Tuesday, April 21, 2026Global tech, startups & capital — covered for Africans.
Africa’s investment scene held steady this week, riding on the back of impressive performances by companies in the clean energy, climate tech, and mobility sectors. The major highlights include Kenya’s e-mobility sector and Egypt’s solar expansion as investors keep betting on climate-aligned ventures. Additionally, there were indications of rising interest in companies offering financial inclusion […]
By AU-Startups
Africa’s investment scene held steady this week, riding on the back of impressive performances by companies in the clean energy, climate tech, and mobility sectors. The major highlights include Kenya’s e-mobility sector and Egypt’s solar expansion as investors keep betting on climate-aligned ventures.
Additionally, there were indications of rising interest in companies offering financial inclusion and digital infrastructure services
Ultimately, the continued resurgence of major funding is a signal of investors’ continued focus on long-term, scalable impact across Africa.
Funding Round: $3.5 Million
Investor(s): Kula PCC
Founder(s): Bill Schafer
Founded in: Kenya (2021)
About Company
Enzi Mobility builds affordable electric motorbikes and battery-swapping infrastructure. Plugging into Kenya’s fast-growing transport sector, it aims to leverage the increasing demand for more affordable transport alternatives. Its model addresses high fuel costs and vehicle downtime through a network of swapping stations that let riders exchange batteries in minutes.
Additionally, Enzi integrates blockchain-based tools ($ENZI and $BODA tokens) for energy tracking and community participation. This feature enables transparent ESG reporting and user engagement. Enzi Mobility’s approach combines practical transport engineering with financial inclusion, giving motorcycle operators access to low-cost, clean technology while promoting digital literacy. Through its strategic efforts, the company is positioning itself as a key player in Kenya’s push toward sustainable mobility.
What’s Next
The $3.5 million investment, made up of $2 million in equity and $1.5 million in blockchain infrastructure support, will fund Enzi Mobility’s expansion across major Kenyan cities and into regional markets such as Uganda and Tanzania. The company plans to grow its rider network, install new charging and battery-swap points, and roll out its digital tokens to boost transparency and reward riders. Enzi aims to reduce emissions from motorcycle transport while enabling local riders to co-own the system through digital participation. This investment positions it among East Africa’s early leaders in community-driven, clean mobility infrastructure.
Funding Round: $300,000 Grant
Investor(s): Partnering for Green Growth and the Global Goals (P4G), managed by Solidaridad
Founder(s): N/A
Founded in: Kenya (2018)
About Company
Synnefa Green Limited develops digital agriculture systems combining IoT sensors, data analytics, and renewable energy solutions for smallholder farmers. Among its products are;
The company already works with over 7,000 farmers, supporting them with tools that improve crop quality and market value. Through technology, Synnefa addresses a key gap in Africa’s agricultural value chain (storage and preservation) while supporting climate adaptation.
What’s Next
The $300,000 P4G grant, delivered through Solidaridad, will fund the deployment of IoT-enabled solar dryers to more farmers in Kenya. The project aims to reduce drying time from ten days to less than three, cut food loss by nearly half, and lower emissions from waste. Synnefa also plans to train youth enterprises under rent-to-own and dry-as-a-service models, enabling sustainable income for rural operators. Looking ahead, the company targets $2 million in additional capital by 2026 to expand operations across East Africa, digitise post-harvest systems, and build climate-smart value chains that improve income resilience for farmers.
Funding Round: $1.5 Million
Investor(s): Angel investors including executives from Google and Boston Consulting Group
Founder(s): Mohamed Gaber and Abdulaziz Almuhaydib
Founded in: Egypt / Saudi Arabia (2021)
About Company
Velents.ai builds enterprise-grade AI systems for Arabic-speaking markets. Its latest product, Agent.sa, is a fully Arabic-speaking AI bot that automates operations such as customer service, sales, analytics, and order management. The system runs on a proprietary Arabic language model trained on millions of regional texts, enabling natural interaction across Gulf, Egyptian, and Levantine dialects. The startup serves government ministries, private companies, and universities seeking to automate Arabic communication without losing cultural accuracy or linguistic tone.
What’s Next
With the $1.5 million capital injection, Velents.ai will scale Agent.sa across Egypt and Saudi Arabia, targeting enterprise clients in banking, logistics, healthcare, and government. The company plans to integrate new features for CRM, payments, and workflow automation. The funding will also support the continuous development of its model architecture to expand dialect coverage, enhance speech understanding, and enable broader AI deployment across the region’s digital economy.
Funding Round: $142,000
Investor(s): Stellar Community Fund
Founder(s): Dawuda Iddrisu, Charles Owusu, and Cosmos Appiah
Founded in: Ghana (2022)
About Company
SeevCash operates a fintech platform that enables users to open U.S. bank accounts, send and receive money, and invest through a single app. It targets unbanked and underbanked Africans and diaspora communities who face high fees and limited access to formal financial services. The platform integrates blockchain infrastructure to ensure low-cost, transparent transactions and uses Stellar’s technology for cross-border transfers. Users can also earn SeevCoins, a reward token that offsets transaction costs through in-app engagement.
What’s Next
The $142,000 grant from the Stellar Community Fund will strengthen SeevCash’s cross-border payment system by incorporating Stellar-issued stablecoins. The company plans to enhance security, expand its “Send and Request Money” feature, and introduce new investment tools. Its next phase targets scale across West Africa, building partnerships with financial institutions and mobile operators to extend digital finance access.
Funding Round: €5 Million (Debt Financing)
Investor(s): Eurobank
Founder(s): Ahmed Zahran, Xavier Auclair, Yumna Madi, and Randa Fahmy
Founded in: Egypt (2011)
About Company
KarmSolar is one of Egypt’s leading renewable energy developers, providing integrated solar generation, battery storage, and e-mobility solutions for industrial and commercial clients. The company’s model combines project design, financing, and operation to deliver clean energy independent of national grids. KarmSolar operates several power plants in Egypt and supplies clean electricity to agricultural, hospitality, and manufacturing sites. Its vertically integrated structure allows efficiency in project delivery and flexibility in managing large-scale renewable infrastructure. The firm continues to lead private-sector participation in North Africa’s energy transition.
What’s Next
Through its newly established subsidiary, KarmCyprus, the company is expanding internationally with a 7.6 MW solar photovoltaic project in Monagroulli, Cyprus. Backed by €5 million in financing from Eurobank, the project is scheduled for completion in 2026 and will contribute to Cyprus’ 42.5% renewable energy target under EU mandates. The move marks the company’s entry into the Eurozone renewable market, deepening Egypt–Cyprus cooperation and positioning KarmSolar as a regional bridge for clean power exports.
Funding Round: $15 million in Series B
Investor(s): Klima, Alantra’s energy transition fund, Chevron Technology Ventures, Idemitsu
Founder(s): Clinton Bemont
Founded in: South Africa (2017)
About Company
Founded in 2017, Maxwell+spark builds modular, data-driven battery systems to replace diesel engines and lead-acid batteries in forklifts, cold-chain transport, and other industrial operations. The company operates as a Dutch group with assembly in Europe, South Africa, and the United States.
What Next?
CEO Clinton Bemont said the new capital will expand manufacturing capacity, enhance software analytics, and deepen partnerships with OEMs and fleet operators. With thousands of systems already deployed, Maxwell+spark aims to accelerate the shift to low-carbon, circular energy solutions for global supply chains.
Old Mutual has agreed to acquire a majority stake in 10X Investments for R2.2 billion (US$127.4 million). The transaction is awaiting regulatory approval and is expected to close in Q2 2026. The stake is being bought from Old Mutual Private Equity and DiGAME Investments, which first backed 10X in 2014 when the asset manager handled about R3 billion in assets under management (AUM). Today, 10X manages more than R68 billion for over 60,000 clients.
10X is a leading South African provider of passive, technology-led investment solutions and has expanded through acquisitions such as CoreShares in 2022. Its management team will retain a significant ownership stake, and the brand will continue to operate independently. Old Mutual Group CEO Jurie Strydom said the acquisition strengthens the group’s position in the rules-based passive investment market and accelerates its direct-to-consumer retail strategy. The deal supports Old Mutual’s goal to expand low-cost retirement savings and enhance financial inclusion in South Africa through scalable digital platforms.
Mediterrania Capital Partners (MCP) has led a €100 million co-investment in Coris Holding, the parent company of Coris Bank International, with participation from British International Investment (BII), FMO, BIO, and IFU. The capital will strengthen Coris Holding’s balance sheet and finance regional expansion across the West African Economic and Monetary Union (WAEMU). Funds will support SME lending, financial inclusion, and acquisitions in new markets.
Founded by Idrissa Nassa, Coris operates in 10 African countries, including Burkina Faso, Côte d’Ivoire, Senegal, Mali, and Togo. The group serves over 1 million customers and employs 2,200 people. It is listed on the BRVM with a market capitalisation of about €503 million as of June 2025. MCP will take a board seat to support governance and ESG performance. The deal underscores rising investor confidence in West African banking and aligns with MCP’s strategy to back financial institutions driving inclusive growth and economic transformation across the region.
The Green Climate Fund (GCF) has approved $40 million in equity financing for Novastar Ventures’ Africa People and Planet Fund III, a $200 million vehicle focused on climate-technology startups across Africa. The anchor investment was cleared on 30 October 2025 and is intended to de-risk early-stage ventures while attracting up to $160 million in private co-financing.
The fund targets companies developing clean energy, climate-smart agriculture, and resource-efficiency solutions to support Africa’s transition to low-carbon growth. Novastar will invest in early and growth-stage ventures across Kenya, Nigeria, Rwanda, South Africa, and Egypt, with select pan-African scalability. The GCF classifies the project as Category B, with direct benefits estimated for 8.7 million people. Fund III builds on Novastar’s track record of backing inclusive technology firms and extends its focus to adaptation, resilience, and sustainable natural-resource management.
German development finance institution DEG has committed $25 million to Helios Investors V, the fifth private equity fund managed by Helios Investment Partners. The commitment was finalised in September 2025 and serves as an anchor to mobilise private capital toward Africa’s mid-market growth companies.
Helios Fund V focuses on financial services, fintech, consumer goods, healthcare, ICT, light industry, and renewable energy. It targets businesses needing long-term equity capital to scale and create jobs. The fund integrates ESG and climate-risk management in line with IFC Performance Standards and holds an FI-B+ environmental rating. Founded in 2004, Helios manages over $3 billion and has realised $4.3 billion in exits. Through Fund V, the firm will expand investments that advance SDGs 8, 13, and 3 by supporting decent work, climate action, and health. DEG said the partnership reflects its mandate to boost private capital and sustainable enterprise growth across the continent.
FinDev Canada has approved a $100 million loan to the Africa Finance Corporation (AFC) to finance climate-resilient infrastructure projects across Sub-Saharan Africa. The 10-year facility will fund clean energy and low-carbon transport initiatives, including solar PV, wind projects, and sustainable mobility systems. One pipeline project under review is an intercity rail and metro system in the Democratic Republic of the Congo.
The loan marks FinDev Canada’s first partnership with AFC and advances its objective to promote market development and climate action in emerging markets. AFC said the facility will diversify its funding base and strengthen ties with North American development institutions. With 565 million Africans still lacking electricity access, the partnership supports projects that cut emissions and stimulate local economies. FinDev Canada, established in 2018, continues to expand its reach across Africa, Latin America, and South Asia through debt and equity solutions backing inclusive green growth.
