This announcement follows a year of significant momentum for P1, highlighted by its largest investment to date: a co-investment alongside Accel in Nuitee, a Moroccan AI-powered hotel booking platform, which raised a $48m Series A round.

Yousef Rahmani, who holds a Ph.D. in Law from the University of Oxford, co-founded ToumAI Analytics in 2020.

Startups can apply for grants ranging from $150,000 for early-stage projects to larger investments, generally up to $500,000, for more established teams.

The Murabaha structure, in particular, avoids speculative practices, making it a suitable instrument for financing tangible infrastructure projects.

Mr. Misbah’s return comes at a critical juncture for Swvl, which is grappling with financial headwinds.

Prosper Africa partnered with initiatives like Future Africa’s Accelerate Africa (A2) program, which prepares early-stage African founders for global scaling.

Applications will open on February 6, 2025, and will be open to businesses operating for a maximum of two years.

The new fund, dubbed the Alliance for Green Infrastructure in Africa (AGIA), will focus on off-grid power companies and distributed renewable energy solutions.

Saviu II will deploy investments ranging from €500,000 to €3 million, often acting as a lead or reference minority shareholder.

Senegal’s largest e-ticketing system for public transport is now fully powered by Wave, the fintech unicorn that has taken the country’s financial landscape by storm.

This isn’t the firs.t time the Egyptian government has attempted to transform the country’s startup ecosystem.

The African eyewear market is attracting increasing attention from investors.