Africa’s climate tech sector needs winners to justify recent funding jump
DFIs have become the primary funding source for African VC firms, influencing the VC landscape. Climate tech funding in Africa reached $1.04 billion in 2023, marking a 9% increase from the previous year.
Senegal Startup Rubyx Receives USD 526 K Loan from Proparco
Rubyx has secured a loan of USD 526 K from Proparco. The startup aims to facilitate the digital transformation of microfinance institutions.
Proparco Backs Rubyx to Boost Microfinance and Startups Across Africa
Proparco grants €400,000 loan to Rubyx through the Bridge by Digital Africa facility. Rubyx aims to accelerate the deployment of its algorithmic loan offering for start-ups and microfinance institutions in Africa.
OADC is a Proud Sponsor of Digital Finance Africa 2024
Digital Finance Africa 2024 conference OADC Open Access Data Centres announced as a sponsor
Homegrown African VCs emerge to fill in the gaps foreign investors cannot
Accelerated activity in the African startup scene is reported in regions beyond the traditional markets of Egypt, Kenya, Nigeria, and South Africa. Foreign VC firms accounted for 77% of total funding in 2022, highlighting the need for more local fund managers.
