After expensive lessons in Ethiopia, Renew Capital wants to back West African startups
- Renew Capital is expanding its investments in Africa, focusing on asset-light and tech-enabled businesses.
- The firm has opened its West African portfolio by investing in Affinity, a Ghanaian digital bank.
- Renew Capital partners with foreign governments to promote investing in Africa and invites foreigners to the continent to pitch investment opportunities.
Renew Capital's expansion in Africa and focus on asset-light and tech-enabled businesses shows a positive outlook for the region's startup ecosystem. The firm's partnership with foreign governments and efforts to change the perception of Africa as a place of investment are commendable. However, careful evaluation of country-specific risks and opportunities is crucial for successful investments.
