Mobile games publisher Carry1st raises US$20m to scale interactive content across Africa

SOUTH AFRICA – Carry1st, a South African publisher of social games and interactive content across Africa, has raised a US$20 million Series A extension led by Andreessen Horowitz (a16z). This is a16z’s first investment in an Africa-headquartered company – the firm has previously invested in Branch and Zipline, companies with some of its operations in Africa but headquartered in the United States.…

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Kenya’s Poa Internet closes US$28m financing round to expand its offerings

KENYA – New generation internet service provider Poa Internet and Africa50, an Investment Bank for Infrastructure in Africa, have announced the completion of the latter’s equity investment into Poa. This funding is part of the US$28 million financing round led by Africa50, which will be used to support the company’s future growth plans across Kenya, as well as launch the business into further…

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Fintech Zanifu gets US$1m funding to bridge MSME financing gap, eyes Ghana, Uganda expansion

KENYA – Zanifu, a Kenyan fintech is set to upgrade its platform and grow the number of micro, small and medium enterprises (MSMEs) it extends stock-financing to after securing US$1 million in Seed funding, reports Tech Crunch. Saviu Ventures, which invested in the start-up’s pre-seed round in early 2020, Launch Africa Ventures, Sayani Investments and a number of angel investors from…

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E-commerce firm Copia raises US$50m to ramp up African expansion

KENYA – B2C e-commerce company Copia Global has raised US$50 million in a Series C equity round led by Goodwell Investments, coming three years after its Series B round of US$26 million The new financing round welcomed new investors such as Zebu Investment Partners, the U.S. International Development Finance Corporation (DFC), and Koa Labs, as well as past investors Lightrock, German development…

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Startup Lipa Later secures US$12m funding to expand across Africa

KENYA – Lipa Later, one of its kind buy-now-pay-later (BNPL) company operating in Kenya, Rwanda, Uganda, and Nigeria, has raised US$12 million from a consortium of investors. The funding, which is a mix of equity and debt, will help Lipa Later expand within its current markets (Kenya, Uganda, Rwanda) and into new markets such as Nigeria, Ghana and Tanzania. It…

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Property developer Centum RE secures US$150m investment from GEM Global Yield

KENYA – Centum Real Estate Limited, a wholly-owned subsidiary of Centum Investment company, has signed an agreement with GEM Global yield, the Luxembourg-based private alternative investment group, to provide Centum Real Estate with a share subscription facility of up to Shs17 billion  (US$150 million) for a 36-month term. Global Emerging Markets (GEM) is a US$3.4 billion alternative investment group with…

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BHP Group back in Africa with US$40m Tanzania nickel investment

TANZANIA – Diversified major BHP will make a US$90-million investment into private firm Kabanga Nickel to accelerate the development of the Kabanga nickel project in Tanzania, the first new bet by the world’s biggest miner in Africa in years, reports Mining Weekly. Kabanga Nickel announced an initial US$40 million investment by the miner, which will convert into an 8.9% equity stake…

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Mozambique’s first solar-plus-storage project reaches financial close

MOZAMBIQUE – The Cuamba solar-plus-storage project in Mozambique being developed by African-focused independent power company Globeleq and its project partners, Source Energia, a Lusophone Africa energy developer, and Electricidade de Moçambique (EDM), the Mozambican national power utility has reached financial close. The project will consist of a 19MWp (15MWac) solar plant, plus a 2MW (7MWh) energy storage system.  “With the ongoing challenges due to…

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Kenyan tech startup Wowzi raises US$3.2m for expansion across Africa

KENYA – Tech startup Wowzi has raised US$2 million in seed funding to expand its digital marketplace across Africa. The round was led by 4DX Ventures with participation from To.org, Golden Palm Investments, LoftyInc Capital, Afropreneur Angels, and Future Africa. Other participants in the round included Andela co-founder Christina Sass, and former Andela executives Jessica Chervin, Justin Ziegler, as well as Johnny Falla,…

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Renewables investor Revego secures US$20m from UK Climate Investments

SOUTH AFRICA – Renewable energy investor, Revego Africa Energy Limited, has secured £15 million (approximately US$20 million)) of follow-on funding from the UK Climate Investments (UKCI), a joint venture between Macquarie’s Green Investment Group, and the UK Government’s Department for Business, Energy, and Industrial Strategy. The investment, according to UKCI is to support Revego’s long-term growth and mobilize further private…

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