<h1>Press Release: Dabchy Enables Individuals to Monetize Their Wardrobes and Promote Circular Fashion</h1>Renew Capital invests in Dabchy to expand its circular fashion platform across North Africa and the Middle East<a href="https://latest-api.renewcapital.com/uploads/FINAL_Dabchy_Press_Release_4272959b54.pdf">Download Full Press Release</a>TUNIS, Tunisia, February 19, 2025 – <a href="https://www.linkedin.com/company/dabchy/posts/?feedView=all">Dabchy</a>, a peer-to-peer fashion marketplace, is empowering individuals to monetize their wardrobes while promoting circular fashion. The platform enables users to buy and sell clothes within a community-like environment, combining e-commerce with sustainable fashion practices.<figure class="image"><img src="/uploads/Dabchy_Team_Photo_1_0b6a8df687.jpeg" alt="A team photo of Dabchy, an early-stage startup based in Tunisia, now part of Renew Capital's portfolio."></figure>Operating in Tunisia and Egypt, Dabchy is making fashion accessible, affordable and sustainable for everyone. The platform encourages the resale of clothing, which reduces waste and promotes a shift toward more sustainable consumer habits.&nbsp;“Dabchy was created to make fashion more accessible while encouraging sustainable practices,” said <a href="https://www.linkedin.com/in/ameni-mansouri-b56a5b147/">Ameni Mansouri</a>, co-founder and CEO of Dabchy. “Our platform gives individuals the opportunity to extend the life of their clothes, save money and join a community that values fashion and sustainability.”Dabchy stands at the intersection of technology and sustainability by providing an innovative solution for reducing fashion waste. By building a community around circular fashion, Dabchy empowers users to rethink their consumption habits while creating economic opportunities for individuals.“Dabchy is driving a much-needed change in the fashion industry by promoting circular fashion and empowering individuals to monetize their wardrobes,” said <a href="https://www.linkedin.com/in/karim-ben-fadhel-41169580/">Karim Ben Fadhel</a>, investment ecosystem development manager at Renew Capital. “Their community-focused platform makes sustainable fashion more accessible and affordable while contributing to a more conscious and connected future.”With Renew Capital’s investment, Dabchy plans to enhance its platform, grow its user base and expand into new markets.&nbsp;About Dabchy Dabchy is a&nbsp;peer-to-peer fashion marketplace that enables users to buy and sell clothes within a community-driven environment. Visit&nbsp;<a href="https://www.dabchy.com/">www.dabchy.com</a>&nbsp;for more information.

Renew Capital, an early stage venture capital firm in Africa invests in Dabchy.

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Press Release: Dabchy Enables Individuals to Monetize Their Wardrobes and Promote Circular Fashion

<h1>Renew Capital Legal Brief - January 2025</h1>The latest changes in Africa's regulatory environmentWith a growing presence in Africa’s startup ecosystems, the Renew Capital team stays on top of the legal landscapes shaping the venture capital and investment space and provides insights for investors, entrepreneurs, industry leaders and policymakers in Africa’s dynamic business environment.&nbsp;<figure class="image"><img src="/uploads/Legal_Brief_13b68836a9.png"></figure><h3 style="text-align:justify;">Egypt</h3>Business zones:&nbsp;The Egyptian government is set to enact a law to create business zones in Egypt. These business zones will offer modern infrastructure and tax incentives for foreign investors, companies and other interested parties.&nbsp;&nbsp;Why it matters: Establishing business zones will significantly promote foreign investment within Egypt.New rules for pharmaceutical warehouses:&nbsp;After a 6-month suspension, a new law has been enacted for licensing pharmaceutical warehouses. The Egyptian Drug Authority is to release detailed guidelines on the new requirements for pharmaceutical warehouse owners.&nbsp;&nbsp;Why it matters: Pharmaceutical warehouse owners are to adhere to the new law and the requirements to be subsequently published by the EDA.&nbsp;<h3 style="text-align:justify;">Ethiopia</h3>Ethiopia welcomes foreign banks: The Ethiopian Government has passed a proclamation allowing financially sound and well-established foreign banks to operate and provide core banking services in Ethiopia. Representative offices of foreign banks are also to register or re-register with the National Bank of Ethiopia.&nbsp;Why it matters: This legislation will increase healthy competition, encourage foreign investments and drive innovation within Ethiopia’s financial ecosystem.<h3 style="text-align:justify;">Kenya</h3>Startup Bill progresses:On January 22, Kenya’s National Assembly passed the long-awaited Startup Bill. Although the bill still awaits presidential assent, it is expected to provide tax breaks, grants, guidelines for incubation and accelerator programs and&nbsp;government&nbsp;procurement&nbsp;opportunities for startups in Kenya.&nbsp;Why it matters: The Startup Bill, when enacted, will hopefully create an enabling environment for startups to thrive, attract foreign investments and enable access to opportunities to accelerate growth.New tax regime: In December 2024, new tax requirements were introduced in Kenya and they include:&nbsp;<ul><li>Minimum top-up tax for local subsidiaries of multinationals&nbsp;&nbsp;</li><li>Significant economic presence tax on digital services</li><li>Reduced capital gains tax rate for investments certified by the Nairobi International Financial Centre Authority</li><li>Excise duties on fees charged by local digital credit providers&nbsp;</li><li>Excise duties on digital services provided by non-residents</li></ul>Why it matters: The new tax regulations will increase the tax obligations for businesses in Kenya, including both residents and non-residents. The changes may potentially increase the cost of doing business in Kenya.AI strategy: The Kenyan Ministry of Information, Communications and Digital Economy recently issued a draft National Artificial Intelligence (AI) Strategy for public review. The strategy document embodies Kenya’s deliberate efforts to create a robust governance framework for AI.&nbsp;Why it matters: With the global attention that AI is getting from international investors, the strategy shows Kenya’s commitment to developing a stable and well-governed environment for innovation by entrepreneurs using AI.&nbsp;<h3 style="text-align:justify;">Morocco</h3>Launch of Morocco Fintech Center: Launched on January 15, 2025 in Rabat, Morocco, the Morocco Fintech Center (MFC) is a joint development platform backed by prominent Moroccan institutions including the Central Bank of Morocco. The MFC aims to support the development of fintech startups in Morocco through incubation, regulatory guidance and training.&nbsp;Why it matters: The MFC is expected to boost the fintech sector, facilitate more innovations by entrepreneurs and attract foreign investments in Morocco.&nbsp;<h3 style="text-align:justify;">Nigeria</h3>Increased regulatory oversight for digital assets: The Securities and Exchange Commission (SEC) is set to expand its regulation to include more operators of digital assets. This includes foreign or non-resident sponsors of digital assets as well as operators who actively target Nigerian investors. Additionally, the SEC has introduced a new registration category called Digital Asset Intermediaries. Draft amendments to existing rules are under review and expected to take effect on June 30, 2025.Why it matters: These proposed changes indicate increased regulatory oversight in the Nigerian digital assets sector as it gains prominence with increasing trading volumes in Nigeria.<h3 style="text-align:justify;">Rwanda</h3>Rwanda battles financial crimes: The Rwandan parliament, on January 9, passed the law on the prevention and punishment of money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction to intensify its anti-financial crime efficacy. The legislation introduced penalties for non-compliance with anti-money laundering and counter-terrorism financing obligations.&nbsp;Why it matters: These changes will assist in tackling risks of terrorist financing and financial crime vulnerabilities in Rwanda.&nbsp;<h3 style="text-align:justify;">South Africa</h3>Corporate governance changes: Starting on 27 December 2024, the Companies Second Amendment Act became effective. The legislation introduced lighter requirements for intra-group financial assistance provisions, approvals of buy-backs and cooling-off periods for auditors.&nbsp;Why it matters: This change eases internal corporate governance procedures and policies of companies registered in South Africa. It appears that this is geared towards improving the ease of doing business index of South Africa.<h3 style="text-align:justify;">Tanzania</h3>Data processors and controllers’ registration: Tanzania's Personal Data Protection Commission (PDPC) has extended its deadline for registering all data controllers and processors in Tanzania to April 30, 2025.&nbsp;Why it matters: Data controllers and processors not registered before the deadline will attract a fine between TZS100,000 ($40) and TZS5,000,000 ($1,975).<h3 style="text-align:justify;">Zambia</h3>Zambia Startup Bill:The Zambian Parliament is considering a Startup Bill and has issued a draft for public review. The bill proposes the creation of a government office dedicated to the registration and administration of startups and the establishment of the National Innovation Fund to raise capital for developing technology-related talent and education in Zambia.&nbsp;Why it matters: The Startup Bill will boost the startup industry in Zambia, while also encouraging technological innovations and advancement across the country.Pan-AfricaRegulation of crypto activities: While Nigeria intensifies its legal framework on crypto activities, Kenya and Morocco prepare to join the league of African countries (Nigeria, Mauritius, Seychelles and South Africa) to establish legal frameworks for crypto activities.&nbsp;In Kenya, public reviews and consultations are underway for its draft National Policy on Virtual Assets and Virtual Asset Service Providers, and the draft Virtual Asset Service Providers Bill 2024.&nbsp;Equally, Morocco is working with the International Monetary Fund (IMF) and the World Bank to create a legal framework to regulate crypto activities in Morocco.&nbsp; A draft crypto bill for regulating cryptocurrencies was shared with the Central Bank of Morocco’s council in December 2024.Why it matters: These moves will advance financial stability in these African countries and attract more crypto activities from relevant stakeholders.&nbsp;Visit our blog to learn more about some of&nbsp;<a href="https://www.renewcapital.com/newsroom/the-momentum-of-african-startup-ecosystems-in-a-snapshot">Africa’s startup ecosystems</a> or contact us at&nbsp;<a href="mailto:renew@renewcapital.com">renew@renewcapital.com</a> if you need to get up to speed on any of these ecosystems!&nbsp;Stay tuned for more updates in our upcoming briefs!Disclaimer: The information included in his blog does not constitute legal advice. Consumers should consult their legal advisors. &nbsp;

The latest changes in Africa's regulatory environment

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Renew Capital Legal Brief - January 2025

<h1>Press Release: Sevi Set to Revolutionize African Retail Financing with ‘Stock Now, Pay Later’ Platform</h1>Renew Capital invests in Sevi to expand its AI-driven stock financing platform for wholesalers and retailers.<a href="https://latest-api.renewcapital.com/uploads/FINAL_Sevi_Press_Release_ce246f7c03.pdf">Download Full Press Release</a>NAIROBI, Kenya, January 21, 2025&nbsp;– Sevi, a fintech company regulated by the Central Bank of Kenya, is revolutionizing stock financing for wholesalers and retailers through its “stock now, pay later” platform. Sevi addresses the challenge of insufficient working capital by providing users with access to credit while ensuring suppliers are paid upfront.<figure class="image"><img src="/uploads/Product_Photo_Sevi_24b1dac96d.jpg" alt="A product photo of Sevi, an early-stage startup based in Kenya, now part of Renew Capital's portfolio."></figure>With&nbsp;<a href="https://www.linkedin.com/company/sevi-finance/">Sevi</a>, suppliers like Coca-Cola, Anytime and Philmed receive direct payments for their products, and retailers can order stock on credit, enabling them to grow their businesses. The app utilizes AI and machine learning to enhance its credit evaluation process, offering a seamless, reliable solution for credit transactions between suppliers, retailers and credit funds.“Our mission is to empower wholesalers and retailers by providing them with the working capital they need to grow their shops,” said&nbsp;<a href="https://www.linkedin.com/in/walteraandewiel/">Walter aan de Wiel</a>, founder of Sevi. “With our app, retailers can access stock on credit, repay easily and focus on expanding their businesses, while suppliers benefit from upfront payments.”Operating on a one-week credit cycle, Sevi’s innovative approach reduces friction in the supply chain, enabling smoother transactions and increased efficiency for both retailers and suppliers.“Sevi is solving a critical working capital gap in the FMCG sector,” said&nbsp;<a href="https://www.linkedin.com/in/calvin-chitangala-42b77512b/">Calvin Chitangala</a>, investment and project manager at Renew Capital. “Their platform makes stock financing more accessible and efficient, empowering businesses to grow faster.”With Renew Capital’s investment, Sevi plans to enhance its platform’s capabilities, grow its network of suppliers and retailers and continue driving financial inclusion for wholesalers and retailers.Support to Renew Capital portfolio companies is provided in partnership with Global Affairs Canada.About SeviSevi provides a user-friendly smartphone app designed for sales agents and customers, enabling them to easily pay orders on Sevi’s credit platform. Visit&nbsp;<a href="https://www.sevi.io/">https://www.sevi.io/</a> for more information.

Renew Capital, an early stage venture capital firm in Africa invests in Sevi.

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Press Release: Sevi Set to Revolutionize African Retail Financing with ‘Stock Now, Pay Later’ Platform

<h1>Press Release: Power Financial Wellness Puts Financial Control Back in Workers’ Hands</h1>Renew Capital invests in Power Financial Wellness, a platform providing workers with the tools to manage their finances effectively.<a href="https://latest-api.renewcapital.com/uploads/FINAL_Power_Wellness_Financial_Press_Release_10c740a9c0.pdf" target="_blank" rel="noopener noreferrer">Download Full Press Release&nbsp;</a>NAIROBI, Kenya,&nbsp;December 26, 2024 – Power Financial Wellness is helping workers across Africa to better manage their money. The fintech company, with customers or subsidiaries in Kenya, Uganda, Tanzania, Zambia, Rwanda and India, offers an all-inclusive financial platform that helps workers in both formal and informal sectors to improve their financial health. The company works directly with employers and gig platforms to provide their workforce with access to financial tools that reduce financial-related stress and boost productivity. Power also provides its Platform as a Service to other regulated banks, lenders, SACCOS and HR platforms looking to digitize or embed financial services.<figure class="image"><img src="/uploads/Power_Financial_Wellness_4794de2d57.jpg"></figure>The fully digital platform provides workers with a range of services to improve financial health. These services include earned wage access, which enables workers to access a portion of their earnings before the end of the month to avoid predatory lending. The platform also offers savings and investment options, longer-term loans and insurance premium financing that supports workers enrolling in health, funeral and other essential insurances. All of these services are seamlessly integrated into workers’ income streams, which makes the financial management process simple and stress-free.“We believe in empowering individuals by giving them access to tools that enable them to pay, save, borrow and protect their financial health,” said&nbsp;<a href="https://www.linkedin.com/in/brian-corey-dempsey/">Brian Dempsey</a>, founder of Power Financial Wellness. “By linking these services directly to their earnings, we provide a frictionless way for individuals to manage their finances, reduce stress and take control of their financial future.”Power provides a financial wellness ecosystem where workers have the resources and guidance to improve their financial health and access the services they need in one place. Their solution is designed to not only support day-to-day financial needs but also provide long-term financial stability and growth opportunities for workers in both formal and informal sectors.“Power Financial Wellness is addressing a critical need in both the formal and informal economies,” said Esther Mwikali, senior investment manager at Renew Capital. “Their platform offers a comprehensive, easy-to-use solution that empowers workers to manage their finances, access savings and loans and protect their future. We are committed to continue backing growth-oriented founders across the continent.”Support to Renew Capital portfolio companies is provided in partnership with Global Affairs Canada.About Power Financial WellnessPower Financial Wellness empowers workers across Africa with tools to manage their finances, improve financial health and achieve long-term stability through an all-in-one platform. Visit&nbsp;<a href="https://yourpower.io/">https://yourpower.io/</a> for more information.&nbsp;

Renew Capital invests in Power Financial Wellness, a platform providing workers with the tools to manage their finances effectively.

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Press Release: Power Financial Wellness Puts Financial Control Back in Workers’ Hands

<h1>Renew Capital Legal Brief - December 2024</h1>The latest changes in Africa's regulatory environmentWith a growing presence in Africa’s startup ecosystems, the Renew Capital team stays on top of the legal landscapes shaping the venture capital and investment space and provides insights for investors, entrepreneurs, industry leaders and policymakers in Africa’s dynamic business environment.&nbsp;<figure class="image"><img src="/uploads/Legal_brief_40a46b1227.png"></figure><figure class="image"><img></figure><h3 style="text-align:justify;">Egypt</h3>Strengthening waste management:&nbsp;The UN Development Programme (UNDP) awarded a $6.3M grant to Egypt’s Ministry of Health to build a hazardous medical waste treatment facility in Suez.&nbsp;Why it matters: The facility aims to cut harmful emissions and improve the safety of hazardous waste disposal, addressing critical public health and environmental concerns.<h3 style="text-align:justify;">Ethiopia</h3>Banking now open to foreigners:Ethiopia's parliament passed legislation on December 17, 2024 which allows foreign banks to establish subsidiaries, open branches or representative offices and buy shares in local banks. It is understood that by the law, ownership of local banks by foreign strategic investors will be capped at 40% (<a href="https://www.reuters.com/business/finance/ethiopia-passes-law-open-banking-foreign-competition-2024-12-17/?utm_source=chatgpt.com">Reuters</a>).&nbsp;Why it matters:&nbsp;This aligns with IMF-backed reforms, including floating the birr and adopting interest rate-based monetary policies as Ethiopia seeks to attract higher levels of foreign investment.&nbsp;New securities guidelines: The Ethiopian Capital Markets Authority (ECMA) now requires issuers of equity or debt securities to register and undergo verification.&nbsp;Why it matters: This oversees Ethiopia’s nascent capital markets, promoting investor confidence.QR code standards for PSPs: Starting December 1, 2024, all payment service providers (PSPs) offering QR code payments must comply with the National Bank of Ethiopia's (NBE) interoperability standards.&nbsp;Why it matters: This initiative supports seamless, standardized digital payments, boosting financial inclusion and consumer convenience.Mandatory national IDs for bank accounts: Banks must now require National (Fayda) IDs from all customers. The rollout begins in Addis Ababa and will expand in phases.&nbsp;Why it matters: This initiative could strengthen financial security and compliance but may create short-term access challenges for customers without IDs.<h3 style="text-align:justify;">Ghana</h3>Higher risk standards for banks: The Bank of Ghana issued directives on climate-related financial risks and outsourcing risk exposure. Compliance is required by 2025.&nbsp;Why it matters: These measures push financial institutions to manage risks tied to climate change and third-party operations, improving stability in the sector.<h3 style="text-align:justify;">Kenya</h3>Expanded regulation by CBK: A proposed bill would require credit guarantee firms, asset financiers and "buy now, pay later" service providers to register with the Central Bank of Kenya (CBK). Existing firms will get a timeline to comply once the bill is passed.&nbsp;Why it matters: This will bring these emerging financial services under formal regulation, reducing consumer risks.Public procurement changes: Only local firms will be eligible for government contracts under KES1B (~$7.72M). Foreign firms must partner with local companies for larger contracts.&nbsp;Why it matters: The policy aims to boost local business participation in government projects, strengthening Kenya’s domestic economy.<h3 style="text-align:justify;">Mozambique</h3>Trade agreement with Malawi: Mozambique and Malawi agreed to exempt up to 47 products from customs duties for cross-border imports and exports.&nbsp;Why it matters: The deal simplifies trade between the two countries, potentially lowering costs for businesses and consumers.<h3 style="text-align:justify;">Nigeria</h3>SEC targets short-term debt: The Securities and Exchange Commission (SEC) plans to regulate debt instruments with maturities under nine months. Draft amendments to existing rules are under review.&nbsp;Why it matters: This move closes a regulatory gap, providing greater investor protection and market transparency.Proposed tax reforms: The Nigerian Senate is considering bills that could reshape the tax landscape. Proposals include:<ol><li>Exemptions for small businesses and minimum wage earners.</li><li>Reduced taxes for workers.</li><li>VAT exemptions on rent, public transport and renewable energy.</li></ol>Why it matters: If passed, these reforms could ease the tax burden on individuals and businesses, encouraging economic growth and sustainability.<h3 style="text-align:justify;">South Africa</h3>Small businesses gain relief: Starting January 1, 2025, businesses with fewer than 50 employees will no longer need to submit employment equity reports or implement equity plans.&nbsp;Why it matters: This change reduces compliance costs for small businesses, freeing resources for growth and operations.<h3 style="text-align:justify;">Tanzania</h3>Venture capital regulation: Tanzania's Capital Markets and Securities Authority (CMSA) is finalizing rules for licensing venture capital and private equity firms. Registration with the CMSA will be mandatory.&nbsp;Why it matters: These regulations aim to promote transparency and accountability, encouraging investment in Tanzania’s growing private sector.<h3 style="text-align:justify;">Zambia</h3>Carbon trading regulation: Zambia’s National Assembly is reviewing the Green Economy and Climate Change Bill. The proposed law would require carbon traders to get authorization before operating.&nbsp;Why it matters: This would formalize carbon trading, helping Zambia attract green investment and align with global sustainability goals.Visit our blog to learn more about some of&nbsp;<a href="https://www.renewcapital.com/newsroom/the-momentum-of-african-startup-ecosystems-in-a-snapshot">Africa’s startup ecosystems</a> or contact us at&nbsp;<a href="mailto:renew@renewcapital.com">renew@renewcapital.com</a> if you need to get up to speed on any of these ecosystems!&nbsp;Stay tuned for more updates in our upcoming briefs!Disclaimer: The information included in his blog does not constitute legal advice. Consumers should consult their legal advisors.

Ethiopia's parliament passed legislation on December 17, 2024 which allows foreign banks to establish subsidiaries, open branches or representative offices and buy shares in local banks.

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Renew Capital Legal Brief - December 2024

<h1>Press Release: Talaty Uses AI to Facilitate Fast, Affordable Loans to Morocco’s SMBs</h1>Renew Capital and Witamax invest in Talaty to expand AI-driven financing solutions across Morocco and Francophone Africa.<a href="https://latest-api.renewcapital.com/uploads/FINAL_Talaty_Press_Release_41bf4fdd33.pdf">Download Full Press Release</a>&nbsp;RABAT, Morocco, December 19, 2024&nbsp; – Talaty, a Moroccan fintech, is redefining financing for small and medium-sized businesses (SMBs) with its innovative AI-driven solutions. This advanced technology streamlines traditional financial processes, enhancing access and efficiency for healthy SMBs seeking working capital. By integrating cutting-edge AI, <a href="https://www.linkedin.com/company/talaty/">Talaty</a> sets a new benchmark in fintech, empowering financial institutions with the tools they need to thrive in a competitive marketplace.<figure class="image"><img src="/uploads/image_16_aa02420405.png" alt="The Talaty team in Rabat, Morocco, driving AI-powered financing innovation across Francophone Africa."></figure>"Securing financing is a significant hurdle for SMBs with many bankruptcies among these businesses stemming from payment defaults," stated&nbsp;<a href="https://www.linkedin.com/in/soulaimane-lahrech-85810850/">Soulaimane Lahrech</a>, CEO of Talaty. "Our AI-driven platform streamlines the process, enabling our partners to deliver timely and effective financial support to these businesses."“Talaty is providing a much-needed solution to Morocco’s financial institutions regarding SMB financing challenges,” said&nbsp;<a href="https://www.linkedin.com/in/nihal-grii-9278a8ab/">Nihal GRII</a>, investment ecosystem development manager at Renew Capital. “This initiative represents a genuine stride toward financial inclusion, as it equips institutions with the necessary tools to broaden the scope of SMBs they can serve, enhancing access to essential financial services for a larger segment of the business community.”With Witamax and Renew Capital’s investment, Talaty plans to grow its activities, scale its platform and expand its innovative AI-driven credit solutions into Francophone Africa, advancing financial inclusion for SMBs across the region.About TalatyTalaty is transforming access to financing for small and medium businesses (SMBs) through AI-powered instant financing solutions. Visit&nbsp;<a href="https://www.talatypay.com/">www.talatypay.com</a> for more information.

Renew Capital, an early stage investment firm in Africa and Witamax invest in Talaty to expand AI-driven financing solutions across Morocco and Francophone Africa.

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Press Release: Talaty Uses AI to Facilitate Fast, Affordable Loans to Morocco’s SMBs

<h1>Press Release: BulkBox - Solving Supply Chain Challenges for Africa’s SMEs</h1>Renew Capital invests in Bulkbox, a tech-enabled platform that provides Africa’s businesses with fast and reliable access to business supplies at competitive prices.<a href="https://latest-api.renewcapital.com/uploads/FINAL_Bulk_Box_Press_Release_4e3bfc5e52.pdf">Download Full Press Release</a>NAIROBI, Kenya, December 19, 2024&nbsp;– BulkBox is addressing critical supply chain challenges faced by small and medium-sized enterprises (SMEs) in Kenya using a convenient and easy-to-navigate online platform. The company provides SMEs with reliable access to a wide range of essential supplies at wholesale prices, empowering them to operate efficiently and profitably.The platform is simplifying procurement for businesses of all types, including restaurants, retailers and offices, providing them with the resources they need to thrive in a competitive marketplace.&nbsp;“BulkBox is helping small businesses get the supplies they need quickly and at fair prices,” said Ahmed Wurie, Co-founder and CEO of BulkBox. “We deliver products the same day and also provide manufacturers with local hubs to make last-mile deliveries easier and more affordable.”BulkBox addresses a key challenge in Kenya, where approximately 400,000 micro, small, and medium enterprises fail within their first year. BulkBox’s comprehensive platform ensures SMEs can access the products they need quickly and affordably while benefiting from tools that enhance operational efficiency.“BulkBox is solving a major challenge for SMEs in Kenya by improving access to affordable and reliable supplies,” said&nbsp;<a href="https://www.linkedin.com/in/lucas381/">Lucas Robinson</a>, consulting principal at Renew Capital. “Their B2B e-commerce platform, combined with capacity building support, equips businesses with the tools they need to grow and succeed.”With a strong value proposition of fast delivery, competitive pricing and capacity-building tools, BulkBox is well-positioned to help SMEs grow and succeed in Kenya’s competitive market.&nbsp;Support to Renew Capital portfolio companies is provided in partnership with Global Affairs Canada.About Bulkbox&nbsp;BulkBox is tackling supply chain challenges for small and medium-sized enterprises (SMEs) in Kenya through a convenient, user-friendly online platform that streamlines access to essential supplies.

Renew Capital, an early-stage venture capital firm in Africa invests in Bulkbox, a tech-enabled platform that provides Africa’s businesses with fast and reliable access to business supplies at competitive prices.

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Press Release: BulkBox - Solving Supply Chain Challenges for Africa’s SMEs

<h1>Press Release: Appload Simplifies Cargo Shipping with Its Online Marketplace</h1>Renew Capital invests in Appload, a solution that is connecting shippers and carriers to streamline logistics across Southern Africa<a href="https://latest-api.renewcapital.com/uploads/FINAL_Appload_Press_Release_009abaa15d.pdf">Download Full Press Release</a>MAPUTO, Mozambique, December 17, 2024&nbsp;– Businesses in Southern Africa are now finding it easier to move goods thanks to Appload, a digital marketplace that connects shippers and carriers. Using Appload, shippers can plan, book and monitor cargo shipments. Licensed carriers are also able to find reliable customers.&nbsp;<figure class="image"><img src="/uploads/Appload_Team_Photo_2c988e0f34.png" alt="Renew Capital, an early-stage venture capital firm in Africa, invests in Appload—photo of the Appload team in Maputo, Mozambique."></figure>The platform reduces the need for middlemen and offers secure booking, payments and third-party cargo insurance. <a href="https://www.linkedin.com/company/apploadafrica/">Appload</a> also tracks each trip, ensuring safe and timely deliveries. Users benefit from a customer review system that allows them to rate both the service providers and clients. To merge business quality and environmental sustainability, Appload allows shippers and transporters to be conscious of their carbon footprints and make responsible choices.&nbsp;“Appload is making shipping of cargo simple and more reliable,” said&nbsp;<a href="https://www.linkedin.com/in/claire-hassoun-45b003a2">Claire Hassoun</a>, founder and CEO of Appload. “Our platform allows businesses and transporters to connect directly. This reduces costs and makes the shipping process seamless. Renew Capital’s support will help us to scale our impact across Mozambique and beyond.”Appload caters to various industries, including agriculture, manufacturing and retail, helping businesses of all sizes move their goods more effectively. The platform's transparent system ensures that both shippers and carriers have access to trustworthy service providers.&nbsp;“Appload is driving a much-needed change in the region's logistics market,” said Licinio Chissano, investment and project manager at Renew Capital. “Appload is helping businesses save time and money by making the process of finding cargo transporters more efficient and transparent.”Renew Capital continues to invest in growth-oriented entrepreneurs who offer scalable solutions to key challenges across Africa.&nbsp;Support to Renew Capital portfolio companies is provided in partnership with Global Affairs Canada and Norad.&nbsp;<h3>Portuguese Version</h3>&nbsp;<h1>Communiqué de Presse: Appload simplica transporte de cargas através da sua plataforma online</h1>Conectando expedidores aos transportadores para optimizar a actividade logística na Africa AustralMaputo, Moçambique, (DATE) – O Transporte de mercadorias ficou agora facilitado para as empresas na África Austral, graças a Appload, uma plataforma digital que liga expedidores e transportadores. Através da Appload, os expedidores podem planejar, reservar e rastreiam a circulação de mercadorias. As operadoras licenciadas também podem conseguir encontrar clientes confiáveis.A plataforma reduz a necessidade de intermediários e oferece reservas, pagamentos e seguro de carga através de terceiros. O Appload também rastreia as viagens, o que garante entregas seguras e oportunas. Os usuários se beneficiam de um sistema de avaliação de clientes, que lhes permite avaliar tanto os prestadores de serviços quanto os clientes. Para combinar a qualidade do serviço e sustentabilidade ambiental, o Appload permite que expedidores e transportadores estejam conscientes das emissões de carbono nas suas viagens, através do “carbon footprint” para que possam fazer escolhas responsáveis.“A Appload está a tornar o transporte de carga mais simples e confiável”, disse Claire Hassoun, fundadora e CEO da Appload. “A nossa plataforma permite que empresas e transportadores se conectem diretamente. Isso reduz custos e optimiza o processo de envio. O investimento da Renew Capital irá ajudar-nos a expandir o nosso impacto em Moçambique e além-fronteiras”A Appload atende a uma ampla variedade de setores, incluindo agricultura, manufatura e retalho, onde ajuda empresas de todos os tamanhos a movimentarem seus produtos de maneira mais eficaz. O sistema transparente da plataforma garante que tanto os expedidores como os transportadores tenham acesso a prestadores de serviços confiáveis“A Appload está impulsior uma mudança crucial no mercado logístico da região”, disse Licínio Chissano, Gestor de investimentos e projetos da Renew Capital. “A Appload ajuda as empresas a economizarem tempo e dinheiro, tornando o processo de localização de transportadores de carga mais eficiente e transparente”A Renew Capital continua a investir em empreendedores orientados para o crescimento, que oferecem soluções escaláveis e ​​para resolver os principais desafios do continente africano.&nbsp;A Renew Capital apoio empresas no seu portfólio em parceria com o Global Affairs Canada.Isenção de responsabilidade: este comunicado de imprensa foi traduzido do inglês. Agradecemos a sua compreensão por eventuais erros ou imperfeições na tradução.

Renew Capital, an early-stage venture capital firm in Africa invests in Appload.

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Press Release: Appload Simplifies Cargo Shipping with Its Online Marketplace

<h1>Why I Say No to Holiday Party Pitches: The VC Model Explained</h1>I’m no&nbsp;<a href="https://www.youtube.com/watch?v=0uMfatiUdqo">Buddy the Elf</a>, but I enjoy a good Christmas party. The decorations, the holiday sweaters and the spiked egg nog. It’s all great in my book.So, given my general enthusiasm for holiday cheer, I hope this won’t come off as a Mr. Grinch moment.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeBWkRNl6qQGDOG327OVkWMJvm15mW6P07DS5iDEjhmZeky_y99TX7pVAQGif2bSuAucWwufiDranUW7MwWrbOO95PULQe0LukE_NlKQi9ADpkJkwd4sBv-YwfLUZMq0qbKZg2A5xZ1FD-DXqAYTNs?key=rz7TkrBy_rsMUWlGE5ZSRaMu">Photo:&nbsp;<a href="https://unsplash.com/photos/a-red-cup-of-coffee-sitting-on-top-of-a-wooden-shelf-u1JqmWkKfSQ">Eggnog by Katie Azi_Unsplash</a>Ever since I joined&nbsp;<a href="http://www.renewcapital.com">Renew Capital</a>, an early-stage venture capital firm in Africa a couple of years ago, a few drinks into almost every holiday gathering, someone—without fail—will come up to me and ask, “Do you want to invest in my business?”So I listen to them describe how they really need outside investment to help their business grow. The passion in these ad-hoc pitch moments is invariably impressive and though I usually think it’s a wonderful business, my reply is almost always, “No, sorry — I won’t invest in your business.”These entrepreneurs sometimes look a little heartbroken, but as long as the eggnog wasn’t really spiked, I try to explain, usually saying something along the lines of the following:I work for a venture capital (VC) firm. VC is built on the idea that investors make an outsized amount of their returns from a very small number of their investments.&nbsp; Hence, every deal we make needs to have the potential to be a huge success. Love it or hate it, this is the "<a href="https://medium.com/leadership-prevails/understanding-the-vc-power-law-why-fund-size-matters-in-venture-capital-returns-b3dcc2681509">VC model</a>."<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe70qG8vXaypVuvKoqLiwML2WwcLIKBy_JS8DeodXleG7vcJiHO5hPKzZW9Yd3AyeT98J5xq_SNWKeF_ACybIsTskOqkpCx4bRASy8sghajR1AINI7R8pDZTiV73P0_loM9yPQzbSS0U5EObpd2s9w?key=rz7TkrBy_rsMUWlGE5ZSRaMu">Photo:&nbsp;<a href="https://www.linkedin.com/in/lucas381/">Lucas Robinson</a>For the VC model to work, we need companies that are either creating or working in a huge market, with the&nbsp;<a href="https://www.investopedia.com/terms/v/venturecapitalist.asp">potential to capture a sizable share of it.</a> In practice, that means that we seek companies with the potential to expand beyond their current countries of operation (i.e. not entirely focused on dominating one country). What does that really mean? Bluntly, we’re looking for companies targeting total addressable market sizes of more than a billion dollars in Africa.We also look for companies that are trying to solve seemingly intractable problems, often through the clever use of technology, removing the considerable friction that exists in most markets. This means we, like most VC firms, have a preference for fintech, e-commerce, SaaS, trade/logi-tech and mobile-first solutions.&nbsp;Can all of Africa’s problems be solved through these technologies? Of course not, but these technologies enable companies to scale quickly and at the risk of sounding like a catchy&nbsp;<a href="https://youtu.be/aAkMkVFwAoo?si=grG_5S4CnaaAbVK4">Mariah Carey Christmas song</a>, that’s what we are looking for.Is this model right for every company? Definitely not. The economic backbone of every single economy on the planet&nbsp;are the hundreds of thousands of small- and medium-sized businesses (SMEs) that are slowly and steadily increasing their revenue every year. These are fantastic companies. I want there to be hundreds and thousands more of them. I’ve even helped to build a few here on the continent and I’m really proud of them. But they are not (or were not, in some cases) VC-backable companies.Many solid SMEs and even some multinational companies grow without taking any kind of outside capital initially—they find ways to grow a business without (Mailchimp, Basecamp and Zoho are three such examples).Despite the frothy VC market in my adopted hometown of Nairobi, there are actually many other investment options to consider: impact investors, debt, local angel investors, revenue-based financing, working capital facilities, private equity (or micro-private equity) and even grants. Each of these is probably a better financing option for most of the business owners that I speak to.Does that mean I will try to avoid conversations about your new business plans when I see you at the holiday party? Of course not—I love those conversations. It's just that as a VC firm, we may not be&nbsp;<a href="https://www.weareuncapped.com/eu/blog/small-business-finance">the right capital for you</a>.If you're a growth-oriented founder leading an early-stage startup in Africa, apply to our&nbsp;<a href="https://venturelab.renewcapital.com/">Renew Venture Lab</a> to gain training and support. We look forward to learning more about your startup.Lucas Robinson has invested in, founded and run numerous businesses in Africa. He is a Principal at Renew Capital. One of the company’s training topics is focused on this very subject;&nbsp;<a href="https://share.hsforms.com/1vl4AMMceRsW3JTrqjT-LAAee4rj">sign up here</a>.

We seek companies with the potential to expand beyond their current countries of operation (i.e. not entirely focused on dominating one country). 

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Why I Say No to Holiday Party Pitches: The VC Model Explained

<h1>Press Release: Enakl - Building Transport Solution for Africa’s Growing Cities</h1>Renew Capital invests in Enakl to expand affordable and sustainable transport solutions across Africa.&nbsp;<a href="https://latest-api.renewcapital.com/uploads/2024_12_10_FINAL_Enakl_Press_Release_a512c06dc2.pdf">Download Full Press Release</a>CASABLANCA, Morocco,&nbsp;December 10, 2024&nbsp;– Enakl, an innovative urban mobility startup, addresses a critical need in Africa’s urban centers where public transportation remains overcrowded, unreliable and expensive. The platform connects commuters with local transport providers through a pre-booked, subscription-based model. By optimizing fleet operations and reducing costs, Enakl ensures accessible transportation options for businesses and individuals alike.<figure class="image"><img src="/uploads/Enakl_Founders_Morocco_b8ac5c9e20.jpg" alt="Photo of Enakl's founders, an early-stage startup based in Morocco, now part of Renew Capital's portfolio."></figure>“Our mission is to make quality and affordable transport accessible to everyone,” said&nbsp;<a href="https://www.linkedin.com/in/charles-pommarede/">Charles Pommarede</a>, co-founder and CEO of Enakl. “This investment from Renew Capital will help us scale our model, improve our technology and expand into new markets. We are excited to continue solving mobility challenges while empowering local drivers and operators.”Enakl’s traction underscores its potential for long-term impact. In just under a year, the company has achieved a 20% monthly growth rate in bookings and revenue, with more than 15,000 bookings per month and contracts with leading corporations such as Carrefour and Sitel. The platform has also tripled its operated routes, meeting the rising demand for cost-effective, sustainable transit solutions.“I am proud of the Enakl team,” said Nihal GRII, investment manager at Renew Capital. “The solution they offer is appropriate for Morocco and many African cities where quality and affordable transportation is still a challenge. Their innovative approach, paired with their commitment to sustainability and accessibility, positions the company to be a leader in the mobility sector.”&nbsp;With the investment from Renew Capital, Enakl plans to accelerate its expansion plans, which include growing its fleet, optimizing its AI-powered routing system and diversifying its driver base by onboarding more women. By focusing on urban centers across Africa, the company aims to create a more sustainable and inclusive future for urban mobility.About Enakl Enakl is a Morocco-based urban mobility startup that provides affordable and reliable transportation solutions for emerging markets. Enakl delivers scalable, sustainable transit options through technology and partnerships with local operators that improve urban mobility and empower communities.

Renew Capital, an early stage venture capital firm in Africa invests in Enakl.