Emirates with a location in Amman, Jordan.

Kobo360

Seed Round in 2018
Kobo360 is a digital logistics platform that connects cargo owners, truck operators, and drivers to streamline the supply chain process. Founded in 2017 and headquartered in Lagos, Nigeria, the platform utilizes data analytics and artificial intelligence to enhance efficiency in logistics operations, particularly in last-mile delivery. Kobo360 aims to reduce communication gaps and optimize pick-ups and deliveries, ensuring goods are moved seamlessly across the continent. The company also supports rural farmers by minimizing farm wastages, thereby enabling them to access new markets and increase their earnings. In addition to its logistics services, Kobo360 plans to establish a marketplace to link farmers directly with buyers globally, which will help eliminate intermediaries and improve profitability for smallholder farmers. Ultimately, Kobo360 seeks to build a comprehensive logistics ecosystem that enhances trade and commerce in Africa and emerging markets.

Vezeeta

Series C in 2018
Vezeeta is a digital healthcare platform based in Heliopolis, Egypt, that connects patients with healthcare providers across the Middle East and Africa. Founded in 2011, the platform allows patients to search, compare, book, and review healthcare services in countries such as Egypt, Saudi Arabia, Jordan, and Lebanon. With over 200,000 verified reviews, users can quickly find and schedule appointments with doctors, enhancing their access to quality healthcare. Additionally, Vezeeta offers innovative software solutions for healthcare providers, facilitating efficient clinic management and improving the overall patient experience. The platform aims to empower millions of patients by leveraging data to create better healthcare accessibility in the region.

Twiga Foods

Series B in 2018
Twiga Foods Ltd. is a mobile-based supply platform that connects farmers and vendors in Africa's retail sector. Founded in 2013 and headquartered in Nairobi, Kenya, the company serves small and medium-sized retail outlets, kiosks, and market stalls by enabling them to order a variety of fresh produce, including bananas, pineapples, and tomatoes, through a cashless business-to-business platform. By bridging the gap between farmers and vendors, Twiga Foods aims to enhance access to quality food at competitive prices, thereby improving profit margins for both parties. The platform facilitates efficient distribution, making it easier for vendors to stock their businesses with necessary supplies while supporting local agriculture.

Apex International Energy

Private Equity Round in 2018
Apex International Energy Management LLC operates as an oil and gas exploration and production company that focuses on Egypt. It engages in asset acquisitions and capital investments in drilling, infrastructure, and production enhancement to deliver long-term profitable growth in production and reserves. The company was incorporated in 2016 and is based in Houston, Texas with an additional office in Cairo, Egypt.

Twiga Foods

Series B in 2018
Twiga Foods Ltd. is a mobile-based supply platform that connects farmers and vendors in Africa's retail sector. Founded in 2013 and headquartered in Nairobi, Kenya, the company serves small and medium-sized retail outlets, kiosks, and market stalls by enabling them to order a variety of fresh produce, including bananas, pineapples, and tomatoes, through a cashless business-to-business platform. By bridging the gap between farmers and vendors, Twiga Foods aims to enhance access to quality food at competitive prices, thereby improving profit margins for both parties. The platform facilitates efficient distribution, making it easier for vendors to stock their businesses with necessary supplies while supporting local agriculture.

Botswana Building Society

Debt Financing in 2017
BBS is a financial institution whose principal business is residential and commercial property finance. BBS mission is to provide affordable property finance and attractive investment returns through efficient utilization of resources in the spirit of teamwork for the benefit of our stakeholders. Our vision is to be the premier provider of property finance and attractive investment returns in Botswana.

Africa's Talking

Series A in 2017
Africa's Talking Ltd. is an information technology company based in Nairobi, Kenya, founded in 2010 by Eston Kimani and Samuel Gikandi. The firm specializes in providing communication solutions that enhance connectivity across Africa, focusing on mobile messaging services. It offers a range of services including bulk SMS, short codes, premium SMS, USSD, MMS, and customized mobile messaging solutions tailored for individuals, businesses, and developers. The company provides tools such as a mini-API for data access and SMSVoices.com, a platform for sharing information via SMS and online posts. By integrating reliable two-way SMS, voice, and USSD functionality, Africa's Talking enables users to streamline their mobile communication processes, thus supporting a burgeoning entrepreneurial ecosystem across the continent.

CSquared

Venture Round in 2017
CSquared is a company based in Nairobi, Kenya, that specializes in building and operating metro fiber and Wi-Fi networks. Founded in 2013 from Google's Project Link, CSquared aims to assist local Internet service providers and mobile network operators in expanding their reach and improving connectivity for homeowners, small businesses, and mobile users in Uganda and Ghana. By focusing on wholesale broadband infrastructure services, CSquared enables these providers to deliver Wi-Fi and broadband services more efficiently and at lower costs through shared metro fiber infrastructure.

Network International

Venture Round in 2017
Network International is a prominent provider of payment solutions in the Middle East and Africa, established in 1994. The company specializes in delivering a comprehensive suite of technology-enabled services that cater to merchants and financial institutions, including card processing, ATM management, and merchant acquiring. It is recognized for its innovative approach and offers tailored solutions to meet the diverse needs of its clients. As a principal member of Visa and MasterCard in the UAE, Network International has achieved significant certifications, positioning itself as a leading independent vendor in the region. The company's services extend to consultancy for new card products, ensuring clients receive expert guidance in planning and design. By continually evolving its offerings, Network International aims to enhance payment transaction experiences, making them secure, fast, and efficient for all stakeholders involved.

Zoona

Venture Round in 2017
Zoona is a mobile technology company focused on delivering financial services to underserved communities across Africa. It operates an interoperable distribution network that facilitates money transfers, electronic voucher payments, agent payments, savings, credit, and bill payments. By leveraging a network of widespread agents, Zoona aims to provide safe and reliable access to financial services for predominantly unbanked customers, enabling them to participate in the financial system and improve their economic well-being.

Britam

Post in 2017
Britam is a diversified financial services group, listed on the Nairobi Securities Exchange. The group has interests across the Eastern and Southern Africa region. The company offers a wide range of financial products and services in Insurance, Asset management, Banking and Property. The product range includes: life, health and general insurance, pensions, unit trusts, investment planning, wealth management, off-shore investments, retirement planning, discretionary portfolio management, Property development and private Equity.

Mobisol

Series B in 2016
Mobisol GmbH, founded in 2010 and based in Berlin, Germany, specializes in developing and installing solar home systems to provide electricity to underserved low-income customers in developing nations. The company offers solutions that power LED lights, radios, mobile phones, and various household appliances, while also promoting productive use appliances. Mobisol's innovative approach combines solar energy with an affordable mobile payment plan, making it accessible for those living without electricity. The company emphasizes comprehensive customer service and utilizes remote monitoring technology to ensure reliable performance. With additional offices in Tanzania, Rwanda, and Kenya, Mobisol operates as a subsidiary of ENGIE SA, focusing on delivering clean and affordable energy alternatives to fossil fuels.

Haltons Limited

Venture Round in 2016
Haltons Limited operates Haltons Pharmacy, a retail pharmacy chain in Kenya that focuses on providing accessible and affordable pharmacy care. The company is dedicated to delivering high-quality pharmaceutical products, including both prescription and non-prescription medications. Haltons Pharmacy strategically positions its retail outlets in high-traffic residential areas to maximize customer access and cater to the needs of the average Kenyan consumer. Through its network of pharmacies, Haltons Limited aims to ensure that healthcare products are readily available to the community, reflecting its commitment to dignified care.

Flat6labs

Seed Round in 2016
Flat6Labs is a startup accelerator based in Cairo, Egypt, founded in 2011. It focuses on seed-stage investments, providing funding, mentorship, and resources to entrepreneurs in Egypt and the MENA region. Every four months, Flat6Labs selects a cohort of startups to support with seed capital and physical workspace. The accelerator emphasizes hands-on mentorship and educational experiences, often collaborating with the American University in Cairo. Its mission is to immerse entrepreneurs in real-world challenges, fostering an environment that encourages collaboration and value creation. Additionally, Flat6Labs manages early-stage venture capital funds, including partnerships that extend its investment reach into sectors such as transportation, mobile technology, big data, and virtual reality. The organization has expanded its presence with offices in several cities across the MENA region, contributing to the growth of the startup ecosystem in the area.

Remitly

Series C in 2016
Remitly Global, Inc. is a digital remittance company that facilitates international money transfers through its extensive global network, serving regions such as Africa, Asia, Central Europe, and South America. The company offers a mobile payment service that allows users to send money from the United States, Canada, and the United Kingdom using various digital devices. Remitly aims to disrupt the traditional money transfer industry, which is valued at $588 billion annually, by employing advanced technology to streamline the process and reduce fees. As a licensed money transmitter, Remitly operates in 49 states and Washington, D.C., generating revenue primarily from transaction fees and foreign exchange spreads. Founded in 2011 and headquartered in Seattle, Washington, Remitly also maintains offices in London, Manila, and Nicaragua.

Zoona

Series B in 2016
Zoona is a mobile technology company focused on delivering financial services to underserved communities across Africa. It operates an interoperable distribution network that facilitates money transfers, electronic voucher payments, agent payments, savings, credit, and bill payments. By leveraging a network of widespread agents, Zoona aims to provide safe and reliable access to financial services for predominantly unbanked customers, enabling them to participate in the financial system and improve their economic well-being.

ADvTECH

Post in 2016
ADvTECH Limited operates in South Africa, focusing on education, training, and staff placement services. It comprises three main divisions: Schools, Tertiary, and Resourcing. The Schools division delivers pre-primary, primary, and secondary education, while the Tertiary division provides diploma, degree, and postgraduate programs through both face-to-face and distance learning formats. The Resourcing division specializes in staffing solutions, offering permanent, temporary, and contract placements across various sectors, including engineering, finance, and information technology. ADvTECH is headquartered in Sandton and plays a significant role in enhancing human capacity development in the private sector.

Lekela Power

Private Equity Round in 2016
Lekela Power B.V. is a renewable energy generation platform focused on delivering utility-scale wind and solar projects across Africa. Founded in 2015 and headquartered in Amsterdam, the company operates in countries such as Egypt, Ghana, South Africa, and Senegal. Lekela Power develops, constructs, and manages a portfolio of renewable energy projects that supply clean energy to a range of consumers, including government entities, utilities, and large-scale industrial users. By providing secure and reliable renewable energy, Lekela Power aims to support the continent's growth and development while contributing to the transition toward sustainable energy sources. The company operates as a subsidiary of Mainstream Renewable Power Limited.

Hygeia Group

Venture Round in 2016
Hygeia Group, based in Lagos, Nigeria, specializes in integrated healthcare services, managing hospitals and health maintenance organizations (HMOs). Founded in 1986, the company operates its flagship facility, Lagoon Hospital Apapa, along with two additional hospitals located in Ikeja and Victoria Island. Hygeia's hospital services encompass a wide range of specialties, including surgery, cardiology, pediatrics, and critical care, among others. Through its HMO, Hygeia provides managed care to over 400,000 enrollees from more than 250 corporate clients, working with a vast network of over 1,200 healthcare providers nationwide. Additionally, the Hygeia Community Health Plan is a donor-funded initiative designed to enhance healthcare access for low-income groups in Nigeria. As a subsidiary of CIEL Healthcare Ltd, Hygeia Group is committed to delivering comprehensive healthcare solutions to its patients and communities.

Embonds

Series B in 2015
embonds (Emerging Markets Bond Exchange Ltd) is the world’s first electronic trading platform dedicated to trading emerging market bonds. Based in London and with development team located in Istanbul, embonds has started coverage of publicly traded sovereign and corporate fixed income securities in the London timezone covering both domestic and eurobond debt of the countries in Central and Eastern Europe, Middle East and Africa (CEEMEA). In most markets, embonds is able to offer domestic settlement for domestic instruments. embonds offers a transparent, easy to use and easy to access, multi-functional electronic platform. Their aim is to give asset managers, local primary dealers and global banks involved in emerging markets the tightest spreads possible on their trades by pooling liquidity from all participants. What’s more, as liquidity increases, those spreads are bound to narrow further still.

Tiger Resources

Post in 2015
Tiger Resources Ltd is an Australian-based company focused on the discovery, development and exploration of high-grade copper/cobalt deposits in the world-renowned Katanga Copper Belt in the DRC.

Roxgold

Post in 2015
Roxgold Inc. is a Canadian gold mining company focused on acquiring, exploring, and developing mineral properties. The company holds a significant interest in the Yaramoko gold project, located in the Houndé greenstone belt of Burkina Faso, which encompasses approximately 200 square kilometers. Additionally, Roxgold owns the Séguéla gold project in Côte d'Ivoire, comprising 11 mineral exploration permits. The company also explores other properties, including the Houko, Solna, and Boussoura exploration sites in Burkina Faso. Roxgold's primary income is generated from gold sales, and it aims to advance its projects through various stages of development, from exploration to construction and potential disposal. Headquartered in Toronto, Canada, Roxgold is committed to the exploration and evaluation of its mineral assets.

Andela

Series A in 2015
Andela is a global talent network that specializes in recruiting and managing software developers from emerging markets, particularly in Africa. Established in 2014 and headquartered in Lagos, Nigeria, the company provides training and mentorship to prepare developers for roles with companies worldwide. Through its platform, Andela connects leading organizations like GitHub and Cloudflare with highly skilled engineering talent, enabling businesses to scale their teams efficiently and cost-effectively. The company focuses on identifying the top 1% of software developers, fostering a network that empowers developers while facilitating job opportunities. Andela operates as a distributed organization across four continents and has garnered support from notable investors, including Generation Investment Management and the Chan Zuckerberg Initiative.

Embonds

Series A in 2015
embonds (Emerging Markets Bond Exchange Ltd) is the world’s first electronic trading platform dedicated to trading emerging market bonds. Based in London and with development team located in Istanbul, embonds has started coverage of publicly traded sovereign and corporate fixed income securities in the London timezone covering both domestic and eurobond debt of the countries in Central and Eastern Europe, Middle East and Africa (CEEMEA). In most markets, embonds is able to offer domestic settlement for domestic instruments. embonds offers a transparent, easy to use and easy to access, multi-functional electronic platform. Their aim is to give asset managers, local primary dealers and global banks involved in emerging markets the tightest spreads possible on their trades by pooling liquidity from all participants. What’s more, as liquidity increases, those spreads are bound to narrow further still.

ZOLA Electric

Debt Financing in 2015
Zola Electric provides off-grid solar solutions primarily for African markets, focusing on Tanzania, Rwanda, Ghana, and the Ivory Coast. The company offers solar home kits that can be either leased or purchased, utilizing a pay-as-you-go micro-finance model that accommodates various income levels. By employing advanced solar, battery, and power electronics technology, Zola Electric delivers renewable energy systems tailored to the needs of individual households and businesses in rural communities. Since its inception in 2012, the company has powered over 180,000 homes and businesses. Formerly known as Off-Grid Electric Tanzania Limited, it rebranded to Zola Electric in July 2018 and has established its headquarters in Arusha, Tanzania, with an additional office in San Francisco, California. The company has garnered recognition through various awards and has attracted investment from notable firms, including Tesla and EDF.

Helios Towers Africa

Private Equity Round in 2014
Helios Towers Africa has operations in Ghana, Tanzania, the Democratic Republic of Congo and a sister company in Nigeria. The number of mobile subscribers in Africa has increased from just 16 million people in 2000 to over 500 million today. Based on these growth levels and without an increase in the sharing of telecoms tower facilities, the number of towers in Africa will need to double from the current number of 75,000, a significant environmental impact.

Jabi Lake Mall

Venture Round in 2014
Jabi Lake Mall is a prominent retail center located in Abuja, Nigeria, owned and operated by Actis Jabi Lake Mall Development Company Limited. The mall boasts 27,000 square meters of grade-A shopping space, providing a diverse range of shopping experiences for visitors. With its strategic location, Jabi Lake Mall serves as a key destination for both locals and tourists, featuring various retail outlets, dining options, and entertainment facilities. Its modern design and comprehensive amenities contribute to its status as a significant commercial hub in the region.

MIC Global

Venture Round in 2014
MIC Global is a full-stack embedded micro insurance provider purpose-built to transform the insurance industry by reimagining and integrating simple and relevant insurance products that provide protection for people so that they can provide for their families and recover swiftly. We were founded with an aspirational goal to help close the insurance protection gap by providing inclusive and affordable insurance to people and to support them in their time of need.

Seven Energy

Venture Round in 2014
Seven Energy is an indigenous Nigerian oil and gas exploration, development, production and distribution company with a vision to be the leading supplier of gas to the domestic market for power generation and industrial consumption. Our objective is to exploit first mover advantage as a supplier to the domestic gas market in our core operating areas and to maximise shareholder value through sustainable long-term growth across the full value chain. Our business model is designed to capture the full value chain from upstream appraisal, development and production, to ownership of processing and distribution infrastructure and marketing to end users. This model is supported by an experienced management team, high standards of corporate governance and social responsibility and underpinned by a robust capital structure. Headquartered in Lagos and London, Seven Energy has an upstream reserves and resources base of in excess of 350 MMboe, midstream processing and distribution capacity of 200 MMcfpd and long-term gas sales agreements in place to supply over 1 Tcf of gas to the domestic market. In Nigeria, Seven Energy operates through its wholly-owned and principal subsidiaries, Septa Energy Nigeria and Accugas.

AB Microfinance Bank Nigeria

Debt Financing in 2014
AB Microfinance Bank Nigeria Limited is a foreign-owned financial institution located in Lagos, Nigeria, established in 2008. The bank specializes in providing a range of financial products and services tailored for micro, small, and medium-sized enterprises (MSMEs) as well as clients within the lower income bracket. Its offerings include savings, current, and term deposit accounts, along with a diverse lending portfolio that features micro, small, and medium enterprise loans. As a subsidiary of Access Microfinance Holding AG, AB Microfinance Bank aims to support the financial needs of its customers by fostering economic development in Nigeria.
Bridge International Academies operates primary schools focused on providing education to underprivileged children. Founded in 2007 and based in Nairobi, Kenya, the organization offers services that align with national curricula and emphasizes comprehensive teacher training and development programs. Utilizing advanced wireless technology, Bridge International Academies aims to deliver quality education at no cost to students, fostering opportunities for a brighter future for those in underserved communities.

eleni

Venture Round in 2013
eleni LLC is a developer of commodity exchange platforms, focused on transforming markets in frontier regions of Africa. Based in Nairobi, Kenya, the company specializes in building end-to-end exchange ecosystems that significantly impact the livelihoods of rural communities. It offers a comprehensive technology suite that includes various business applications for commodity markets, alongside essential services for implementing exchange projects. These services encompass legal and regulatory frameworks, warehouse receipt systems, electronic central depositories, automated clearinghouses, trade matching, and real-time mobile market data. Additionally, eleni manages logistics for delivery, membership, training, and certification, while ensuring market surveillance, compliance enforcement, and risk management. Through its initiatives, eleni aims to enhance accessibility to commodity exchanges, ultimately improving the economic conditions for millions in rural areas.

Tigo

Venture Round in 2005
Tigo is an international telecommunications and media company headquartered in Accra, Ghana. It provides a range of services including cable, satellite, broadband, and e-commerce solutions. With a global presence, Tigo aims to deliver diverse media offerings to its customers, enhancing connectivity and access to information across various markets.

WaterHealth International

Series B in 2004
WaterHealth International, Inc. is dedicated to providing safe and affordable drinking water to millions globally. Operating primarily under the dr. water brand, the company utilizes a sustainable for-profit model to deliver purified water through various channels, including vending kiosks, delivery vehicles, and community water systems. With over 500 such systems established, WaterHealth has significantly impacted the clean water sector, particularly in India. The company also offers remediation and treatment solutions tailored for domestic, commercial, and industrial clients, ensuring that local water resources meet World Health Organization quality standards. Founded in 1995, WaterHealth International is headquartered in Irvine, California, with additional offices in Hyderabad, India; Accra, Ghana; and Ikeja, Nigeria.

NOVICA

Series A in 2003
NOVICA United, Inc. is an e-commerce company based in Los Angeles, California, that specializes in providing a wide range of handmade accessories for both men and women. Established in 1998, the company collaborates with artisans from various countries, including Brazil, Peru, Mexico, Ghana, Indonesia, Thailand, India, and Guatemala, to offer over 30,000 unique and limited edition products daily. Their product line includes women's accessories such as shawls, scarves, hats, gloves, and travel accessories, as well as men's items like cufflinks, wallets, and walking sticks. NOVICA aims to empower global artisans, connect consumers with their creations, and preserve traditional artistic practices for future generations.
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