Author: Victor Olayiwola

Ivory Coast-based e-commerce platform ANKA, a rising force in Africa’s digital retail landscape, has been acquired by Global Shop Group in a landmark deal that underscores growing international interest in African fashion and e-commerce markets. The acquisition marks Global Shop Group’s formal entry into the continent’s fast-growing online fashion space. Established in 2016 by founders Moulaye Tabouré, Abdoul Kadry Diallo, and Luc Perussault-Diallo, ANKA started as Afrikrea, a niche marketplace designed specifically for African-inspired fashion and handcrafted products. As the business evolved, the team expanded its offerings to build a more comprehensive ecosystem for African creatives and merchants. Today, ANKA…

Farm to Feed, a Kenyan agri-tech company focused on reducing food waste and building sustainable food systems, has completed a US$1.5 million seed funding round aimed at scaling its operations and strengthening food resilience across Africa. Launched in 2021, the startup was founded by CEO Claire Van Enk alongside co-founders Anouk Boertien and Zara Benosa. Farm to Feed’s core mission is to address post-harvest food loss by creating new market channels for surplus and imperfect fresh produce that would otherwise go to waste. The company accomplishes this through its digital B2B platform, which matches available supply from farmers with demand…

Africa-focused early-stage investment firm First Circle Capital has raised US$6 million from the International Finance Corporation (IFC), a member of the World Bank Group, as part of its mission to support promising fintech startups across the continent. The investment is a significant step towards the firm’s goal of fueling the next generation of innovative financial services companies in Africa. Based in Uganda and Casablanca, First Circle Capital focuses on identifying and backing early-stage, high-potential fintech startups at the pre-seed and seed stages. The firm’s investment thesis revolves around supporting ventures that are building scalable solutions to address deep-rooted challenges in…

Ugandan renewable energy company Sawa Energy has successfully secured EUR 2.5 million (approximately US$2.9 million) in equity investment from the EU-backed Electrification Financing Initiative (ElectriFI). The funding is aimed at accelerating access to renewable energy for commercial and industrial clients across Uganda and Rwanda while helping replace reliance on diesel generators. Founded in 2021, Sawa Energy is a leading renewable energy group operating in East Africa, with a focus on providing fully-financed, customized solar PV systems and energy storage solutions. The company’s mission is to drive the transition toward clean energy by enabling businesses to access reliable, affordable, and environmentally…

Kenyan electric vehicle (EV) startup Enzi Mobility has entered a groundbreaking investment agreement with blockchain-enabled impact investment firm Kula, securing a total of US$3.5 million to accelerate its operations and technological innovation. The deal includes US$2 million in equity funding and an additional US$1.5 million in-kind contribution consisting of Kula’s blockchain technology stack. Enzi Mobility, a leading provider of affordable electric motorcycles and battery-swapping infrastructure, is driving the transition toward sustainable urban transportation in East Africa. The company focuses on clean mobility, economic empowerment, and active rider participation, positioning itself as a pioneer in the region’s electric mobility sector. Kula,…

Kenyan agricultural technology startup Synnefa, founded in 2014 by Taita Ngetich, has made significant strides in smart farming solutions aimed at reducing food waste and improving water efficiency. The company’s portfolio includes innovations such as Smart Greenhouses, FarmShield IoT, FarmCloud, and Smart Solar Dryers, all designed to empower farmers with modern, technology-driven tools to optimize productivity and sustainability. Having already impacted over 7,000 farmers across Kenya, Synnefa has now secured US$300,000 in grant funding from the World Resources Institute’s Partnering for Green Growth and the Global Goals 2030 (P4G) initiative. This grant, awarded in collaboration with the international development organization…

Tunisian startup WildyNess has successfully closed a pre-seed funding round, the value of which has not been publicly disclosed, to support the scaling of its sustainable travel marketplace across North Africa. Founded in 2021 by engineers Achraf Aouadi and Rym Bourguib, WildyNess is a Tunis-based platform focused on sustainable tourism and Community-Based Tourism (CBT). The marketplace caters to both B2C and B2B2C segments, connecting conscious travelers with a carefully curated selection of authentic experiences. These experiences are co-created in partnership with local micro-businesses, ensuring visitors receive genuine cultural immersion while generating direct economic benefits for the communities involved. By promoting…

Novastar Ventures, a venture capital firm focused on Africa, has successfully secured a US$40 million equity commitment from the Green Climate Fund (GCF) to support its latest investment vehicle, the Africa People & Planet Fund III. The new fund is targeting a total size of US$200 million and aims to drive innovation in Africa’s climate-focused startup ecosystem. With established offices in both Nairobi and Lagos, Novastar Ventures stands as one of the continent’s leading platforms dedicated to financing early- and growth-stage businesses. The firm focuses on backing startups that address critical needs for basic goods and services through innovative and…

Chari, a Y Combinator–backed Moroccan startup that is revolutionizing the country’s retail landscape by transforming traditional stores into a nationwide fintech network, has successfully secured additional funding from Egyptian venture capital firm DisrupTech Ventures. Founded in 2020 by the husband-and-wife duo Ismael and Sophia Belkhayat, Chari provides a platform for local proximity store owners in Morocco to efficiently order products and have them delivered directly to their shops. Since its inception, the startup has onboarded over 20,000 food businesses across Morocco and has expanded its operations into neighboring countries, including Tunisia and the Ivory Coast. Beyond simplifying product orders, Chari’s…

Moni, the Y Combinator-backed Nigerian fintech known for leveraging social trust and community networks to deliver financial services, has officially rebranded as Rank, reflecting a strategic shift toward providing a broader and more comprehensive suite of financial services across African communities. In line with this transformation, the company has also announced two significant acquisitions: AjoMoney, a leading group savings platform, and Zazzau Microfinance Bank (MFB), a licensed microfinance institution. Rank now operates as a community-driven money app, enabling individuals and businesses to seamlessly spend, save, invest, and manage their finances all in one platform. The company’s mission remains rooted in…