While Orda currently operates in Nigeria and Kenya, this acquisition only covers its Nigerian operations, leaving the future of its Kenyan arm undecided.
Consolidation in Southern Africa’s utility fintech sector is accelerating as established operators look beyond traditional merchant acquiring and airtime lending.
The mezzanine debt facility will primarily target Nigeria, where businesses currently depend on an estimated 40GW of expensive, self-generated fossil fuel power.
The World Bank Group's private sector arm is anchoring the Nairobi-headquartered manager's second African growth equity vehicle, which targets eight to twelve portfolio companies across Nigeria, Kenya, and South Africa.
The Southern Africa-focused climate tech investor has closed its first fund, backing ten companies across e-mobility, circular economy and energy access