In just under five years, Afrimobility, the venture capital arm of Morocco’s Akwa Group, has quietly built a portfolio of 25 startups across Africa, Europe, and North America. The fund, launched in 2020, has positioned itself as a key player in early-stage tech investments, backing companies in sectors ranging from artificial intelligence and fintech to green energy and mobility.

With two successful exits already under its belt — Morocco’s Kifal Auto in 2022 and Egypt’s Hatla2i in 2024 — Afrimobility is proving that African venture capital can compete on a global scale. But its strategy goes beyond just writing checks.

Afrimobility’s portfolio reflects a deliberate focus on startups with high-growth potential and scalable technology. Among its most notable investments are:

• Cathedis (Morocco): A fintech firm streamlining digital payments.
• CloudFret (Morocco): A logistics platform optimizing freight transport.
• Quantum Dice (UK): A quantum computing security startup.
• Hema.to (Germany): A healthtech company specializing in blood diagnostics.
• Azalea (Belgium): A biotech firm developing sustainable agricultural solutions.

“We look for startups that are not just solving local problems but have the potential to expand internationally,” says Moulay Hafid Amrani, CEO of Afrimobility. “Our role isn’t just to fund them — it’s to help them scale.”

Unlike traditional VC firms, Afrimobility takes an active role in shaping its portfolio companies. Its support framework includes:

• Access to Akwa Group’s Ecosystem: Startups benefit from partnerships with Akwa’s subsidiaries in logistics, energy, and retail, allowing real-world testing and pilot programs.
• An Accelerator Program at Station F (Paris): In partnership with HEC Paris, Afrimobility offers a three-month immersion program for founders to refine business models and expand into new markets.
• Leadership Coaching: A U.S.-based firm provides tailored coaching for founders, covering leadership, stress management, and organizational strategy.

“Many VCs just provide money and wait,” says Amrani. “We invest in the founders themselves, because their success determines ours.”

Afrimobility’s rapid growth is closely tied to its parent company, Akwa Group — a Moroccan conglomerate with interests in energy, chemicals, and media. The group, led by billionaire Aziz Akhannouch (who also serves as Morocco’s Prime Minister), has long been a dominant force in the country’s economy.

Akhannouch’s influence extends beyond business. As agriculture minister from 2007 to 2021, he pushed through reforms that modernized Morocco’s farming sector. His political and business clout has helped Afrimobility forge connections that many regional VCs lack.

Still, the fund operates independently, with a clear mandate: invest in innovation, drive job creation, and exit profitably within 5–7 years.

While Afrimobility’s track record is impressive, the African VC landscape remains volatile. Many startups struggle with funding gaps beyond the seed stage, and regulatory hurdles vary widely across markets.

Amrani acknowledges these challenges but remains optimistic. “We’re still in the early stages of Africa’s tech boom,” he says. “The next decade will separate the sustainable ventures from the hype.”

With two exits in five years and a growing portfolio, Afrimobility is betting that its hands-on approach will set a new standard for venture capital in emerging markets. If it succeeds, it could redefine how African startups attract — and retain — global investment.