The company aims to formalize Egypt’s highly fragmented used car market — estimated at $10 billion — by introducing standardized pricing, digital financing, and secure ownership transfers.

But will it be enough to reverse the exodus?

Black will work closely with Okoudjou, the executive team, and shareholders to steer Onafriq’s growth strategy, with a particular focus on expanding cross-border capabilities and forging global partnerships.

The company recorded impressive growth in 2024, adding over 1 million users who placed more than 15 million investment orders worth approximately EGP 170bn ($3.4bn).

We looked through our data and uncovered a jarring reality: in 2025, Nigerian VCs are eerily quiet—even after some announced headline-making fundraises. For local founders, this isn’t just a data point; it’s a big concern.

Over the next 12 to 18 months, MaxAB-Wasoko says it expects to see significant topline growth and improved operational efficiency.

In August 2024, Qardy closed a seven-figure pre-seed funding round backed by investors including White Field Ventures, Vastly Valuable Ventures, and a number of angel backers.

Dream VC’s announcement comes amid renewed debate around the dominance of foreign capital and founders in African tech.

The EDFI loan follows a separate $12 million investment last year from Vancouver-based Key Carbon — formerly Carbon Neutral Royalty — with backing from private equity firm Cartesian.

The Casablanca-based financial services provider has announced that non-residents can now open accounts using only a valid passport.

Here’s a closer look at the notable under-the-radar investment activity we’re tracking this week.

Last year, HAVAÍC — a venture capital firm known for strategic tech investments and a recent exit from fellow emergency-tech startup RapidDeploy — invested $1.1 million in AURA through a bridge round, in partnership with AfricInvest.