E-Mobility boost with funds for eWaka, Roam and BasiGo

Apr 05, 2024

Hi all,

it’s time again for our investment and industry news roundup covering Sub-Saharan Africa.

The highlights this week:

🚀 Movement in the e-mobility space with funding and financing deals for eWaka, Roam and BasiGo to boost e-bike and e-bus expansion

👗 Rwandan fashion brand Asantii wins prestigious 2024 Rising Sustainable Brand Award in New York

📈 Africa’s largest stock exchange plans to begin trading carbon offsets within the next 2 months

Let’s dive in!

African Development Bank approves $50 million loan to support climate change resilience, improve livelihoods and boost food security in Nigeria
PE-firm Adenia Partners Ltd. has raised $470 million, closing its largest fund to date, the Adenia Africa Fund
VC firm Satgana closes 8mn fund to invest in early-stage climate-tech startups in Africa and Europe
IFC invests $10.5 million into the 4DX Ventures fund to invest into African technology firms.
ANAVA invests $4.3 million in Janngo Capital Startup Fund (JCSF), targeting 25 startups in francophone Africa with a $65 million fund size
Calvert invests $10m in sub-Saharan agribusiness fund

Industry: Discover proactive African Foodtech startups focused on shifting agricultural practices to prepare for what is to come.
Uganda: Bamboo farming on the rise offering high growth potential and taking off pressure from dwindling forest reserves of eucalyptus
Uganda: Conservationists, manufacturers, and processors have collaborated to kickstart the implementation of bio-degradable plastics nationwide.
Nigeria: CEO grows dried fruit company ReelFruit from idea to new modern factory with a capacity of 800 tonnes per year
Kenya: Innovators using solar energy to dry vegetables and fruits
East/Southern Africa: Nestle plans to invest $132 million in enhancing supplier sustainability, focusing on improving raw materials, packaging, and supporting emerging locally-owned businesses.

South Africa: JSE Ltd., the largest stock and bond exchange in Africa, plans to begin trading carbon offset credits in the next two months
Industry: The global carbon credit market has surged to a record high of $909 billion, prompting Africa to seek a larger share through initiatives like the African Carbon Markets Initiative (ACMI)

Zimbabwe: Zimbabwe set to commence mega hydropower project in early 2025 in partnership with Zambia to enhance electricity supply in the region.
Kenya: Kenya published new regulations that allows the processing of green hydrogen for commercial use boosting their quest for a net-zero economy
South Africa: Construction of Impofu wind farm started with capacity of 330 MW
Nigeria: Women spearheading solar projects - ‘I want to tackle it in a big way’

Nigeria: AMA Medical Manufacturing initiates phase 2 construction of its OSD plant to produce tables and capsules, as part of its facility expansion
South Africa: Ford invests close to $300 mn in hybrid EV plant
South Africa: Manufacturers show optimism as logistical challenges begin to alleviate, with an index indicating anticipated business conditions reaching a 14-month high
Rwanda: Asantii, a Rwandan clothing line that sources over 80% of materials from the continent, gained global recognition after winning the prestigious 2024 Rising Sustainable Brand Award in New York

Exseede - Africa