Funding
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Akofresh’s CEO named as a 2024 Anzisha Prize winner, securing $10,000 in prize money.
Akofresh’s CEO, Mathias Charles Yabe has been recognized as one of the winners of the prestigious 2024 Anzisha Prize, a leading youth entrepreneurship initiative for entrepreneurs between 15 to 22 years in Africa. Mathias was awarded the prize for job creation through his innovative agribusiness, AkoFresh, which is making a significant impact in Ghana’s agricultural…
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Teachers Fund’s buy-now-pay-later platform Credit Mall launches smartphone financing scheme.
Credit Mall, a subsidiary of the Teachers’ Fund, established to provide consumer credit to members of the Ghana National Association of Teachers (GNAT), has launched a smartphone financing initiative aimed at making smartphones more accessible to Ghanaians. Why This Initiative Matters Despite Ghana’s expanding digital landscape, smartphone accessibility remains a significant challenge. As of 2020,…
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ManoCap Energy secures $20 million to expand its commercial & industrial solar business in West Africa.
The Ghana—and Sierra Leone-based renewable energy investment company ManoCap Energy has secured $20 million in long-term debt financing from the Mirova Gigaton Fund to offer businesses renewable energy solutions. What does ManoCap Energy do? ManoCap Energy is a vertically integrated commercial and industrial independent power producer operating in West Africa. It specializes in replacing diesel…
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Fido secures $10 million from FMO as part of its Series B funding round.
Fido, the digital lender based in Ghana and Uganda, has secured $10 million in equity from FMO’s MASSIF Fund as part of its Series B capital raise. MASSIF is FMO’s financial inclusion fund that supports intermediaries that reach out to MSMEs disproportionately affected by a lack of access to financial services. Bridging Africa’s $331 billion…
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Two Female Emerging Fund Managers, Kristin Wilson and Barbara Ghansah selected for the Obuntu Launchpad Fellowship.
Two Ghana-based emerging fund managers have been selected for the Obuntu Launchpad Fellowship. Obuntu Launchpad Fellowship is dedicated to addressing the unique challenges faced by local Emerging Fund Managers in Africa, enabling them to thrive in Africa’s rapidly evolving VC ecosystem. The 12-month invite-only fellowship provides fellows with knowledge, community, and resources. Meet the Chosen…
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10 agriventures secure $100,000 as finalists of the Tullow AgriVentures Programme.
The Tullow AgriVentures Programme (TAP) has awarded ten promising small and growing agribusinesses $10,000 each to expand their businesses. The program being implemented by Innohub identifies and supports entrepreneurs in setting up and growing their businesses. TAP aims to generate approximately 600 new agriculturally linked ventures and support 30 existing businesses to grow and create…
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Farmio secures funding to scale its climate-smart farming technology and reach more farmers.
Farmio, an agritech that provides mobile greenhouse kits to farmers has secured funding from Standard Chartered Bank’s Women in Tech Financing Facility. Being implemented by Village Capital, the financing vehicle seeks to address the gender financing gap by providing catalytic capital to Standard Chartered Bank’s Women in Tech program alumni. Founded in 2019, Farmio provides…
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Ghana Venture Capital Trust Fund commits GHS 173 million to 5 private equity investors after its recapitalization.
After not undertaking any investments between 2011 – 2015 and 2017 – 2020, the government-backed private equity fund of fund investment vehicle, the Ghana Venture Capital Trust Fund (VCTF) has so far committed GHS 173 million (approx. $11.2 million) to investors after its $40 million recapitalization. In between the fallowing periods, the Fund committed capital…
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Oasis Capital Ghana hits $33.3 million first close for its $100 million Oasis Africa Fund II.
Oasis Capital Ghana, the West Africa-focused growth and venture capital fund manager, has reached the first close of Oasis Africa Fund II at $33.3 million, making it the largest local Ghanaian fund yet. The Accra and Abidjan-based firm hopes to reach a final close of $120 million by the end of June 2025. Oasis Africa…
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Sommalife raises an undisclosed funding round from Wangara Green Ventures
Sommalife, the Wa-based shea-focused agtech platform, has closed an undisclosed funding round from Wangara Green Ventures. Sommalife Limited is rapidly establishing itself as a leader in merging technology, productivity, and environmental sustainability. What problem is Sommalife solving? Over 16 million women in West Africa, particularly Ghana, depend on shea nut production for survival. However, desertification,…