Renew Capital has announced the launch of the Renew Venture Lab: The EmFi Series, a new initiative designed to identify and support African tech founders building the next generation of embedded finance and digital financial solutions across the continent. The program was officially unveiled during GITEX Africa, marking a significant step in advancing Africa’s fintech innovation ecosystem.
The Venture Lab is now open for applications, with founders able to apply through the official portal. Early consideration is available for submissions made by April 30, 2026. The program is structured as a competitive virtual experience combining self-paced learning with expert-led live sessions focused on embedded finance, credit modelling, and lending systems.
A key focus of the EmFi Series is addressing Africa’s massive financial inclusion gap, particularly for small and medium-sized enterprises. While SMEs make up approximately 90% of private sector businesses on the continent, most remain excluded from formal financial systems, with less than 20% in sub-Saharan Africa able to access traditional credit facilities.
Renew Capital estimates that this gap represents a $330 billion untapped credit opportunity, highlighting the critical role that technology startups can play in reshaping access to finance. By building digital tools that support SME operations, startups can generate valuable data that improves credit assessment and unlocks new lending opportunities.
Speaking on the initiative, Renew Capital leadership emphasized that Africa’s most important financial transformation is being driven by tech founders rather than traditional banking systems. The program is supported by global partners including Global Affairs Canada, Norad, and Morocco’s Tamwilcom, reinforcing its mission to strengthen innovation, scalability, and impact across Africa’s fintech landscape.
