A regional multilateral development bank established to contribute to the economic development and social progress of African countries.
Nigeria’s iDICE Startup Bridge launches with grants and $100,000 equity
The iDICE Startup Bridge offers grants of up to ₦10 million and equity investments of $100,000 for startups. The initiative is implemented through the Bank of Industry and financed by major development banks.
Fintechs ask CBN for growth fund, regulator says it can only play matchmaker
Fintech operators are pushing for a dedicated growth fund or credit guarantee scheme to unlock capital for innovation and expansion. The Central Bank of Nigeria (CBN) stated it cannot directly establish venture-style financing.
Ventures Platform closes $64 million fund with Nigeria’s government as an investor
The Nigerian government is directly investing in startups for the first time through Ventures Platform. Ventures Platform has announced a $64 million first close for its second fund, VP Pan-African Fund II.
Acumen’s new $90 million Kawisafi fund to back African climate-tech startups
Acumen's KawiSafi fund has secured $90 million in approved capital for climate solutions in Africa. The fund will support companies providing clean power, sustainable transport, and affordable cooking alternatives.
Uncovered Fund, Monex Ventures partner for $20 million African VC fund
Uncovered Fund and Monex have launched the UMAIP to invest $20 million in African and Middle Eastern startups. The fund will initially invest between $100,000 and $500,000 in 30 companies, reserving half for follow-on rounds.
