Venture Capital
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Zeepay secures $18 million debt to finance its working capital and drive growth.
Zeepay, a fast-growing player in the digital remittance and mobile money market, has secured $18 million in debt funding, according to a report by Africa Global Funds. The investment, arranged by the South Africa-based financial advisory firm Verdant IMAP, signals strong market confidence in Zeepay’s cross-border payment solutions and growth strategy across Africa. The investment,
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GBHub Africa bets on Greenheart SE to decarbonize agriculture production.
GB Foods’ social impact arm, GBHub Africa, has invested $50,000 in GreenHeart SE, a Ghanaian agritech company that transforms organic biomass waste into carbon-negative agricultural inputs. The investment, structured as a local currency loan with a 5% interest rate in Ghanaian cedis, includes a six-month moratorium and a 60-month repayment period. This funding will enable
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FMCG giant GB Foods taps Innohub’s Nelson Amo to lead GBHub Africa, its $10 million social impact vehicle.
Last year, in our This Week in Ghana newsletter, we reported on a GB Foods job listing that signalled a new growth strategy—investing in startups and SMEs across Africa’s food systems. Now, the cat is out of the bag. The FMCG conglomerate behind popular tomato purée brands Gino and Pomo has appointed Innohub’s Nelson Amo
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StartBank Africa Fund secures $15 million anchor investment from UAE Royal Family Office.
StartBank Africa Fund, an Accra-based venture capital firm, has secured a $15 million commitment from the family office of His Highness Sheikh Ahmed Bin Faisal Al Qassimi. The fund aims to reach the final close of its $35 million inaugural fund by April 2025. StartBank Africa Fund’s focus The sector-agnostic fund will invest $300,000 to
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Oze, the AI-powered digital lending software gets fresh funding from Visa and DEG.
Oze, the AI-powered digital lending software for financial institutions and SMEs, has secured new funding from global payment leader Visa and German development finance institution DEG. Existing investors, including Speedinvest and AfricInvest through its Cathay AfricInvest Innovation Fund, also participated in the round. While the total amount raised was not disclosed, public records indicate that
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Thomas Wiredu joins Wangara Green Ventures as Deputy Managing Director.
Wangara Green Ventures has announced the appointment of Thomas Wiredu as the Deputy Managing Director, effective January 2025. With his extensive experience in portfolio management and enterprise support, Thomas will play a crucial role in driving Wangara’s mission of supporting the growth of small and growing businesses (SGBs), particularly in the green sector. “I am
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Village Capital, FMO and RVO launch a $4 million facility to back early-stage companies in Ghana, Nigeria, and Tanzania.
Village Capital, in partnership with the Dutch Entrepreneurial Development Bank (FMO) and the Netherlands Enterprise Agency (RVO), has launched the Africa Ecosystem Catalysts Facility, a $4 million initiative to support early-stage, impact-driven companies in Ghana, Nigeria, and Tanzania. The facility will collaborate with locally-led Entrepreneur Support Organizations to source, conduct due diligence, and make investment
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Small Foundation launches innovative facilities to provide working capital to African fund managers.
Small Foundation, a family foundation focused on catalyzing and scaling income-generating opportunities for people living in extreme poverty in sub-Saharan Africa, has launched two pilot facilities to provide essential working capital to African fund managers. These initiatives aim to help bridge the significant $330 billion annual SME funding gap across the continent. Emerging fund managers
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This Week in StartupGhana #34: Wami Agro get additional check | Yemaachi gets support for its cancer genomic database | Wi-flix journeys to the East
Hello everyone, Have you ever wondered why Africa’s smallholder farmers remain poor despite feeding the entire continent? The reasons are plenty—ranging from limited access to finance to outdated supply chains. Fortunately, some startups featured in this edition have secured funding to change that. Here are the top headlines: Accelerator 3 Ghana-based startups advance to the
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Wami Agro gets additional funding to boost income of smallholder farmers.
Wami Agro, the Ghana-based agritech company, has secured additional funding from Acumen, a leading global impact investor. Wami Agro addresses the persistent challenges faced by Ghana’s smallholder farmers, who constitute 70% of the agricultural workforce yet struggle with poverty. To bridge this gap, Wami Agro provides an integrated suite of tech-enabled solutions (Wami Market, Wami