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.
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.
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 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.
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.
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.
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.
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.
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 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.
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.
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.
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, 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.
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 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.
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 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 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 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 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.
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, 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 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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