Tech

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

Published

1 year ago

September 30, 2023

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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Tech

Ghana partners with The Gambia to provide free roaming services

Published

15 hours 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.