Tech

Kuramo Capital to invest $150 million in women-led startups in Africa

Published

1 year ago

October 17, 2023

Pan-African investment management firm, Kuramo Capital Management has earmarked $150 million for female-led enterprises in the continent over the next 10 years.

The investment, according to the company, will be done under the Moremi Platform, an initiative to empower the next generation of African women enterprises and promote gender-equitable fund management.

According to Kuramo CEO and founder, Wale Adeosun, the programme is aimed at addressing the “huge funding and knowledge gap for women in business,” which he says is a “major barrier to inclusive, sustainable economic and social development of countries in Africa.”

“We believe that, just as we were able to address gaps with African GPs (fund managers) in the past, we can achieve a similarly catalytic impact with our gender lens initiative,” Adeosun explained in a statement.

“The accelerator program offers a structured curriculum for capacity building, technical assistance, and mentoring for women in business, addressing the knowledge gap, particularly for female fund managers in Africa,” he said.

He added that the programme would include sharpening the skills of women fund managers who would in turn help promote the growth of women-driven enterprises.

Adeosun said the firm had unveiled the first cohort of the accelerator programme, which also serves as a mentorship, capacity building and technical assistance platform, targeting 40 female entrepreneurs and fund managers annually.

“The Accelerator Program is being launched at such a critical time in Africa’s investing story and we are excited by the traction. Despite an increased flow of capital to Africa, women have still been underrepresented at all levels of the investment landscape. Our goal is to address this barrier and improve the ecosystem by supporting female-led African private equity and venture capital funds, Sarah Ngamau, Managing Director, Moremi Fund, said.

“With the Moremi Accelerator Program, we will be addressing challenges facing African female entrepreneurs and fund managers owing to such perceptions,” she said.

“At Kuramo Capital and Kuramo Foundation for Sustainable Development, we firmly believe that the fastest way to unlock capital for female entrepreneurs and gender-smart businesses at scale is to invest in female-led and gender-diverse fund managers. We are very delighted to promote inclusive economic empowerment of female-led funds in Pan-Africa,” said Sarah.

Related Topics:Featured Investment Kuramo Capital Moremi Capital

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

1 day ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

2 days ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.