For a startup that once promised to rewire fast-moving consumer goods distribution across southwest Nigeria, the footage has drawn renewed attention to mounting questions about the company’s viability.
This change effectively acknowledges that smaller transactions, previously subject to the same level of scrutiny as larger ones, were overburdening both regulators and investors.
In July 2022, CrossBoundary Energy announced the completion of a US$40 million equity investment from Norfund and KLP, Norway’s largest pension company.
The $24 million investment will fund Enko Education’s large-scale acquisition strategy aimed at consolidating Africa’s fragmented K-12 education market.
In the UAE, Paymob’s operations have scaled rapidly. Within just 14 months, transaction volumes in the UAE matched what took five years to achieve in Egypt.
Founded in 2018 by former Ernst & Young executives and actuaries Alex Thomson, Sumarié Greybe, and Ernest North, Naked distinguishes itself through a fully digital, AI-driven insurance platform.
In 2024 alone, these tech visitors flocking to Morocco helped catapult the North African country to Africa’s number one tourist destination, surpassing Egypt after it secured over 17.4 million visits that year. But as their presence fades, a new tendril is sprouting.
For a startup that once promised to rewire fast-moving consumer goods distribution across southwest Nigeria, the footage has drawn renewed attention to mounting questions about the company’s viability.
Across 29 disclosed deals, African startups and growth-stage companies raised at least $340.5m in February. The number tells one story. How the money moved tells a different one.
