<h1>Press Release: Affinity, Ghana's Trailblazing Digital Bank, Continues to Expand</h1>Renew Capital makes first investment in Ghana&nbsp;<a href="https://latest-api.renewcapital.com/uploads/2024_09_04_FINAL_Affinity_Press_Release_ddf8da1454.pdf" target="_blank" rel="noopener noreferrer">Download the full press release</a>ACCRA, Ghana, April 9, 2024&nbsp;—&nbsp;<a href="https://www.linkedin.com/company/affinityghana/">Affinity</a>, a full-scale digital bank, was established with a bold vision to provide banking services to 350 million adults who remain unbanked in Africa. Operating as a digital banking platform, Affinity offers a full suite of banking services, including current, savings and investment accounts, transfers, payments and loans with a targeted focus on financially excluded populations in Africa.<figure class="image"><img src="/uploads/486_A3496_4d2eaa9836.jpeg" alt="Group photo of the Affinity team in Accra, Ghana, featuring over 30 members outside their office, all smiling and waving to promote financial inclusion in Africa."></figure>In Africa, digital banks like Affinity are emerging as transformative forces, disrupting the industry and driving financial inclusion. Affinity stands out by prioritizing customers, offering accounts with no fees and competitive interest rates on deposits and providing access to a range of affordable loan products.“At Affinity, we've developed a fully integrated platform dedicated to promoting financial inclusion by effectively addressing the challenges faced by individuals and MSMEs without access to financial services across sub-Saharan Africa,” stated the group CEO and founder of Affinity Africa, <a href="https://uk.linkedin.com/in/tmouganie">Tarek Mouganie</a>. "Our approach revolves around low-cost deposits, fully online digital channels and becoming the most affordable MSME lender."Affinity's mission is anchored in recognizing the critical importance of financial inclusion, especially for small businesses and individuals in Africa facing barriers due to traditional documentation requirements, leading to rejection by conventional banks. The company's commitment to leveraging technology to bridge these financial gaps underscores its pivotal role in shaping the future of banking in Africa.“Progress is being made across the continent related to financial inclusion, but there are still millions more to reach,” stated <a href="https://www.linkedin.com/in/jcoelofse/?originalSubdomain=et">JC Oelofse</a>, Renew Capital’s head of investment. “Renew Capital is thrilled to invest in Affinity, our first investment in Ghana and looks forward to supporting them as they look to expand across the continent.”*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

Renew Capital makes its first investment in Ghana by investing in Affinity, a digital bank dedicated to enhancing financial inclusion for unbanked populations across Africa.

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Press Release: Affinity, Ghana's Trailblazing Digital Bank, Continues to Expand

<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: 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.

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Press Release: Enakl - Building Transport Solution for Africa’s Growing Cities

<h1>#StopGivingTuesday</h1>&nbsp;It’s Time to Invest in Africa’s Future<h2>Stop Giving to Africa</h2>It’s #GivingTuesday, and across the U.S., wallets are opening, charities are receiving and people are feeling good about giving. Some of you may be considering giving to Africa. But here’s some hard truth: charity isn’t helping Africa. Worse, it’s holding the continent back. With the world’s youngest and fastest-growing workforce—but the fewest jobs to match—Africa needs more than charity. It needs investment.I know—this sounds harsh. And yes, I’m biased. My wife&nbsp;<a href="https://www.linkedin.com/in/laura-davis-25764430/">Laura Davis</a> and I run an investment firm in Africa. Over the past decade, we’ve personally invested in about 50 startups across the continent. We do this because we’ve seen firsthand how investment—not charity—transforms economies, creates jobs and builds wealth.Let me offer two excellent reasons why you should consider moving from giving to investing in Africa:&nbsp;<ul><li>The “Oh No!” reason, and</li><li>The “Oh Wow!” reason</li></ul><h3>The “Oh No!” Reason: We’re Losing Africa</h3>The U.S. and the West are losing influence in Africa to China and Russia. China-Africa trade hit $282B last year, dwarfing the U.S.’ $45B. While Beijing is building railways, roads and ports, we’re sending planeloads of Americans on service trips, wearing matching T-shirts, ready to “help” Africa. Many Africans I speak with see charity efforts as outdated and patronizing—a relic of the 1980s.Meanwhile, China and Russia are treating Africa like the economic and geopolitical powerhouse it’s becoming. Ethiopia and Egypt recently joined BRICS+, signaling Africa’s shifting alliances and growing strategic importance. By 2050, 25% of the world’s population will live in Africa and the continent will hold 28% of the UN Security Council votes. Yet African leaders feel the U.S. doesn’t take them seriously—and frankly, they’re right.We’re falling behind because we’re stuck in an outdated view of Africa. Why are we still exporting handouts when we could invest in the entrepreneurs shaping Africa’s future? Capitalism works—it’s what we do best.&nbsp;<figure class="image"><img src="/uploads/Images_Website_Ratio_18_66c12a4288.png"></figure>Source:&nbsp;<a href="https://news.gallup.com/poll/644222/loses-soft-power-edge-africa.aspx?mkt_tok=ODEzLVhZVS00MjIAAAGS7gl9qAoPQNoaWqmpe2yrbLIC7aETi7NdaMFPLoxSgHL5s-XaG_Y8xnyQf-zWThDGGdEUGwwnc7WUsZ2Mnn3KoyULp4jY5fmg2j6sarpChZ4">Gallup</a><h3>The “Oh Wow” Reason: Africa is Booming</h3>Now for the exciting part. Africa is booming. Nine of the world’s 20 fastest-growing economies are in Africa. The continent is urbanizing faster than anywhere else and will soon house 13 of the world’s largest cities. Yet population growth continues to outpace private sector expansion. The opportunity is enormous—but only if you come looking for it.More than 60% of Africans are under the age of 25 and Africa’s youth are entrepreneurial, ambitious and ready to lead. A recent study found that 71% of African youth plan to start their own businesses within five years. Thanks to advancements in internet access, AI and mobile technology, launching a startup in Africa has never been easier—or more affordable.<figure class="image"><img src="/uploads/Images_Website_Ratio_22_9313e2173f.png"></figure>Source:&nbsp;<a href="https://www.renewcapital.com/">Renew Capital</a>Here are some examples:&nbsp;<a href="https://www.linkedin.com/company/mpostafrica/">MPost</a>, one of the startups we backed, is digitizing post office boxes in Africa. In some extreme cases, thousands of Africans have to share one P.O. box. MPost is making it possible to turn your mobile phone into a P.O. Box, enabling industries like e-commerce to flourish across Africa. Imagine the millions of jobs, economic value and wealth creation that could happen as this company scales. For a more traditional example, look at METAD, a specialty coffee company in Ethiopia. The founder had a vision of transforming Ethiopia’s coffee industry to make it specialty-grade before specialty coffee was all the rage. Today, METAD doesn’t just export world-class coffee to your favorite roasters and cafes—it employs thousands of workers, supports more than 10,000 smallholder farmers and provides health services and education to employees’ families, among other things. We don’t need to ask founders to go above and beyond making a profit; it’s just smart business in Africa. &nbsp;When young Africans see local founders securing investments, they think, “If they can do it, so can I.” That spark of hope spreads, fueling a ripple effect of ambition, innovation and a cycle of prosperity.<h3>Why All Eyes Should Be on African Startups</h3>Africa is the youngest continent on Earth, with a median age of 19. Each year, 8 to 10 million young Africans enter the workforce, but only 3 million formal jobs are created annually. This gap is a crisis—but it’s also the opportunity of a generation.Startups are the solution. They create jobs, drive innovation and build economies. Yet Africa receives less than 1% of global venture capital—a ridiculous figure for a continent that will soon be home to one out of every four humans on the planet.Imagine the possibilities if we focused our collective efforts on startups. In 2022, aid to Africa totaled $53B. Redirecting even a fraction of that to support startups could spark an economic renaissance. This shift is already happening in small pockets. Forward-thinking development organizations are working on blended finance projects, partnering with investors to lower the costs and risks for them to invest in Africa. But we need more charity checks to become investment checks.<figure class="image"><img src="/uploads/Images_Website_Ratio_21_794518c508.png" alt="An African map showing how aid funding exceeds startup capital, blended finance, and investment, highlighting the importance of investing in Africa instead of just giving."></figure>Source:&nbsp;<a href="https://www.renewcapital.com/">Renew Capital</a>If we focus, Western nations could accomplish a new vision: to invest in 10,000 startups every year within three years—a scale about 10 times Africa’s peak in 2022. At $100K per investment, this would require roughly $1B annually in pre-seed and seed-stage capital, or about 10% of what we currently give as charity to Africa each year. Combined with another $500M annually for technical assistance and ecosystem-building support from blended finance projects to prepare startups and provide post-investment support, this effort could create approximately 3.3 million jobs annually—closing the jobs gap by about 40%—at a cost to taxpayers of around $150 per job created. These are my own rough estimates, but imagine if we all focused on a bold target like this? Also, private capital doesn’t just generate employment; it catalyzes ecosystems, drives innovation and renews Africa’s image on the global stage. What a legacy.<h3>In Closing</h3>Obviously, I know we can’t stop all giving cold turkey—there’s too much entrenched infrastructure to dismantle overnight. But the time has come to move from giving to investing in Africa.And rest assured, there’s wealth in Africa. No matter how well-intentioned your charity or impactful your project is, there’s likely someone local who could be funding it and doing it better than you.&nbsp;I vote we replace #GivingTuesday (for Africa) with #StartupAfrica.I’d love to hear your thoughts. My objective is not to offend but to challenge us to think differently. Here are some questions that I’d love your thoughts on:&nbsp;<ul><li>Do you think giving is working?</li><li>Do you think investing will do more than giving?</li><li>What do you think is stopping the West from shifting its focus from giving to investing in Africa?</li><li>What else should we do to encourage Africa’s growth?</li></ul>Wondering How to Get Started?<ul><li>Think Differently: Poverty isn’t solved by giving; prosperity is created by investing. Read&nbsp;<a href="https://www.amazon.com/Prosperity-Paradox-Innovation-Nations-Poverty/dp/0062851829">The Prosperity Paradox</a> by Clayton Christensen.</li><li>Take an Investment Trip to Africa: Be part of a movement to create jobs and drive innovation. Join an investment tour to Africa. Meet entrepreneurs and see opportunities. We’ve got a group coming to&nbsp;<a href="https://www.gitexafrica.com/">GITEX Africa</a> in April.</li><li>Start Small and Diversify:&nbsp;You don’t need millions to begin, but no matter the dollar value, it’s best to diversify across countries. U.S.-based donors can use donor-advised funds to start. Join angel networks or explore Africa-focused VC firms.</li><li>Get Africa Smart:&nbsp;Subscribe to curated content on African startups. Check out&nbsp;<a href="https://theafricabrief.beehiiv.com/">The Africa Brief&nbsp;</a>(ours) or&nbsp;<a href="https://www.thisweekinfintech.com/tag/africa/">This Week in Fintech, Africa</a> (one of my favorites).</li><li>Be You:&nbsp;Be generous locally. If you want to help Africa, use your expertise to guide businesses and share your skills with African entrepreneurs.</li></ul>Disclaimer:This summary is intended for informational purposes only, is subject to change, and does not constitute investment advice or a recommendation to you. This summary is not intended as an offer to sell or a solicitation of an offer to buy an interest in any company (a “Company”) managed by Renew Capital or its affiliates. Such an offer to sell or solicitation to buy an interest in a Company may be made only by the delivery of subscription agreements relating to such Company and specifically delivered by Renew Capital to the recipient thereof. Investment in a Company is open solely to “accredited investors” (as defined by the SEC under the Securities Act of 1933, as amended) and, in addition, is intended only for sophisticated investors who meet the investor suitability requirements described in the subscription agreements and who can bear the risk of investment losses, including the potential loss of their entire investment.Investments with Renew Capital are speculative in nature and involve a high degree of risk. Renew Capital invests in companies located and doing business in sub-Saharan Africa. Investors should understand and be willing and able to handle the risks of investing in such frontier markets, which are more significant than the risks associated with investing in securities of U.S. companies or in other developed countries and include the risk of total loss of an investor’s entire investment. Investors should consult with their independent financial, legal and tax advisors to determine whether any particular investment or investment strategy is appropriate for them. Renew Capital does not make any recommendation regarding the appropriateness of any specific investment opportunity for any specific investor.

The time has come to move from giving to investing in Africa.

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#StopGivingTuesday

<h1>Press Release: Konnect Makes Digital Payments in North Africa a Breeze</h1>Renew Capital has made its inaugural investment in Tunisia by investing in Konnect, a secure and scalable payment gateway that promotes financial inclusion and innovation.<a href="https://latest-api.renewcapital.com/uploads/2024_12_3_FINAL_Konnect_Press_Release_524e47f565.pdf" target="_blank" rel="noopener noreferrer">Download Full Press Release</a>TUNIS, Tunisia, December 3, 2024&nbsp;— <a href="https://www.linkedin.com/company/konnect-networks/">Konnect</a> is a payment gateway pioneering digital payment solutions in North Africa, authorized by the Central Bank of Tunisia. Their platform offers seamless payment links, e-commerce plugins and a robust API designed to cater to businesses of all sizes. Konnect's services are tailored to enhance the online payment experience, ensuring quick, secure and efficient transactions that support business growth and simplify e-commerce interactions. With a commitment to improving financial accessibility, Konnect serves as a crucial partner for digital commerce in the region.<figure class="image"><img src="/uploads/Image_20241129_104602_564_d4a5b90765.jpeg" alt="Konnect team photo, marking Renew Capital's first investment in Tunisia, an early-stage venture capital firm in Africa focused on supporting tech startups and innovation."></figure>Konnect’s platform makes it easier for users to manage their finances digitally. By offering services tailored for the unbanked, Konnect is addressing key barriers to financial access while helping businesses optimize their payment systems. Through key partnerships, including a strategic collaboration with VISA, Konnect is driving the region’s shift toward digital payments, making secure and efficient financial services accessible to more people.“We’ve built Konnect to make digital payments more accessible, secure and user-friendly,” said <a href="https://www.linkedin.com/in/aminbenab/">Amin Ben Abderrahman</a>, founder of Konnect. “Our platform supports both individuals and businesses, allowing them to manage their payments with ease. We’re excited to continue expanding across North Africa and providing innovative financial services that cater to the needs of underserved communities.”Konnect’s platform also includes advanced fraud detection and remote onboarding. By leveraging the latest technologies, the company is playing a crucial role in modernizing the financial infrastructure in North Africa.“Konnect is setting a new standard for digital payments in the region,” said <a href="https://www.linkedin.com/in/karim-ben-fadhel-41169580/">Karim Ben Fadhel</a>, investment ecosystem development manager at Renew Capital. “Their platform not only simplifies financial transactions but also opens doors for greater financial inclusion. We’re proud to support Amin and his team as they lead the way in expanding access to secure and scalable payment solutions.”Renew Capital remains committed to investing in entrepreneurs who offer innovative and scalable solutions that drive financial inclusion and economic growth across Africa.

Renew Capital has made its inaugural investment in Tunisia by investing in Konnect, a secure and scalable payment gateway that promotes financial inclusion and innovation.

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Press Release: Konnect Makes Digital Payments in North Africa a Breeze

<h1>Press Release: Agenz Provides Transparency and Real-Time Data to Morocco’s Real Estate Market</h1>The platform provides real-time property valuations, market insights, and transparency in real estate transactions<a href="https://latest-api.renewcapital.com/uploads/FINAL_Agenz_Press_Release_2c02663edd.pdf " target="_blank" rel="noopener noreferrer">Download full press release</a>CASABLANCA, Morocco, October 10, 2024 – <a href="https://www.linkedin.com/company/agenztechnologies/">Agenz</a>, a data-driven platform that provides real-time property valuations and market insights in Morocco, has secured investment from Renew Capital. The company uses advanced data intelligence to provide instant property valuations, which allows users to set accurate pricing for sales or gauge current market values. The platform also offers a range of services, including buyer and seller lead generation and comprehensive market insights.<figure class="image"><img src="/uploads/Linkedin_Templates_14_60fd73a77e.png" alt="Image of Renew Capital co-founders and Morocco's Investment Ecosystem Development Manager alongside Agenz founder."></figure>“We’ve built Agenz to bring transparency and clarity to the real estate market,” said <a href="https://www.linkedin.com/in/malik-belkeziz-8a117966/">Malik Belkeziz</a>, Founder of Agenz. “Our platform helps people make smarter decisions by providing accurate data on property values and market trends. This investment allows us to expand our services and reach more people across Morocco and Africa.”Agenz not only supports individuals looking to buy, sell, or rent properties but also offers professional tools for real estate agents, including advanced valuation and market research solutions. The platform ensures that users, whether homeowners or professionals have the data they need to navigate the real estate process with ease.“Agenz is tackling one of the key challenges in the real estate industry—access to reliable and transparent data,” said the Investment Ecosystem Development Manager at Renew Capital, <a href="https://www.linkedin.com/in/nihal-grii-9278a8ab/?originalSubdomain=ma">GRII Nihal</a>. “By delivering real-time property valuations and insights, Agenz is giving buyers, sellers and real estate professionals the tools they need to make informed decisions. We’re excited to back Malik and his team as they scale their impact on Morocco’s real estate market.”Renew Capital continues to invest in growth-oriented entrepreneurs who are driving innovation and building scalable solutions for Africa’s most pressing needs. Our ambition in Morocco is to support even more startups and help them scale across Africa.&nbsp;Support to Renew Capital portfolio companies is provided in partnership with Global Affairs Canada.<h2>Agenz Apporte Transparence et Données en Temps Réel au Marché Immobilier Marocain</h2>La plateforme fournit des évaluations immobilières en temps réel, des analyses de marché et de la transparence dans les transactions immobilières.Casablanca, Maroc 10 octobre 2024– <a href="https://www.linkedin.com/company/agenztechnologies/">AGENZ</a>, le site immobilier leader au Maroc,&nbsp; accueille le fond panafricain Renew Capital dans son tour de table. Grâce à une intelligence de données avancée, AGENZ révolutionne le marché de l’immobilier au Maroc en permettant à ses utilisateurs d'évaluer avec précision les prix de vente et de naviguer en toute confiance dans leurs transactions.Avec AGENZ, acheteurs, vendeurs, promoteurs et banques bénéficient d'outils puissants pour accélérer et simplifier leurs démarches. La plateforme va bien au-delà des évaluations immobilières précises : elle optimise les transactions grâce à un réseau de plus de 300 commerciaux, internes et externes, déployés à travers tout le pays.<a href="https://www.linkedin.com/in/malik-belkeziz-8a117966/">Malik Belkeziz</a>, fondateur d'AGENZ, explique : « Nous avons fondé AGENZ pour fluidifier les transactions immobilières et démocratiser l’accès à des informations fiables et transparentes. Cet investissement de Renew Capital va permettre à AGENZ d’étendre ses services au-delà du Maroc, tout en renforçant notre impact local sur le marché immobilier. »GRII Nihal, Responsable d’investissement et&nbsp; développement des écosystèmes chez Renew Capital, ajoute : « AGENZ résout un problème fondamental du marché immobilier : la transparence des informations. Leur technologie d'évaluation et leurs analyses en temps réel offrent aux acteurs du marché les outils nécessaires pour effectuer des transactions rapides, efficaces et sécurisées. Nous sommes fiers de soutenir Malik et son équipe dans leur mission de transformer le marché immobilier africain. »Renew Capital continue d’investir dans des entreprises qui révolutionnent les secteurs clés en Afrique. Leur soutien à AGENZ renforce leur ambition de contribuer à l’écosystème entrepreneurial marocain et de promouvoir l'innovation sur tout le continent.Le support accordé à notre portefeuille d’entreprises est fourni en partenariat avec Affaires mondiales Canada.À propos de Renew Capital&nbsp;: Renew Capital est une firme d'investissement panafricaine spécialisée dans les startups à fort potentiel de croissance. Nous soutenons activement les entreprises africaines en leur offrant non seulement du capital, mais aussi des ressources pour se développer sur le marché. Pour plus d'informations, suivez-nous sur nos réseaux sociaux.Clause de non-responsabilité:&nbsp;Ce communiqué de presse a été traduit de l'anglais. Nous vous remercions de votre compréhension pour d'éventuelles maladresses ou imperfections de traduction.

Agenz, a Moroccan real estate platform, secures investment from Renew Capital, offering real-time property valuations and market insights.

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Agenz Provides Transparency and Real-Time Data to Morocco’s Real Estate Market

<h1>Reflecting on Two Years at Renew Capital: An Interview with Chukwudi Ofili</h1><figure class="image"><img src="/uploads/Linkedin_Templates_b7aeec3f66.png" alt="Professional portrait of the Director of Legal at Renew Capital, based in Lagos, Nigeria."></figure>Two years ago, Chukwudi Ofili shared his&nbsp;<a href="https://www.renewcapital.com/newsroom/homecoming-my-journey-to-renew-capital">journey</a> of returning to Nigeria after a stint abroad as part of a successful legal career to date. Since then, he’s been on an exciting chapter of professional growth while witnessing significant developments across Africa's investment landscape. In this follow-up interview, Chudi reflects on the lessons he’s learned and the future he envisions.Chudi, it’s been two years since you joined Renew Capital. Can you tell us about your experience so far and what stands out for you as the firm grows across Africa?It’s been an exciting two years with Renew Capital as we’ve expanded across 14 countries in Africa. With this growth, I’ve had the chance to learn a lot, both personally and professionally. Over time, I’ve learned a few lessons that have really shaped my experience here.<ul><li>Adaptability.&nbsp;This has probably been the most essential skill. With things moving so fast, being prepared for every situation just isn’t realistic. You have to stay flexible, find ways to add value on the fly and embrace the challenges as they come.</li><li>Learning never stops.&nbsp;I have had to unlearn and learn during my time at the firm. I’ve learned to navigate the nuances involved in closing venture capital (VC) investments in tech-enabled startups across different jurisdictions in Africa. At the same time, I have had to build capacity in relation to fund formation and compliance in the United States.&nbsp;</li><li>Curiosity. This is highly encouraged at Renew Capital as we are always looking for new opportunities and different ways to create value for our founders. That mindset has been vital for me.</li><li>Africa’s potential is undeniable. Having been actively involved in ecosystem development, deal reviews and engaging with founders from across the continent. There’s an abundance of opportunities for disruption and innovation with the accelerated adoption of technology.&nbsp;</li><li>Legal frameworks are catching up.&nbsp;Some governments are recognizing that innovation needs the right legal environment to thrive. We’re seeing progress, but founders still need strong legal support to build scalable and investment-ready businesses.</li></ul>You’ve mentioned how law plays a role in innovation. How have you seen governments across Africa support this?At Renew Capital, we’ve been keeping track of these changes through our monthly Legal Briefs. We have, for example, seen updates to corporate laws that are supposed to help startups grow in places like Nigeria, South Africa, Ethiopia and Kenya. For example, in the&nbsp;<a href="https://www.renewcapital.com/newsroom/renew-capital-legal-brief-september-2024">September 2024</a> legal brief, the Ethiopian Capital Markets Authority (ECMA) launched a regulatory sandbox that allows fintech companies to test new products in a controlled space. This trend is also taking place in countries like Nigeria, Ghana and Rwanda. We’re also seeing increased adoption of startup and finance laws across Africa in places like Nigeria, Kenya, Morocco and Ethiopia.You also highlighted adaptability as a key lesson. Why do you think that’s been so important for you?As we’ve grown so quickly, we had to make a lot of changes as we entered new markets, which also comes with its own fair share of new challenges. Being adaptable has been essential for navigating all of that. Whether it’s changing our processes or adjusting to different legal and business environments across Africa, you’ve got to be flexible to succeed here.Looking forward, what excites you most about the next generation of African entrepreneurs?&nbsp;I believe that there is a general consensus that Africa is the world’s next growth market. With the many challenges that we face across the continent, African founders within Africa and in the diaspora are utilizing technology to innovate and provide solutions to the socio-economic challenges that we face on the continent. However, lack of access to capital and the lack of the necessary skills to build scalable and profitable businesses remain pain points for many founders. Notwithstanding, there has been increased activity by Africa-focused and experienced investors who are working hard to close this gap and address these challenges. There is optimism about the African potential.

Chukwudi Ofili, Director of Legal and West Africa Investment Manager at Renew Capital, reflecting on his two-year journey at Renew Capital.


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Reflecting on Two Years at Renew Capital: An Interview with Chukwudi Ofili

Renew Capital has a presence in 14 African countries. We aim to provide insight into Africa's startup scene, along with the opportunities and challenges it presents through a series of blogs from our in-country team. If you share our passion for developing entrepreneurship in Africa, we invite you to check out our&nbsp;<a href="https://www.renewcapital.com/careers">open roles</a>.&nbsp;<h1>Nihal Grii on Innovation and Morocco's Modern, Diverse Culture</h1>Q&amp;A with Renew Capital's investment ecosystem manager in Morocco.Renew Capital is expanding its presence in Morocco and to showcase this remarkable country, we present an insightful Q&amp;A with Nihal Grii, Renew Capital’s investment ecosystem development manager in Morocco. In this Q&amp;A Nihal shares insights on Africa’s growing startup ecosystem, Morocco’s diverse culture, innovation and advances in sustainability.For more details, explore our&nbsp;<a href="https://latest-api.renewcapital.com//uploads/Morocco_Startup_Ecosyestem_Fact_Sheet_006a5a8686.pdf">Morocco Startup Ecosystem Fact Sheet</a>.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe1NnVkQvptzWTdcl4Llf0IyxJhFhVqSxhLRRGhQHluEu_v8KqJuxW-ywrf_JgbXa8KuKD7ZzN7tg6CZLm3PkeaOhInfzNkOo7jDVohmQtsGKl-baLD2EMNZB-2RvQ1YfMCuKOheorWHISryAGcft0fN4Ug?key=uetvN6jPUbvXgO7d4Bq6xQ" alt="Renew Capital founders and Investment Ecosystem Manager in Morocco pose for a photo after attending GITEX Africa 2024.">You have extensive experience in startup development. What initially drew you to work with startups?It's fascinating to see how startups can thrive and drive a nation's economy. What initially drew me to work with startups was their potential for innovation and impact. Startups can be an engine of job creation, technological advancement and economic diversification. They bring fresh ideas to life and solve real-world problems, often leading to significant improvements in quality of life. Seeing how a single startup can create jobs, attract investment and inspire an entire community is incredibly motivating. It's this dynamic environment and the chance to contribute to meaningful change that hooked me from the start.What excites you most about Morocco's and Africa’s innovation and startup ecosystem?What excites me most is the ambition and determination of Africans. There is a powerful drive to overcome challenges and find technological, scalable and impactful solutions to the many problems we face. It's inspiring to see members of the Moroccan diaspora returning with the expertise and resources to help grow the country and the continent. These individuals are true fighters, bringing energy and innovation that fuels the vibrant startup sector. The dynamism and potential of this ecosystem are truly exhilarating.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdgP7tbgu7_jLcMlmok-_RNsiZC5-UQbE1sNTyn8cV8iHS4twYTr6GfqwroeBSfMSV-lel4PGxpm-6_GrX9MIVBIZHwyNNIKjYt8uAV-IoxYJdcA19gdQkeO2S3heTDUOsWnLOyS-1xt6rIacxq2-tFSJ4?key=uetvN6jPUbvXgO7d4Bq6xQ" alt="Founders of Renew Capital and Investment Ecosystem Manager exploring the vibrant startup ecosystem in Morocco.">What is one thing you wish more people knew about Morocco, its culture and its opportunities?I wish more people knew about the incredible blend of cultures that make up Morocco—Arab, Berber, Andalusi, Mediterranean, Hebraic and African influences all coexist here. It's a unique cultural tapestry that enriches daily life. Additionally, Morocco's strategic location, especially in Tangier, where you can see Spain across the Strait of Gibraltar, offers unique opportunities for trade and cultural exchange. Moreover, Morocco is making remarkable strides in clean and sustainable energy, particularly in water management. With plans to increase desalinated water production tenfold by 2030, and the integration of solar energy reducing production costs dramatically, Morocco is turning its natural challenges into strategic advantages.&nbsp;Morocco is a wonderful place to live! We have thriving expatriate communities in cities like Casablanca, Rabat, Tangier and Marrakech. After-work events are frequent, offering great opportunities for socializing and networking. The blend of modern amenities and rich traditions makes life here both comfortable and enriching.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfH_h6RtOTSQqXrxFTblaPqiUWfRD5L5QYfHBCREsQiqk7sSm-rqJWwPwbu06y50EM5crAkjqaOTac_C_qK3HcPaCcoDwbg4ivA1UzxvxtChXSmJOKZlKmK0GkaWwe_Iz1kPEpVdgYiuWGTcDimb5Tj4ww?key=uetvN6jPUbvXgO7d4Bq6xQ" alt="Investment Ecosystem Manager reflecting on the Q&amp;A session against a beautiful green backdrop in Morocco.">Could you provide a brief overview of your role at Renew Capital and what you find most exciting?As Renew Capital’s investment and ecosystem development manager in Morocco, my role is multifaceted, involving project management, stakeholder engagement and investment sourcing and management. I support the execution of private-sector development projects, ensuring we achieve results and meet all project milestones. I also help develop and facilitate our core gender-smart programs by training and coaching SMEs. I also help build relationships with startups, SMEs, development organizations, government agencies and private sector partners.&nbsp; Part of my role also revolves around sourcing potential companies for our investment pipeline, processing new leads and performing due diligence.The most exciting aspect of my work is developing a robust investment pipeline in African countries. Recognizing that many African nations lack sufficient investment-ready startups, we strive to develop this pipeline not just for ourselves but for other investors as well.&nbsp;What advice would you offer to someone looking to enter the startup scene in Morocco?My advice for anyone starting in the Moroccan startup scene is to manage your reputation carefully. Be authentic and trustworthy—investors talk about their experiences, and a single bad experience can affect your future funding opportunities. Secondly, be realistic about your valuations. High valuations can deter potential investors, so use appropriate techniques to assess your true value and raise only what you need to scale. Finally, share feedback and collaborate with other entrepreneurs. Success breeds success, and a strong community can enhance the reputation of the country, attracting more foreign investors. By supporting each other, we can create a thriving startup ecosystem in Morocco.

I wish more people knew about the incredible blend of cultures that make up Morocco—Arab, Berber, Andalusi, Mediterranean, Hebraic and African influences all coexist here.