WeeTracker

Norfund is now a Limited Partner in Inside Equity Fund II (IEF II), pushing the fund’s total size to USD 62 M. This fund, managed by Inside Capital Partners, is all about backing high-potential SMEs in Southeast Africa. It aims to fuel growth, job creation, clean energy, waste reduction, and gender equality in markets that need it most. With a 10-year investment horizon, IEF II is set to invest in 12 companies, starting in Madagascar, Zambia, and Mauritius, with eyes on Mozambique and Tanzania. Norfund’s USD 7.5 M investment follows IEF II’s first close at USD 55 M, already backed by DGGF, Terra Mauricia, DFC, IFC, Swedfund, MIC Ltd, and BIO. This is the next step in a journey that started with Inside Capital’s first fund (IEF I), which invested USD 35 M into six game-changing businesses in waste recycling, renewable energy, packaging, building materials, and hospitality. Now, with Norfund on board, IEF II has even more firepower to bridge the financing gap and unlock new opportunities for SMEs shaping the future of Africa’s economy. #InsideCapital #Norfund #PrivateEquity #SMEGrowth #EmergingMarkets https://lnkd.in/gZ9mTt4K

Alitheia Capital & Goodwell Exit Baobab Nigeria Alitheia Capital and Goodwell Investmentshave exited Baobab Nigeria, transferring their stake to its international parent company, Baobab Group after more than a decade of partnership. This comes more than 12 years after investing in Baobab Nigeria (first via their GWAMDC fund and later uMunthu) What started as a small microfinance institution has grown into a powerhouse, with Baobab Nigeria now serving 230,000 customers across 16 states through 38 branches. With investments focused on financial inclusion, Alitheia and Goodwell played a key role in scaling Baobab’s reach, strengthening governance, and deepening access to capital for micro and small businesses. The exit delivered a 3x return and contributed to uMunthu’s internal rate of return of 39.3%. The exit reflects the growing maturity of Africa’s financial sector, where impact-driven investments can generate both strong returns and long-term social change. Now fully under the Baobab Group, the institution is poised for further expansion, continuing to empower entrepreneurs and underserved communities across Nigeria. #Nigeria #FinancialInclusion #ImpactInvesting #AfricaFinance #PrivateEquity #SMEGrowth

Proparco Puts EUR 1M Behind Kenyan Farmers for Climate-Smart Agriculture Kenyan farmers are getting a big boost as Proparco commits EUR 1 M (USD 1.08 M) to Equity Group Foundation International (EGF). This funding is set to power the Climate Resilient Agri-Food Systems (CRAFS) project, helping farmers grow more, waste less, and farm smarter. Kenya’s agriculture sector makes up 30% of GDP and 45% of export earnings, employing 70% of the rural workforce, yet climate change is making farming more unpredictable. Through this initiative, 15,000 farmers per year are expected to get hands-on training, financial access, and practical solutions like water harvesting, waste-to-energy systems, and energy-efficient farming. This partnership is more than just funding—it’s about securing the future of Kenyan agriculture and making farming more sustainable for generations to come. #Kenya #Farmers #Sustainability #Agriculture #Proparco #EquityGroup #ClimateAction https://ow.ly/b9rL50Vnxoj

Solar is finally getting its big break in Nigeria. Skyrocketing fuel and electricity costs made sure of that. But if startups can’t crack affordability, this boom might fizzle out fast. Can they keep the momentum or are they flying too close to the sun? https://lnkd.in/gXHBXur2

Norfund Makes USD 33 M Investment to Boost Food Resilience in South Africa Norwegian Investment Fund (Norfund) is investing ZAR 600 M (approximately USD 33 M) in AFGRI, a leading agricultural services company in South Africa. This funding aims to support capital expenditures, working capital, and farmer financing, strengthening the country’s agricultural sector. AFGRI serves around one-third of South Africa’s farmers, providing essential services like grain management, agricultural machinery, food processing, and farmer financing. Agriculture is critical to South Africa’s economy, exports, and food security, making investments like this vital for long-term sustainability. This funding ensures farmers have the resources they need to grow, innovate, and secure food supply for the future. #Norfund #AFGRI #FoodSecurity #Agriculture #ImpactInvesting #Sustainability #SouthAfrica

Swedfund International is stepping up its support for African entrepreneurs with a USD 16.3 M investment in AfricInvest Group’s Small Cap Fund. The fund is designed to bridge the financing gap for small and medium-sized enterprises (SMEs), helping them scale, create jobs, and drive sustainable economic growth. With a target of EUR 180 M, the fund has already secured backing from Proparco and the International Finance Corporation (IFC), reinforcing its potential to create a lasting impact. This investment follows Swedfund’s recent USD 20 M commitment to AgDevCo, aimed at strengthening agribusinesses and improving food security in sub-Saharan Africa. With this investment, Swedfund seeks to champion sustainable business growth, economic inclusion, and a resilient African SME sector. https://lnkd.in/gBFcqbNb #Swedfund #AfricInvest #SMEGrowth #ImpactInvesting #DFI #PrivateEquity

Africa’s quiet giant has been reshaping the continent—without the noise. French development finance institution (DFI) Proparco has pumped USD 18 B into Africa since 2000, backing 2,000+ projects that drive real impact. 💰 USD 3.5B invested in 2020 alone—a record-breaking push into key sectors. 🌍 Betting big on Morocco, Côte d'Ivoire & Rwanda—not just the usual players like the big four. ⚡ USD 5.5B into renewables, USD 2.2 B fueling fintech, and USD 3.8 B in infrastructure. While others chase the spotlight, Proparco focuses on building Africa’s future—one strategic investment at a time. https://lnkd.in/ge4Cep_v #AfricaInvestment #Proparco #DevelopmentFinance #Fintech #Renewables #Infrastructure

One of Africa’s biggest players has been making bold moves—quietly. Proparco, the private-sector arm of the AFD - Agence Française de Développement isn’t flashy, But with USD 18 B poured into 2,000+ projects since 2000, it’s one of the continent’s most powerful investors. In 2020 alone, it injected a record-breaking USD 3.5 B into Africa. While most investors stick to Nigeria, South Africa, Kenya, and Egypt, Proparco plays a different game. Its biggest bets are on Morocco, Côte d'Ivoire, Rwanda, and Senegal—markets others often overlook. With a focus on fueling renewable energy, driving fintech, and powering infrastructure, Proparco is one of the major names rewriting Africa’s growth playbook. Its strategy isn’t about quick wins. It’s about transformation. And it doesn’t make noise doing it. It focuses on impact. #AfricaInvestment #DevelopmentFinance #Proparco #PatientCapital #SilentInvestment #RenewableEnergy #Fintech #Infrastructure https://lnkd.in/ge4Cep_v

The recent pay restructuring at Vendease, which had previously endured sweeping layoffs and operational shakeups, has upset many. The Y Combinator-backed Nigerian startup cut salaries to a flat sum (~USD 90), deferred pay, adopted a performance-based compensation plan, and offered equity IOUs. One might say it's anything but ease at Vendease at the moment. But this is just the latest in a long list of adjustments African B2B e-commerce startups are resorting to in today’s challenging market. These companies were once venture capital darlings (Vendease raised USD 30 M in Series A, for instance, and the sector saw USD 400 M+ at its peak from 2020 to 2022). But they are now facing economic headwinds, investor pullbacks, and the imperative to build more sustainable models. In recent months, Vendease’s decision to trim its workforce by nearly 20%, followed by an even more dramatic 44% cut shortly after, reflects broader pressures in the sector. Similar challenges have hit players like Alerzo, MarketForce, Capiter, Zumi, and Wabi, which have all buckled under cash flow crises, restructuring phases, and strategic pivots to stay afloat. Amid these struggles, however, a trend toward consolidation is emerging. TradeDepot’s acquisition of Ghana’s Green Lion in 2022 expanded its reach and fortified its market presence. And the merger between Wasoko and MaxAB created a pan-African powerhouse Diversification is another key theme. Facing macroeconomic challenges, TradeDepot has even ventured into the food sector with its Mangrove brand. Similarly, Omnibiz is broadening its horizon by embedding financial services into its platform. Omnibiz's launch of OmniPay and TradeDepot's acquisition of Traction Apps are indicators of the sector’s drive to offer integrated financial solutions that support retailers and SMEs alike. What began as a race for rapid scale now appears to be a journey toward resilience and long-term sustainability. 🔗https://lnkd.in/g8Ae_MET

BII Invests USD 20 M in Alterra’s AAA Fund to Fuel Africa’s Growth British International Investment (BII) just committed USD 20 M to the Alterra Africa Accelerator Fund (AAA Fund), backing businesses that are driving Africa’s economic transformation. With a USD 400 M fundraising target, the AAA Fund managed by Alterra Capital Partners, is investing in high-growth companies that fuel financial inclusion, digital innovation, job creation, and women’s empowerment. Since its first close at USD 140 M in 2023, the AAA Fund has been attracting big-name investors who see its potential for impact and strong returns. It’s already backed by Norfund AS, Standard Bank Group, International Finance Corporation (IFC), Allianz SE’s AfricaGrow Fund, and Carlyle co-founders David Rubenstein and Bill Conway. With strong backing and a clear focus on transformative growth, the AAA Fund is set to play a key role in shaping Africa’s economic future. #AfricaInvestments #PrivateEquity #ImpactInvesting #FinancialInclusion https://lnkd.in/gV8Nc2zd