The timing of the announcement is telling. It comes just as the champions of this new, tech-first model are demonstrating their formidable financial power.
The raise, which includes Visa and Google, defies a broader African tech funding downturn and will fuel the $1bn-plus-valued company’s continental expansion.
The Cape Town-based firm will manage Zafiri, a new blended finance vehicle from the IFC and AfDB aiming to plug the 'missing middle' equity gap for decentralised energy companies.
The South African edtech startup recently won a restraint of trade case against a senior exec who claimed his new 'Co-Founder' title at a competitor was just an 'honorarium'.
This investment is the latest in a series of operations carried out by the public fund, which is actively deploying capital to support Ivorian tech companies.
A Nigerian fintech raised $2.6m from marquee investors, promised its employees fair treatment, and then shut down. A Nigerian court has spent two years untangling what it left behind.
