Swedfund has announced a significant investment of USD 15 million into TLG Africa Growth Impact Fund II (TLG II) to support the growth of small and medium-sized enterprises (SMEs) across Africa. The investment aims to protect existing jobs and create new ones in businesses that face significant challenges accessing financing. With many SMEs struggling to…
BURN, a leading manufacturer of clean cooking stoves, has secured a significant investment of US$15 million from the European Investment Bank (EIB). This announcement was made during the World Bank/IMF Annual Meetings held in Washington, D.C. The funding will play a crucial role in accelerating BURN’s mission to manufacture and distribute its innovative IoT-enabled ECOA electric cooking appliances, aiming to reach over 1 million households in East Africa.
Colis.ma, a Moroccan cross-border logistics startup, has successfully secured $300,000 in pre-seed funding from Witamax, a private-backed venture capital firm. This financial backing will empower Colis.ma to solidify its presence across Morocco’s five largest regions and expand its operations into six European countries, with plans to further penetrate the West African market. The startup is also eyeing a subsequent fundraising round slated for early 2026, aimed at capturing additional market share within the logistics sector.
Rwanda is set to make a significant leap in its fintech landscape with a planned investment of $200 million in locally based financial technology enterprises between 2024 and 2029. This initiative is part of the Fintech Strategy 2024-2029, recently unveiled by the Ministry of Information and Communications Technology as Innovation. The government’s ambition is clear: to position Rwanda as the leading fintech hub in Africa and among the top 30 globally, climbing from its current ranking of fifth in Africa and 61st worldwide.
Standard Chartered Bank is expanding its suite of foreign currency investment options, offering Kenyan investors more ways to access global markets. With the introduction of new products such as USD Money Market Funds, USD Corporate Bonds, USD Government Bonds, and Signature CIO Funds, the bank is catering to the growing demand for international investment opportunities.
Capital A Investment Bank, formerly known as Securities Africa Kenya Limited, has officially rebranded, marking a significant milestone following its recent investment bank license approval from the Capital Markets Authority (CMA). Previously operating as a stockbroker, the firm has expanded its capabilities to offer specialized investment advisory services. With a wider array of financial instruments such as bonds, equities, Eurobonds, and corporate finance, the bank is set to strengthen its role in the Kenyan financial market.
WellPal, the Egyptian e-commerce platform specializing in health and wellness products, has made a strategic move to Saudi Arabia following a successful investment round secured from an angel investor. Founded in 2019 by Mohamed Ali and Mohamed Tantawy, WellPal is a Flat6Labs portfolio company that has rapidly gained traction in the health tech space. With the relocation to Saudi Arabia, WellPal aims to accelerate its growth and establish itself as the go-to platform for health-conscious consumers across the Kingdom.
The British High Commission has announced a significant investment of Sh390 million for the ‘Strengthening Digital Communities’ project in Busia and Mandera counties. This initiative aims to bridge the digital divide by enhancing access to digital skills and technology, specifically targeting women, young people, senior citizens, and persons with disabilities (PWDs). The funding reflects a commitment to fostering digital inclusion in regions facing considerable challenges related to access and skills.
