Ariika reported a compounded annual growth rate (CAGR) of 90% since its inception, serving over one million customers worldwide and generating 15% of its revenue through exports.

Currently, over 90% of VCTF funding originates from foreign sources.

At 81%, foreign-headquartered African deeptech startups have a significant funding advantage over their local counterparts.

“Africa is experiencing a population boom while venture capital inflows have declined sharply.”

The sandbox offers a unique solution, allowing businesses to trial their solutions with the support of regulatory oversight

CDG Invest’s involvement in Upfund follows its recent participation in a $2.4 million seed round for Amsterdam-based hospitality tech startup Userguest.

Made from plant-based materials, including overripe fruits, the solution delays spoilage by reducing oxidation and microbial decay.

Fako Capital joins a growing network of African impact funds nurtured by I&P

Recharger operates a base of over 460,000 registered prepaid electricity meters, catering to landlords and tenants.

The Mama Money Card is making it much easier for under-served communities to get their own bank service where all they need is proof of identity such as a passport, asylum document or South African ID to register for Mama Money on their phone.

The COVID-19 pandemic played a catalytic role in accelerating digital payments. In 2023, digital payment transaction volumes surged by 33.78%

These appointments signify how the startup ministry, established recently in 2020 to nurture the country’s entrepreneurial ecosystem, has become a critical talent pipeline for Algeria’s government.