In 2023 alone, the e-levy generated GHS 1.19 billion (roughly $129 million), exceeding its target of GHS 1.11 billion.

This investment comes on the heels of DOB Equity announcing its first investment under a refined strategy earlier this year.

2PointZero boasts over $27 billion in assets.

The year is taking shape, and investors are tightening their grip on the ecosystem.

Swvl has equally undertaken significant restructuring efforts under its Portfolio Optimization Program. This involved the sale of its Pakistani subsidiary for $20,000 in April 2023 and the liquidation of operations in Kenya, Jordan, and Malaysia.

Expeditions into Francophone African fintech intensify.

However, a visit to Bizao's website indicates that it is currently inaccessible.

Other players in the market include Safaricom’s Faraja, M-Kopa, Tala, and Branch, each with their own distinct approaches.

While these fees are modest compared to capital requirements, they add to the cumulative cost of market entry.

"A great team in a large market will always find a way to succeed," Jouini tells Launch Base Africa.

Leading the combined entity is Nic Klopper, CEO and co-founder of hearX, who will assume the role of CEO for LXE Hearing.

The Seed Fund is designed as a follow-on funding mechanism for applicants who have successfully completed a Pre-Seed funded project.