Author: Samuel Suru

Chui Ventures, a prominent firm focusing on seed-stage investments in Sub-Saharan Africa, has officially announced the final close of its debut fund, securing a total of $17.3 million. This amount significantly surpassed the firm’s initial target of $10 million, demonstrating strong investor confidence despite the challenging current global fundraising environment for African Venture Capital. The fund, which operates out of Nairobi and Lagos, secured capital from major institutional backers, including the highly influential Mastercard Foundation Africa Growth Fund and the Michael & Susan Dell Foundation. What makes this fund closure particularly notable is its significant reliance on private, local capital.…

The U.S. Department of State is awarding $150 million to Zipline, the world’s largest autonomous logistics system, to support the expansion of its life-saving AI and robotics infrastructure across Africa. This pay-for-performance model, the first of its kind from the State Department, ensures that funds will be released only when African governments sign expansion contracts and commit to ongoing operating costs. This approach guarantees the long-term sustainability of the service within public health systems. Zipline already operates regionally in each participating African government, and this award will allow them to scale their centralized, on-demand logistics infrastructure nationwide. At full scale,…

The enduring misconception that the US O-1 Visa is exclusively reserved for global “Geniuses” or cultural icons represents one of the most financially detrimental misunderstandings currently plaguing the African tech ecosystem. The crucial truth that many growth-oriented founders continue to overlook is that the O-1 classification transcends a simple travel document; it fundamentally acts as a powerful lever for accelerating company growth and global operational maturity. For any founder, senior engineer, or product leader focused on building a globally competitive product, the time has come to stop viewing this visa as a mere access pass and start strategically treating it…

The global push to electrify Africa’s public transport sector is accelerating, with Development Finance Institutions (DFIs) firmly establishing themselves as the primary capital source. The latest significant transaction comes from France’s Proparco, the private sector arm of the French Development Agency (AFD), which has announced an investment in Nairobi-based electric bus startup BasiGo. The funding will directly fuel BasiGo’s ambitious expansion plans across key East African markets, specifically Kenya and Rwanda. While the precise financial amount committed by Proparco remains undisclosed, the strategic intent is to rapidly accelerate the transition away from high-polluting, diesel-powered public service vehicles in some of…

The African Development Bank (AfDB) has officially greenlit a $15 million equity investment into the Adenia Entrepreneurial Fund I (AEF I), a dedicated growth-focused investment vehicle managed by Adenia Partners. This strategic injection of capital is specifically targeted at providing crucial growth funding to a portfolio of small- and mid-cap companies across diverse African markets. The investment aligns with the AfDB’s broader objective of strengthening continental economic resilience through targeted private sector support. AEF I will strategically target established businesses operating in sectors identified as critical for driving inclusive development and ensuring long-term sustainability across Africa. These key sectors include…

The Sahara Group has issued a strong statement asserting that strategically scaling nature-based solutions (NbS) across the African continent is absolutely critical for unlocking necessary climate finance, significantly accelerating adaptation strategies, and bolstering the continent’s resilience during the global transition towards a low-carbon future. Speaking at the 30th Conference of the Parties (COP30) to the UN Framework Convention on Climate Change in Belém, Brazil, Tejumade Tejuoso, the Governance and Sustainability Manager at Sahara Group, emphasized the urgent need for Africa to be more deliberate in constructing robust systems designed to protect human lives, safeguard livelihoods, and preserve essential ecosystems. She…

234Finance, through the upcoming Mentor Matchup Challenge 7.0 (MMC 7.0), has unveiled a comprehensive suite of benefits designed specifically to empower Small and Medium Enterprises (SMEs) and facilitate their successful expansion under the African Continental Free Trade Area (AfCFTA) framework. Recognizing that contemporary businesses must possess both robust technical infrastructure and a strong, recognizable personal brand to compete effectively on a global scale, the organizers have curated a support package that directly addresses these operational imperatives. The central highlight of this year’s SME benefits is the significant provision of up to $50,000 in Amazon Web Services (AWS) cloud credits for…

Walmart, the world’s largest retailer, has officially opened its inaugural store under its own brand name in South Africa, marking a significant strategic escalation in the country’s highly competitive retail sector. The new outlet was inaugurated on November 22 in Roodepoort, situated west of Johannesburg, following the initial announcement made in September. This expansion has immediately created 80 new jobs and facilitated new partnerships with 15 local small and medium enterprises (SMEs), demonstrating an immediate positive impact on the local economy. This direct entry represents a new phase for the American retail giant, which first entered the market by acquiring…

Zenith Bank successfully hosted the fifth edition of its highly anticipated Tech Fair on Thursday, November 20, 2025, at the Eko Convention Centre in Lagos, where it powerfully reinforced its strategic commitment to empowering technology-driven solutions and fostering deep-seated innovation across the African continent. The event, held under the compelling theme “Future Forward 5.0: Tech for Success – Innovate, Adapt, Accelerate,” attracted an impressive gathering of over 2,000 active participants, including a large contingent of developers, ambitious entrepreneurs, and leading startup founders traveling from various African nations. The bank’s commitment was highlighted by the distribution of a total of N140…

The entrepreneurial support program develoPPP Ventures, an initiative spearheaded by Germany’s Federal Development Ministry (BMZ), has officially opened the application window for its highly anticipated 10th cohort. This program offers promising post-revenue startups a chance to secure EUR 100,000 (approximately US$115,000) in catalytic funding and technical assistance designed specifically to help them achieve rapid scale. The initiative operates on a crucial matching-funds model in collaboration with DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH. This partnership is structured to provide grant financing to ventures that have clearly demonstrated proof of concept, achieved substantial market traction, and are genuinely ready to significantly…