Tage Kene-Okafor
Husk Power Systems, a clean energy company at the forefront of fueling rural electrification since 2008 and that announced plans to launch 500 solar mini-grids in Nigeria over the next five years, has raised $103 million Series D in equity and debt to meet its objectives.
The capital injection...
Africa’s agricultural sector has a significant social and economic impact, per McKinsey. The percentage of smallholder farmers in sub-Saharan Africa exceeds 60%, while agriculture accounts for approximately 23% of the region’s gross domestic product.
But despite the apparent opportunity in the agricultural sector, it is difficult for Africa to...
Mecho Autotech, a startup offering automotive spare parts, vehicle repairs and maintenance services, has raised a $2.4 million pre-Series A round. The firm targets the Nigerian market, where 90% of the country’s more than 12 million registered cars (mainly used) require regular maintenance to avoid recurring breakdowns.
Its...
As Africa’s youthful population continues to grow exponentially, it’s of the utmost importance that entrepreneurs create various healthcare solutions that will cater to the medical needs of the continent’s future. While the pandemic made investors pay attention to Africa’s private healthcare space, women’s health — a subcategory dominated...
Africa’s insurance market is expected to grow at a compound annual growth rate (CAGR) of 7% between 2022 and 2028, reaching $120 billion. Though seemingly impressive, the insurance industry in Africa could be worth more if insurance penetration on the continent wasn’t extremely low, less than 3%, according...
One out of three tech jobs globally are filled by necessary skilled labor, and according to the World Economic Forum (WEF), this is one of the biggest concerns of global business leaders.
Over 50% of the organizations that these leaders manage, in a survey, say they have lost competitive...
Nigerian communications platform-as-a-service startup Termii has raised $3.65 million in new financing, bringing its total funding to date to slightly $5 million. According to CEO Gbolade Emmanuel, in a chat with TechCrunch, the funds are not needed for operational activities but rather to power the company’s expansion initiatives:...
Helium Health, the African startup that provides software-as-a-service tools, financing, and insights for healthcare providers and public health organizations, has raised $30 million in Series B funding.
The news is coming three years after the Lagos-headquartered healthtech secured a $10 million Series A and 18 months following a rare...
For all the talk about emerging markets and their similarities, moves involving African startups expanding to Latin America are rare. Only two significant activities come to mind recently: Migo’s expansion to Brazil and Paga’s planned move to Mexico, their respective second markets outside Africa.
What’s rarer, however, is the...
Amini, a Nairobi-based climate tech startup focused on solving Africa’s environmental data gap through artificial intelligence and satellite technology, has raised $2 million in a pre-seed funding round.
Pale Blue Dot, the European climate-focused venture capital firm that announced a $100 million fund last week, led the oversubscribed round....
