Thousands of small businesses in Cameroon are set to gain greater access to financing, thanks to a new partnership between the International Finance Corporation (IFC), a global development institution and Afriland First Bank Cameroon, a player in Cameroon’s financial sector.

The partnership aims to provide up to USD 60 M in funding to help businesses expand, innovate, and create jobs.

With USD 20 M coming from IFC’s own funds and USD 40 M mobilized from other lenders, this initiative is set to bridge the financing gap that has long held back SMEs, particularly those led by women. A key component of the effort is the Women Entrepreneurs Opportunity Facility (WEOF), which will provide performance-based incentives to encourage more lending to women-led businesses.

This partnership goes beyond just financial support. IFC will also provide advisory services to Afriland First Bank, strengthening its ability to serve SMEs by enhancing its risk management framework and developing new financial products tailored to the needs of small businesses. By addressing these structural barriers, the collaboration aims to create a more inclusive and dynamic business environment in Cameroon, giving entrepreneurs the resources and confidence to expand their operations.

Afriland First Bank stands as a leader in Cameroon’s financial sector, with a strong commitment to business financing. As of December 2024, its customer loans totaled CFAF 988.17 B (USD 1.7 B), reflecting its strategic role in economic development within Cameroon and the broader CEMAC sub-region.

The bank offers innovative financial solutions tailored to individuals, institutions, and businesses of all sizes, supported by an extensive network of branches and international correspondents. Recognizing the essential role SMEs play in economic progress, Afriland First Bank has developed specialized mechanisms and platforms to connect businesses in complementary sectors and foster collaboration. Through forums for knowledge-sharing and networking, the bank continues to reinforce its commitment to driving growth and social progress in Cameroon.

For Afriland First Bank, this initiative with IFC aligns with its vision. Célestin Guela Simo, CEO of Afriland First Bank, emphasized the transformative potential of the partnership, highlighting that SMEs are the backbone of Cameroon’s economy. He expressed enthusiasm about working with IFC to scale up financing for small businesses, enabling them to play a larger role in national development.

His sentiments were echoed by Dahlia Khalifa, IFC’s Regional Director for Central Africa and Anglophone West Africa, who reaffirmed IFC’s commitment to private sector-led growth. She underscored that empowering SMEs will not only foster innovation but also generate employment and strengthen economic resilience.

The initiative also fits into with IFC’s broader strategy for Cameroon, which focuses on enhancing digital infrastructure, strengthening domestic value chains—particularly in agriculture—and addressing urban infrastructure challenges, including renewable energy solutions. By working to improve the overall business environment, the IFC seeks to accelerate Cameroon’s transition to a more climate-resilient and diversified economy.

IFC, a member of the World Bank Group, is the largest global development institution dedicated to the private sector in emerging markets. It operates in more than 100 countries, leveraging its capital and expertise to create opportunities and drive sustainable economic growth. In the fiscal year 2024, IFC committed a record USD 56 B to private companies and financial institutions, underscoring its role as a key player in global development.

With enhanced financial access and strategic support, this partnership is set to unlock opportunities, fuel business expansion, and build a stronger, more resilient economy for Cameroon.

When Nour Emam, Co-Founder and CEO of Egyptian femtech platform Daleela by Motherbeing, recounts a moment from her entrepreneurship journey, it encapsulates the daily deep-seated challenges female founders face.

“One moment that sticks with me was during a pitch where, despite solid traction and user growth, an investor asked, ‘But how do you know Arab women even want to talk about these topics?’” she tells WT.

This loaded question wasn’t just about market validation, Emam says, but a subtle reminder of the systemic bias that boxes women, particularly those daring to disrupt sensitive sectors like women’s health.

For Emam, a notable entrepreneur, doula and reproductive health activist whose company confronts taboo topics around sexual and reproductive health among women, the question was less about risk assessment and more about challenging centuries of silence and stigma surrounding women’s bodies.

Africa is paradoxical. It leads the world in female entrepreneurial activity, with women representing 26% of total entrepreneurial endeavours. And yet, female-led startups remain grossly underfunded. In 2024, while male-led ventures attracted around USD 2 B, per one research, female-led startups secured a mere 2% of that.

Another research estimates a staggering USD 42 B funding gap for Africa’s women entrepreneurs. Such figures paint a picture of a market rich in potential yet strangled by entrenched biases and an ecosystem that still largely sidelines women.

More than a Capital problem

Akinyi W. Ooko Ombaka, Head of Portfolio Success at Madica, explains that the challenges are rooted in a web of intersecting issues. “The challenges faced by women-led businesses intersect and compound across multiple channels,” she notes.

Investor bias, she explains, often pigeonholes female founders into ‘traditional’ sectors like education or care economies, which are viewed as less catalytic for rapid growth. Yet, beyond the bias, Ombaka argues that the real game-changer is access to networks; be it mentorship, sponsorship, or robust community connections.

“From a strategic and cultural perspective, we’ve failed to address these challenges as an investment community because our interventions do not take diversity, equity and inclusion seriously. Tactically, we haven’t invested the resources to back these founders in a meaningful way,” she adds.

Madica’s approach, however, offers a counter-narrative. With a portfolio that includes over 50% female founders, Ombaka says Madica has honed a rigorous due diligence process and crafted an 18-month support program tailored to each founder’s specific needs. But she candidly admits that such an intensive, hands-on approach is resource-heavy, and few funds have the capacity—or the will—to replicate it.

Ombaka challenges top African VCs to radically change their playbook. “The numbers already demonstrate that having diverse teams and investing in women-led businesses is not only smart but also profitable,” she says.

“Investing in African businesses requires more—more time, more capital, more support. If you aren’t willing to play the long-term game, you’re in the wrong place or you haven’t found the right partners to do it.”

For Ombaka, acknowledging what hasn’t worked is the first step toward actionable change. “We must be actionable in our approach by sharing more instances of what’s working and tag-teaming best practices to build upon,” she stresses, hinting at a collaborative future where co-investment and founder-first approaches become the norm.

A Founder’s Battle

For Emam, the journey is as much about building a community as it is about securing funding. Reflecting on the investor’s question about Arab women’s willingness to engage with taboo topics, Emam is unapologetic.

“If I were a man building a crypto app or a logistics platform, I wouldn’t be asked to prove that my audience was ready for innovation. But as a woman building for women, I’m expected to justify our right to speak openly about our health,” Emam asserts. Such biases, she adds, are not merely annoying but actively stymie progress and reinforce an inequitable status quo.

Emam’s response to these challenges is both practical and empowering. “Build your audience before your investor deck,” she advises emerging founders. By fostering a community and accumulating tangible user engagement, female founders can create an unassailable narrative that data and human stories alike support.

Her journey with Daleela by Motherbeing, which uses an AI-powered assistant to empower Arab women in managing their sexual and reproductive health, is a testament to this strategy. Her approach has not only built credibility but also forced investors to confront their preconceptions with hard evidence: millions of views, thousands of comments, and robust conversion rates that tell a story of significant market demand.

Emam, recognised as one of the BBC 100 Most Influential Women of 2024, is also pragmatic about the current VC ecosystem. “The short answer is: we need both,” she explains when asked whether women should entirely retreat from the traditional VC model.

While alternative funding ecosystems—bootstrapping, revenue-first models, community-driven funds—are proving their worth, abandoning the VC route altogether would mean ceding influence in shaping the future of tech investment. Instead, the goal, she believes, should be to redesign the table.

“That means more women writing checks, more funds prioritising gender-lens investing, and more founders holding VCs accountable for their pipelines,” Emam suggests.

Numbers That Speak

Broader industry data underscore these personal accounts. African startups have seen funding declines across the board with male-led ventures continuing to pull in billions, while female-led initiatives languish.

Studies from Disrupt Africa reveal that out of nearly 2,600 startups surveyed, only 17.3% had at least one female co-founder, and a mere 11.1% were helmed by a female CEO. In Nigeria alone, only 10% of funded startups were female-founded, receiving just 0.7% of the total deal volume in a market worth USD 600 M.

The disparity becomes even starker when dissected further. Female CEOs received just USD 48 M in funding in 2024, per The Big Deal, while solo male founders raised USD 430 M and all-male teams secured USD 1.6 B.

Such figures are not isolated anomalies but part of a broader trend that sees less than 5% of Africa’s tech funding going to all-female founding teams over nearly a decade. These statistics reveal an ecosystem where impressive entrepreneurial activity by women is systematically undermined by inadequate access to capital.

However, compared to other regions, Africa does present a slightly better picture. A 2024 Pitchbook report noted that companies founded solely by women in the US and Europe received only 2% and 1.8% of total capital respectively, while Africa’s figure hovered at 8.2%. This relative advantage, however, does little to mask the overall systemic exclusion that women face globally.

Toward a More Inclusive Future

The conversation around gender funding gaps in Africa’s tech ecosystem is not solely about lamenting the status quo. It is also a call to action for all stakeholders, from investors to founders to policymakers.

Initiatives like Madica, which offer comprehensive support and clear investment theses focused on underrepresented founders, demonstrate that change is possible when the right mix of resources, mentorship, and strategic clarity is in place.

Both Ombaka and Emam stress that the road to parity is paved with honest introspection and radical rethinking of existing models. They opine that investors must be willing to reallocate resources, share success stories, and challenge their own biases, while founders are encouraged to leverage community support and build compelling narratives that defy stereotypes.

As Emam succinctly puts it, “In 2025, storytelling is a growth strategy. Don’t just pitch investors—create content, own your voice, build public proof. That credibility compounds faster than you think.”

The stakes are high. With studies estimating that achieving gender parity could boost global GDP by up to USD 12 T, the economic imperative to empower female entrepreneurs is undeniable. The challenge is to transform these figures into actionable change.

After two years of fundraising, Inspired Evolution, a Pan-African private equity firm specializing in clean energy infrastructure and energy transition investments, has closed its Evolution III Fund at USD 238 M, marking a major step forward in Africa’s clean energy transition.

The fund’s final close, completed on March 3, 2025, strengthens the firm’s position as a major player in the continent’s energy transition and underscores growing investor confidence in Africa’s renewable energy potential.

The journey began in March 2023, when Evolution III held its first close at USD 199.4 M, backed by leading institutional investors, including the European Investment Bank (EIB), FMO, the African Development Bank (AfDB), Finnfund, and Swedfund, among others. A year later, in May 2024, a second close brought in ten new investors, including the Mauritius Investment Corporation (MIC) and a group of impact-focused backers through Align Impact. The momentum continued into 2025, with Oesterreichische Entwicklungsbank (OeEB) and the International Finance Corporation (IFC) adding their commitments in the final stretch.

With the fund fully subscribed, Evolution III has already deployed capital into two major renewable energy players. In September 2023, it made its first major investment in Red Rocket Group, a renewable energy independent power producer (IPP) focused on wind, solar, and hydro projects across Africa, particularly in South Africa. Alongside its co-investors, Evolution III acquired 75% of the company, injecting USD 160 M to expand its 10+ GW pipeline of renewable energy projects.

The fund’s second investment came in February 2024, when it took a minority stake in the majority holding consortium of Equator Energy Ltd, East Africa’s leading provider of commercial and industrial (C&I) solar solutions. The investment is set to help Equator Energy scale its operations to 300 MW over the next four to five years, expanding access to clean power for businesses across the region.

For investors, the need to support Africa’s clean energy transition is becoming increasingly urgent. Cláudia Conceição, IFC’s Regional Director for Southern Africa, pointed out that the continent’s rapid population growth makes expanding access to sustainable power a top priority. “Africa will soon account for one-fifth of the world’s population, and the demand for energy will only rise. Investing in clean power is not just an environmental necessity—it’s an economic imperative. Our investment in Evolution III aligns with ‘Mission 300,’ the World Bank Group’s initiative to accelerate electrification in Africa.”

The same sense of urgency is driving European development banks to commit more resources to Africa’s energy future. Sabine Gaber, Executive Board Member at OeEB, emphasized the need for long-term, climate-focused investments. “Developing economies are bearing the brunt of climate change. That’s why we are strengthening our commitment to green finance in Africa. Inspired Evolution has a proven track record, and we’re proud to partner with them to help scale renewable energy solutions across the continent.”

For Inspired Evolution, the success of Evolution III is a reflection of both the confidence investors have in its strategy and the growing recognition that Africa’s energy landscape is at a turning point. Wayne Keast, Co-Founder and Managing Partner, called the USD 238 M close a significant achievement given the challenges of the fundraising environment. “This level of commitment from 19 investors is a testament to the trust in our vision and execution. Evolution III is designed to accelerate Africa’s transition to clean energy in a way that is both commercially viable and socially impactful.”

His partner, Christopher Clarke, believes the fund’s success speaks to a larger shift in global priorities. “The momentum behind Evolution III highlights a shared understanding that Africa’s energy future cannot wait. We’re focused on financing and scaling renewable energy projects that will drive economic growth, expand energy access, and reduce carbon emissions in line with global climate goals.”

Now, with its final close secured, Evolution III is poised to play a major role in shaping Africa’s renewable energy landscape. The work ahead is clear—mobilizing capital, scaling projects, and delivering long-term impact—but Inspired Evolution has never been more ready for the challenge.

The worldwide acceptance of Forex trading has reached Nigeria. However, many people still doubt whether foreign exchange (forex) trading is lawful within Nigerian boundaries. The article explains forex trading regulations in Nigeria and provides step-by-step guidance for beginners who want to start trading legally.

Forex Trading in Nigeria: Legal Framework

Participation in foreign exchange trading exists legally in Nigeria and is subject to official regulations. The Central Bank of Nigeria (CBN) operates under Nigerian government authority to control financial activities by implementing protected rules in forex trading. All forex brokers seeking operation in Nigeria must register with the CBN which both enforces local laws and applies anti-money laundering regulations.

Under its regulatory scope, the Securities and Exchange Commission (SEC) oversees forex trading operations by managing securities and additional financial products. The Nigerian authorities control forex trading through regulatory measures to safeguard both public citizens and national financial standing.

The foreign exchange market in Nigeria operates actively. The CBN periodically enters the market to maintain stable naira exchange rates and regulate the market supply and demand for foreign currencies. Nigerian traders must confirm that their broker services come from brokers who operate worldwide, such as Octa, and maintain full legal recognition and compliance with Nigerian financial rules.

Choosing a Legal and Reliable Forex Broker in Nigeria

Selecting an appropriate forex broker determines both security and profitability in trading operations. The selection of a legal and trustworthy broker operating in Nigeria requires attention to the following criteria.

• Regulation and Licensing — Check that your broker operates under either the Securities and Exchange Commission (SEC) regulation framework or international regulatory frameworks that are highly reputable.
• Security and Transparency — The broker should offer encrypted transactions, segregated accounts, and clear trading conditions to protect traders’ funds.
• Local Adaptation — A reliable broker understands the needs of Nigerian traders, offering local payment options and customer support. For example, Octa balances global standards with local accessibility.
• Fast Deposits and Withdrawals — Select a low-cost broker that enables fast transactions for quick fund withdrawals.
• Customer Support — The broker must uphold continuous communication support through phone, chat, or email.

Risks and Challenges in Forex Trading in Nigeria

The Nigerian foreign exchange trading market presents substantial business opportunities for traders needing to handle different market challenges and risks. Knowledge of these factors becomes essential before starting in the market. The following list includes the main risks that Nigerian traders need to face:

1. Market Volatility

The foreign exchange market maintains high volatility because prices show rapid fluctuations. Financial losses can be avoided through prudent management when trading in this market that provides significant financial gains. Stop-loss orders operate as risk control instruments that every trader must implement for forex market volatility management.

2. Unregulated Brokers

The absence of broker regulation creates significant investment dangers for traders because of fraudulent brokers. Working with unregulated brokers who make false promises and fail to provide proper customer service may result in fund theft from your account. For investment safety, choose a broker that operates under legal regulations and holds a recognized status, such as Octa. If you’re looking for a trusted platform that adheres to global and local regulations, you can login Octa broker and trade with confidence.

3. Currency Fluctuations

The Nigerian naira experiences regular changes because of both economic conditions and political events. The value fluctuations of the Nigerian naira affect the profitability of foreign exchange trading particularly when trading currency pairs that include the naira. Traders need to monitor both domestic and global economic occurrences which influence currency exchange values.

4. Payment and Withdrawal Issues

Some trading brokers provide restricted payment methods for Nigerian traders. Nigerian traders experience difficulties when dealing with withdrawal delays and excessive fees and insufficient withdrawal methods. Selecting a broker with efficient payment solutions for Nigerian users becomes vital because Octa stands out for its reliable and secure transaction methods.

5. Regulatory Changes

The current state of Nigerian forex regulations might change, impacting how traders operate their businesses. Changes made by governments through policy modifications, currency management, and trading regulations will affect forex trading operations. Business traders must maintain awareness of regulatory changes to prevent potential legal issues.

6. Scams and Fraudulent Activities

The occurrence of Forex scams reaches epidemic levels in markets that lack proper regulatory supervision. The trading industry faces rampant scams which include Ponzi schemes together with fake signals and fake promises of quick financial success. Research your broker thoroughly before making a decision because suspicious deals should be avoided.

How to Start Forex Trading Legally in Nigeria

Nigerian residents can easily initiate forex trading provided they implement proper procedures. The essential starting point for forex trading requires Nigerian traders to register with a lawfully regulated broker. Select brokers that hold licenses from both CBN and SEC to ensure Nigerian traders have the required legal protection.

Establishing a trading account becomes your next step after choosing your broker. Octa and most other brokers require standard identification documentation together with proof of your address to start the verification process. Account protection from fraud together with anti-money laundering law compliance in Nigeria depends on this essential verification step.

After successful verification of your trading account, you need to fund your trading account. It is crucial to choose a broker that provides Nigerian traders with safe payment options that are easy to use. The payment options provided by Octa include multiple choices which enable smooth transactions for Nigerian traders.

You can access your Octa broker account to begin market exploration after your trading readiness. Trading on the platform becomes accessible to novices because its interface presents an easy-to-use format.

Ensuring Safe and Legal Forex Trading in Nigeria

The Nigerian law allows traders to conduct forex trading through brokers with proper licenses and official approvals. The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) operate a regulatory system that safeguards traders. Nigerian traders must select a dependable broker, such as Octa, for their trading activities because this platform satisfies international requirements while meeting national needs. Nigerian traders can experience profitable and secure forex trading when they follow correct legal procedures while selecting brokers who operate under regulatory oversight. Your success depends on responsible trading and continuous market information to achieve maximum results.

Mediterrania Capital IV (MC IV), a private equity fund focused on North and West Africa, has gained fresh backing from German development finance institution DEG, which has increased its investment by an additional EUR 15 M (USD 16.2 M).

This new capital injection brings DEG’s total stake in the fund to EUR 25 M (USD 27 M), reinforcing its confidence in MC IV’s ability to foster economic growth, support local businesses, and create jobs in some of the continent’s fastest-growing sectors.

Since its launch, MC IV, which is managed by private equity firm Mediterrania Capital Partners, has focused on investing in mid-sized companies with strong growth potential, targeting sectors essential to the region’s economic transformation. These include healthcare, logistics, fast-moving consumer goods, education, and financial services—industries that are not only vital for development but also offer significant investment opportunities.

The fund’s approach is to acquire minority stakes in well-established businesses, providing them with both capital and strategic expertise to scale operations and expand into new markets. With plans to invest in 8 to 10 companies, each receiving between EUR 20M (USD 21.6 M) and EUR 50M (USD 54 M), MC IV aims to drive long-term, sustainable growth. Approximately 75% of the fund’s capital is allocated to North Africa, while 25% is directed toward Sub-Saharan Africa, ensuring a broad yet focused regional impact.

DEG’s relationship with MC IV dates back to May 2023, when it participated in a EUR 75 M (USD 81 M) fundraising round that played a key role in financing the acquisition of Laprophan, a leading Moroccan pharmaceutical company. That round also attracted other major development finance institutions (DFIs), including FMO, the Dutch entrepreneurial development bank, and Proparco, the French Development Agency’s private sector arm.

Since then, MC IV has moved quickly to build its portfolio and has made strategic investments that reflect its commitment to driving growth in the region. Beyond its stake in Laprophan, the fund invested in Cash Plus, a leading Moroccan fintech company, in October 2023. These investments highlight MC IV’s ability to identify and support businesses that not only show strong financial prospects but also contribute meaningfully to the economic and social fabric of their markets.

Beyond capital investment, DEG plays an active role in strengthening MC IV’s portfolio companies through DEG Impulse, its dedicated advisory initiative. By providing business support services, DEG helps these companies improve operational efficiency, reduce CO₂ emissions, integrate renewable energy solutions, and enhance sustainability practices. The goal is not just to generate financial returns but to ensure that businesses operate responsibly and contribute to the region’s long-term stability.

MC IV is also a 2X Challenge fund, meaning it actively promotes gender equality by supporting businesses that empower women in leadership and the workforce. As part of this initiative, the fund implements targeted measures to ensure that gender diversity is not just an afterthought but a core part of its investment philosophy.

For Mediterrania Capital Partners, DEG’s increased investment represents a strong vote of confidence in its strategy and execution capabilities. With additional capital at its disposal, MC IV is well-positioned to expand its portfolio and deepen its impact on the African private equity landscape.

As the fund continues to deploy capital and scale its investments, its progress will be closely watched. With rising interest in African markets and a growing recognition of the region’s potential, MC IV’s success will serve as a measure of how private equity can help shape the next phase of Africa’s economic growth.

Inside Capital Partners has secured a major boost for its second fund, Inside Equity Fund II (IEF II), with Norwegian Investment Fund (Norfund) joining as a Limited Partner.

The additional USD 7.5 M investment from Norfund brings the fund’s total size to USD 62 M, reinforcing efforts to support small and medium-sized enterprises (SMEs) across Southeast Africa.

The partnership reflects a growing commitment to fueling businesses that drive economic transformation in the region. SMEs in Africa’s emerging markets often face a difficult financial landscape, with limited access to capital preventing them from reaching their full potential.

IEF II was designed to address this challenge, offering equity investments to businesses that show strong potential for both growth and positive impact. The fund targets sectors that align with sustainable development goals, such as clean energy, waste reduction, and gender-inclusive enterprises.

The investment comes as Inside Capital Partners builds on the momentum of IEF II’s first close, which secured USD 55 M from a mix of returning and new investors. Dutch Good Growth Fund (DGGF) and Terra Mauricia Ltd reaffirmed their commitment, while new backers include the U.S. International Development Finance Corporation (DFC), the International Finance Corporation (IFC) from the World Bank Group, Swedfund International, Mauritius Investment Corporation (MIC) Ltd, and BIO, the Belgian Investment Company for Developing Countries.

With a 10-year investment horizon, IEF II aims to support 12 high-impact businesses across Madagascar, Zambia, and Mauritius, with potential expansion into Mozambique and Tanzania.

It follows the success of Inside Capital’s first fund (IEF I), which fully deployed USD 35 M into six companies across industries such as waste recycling, renewable energy, packaging, building materials, and hospitality. IEF II aims to continue this strategy, targeting businesses that not only demonstrate strong growth potential but also contribute to sustainable development.

Jérôme Lagesse, Managing Partner at Inside Capital Partners, emphasized the significance of this investment, describing it as a critical step toward creating lasting change. “At Inside, we see investment as more than just capital—it’s a catalyst for transformation. By welcoming Norfund as a partner, we are reinforcing our commitment to high-impact SMEs, unlocking economic opportunities, and driving sustainable development where it’s needed most.”

Beyond financial returns, IEF II integrates a strong Environmental, Social, and Governance (ESG) framework into its investment process. The fund follows ESG screening processes aligned with EDFI standards and applies IFC Performance Standards to conduct environmental and social due diligence on potential investees. This ensures that each investment aligns with sustainable development goals and contributes to positive social and environmental outcomes.

As the fund continues to grow, so does its ambition to reshape Africa’s investment landscape. Norfund’s involvement strengthens IEF II’s ability to back businesses that are driving real economic change, providing long-term financial support to the companies that will shape Southeast Africa’s future.

Smallholder farmers in Kenya are set to benefit from a EUR 1 M (USD 1.08 M) technical assistance grant aimed at helping them adopt sustainable farming practices and withstand the impacts of climate change.

The funding, provided by Proparco, will support the Climate Resilient Agri-Food Systems (CRAFS) project, an initiative by the Equity Group Foundation (EGF) designed to equip farmers with the knowledge, tools, and financial access needed to transition to Climate-Smart Agriculture (CSA).

The agreement, signed on March 18, 2025, in Nairobi, brings together key players in Kenya’s agricultural and financial sectors. In attendance were French Ambassador to Kenya H.E. Arnaud Suquet, Proparco’s Regional Director for East Africa Jean Guyonnet-Dupérat, and Equity Group CEO Dr. James Mwangi. This partnership builds on a long-standing relationship between Proparco and Equity Group, reflecting a shared commitment to sustainable economic growth.

Kenya’s agricultural sector is the backbone of its economy, contributing 30% of GDP and 45% of export earnings while providing livelihoods for 75% of rural communities. However, climate change has made farming increasingly unpredictable, with extreme weather patterns, erratic rainfall, and soil degradation threatening productivity. Many smallholder farmers struggle to adapt, often lacking the resources, knowledge, and financial support needed to transition to sustainable methods.

The CRAFS project is designed to address these challenges head-on. Through this initiative, 15,000 farmers every year will receive hands-on training in sustainable farming techniques, access to climate-friendly financing, and support in adopting innovative solutions like water harvesting, waste-to-energy systems, and energy-efficient agricultural practices. A dedicated team will work directly with farmers, suppliers, and value chain partners to ensure these changes are implemented effectively.

For France, this partnership represents a broader commitment to supporting Kenya’s economic transformation. Ambassador Arnaud Suquet emphasized the significance of the initiative, stating: “Agriculture is central to employment, food security, and sustainability in Kenya. This collaboration between France, through Proparco, and EGF will help empower local farmers, demonstrating how impactful partnerships can drive real change in agriculture, fintech, health, and renewable energy.”

Jean Guyonnet-Dupérat, representing Proparco, highlighted the importance of working with established partners like Equity Group. “We are proud to strengthen our collaboration with Equity, a key player in Africa’s financial ecosystem. Through EGF, they are creating real impact by supporting farmers and innovators in the agricultural sector. Proparco is committed to backing initiatives that drive sustainable growth.”

For Dr James Mwangi, the initiative is a crucial step toward securing a resilient agricultural future for Kenya. “This is about empowering farmers to succeed in an unpredictable climate. By embracing Climate-Smart Agriculture, we are giving them the knowledge, financial support, and tools to increase productivity while reducing their environmental footprint. The challenges are significant, but with the right support, smallholder farmers can thrive and contribute to a more sustainable future.”

As Kenya continues to face the realities of climate change, initiatives like CRAFS are not just about survival—they are about long-term prosperity. With backing from Proparco and Equity Group, thousands of farmers will gain the skills and resources needed to adapt, ensuring food security and economic stability for the future.

Swedfund, Sweden’s state-owned development finance institution, is deepening its commitment to Africa’s economic future with a USD 16.3 M investment in AfricInvest’s Small Cap Fund, a private equity fund managed by a leading pan-African investment platform, AfricInvest.

This strategic move is designed to bridge the financing gap that hinders small and medium-sized enterprises (SMEs) from reaching their full potential, unlocking growth opportunities in sectors that drive innovation, employment, and long-term development.

Across Africa, SMEs serve as economic engines, yet many face significant barriers to accessing capital. By channelling funds through AfricInvest, Swedfund is ensuring that high-potential businesses get the financial backing they need to scale sustainably.

With an ambitious fundraising goal of up to EUR 180 M (USD 187 M), the fund will focus on supporting SMEs across a broad range of industries, from agribusiness and healthcare to education, consumer goods, manufacturing, and services—sectors that are crucial for social and economic transformation.

“This investment strengthens our ability to support underserved businesses across Africa,” says Sofia Gedeon, Investment Director for Sustainable Enterprises at Swedfund. “AfricInvest’s approach aligns with our mission to drive economic growth, create jobs, and set new standards for responsible investing. We are not just financing businesses; we are investing in sustainable development and inclusive progress.”

AfricInvest already has an extensive track record, having raised over USD 2.3 B and backed nearly 230 companies in 38 African countries. Its Small Cap Fund had previously secured funding from Proparco, the private sector financing arm of the French Development Agency, along with a proposal from the International Finance Corporation (IFC), a member of the World Bank Group. Their combined support underscores the fund’s potential to create a meaningful impact by fostering business expansion and job creation across the continent.

The fund integrates rigorous environmental, social, and governance (ESG) principles into its investment strategy, with a strong emphasis on gender equality and sustainability. At least 30% of its portfolio is allocated to women-led businesses or companies with substantial female ownership, reinforcing the link between inclusive business practices and long-term prosperity. In addition, climate-conscious investment strategies are embedded in its operations, ensuring that growth does not come at the expense of environmental responsibility.

This latest commitment follows Swedfund’s USD 20 M investment in AgDevCo earlier this month, which is dedicated to strengthening agribusinesses across sub-Saharan Africa. That funding aims to improve food security, increase rural productivity, and support SMEs that produce nutritious food for both local markets and high-value exports.

With each investment, Swedfund continues to champion sustainable business development, economic inclusion, and a more resilient African business landscape, ensuring that SMEs have the resources and guidance they need to grow responsibly and effectively.

Africa’s economic growth is accelerating, yet many promising businesses still struggle to access the capital needed to scale.

To help bridge this gap, UK development finance institution and impact investor, British International Investment (BII), has committed USD 20 M to the Alterra Africa Accelerator Fund (AAA Fund), a private equity fund focused on driving financial inclusion, digital transformation, job creation, and women’s empowerment across Africa.

Managed by Alterra Capital Partners, an Africa-focused private equity firm, the AAA Fund is targeting a total raise of USD 400 M to support transformative businesses in high-growth sectors.

By investing in companies that provide essential goods, services, and business solutions—primarily in East and Southern Africa—the fund is positioned to drive sustainable development while delivering strong returns. BII’s investment is expected to further support AAA Fund’s capital deployment into a diversified portfolio of impactful businesses.

But it isn’t only BII that has recognized the fund’s potential for impact, other global investors have continued to back its mission. Since the first close of the AAA Fund at USD 140 M in 2023, it has continued to attract capital from major global investors and financial institutions including Norfund AS, Standard Bank Group, International Finance Corporation (IFC), Allianz SE’s AfricaGrow Fund, and private equity veterans David Rubenstein and Bill Conway, co-founders of Carlyle.

Beyond financial backing, the AAA Fund is also driving inclusion. The AAA Fund qualifies as a 2X Investment in 2023 under the 2X Challenge, of which BII is a founding member. As part of this, Alterra has committed for all of its portfolio investments to align with at least one of the 2X Criteria over the life of the Fund. This will be achieved through Alterra’s proactive approach to working with investees on gender value-added opportunities. 

For Alterra Capital Partners, BII’s commitment marks a significant milestone. Alterra was formed in 2020 when the Carlyle Africa team spun out, later integrating the Anglophone team of Emerging Capital Partners. With more than 100 years of combined private equity experience and a track record of investing USD 1.9 B into 20 companies across Africa, the Alterra team has deep expertise in backing businesses that serve fundamental consumer and business needs.

For BII, this investment aligns with its strategy of channelling capital into businesses that strengthen Africa’s economies. “We are delighted to work with Alterra’s experienced team to empower businesses that drive growth in Africa’s emerging economies,” said Sara Taylor, Head of PE Funds and Co-Investments at BII. “Our investment ensures capital reaches a diverse range of companies, fostering productive, sustainable, and inclusive development.”

Geneveive Sangudi, Partner at Alterra, echoed this sentiment: “BII’s commitment adds invaluable credibility and resources to our strategy of advancing sustainable and inclusive growth in Africa. This investment will accelerate our efforts to support transformative businesses, particularly in high-growth sectors that are essential to Africa’s economic future.”

With strong institutional backing and a focus on scaling businesses that directly impact millions of lives, the AAA Fund is poised to provide long-term support to businesses that are essential to Africa’s economic progress.

In a major push toward sustainable development, Standard Bank South Africa has secured a USD 250 M loan from the International Finance Corporation (IFC) to expand green financing in the real estate sector. The seven-year unsecured loan is expected to make eco-friendly housing more accessible while helping property developers overcome the steep upfront costs of sustainable construction.

At its core, the initiative aims to break down financial barriers that often prevent developers from investing in energy-efficient materials, water-saving systems, and green certification. Many developers and homebuyers recognize the long-term benefits of green buildings—lower electricity and water costs, increased property value, and a reduced carbon footprint—but struggle with the initial expenses. With this funding, Standard Bank plans to offer tailored financial solutions that encourage sustainable construction without adding financial strain.

The funds will support greenfield projects across industrial, retail, and residential sectors, with a strong emphasis on affordable housing. As South Africa’s cities expand and urbanization accelerates, the need for resource-efficient homes is greater than ever. Green housing is no longer just about environmental responsibility—it’s a practical solution to rising utility costs and ongoing energy supply challenges.

“South Africa’s property sector presents immense growth potential, and with rising urbanization, the demand for sustainable, resource-efficient developments has never been greater,” says Kenny Fihla, Deputy CEO of Standard Bank Group and CEO of Standard Bank South Africa. “This collaboration allows Standard Bank and its clients to meaningfully grow a more sustainable real estate landscape.”

But this is more than just a loan. The IFC funding is also accompanied by a performance-based incentive, backed by the UK’s Department for Energy Security and Net Zero. The incentive will help developers and homeowners offset the cost of green certification, making it easier to meet international sustainability standards.

This partnership is part of a broader strategy by both Standard Bank and IFC to scale up green financing in emerging markets. Standard Bank will leverage the IFC’s Market Accelerator for Green Construction (MAGC) program, which is designed to fast-track the development of certified green buildings, particularly in high-impact areas like affordable housing.

For the IFC, this initiative aligns with its mission to support sustainable and inclusive growth. “IFC is pleased to expand its collaboration with Standard Bank, our longstanding partner in South Africa, to help widen access to finance for certified green buildings,” says Cláudia Conceição, IFC’s regional director for Southern Africa. “As we continue to champion innovative blended finance solutions for high-impact segments—such as affordable housing and women homeowners—IFC is helping to drive a more sustainable future while supporting economic resilience.”

Standard Bank is no stranger to the green financing space. Already a dominant player in residential home loans, the bank has seen rapid growth in its green home loan portfolio over the past two years. These certified homes adhere to strict environmental standards, significantly cutting energy and water consumption while offering long-term savings to homeowners.

With the new IFC funding, Standard Bank aims to cement its position as South Africa’s leading financier for sustainable housing. The bank’s sustainability strategy aligns with the growing market demand for green real estate solutions, especially as energy and water security remain critical challenges.

For homebuyers, this means more opportunities to own a home that is both environmentally friendly and cost-effective. For developers, it’s an opportunity to build for the future without being held back by high certification costs. For Standard Bank, it’s another step toward its vision of driving sustainable development while creating long-term financial value.

As South Africa grapples with energy shortages, rising utility costs, and urban expansion, this kind of investment is becoming increasingly critical. Standard Bank’s latest partnership with IFC signals a shift toward a greener, more financially inclusive real estate sector—one where sustainability is no longer an option but a standard.