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Kenya-based venture capital firm, Enza Capital secures $58m funding

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Kenyan pan-African venture capital firm, Enza Capital, has announced securing $58 million in funding, as well as launching a Founder Partner programme which will provide leadership teams of portfolio companies adequate training aimed at making them become co-owners and share in the broader success of the firm and fellow investees.

Co-founder and Managing Partner at Enza Capital, Mike Mompi, who made the announcement on Friday, said the company was pioneering a new type of shared ownership model in Africa in which founders and leadership teams of the portfolio companies became co-owners of Enza Capital and share in the success of the firm.

“This new vehicle will enable Enza Capital to further build on the strong foundations established by visionary founders, like-minded funds, and values-aligned stakeholders across Africa,” Mompi said.

“It reaffirms our dedication to becoming a steadfast, long-term partner in one of the most dynamic, high-growth, and consequential tech ecosystems of our era.

“Our existing portfolio companies and future long-term partners are technology-driven enterprises leading the transition from offline to online, digitizing pivotal sectors, and building the rails that will help empower Africans and transform the continent.

“These companies are reshaping the very fabric of how Africans live, earn, work, do business, and thrive. The Founder Partner programme fosters alignment and collaboration, and it increases the likelihood of success across all stakeholders in the Venture Capital structure, ranging from LPs and investors to management teams, and extending to the ultimate beneficiaries of the products or services developed by these enterprises.

“We truly believe in shared ownership, and we can empathize with leadership teams – these are some of the reasons why we launched the Founder Partner programme.”

Founded in 2019, Enza Capital has prided itself as a multi-stage venture capital company that backs founders and teams using technology to solve large and meaningful problems across Africa.

The firm has so far made 48 investments into high-growth African technology companies, from first cheque at the pre-seed level to Series B, according to the Managing Partner.

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Tanzania’s horticultural industry gets $2.1m grant from TradeMark Africa to boost market expansion

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The Tanzanian horticultural industry has recieved a grant of $2.1 million from TradeMark Africa to enable it boost its market expansion.

According to TradeMark Africa’s Regional Director for East and Central Africa, Ms. Monica Hangi, the Tanzania Horticultural Association (TAHA) and TradeMark signed a grant agreement to initiate the Phase II of their collaborative project

“The Phase I of the project which ran from January 2019 to June 2023, yielded tangible results, with 27,854 farmers (35% women, 65% men, and 40% youth) linked to markets, and approximately 50,000 tons of horticultural products worth roughly TZS 42.7 billion (US$18.3 million) sold.

“This second phase, backed by a $2.1 million (Tzs 5.4billion) grant from TMA funded by the Foreign, Commonwealth & Development Office (FCDO), Norway, and Ireland, spans three years and focuses on advancing market access, promoting sustainable trade practices, and empowering local farmers in the horticultural industry,” she said in a statement on Wednesday.

Hangi noted that despite notable successes recorded with the first phase, the sector continues to face substantial challenges, including limited financing access, climate change impacts, and inadequate market information, which could hinder growth.

“These challenges necessitate a united approach from both the government and private sector, incorporating policy support, research and development investment, and development sector initiatives aimed at improving market and credit access for farmers,” she said.

She added that the grant highlighted the significance of supporting the horticultural sector, particularly in mitigating unemployment among youth and women.

“Our commitment through this substantial grant is to upscale production, increase export volumes, and, consequently, job opportunities, thereby reinforcing Tanzania’s standing in the global horticultural market,” said Hangi

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Civil society group says planned online regulation under IBA Act, an affront on media freedom (Video)

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Chapter One Foundation Executive Director, Linda Kasonde, says the planned online regulation under the new Independent Broadcasting Authority (IBA) Act is an affront to media freedom and freedom of expression.

Kasonde said most of the countries which have regulations in place for online content like Podcasts are well known for dictatorship type of governance.

She said this during the Foundation’s public forum on the IBA Act titled the new IBA Act: “Are media freedoms under threat” in Lusaka on Friday evening.

“It’s worthy listing the countries that regulate online broadcasting and these area as follows China, Eriteria, Cuba, Iran, North Korea, Belarus, Burma and Tagministan and if you pay attention to this list you will notice that these are well established dictatorship,” Kasonde stated.

She urged government not to join such countries which do not respect freedom of expression and in the end deny people access to the right information.

She added that the Cyber Security Act also aggravated the situation in Zambia of inhibiting democratic values and media freedoms.

Kasonde advised that government should not create unnecessary barriers to information that would inhibit the market place to ideas from freely being allowed to flow.

“So if Zambia does decide to enact the new IBA Act what would be the potential consequences to freedom of expression in our country,” she asked.

Kasonde noted that with the existing IBA Act, the country had seen the law weaponised and used to shut down private or independent broadcasters such as Prime TV, Komboni Radio and KBN News.

She said the proposal on regulating public broadcasters which had been getting away with a number of issues as a result of politics was welcome and would be supported and not the regulation of online broadcast.

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