The event brought together founders, venture capital investors, corporate venture arms, philanthropic organisations and policymakers to examine the state of Africa’s private capital ecosystem.

AVCA Chief Executive Officer Abi Mustapha-Maduakor opened the summit and commended the resilience of the venture capital sector through difficult funding cycles.

She said that despite tougher fundraising conditions, “venture-backed exits reached a record high in 2025,” pointing to what she described as a shift in the market. She added, “The centre of gravity is moving toward local capital, local expertise, and local conviction.”

A keynote fireside conversation followed between actor and investor Boris Kodjoe and AVCA’s CEO. Kodjoe focused on how perception influences investment decisions and market behaviour. He said, “Storytelling is economic architecture, those who control the narrative shape valuation, and perception is what drives investment.”

The AVCA VC summit then moved into deeper industry discussions on the structure of venture capital in Africa.

A panel titled From Hype to Fundamentals: Resetting the African VC Story brought together Tidjane Dème of Partech Partners, Sapna Shah of Novastar Ventures, Fatoumata Bâ of Janngo Capital, and Mohamed Eissa of the International Finance Corporation (IFC).

The session focused on whether global venture capital models align with African market realities and where expectations have not matched outcomes.

Tidjane Dème pushed back against the idea that the ecosystem is underperforming. He quoted Ido Sum, saying, “African venture capital isn’t broken, it’s just young.” 

He added, “A decade ago, we saw around 30 deals a year; today, that number exceeds 500. We’re still building, and we can’t compare ourselves to a 50-year-old U.S ecosystem just yet. We have time.”

Mohamed Eissa also highlighted the scale of growth in funding. “This ecosystem is still very young, but it has grown from about $400 million of annual investment to roughly $4 billion in just over a decade, clear evidence that the capital base is expanding, even if it’s still not enough.”

Attention later shifted to exit routes and liquidity challenges in the market. Industry participants including Patricia Rinke of AfricInvest, Ibrahim Sagna of Silverbacks Holdings, and Andreata Muforo of TLcom Capital discussed the importance of collaboration in improving exits.

They also pointed to mergers, acquisitions and strategic sales as more practical liquidity options than public listings in many cases.

Speaking on the role of domestic capital, Alex Rumanyika of Uganda’s National Social Security Fund (NSSF) called for stronger participation from African institutional investors.

He said, “If we don’t get into this space, it is going to be an existential threat for NSSF and many pension funds. We need to diversify away from overexposure to government assets and into the sectors where jobs are actually being created.”

The conference was followed by a Private Credit Summit, where investors discussed new financing approaches shaping Africa’s private capital market. The focus shifted to credit strategies and how they are expanding funding options for businesses across the region.

Nathaniel Micklem of Ninety One said, “Private credit is one of the most exciting parts of our asset management platform, but it cannot be built using imported public equity or private-equity instincts. What works in Africa is deploying into stronger, more resilient businesses and sectors, not earlier-stage ventures or smaller SME exposures.”

Walid Cherif of BluePeak Private Capital said private credit continues to gain relevance in Africa due to its flexibility in markets where exits remain limited.

He said, “Private credit is especially suited to African markets because companies continue to perform even when exits are hard to achieve. It is an easier conversation today than it was years ago.”

He added that discipline is essential in the sector, noting that credibility with investors depends on long-term execution and returns, not just strong market narratives.

The post AVCA Spotlights African Diaspora Capital, Exit Pathways and Private Credit as Key Drivers of Growth Across the Continent appeared first on Tech | Business | Economy.

Being the largest equity raise ever for an Ivorian startup, this achievement follows a $14 million Series A round in 2022. The Y Combinator-backed fintech is on a mission to make banking more accessible and affordable, and this is just the beginning.

Djamo was co-founded by Hassan Bourgi and Régis Bamba in 2020. Ever since, the company has successfully tapped into the largely underserved populations of Ivory Coast and Senegal. 

Unlike its competitors focusing on larger African markets like Nigeria and South Africa, Djamo is carving out a distinct niche in the Francophone market. With over one million customers, the startup is now expanding its service offerings to include savings vaults, investment products, and even salary-linked bank accounts.

Bourgi, who serves as the CEO, shared that Djamo’s valuation has doubled since its last round of funding, although he declined to disclose the precise figure. The company’s vision has always been to create a financial service that bridges the gap between mobile money and traditional banking, offering both accessibility and depth. 

In a region where traditional banks are usually inaccessible to the majority, mobile money has become the go-to solution. However, while mobile money has expanded financial inclusion, it still lacks more advanced banking features like credit, investments, or long-term savings—services Djamo now provides.

Bourgi explained the dynamic needs of Djamo’s users, saying, “These users are evolving. But they don’t want to go where their parents went, into institutions with predatory pricing and aren’t adapted to the new generation of customers. And this is what we are building, trying to become the go-to bank for this huge cohort of customers that is evolving now to more complex, wealth-building financing opportunities.”

Since its last round, Djamo has also broadened its service offerings. Beyond simple card payments and peer-to-peer transfers, it now offers brokerage services, enabling users to invest in local markets. As the first fintech in the region to receive a fintech-issued brokerage license, Djamo is uniquely thriving in the financial services space.

While Djamo has attracted a growing number of banked users who treat it as a secondary account, it is the unbanked segment that presents the most significant long-term potential. In fact, over 55% of Djamo’s customer base falls into this category, and nine in ten of those using Djamo as their primary financial account come from this group.

However, reaching these unbanked users comes with its own set of challenges. To address this, Djamo has adopted a hybrid approach, combining its app with offline agents who meet customers in person to facilitate transactions—much like the mobile money model used across Africa.

One of the next steps for Djamo is expanding its customer base to include salary earners. Currently, only 5-10% of users receive their salaries through the app. Bourgi aims to increase this figure, with a goal of having 50% of its user base receiving direct salary deposits into Djamo.

Simultaneously, Djamo is enhancing its services for small businesses, which make up a growing segment of its customer base. Many of these businesses started as retail users and are now using the platform for bulk payments, payment links, and QR code tools to accept payments. 

According to Chief Technology Officer Régis Bamba, Djamo is also exploring additional revenue streams, including lending and earning interest on customer deposits.

Bamba revealed that Djamo’s revenue has grown fivefold since 2022, and it has processed more than $4.5 billion in transactions. With its recent expansion into Senegal, Djamo now competes in a market dominated by Wave, another mobile money giant in the region. 

However, Djamo isn’t positioning itself as a direct competitor but as a complementary service, offering users advanced financial tools that Wave and other mobile money platforms lack.

The startup’s latest funding round, led by Janngo Capital, will further ensure its expansion across Francophone Africa. Fatoumata Bâ, the founder of Janngo Capital, highlighted the impact of Djamo’s work, particularly in closing the gender gap in financial access. 

“In a region where fewer than 25% of adults have access to formal financial services, and where women are twice as likely to be excluded, this is a vital mission. With women making up a third of its users, Djamo is not only closing the gender gap but unlocking economic opportunity at scale.”

The post Djamo Secures $17M, Largest Ever Equity Raise for Ivorian Startup appeared first on Tech | Business | Economy.

With backing from partners such as the African Development Bank (AfDB) and European Investment Bank (EIB), this fund seeks to accelerate African entrepreneurship and drive job creation, particularly for youth and women.

Through a comprehensive strategy, Janngo provides African small and medium-sized enterprises (SMEs) with digital resources to enhance their market reach and operational capacity. 

The firm, led by founder and executive chair Fatoumata Bâ, emphasises that sustainable economic growth in Africa relies on strong ecosystems that bolster digital platforms and also provide essential training for professional development.

This strategy addresses essential needs of SMEs—key drivers of Africa’s economy—by facilitating access to markets, streamlining supply chains, and encouraging financial stability. 

In Africa, SMEs generate 17% of GDP and employ 85% of the workforce, yet they face challenges due to inadequate funding and resources. Janngo’s approach responds directly to these issues by providing capital, training, and scalable digital solutions that empower these businesses.

Janngo Capital also aims to address the underrepresentation of women in Africa’s entrepreneurial sector. Its portfolio includes notable female-led enterprises, such as Nigeria’s B2B e-commerce platform, Sabi, aligning with Janngo’s focus on gender inclusivity and impact investment. 

Bâ explains that while Africa has the world’s highest rate of female entrepreneurship, only a small percentage of global venture capital flows to female founders. Investing in diverse founders and ventures beyond fintech would enable Janngo to change this.

In addition to gender diversity, the firm’s investments are strategically distributed across various sectors, from healthcare and financial services to agritech and logistics. The team, with expertise spanning technology, marketing, and environmental, social, and governance (ESG) practices, actively collaborates with portfolio companies. 

Janngo’s “hands-on” approach is central to its operations, supporting businesses in reaching market fit, expanding into new regions, and building solid product foundations.

With a presence in Abidjan, Mauritius, Tunis, and Paris, Janngo aims to back 25-40 companies over the next five years, extending the fund’s reach beyond its original 25-company target. In providing investment sizes between €150,000 and €5 million, Janngo ensures startups from Seed to Series B stages can access the necessary support to scale.

The success of Tunisian expense management platform Expensya and Nigerian B2B e-commerce platform Sabi exemplifies Janngo’s strategy, with the former securing a ~$120 million acquisition and the latter generating approximately $1 billion in annual gross merchandise volume. 

Janngo’s proactive approach, evident in these high-profile exits, is a signal to investors of Africa’s expanding investment opportunities and the tangible returns that impactful venture capital can yield.

The post Janngo Capital Closes €73M Second Funding Round to Drive Growth, Inclusion for African SMEs appeared first on Tech | Business | Economy.

With the investment, YoLa Fresh aims to enhance the efficiency and sustainability of agricultural operations by leveraging advanced technology.

Leading the funding round was Al Mada Ventures, supported by other investors including Algebra Ventures, E3 Capital, Janngo Capital, and the Dutch Entrepreneurial Development Bank (FMO). These investors recognize the huge prospects of YoLa Fresh to address growing challenges in the agricultural sector.

Co-founded by Larbi Alaoui Belghiti and Youssef Mamou, YoLa Fresh directly connects smallholder farmers with traditional retailers of fruits and vegetables. Through the elimination of intermediaries, the platform enables retailers to purchase produce at lower costs while ensuring farmers receive higher profits quickly. 

This direct connection also helps synchronize supply and demand, reducing food waste and improving overall efficiency.

YoLa Fresh’s platform employs data analytics, machine learning, and AI to create predictive algorithms for demand and supply, pricing dynamics, and other variables in the highly perishable produce supply chain. The technology simplifies the supply chain and also offers visibility into harvests and access to financing for farmers.

Larbi Alaoui Belghiti, with a background in leading tech ventures such as Jumia Express Logistics and Avito.ma, brings a wealth of experience to YoLa Fresh. Youssef Mamou, former CEO of Careem North Africa and managing partner at 212 Founders, complements this with his expertise in tech-driven business solutions.

Within its first year, YoLa Fresh has established partnerships with over 1,000 retailers in Morocco and achieved a monthly gross merchandise volume (GMV) of up to $1 million. The company’s rapid growth and the proven effectiveness of its solutions have drawn investor interest.

The investment will be used to expand YoLa Fresh’s operations within Morocco and into other African markets. The company focuses on ensuring high-quality produce, reducing wastage, and providing financing opportunities for farmers. 

Its cash offering on delivery and working closely with farmers enables YoLa Fresh to capture more market share and improve unit economics.

YoLa Fresh also plans to leverage this funding to enhance its technology, expand its customer base, and prepare for broader market penetration. The startup projects an annualized top line of $40 million to $50 million by 2026, with plans to expand into sub-Saharan Africa, where competition includes companies like Vendease and Complete Farmer.

Omar Laalej, managing director at Al Mada Ventures, is confident in YoLa Fresh’s ability to deliver huge benefits to its customers in Morocco and across Africa. 

Tarek Assaad, managing partner at Algebra Ventures, noted the positive impact of tech solutions in the agricultural sector and YoLa Fresh’s unique position to lead this change.

The post YoLa Fresh Secures $7 Million to Drive Sustainability in Africa’s Fresh Produce Supply Chain appeared first on Tech | Business | Economy.