Renew Capital

What an eventful evening we had last night with an amazing group of people all dedicated to supporting entrepreneurship across the continent!

A big thank you to Global Affairs Canada for hosting us and to Convergence for partnering with us to make this gathering possible.

And a heartfelt thank you to everyone who joined us.

The new Legal Brief is out!

Every month, Chudi and the legal team curate insights on the latest regulatory shifts shaping Africa's startup ecosystems.

This month’s brief covers key changes - from Ethiopia’s FX market transparency push to Kenya's tax shake-up.

Check it out for more insights!
https://hubs.li/Q02WgPfK0

African countries face heightened climate change impacts due to economic and infrastructure challenges. This makes climate action critical.

Using DAC technology, Octavia Carbon is designing machines to extract CO2 from the air.

Here’s how Octavia Carbon is transforming climate action in Africa with cutting-edge technology.

Link - https://hubs.li/Q02VDgvw0

Secrets of Tanzania’s Momentum

This week, we’re highlighting key developments in Tanzania, like the new Standard Gauge Railway (SGR) and the fintech sandbox that seeks to reduce barriers to innovation.

Check out the blog for more insights on the country’s strategic initiatives and potential for growth.
https://www.renewcapital.com/newsroom/secrets-of-tanzania-momentum

We are psyched to celebrate the incredible talent from the NINJA Acceleration Program 2024!

Over the last three months, these entrepreneurs have worked hard to master Business Fundamentals, Product Development, Growth & Scaling and Investment Readiness. Now, they’re ready to showcase their innovations on the global stage at GITEX in Dubai!

With the support of the Japan International Cooperation Agency (JICA) and Ministry of Innovation And Technology - Ethiopia, the program has prepared these founders to scale their businesses and make a real impact.

If you’re attending GITEX Dubai, make sure to connect with Kabba Transport, Marakisoft Technologies, DrongoERP, FutureX educational consultancy, Tewos Technology and Waza Addis Trading plc.

Renew Capital is now officially in Morocco!

And we are also excited to unveil our first investment in the country - Agenz

Agenz is a data-driven platform that provides real-time property valuations and market insights in Morocco. Using advanced data analytics, Agenz provides essential tools for accurate pricing and market understanding, empowering users to make informed real estate decisions.

Learn more about this new investment! > https://www.renewcapital.com/newsroom/agenz-provides-transparency-and-real-time-data-to-moroccos-real-estate-market

$20B
That’s the funding targeted for empowering gender-smart companies and financial institutions in the next three years.

Last week, October 3, at the "Unlocking Capital, Empowering Women" event, we brought together thought leaders and decision-makers of financial institutions to introduce and form the preliminary members of a community of practice (CoP) dedicated to building a gender-smart economy in Ethiopia. This CoP seeks to attract gender-smart capital into the country by leveraging the 2X Challenge initiative.

Since 2018, 2X Global has already raised and deployed more than $33B in capital for businesses that meet 2X criteria in developing countries outside Ethiopia. They aim to deploy another $20B in the next three years alone.

The event informed participants about the considerable global capital available for gender-smart investing and highlighted the opportunity for Ethiopian financial institutions to attract tens to hundreds of millions of USD into the country.

Renew Capital is proud to play a key role in building a gender-smart economy for Ethiopia’s women entrepreneurs.

Big thanks to everyone for supporting Ethiopia’s women entrepreneurs!

Consumers in Ethiopia enjoy affordable shopping through group buying.

ChipChip is making online shopping more affordable by connecting consumers directly with suppliers. Using group buying, people can unlock bulk prices. No middlemen involved.

We’re proud to support Redwan and the team as they scale their platform and bring savings to more communities while supporting local farmers and suppliers.

Find out more about ChipChip and our recent investment: https://hubs.li/Q02SvmSq0

Celebrating two years with Renew Capital!

Our Director of Legal & West Africa Investment Manager, Chukwudi Ofili, just marked two years with us. During this time, Renew Capital has continued its growth journey, now operating in 14 countries.

In a recent interview, Chudi reflects on what he’s learned along the way.
Here are his insights:
https://www.renewcapital.com/newsroom/reflecting-on-two-years-at-renew-capital-an-interview-with-chukwudi-ofili

Chpter is changing how African businesses sell on social media!

Using the power of AI, Chpter is helping businesses automate conversations, marketing and payments. This makes it easier for companies to connect with customers and drive sales on WhatsApp and Instagram.

Learn more about Chpter and the Renew Capital investment > https://www.renewcapital.com/newsroom/press-release-chpter-secures-investment-to-drive-sales-for-african-businesses-on-social-media

Looking for investment? Apply now at Renew Venture Lab: https://venturelab.renewcapital.com/

Africa’s legal and regulatory scene is changing. Some of the latest moves in key markets include:

↳ Ghana: The Bank of Ghana issued draft guidelines to lift the ban on cryptocurrencies, bringing hope for a regulatory framework that boosts investor confidence in digital assets.
↳ Ethiopia: The Ethiopian Capital Markets Authority launched a regulatory sandbox, offering startups a safe space to test new capital market products.
↳ Egypt: Non-resident foreigners can now open Egyptian bank accounts with full access to banking services, thanks to new directives from the Central Bank of Egypt.

Check out the latest Legal Brief for all the details!
https://hubs.li/Q02QdHtZ0

$919B.
That’s the amount transacted in 2023 through mobile money transactions facilitated by 8.3 million active agents across the globe.

Yet, many agents still use outdated, manual tools.

Opareta are shaking things up with an innovative digital infrastructure that's making life easier and more efficient for these agents while promoting financial inclusion.

Learn more about Opareta and why we invested in them: https://hubs.li/Q02PFbl40

Have you signed up yet?

Join us for the virtual trade training tomorrow, September 4, at 4 pm EAT/3 PM CAT. This session will focus on how to strategize and create plans as you expand your regional trade activities.

Secure your spot now! https://share.hsforms.com/1xaRAIqYFS-Wka_N7wx161wee4rj?utm_campaign=Trade%20Training%20-%20Aug%202024&utm_source=facebook&utm_medium=social

Ethiopia's Birr has floated, but not everything is smooth sailing.
The Birr has dropped 47% against the USD in just four weeks. Ethiopian business owners are adapting to rapidly shifting dynamics.

What's changed?

✔ Banks now trade foreign currency at market rates.
✔ Import restrictions have been lifted on 38 product categories.
✔ New opportunities are emerging for foreign investors.

But uncertainty looms. Businesses are navigating new challenges, from fluctuating exchange rates to contractual challenges. As the Birr stabilizes will there be more turbulence ahead?

Get the full breakdown of how businesses are adjusting and what’s next. >> https://www.renewcapital.com/newsroom/ethiopian-birr-stabilizes-business-owners-eye-risks

🚀 Renew Capital is expanding further in 2024-2025. Wondering where we are going next?

Check out our recently released report: https://hubs.li/Q02MSJ9f0

Ethiopia sweeping changes!

Ethiopia is opening its doors to foreign banks, allowing up to 49% ownership with potential for full control.
Further north, both local and foreign investors can now run and profit from public health facilities in Egypt!

Get these and more insights in the legal brief! https://hubs.li/Q02MHS-S0

Are you an entrepreneur? Have you signed up for the trade training that’s taking place on September 4?

Register now for a chance to receive free coaching support with your regional expansion! https://share.hsforms.com/1xaRAIqYFS-Wka_N7wx161wee4rj?utm_campaign=Trade%20Training%20-%20Aug%202024&utm_source=facebook&utm_medium=paidsocial

The training program will empower businesses to take advantage of new regional trade arrangements that will soon be implemented under the recently signed African Continental Free Trade Area (AfCFTA).
Over the course of the program, participants will better understand:
✔ Recent developments related to trade liberalization in Africa.
✔ The benefits of regional trade.
✔ Strategies that can be deployed when looking to increase trade.
✔ How to develop regional market entry strategies and execute trade plans.
✔ Tools that can be used to facilitate their (new) regional market entry.

The program is entirely funded by the Government of Canada – there are no costs for participating.

Form

Most people in Africa don't have a postal address. By 2050, two-thirds of the population will live in cities, making accessible postal services more important than ever.

MPost is changing the game by allowing users to use their phone numbers as their postal addresses.

Find out why Renew Capital invested in MPost https://www.renewcapital.com/newsroom/why-we-invested-in-mpost-facilitating-universal-access-to-postal-addresses-in-africa