Hi everyone, and welcome back to This Week in StartupGhana newsletter! From new funding milestones to strategic appointments and accelerator programmes, we’ve got the latest news shaping the future of business and technology. Here are the top headlines:
- Founder and Investor Sangu Delle elected Board Chair of Ashesi University.
- Ashesi University awards $80,000 in grants to 16 alumni-led businesses.
- Akofresh secures $29,000 to tackle post-harvest losses.
- Sommalife secures €440,000 in debt financing to address operational logistical bottlenecks.
- eTranzact Ghana and Npontu Technologies launch AI and Payments Accelerator programme.
- Fund Manager of Ghana’s $10 million Youth Fund selected.
- Shaping Ghana’s Green Future: The disruptors who mattered in climate tech in 2024.
Accelerator & Incubator
eTranzact Ghana and Npontu Technologies launch AI and Payments Accelerator programme.
Two Ghana-based tech companies, eTranzact Ghana and Npontu Technologies have partnered to launch an accelerator programme to support the next generation of builders. In partnership with the Commonwealth Enterprise and Investment Council (CWEIC), the official business arm of the Commonwealth of Nations, the accelerator will provide selected startups with access to funding, mentorship and technical expertise to develop cutting-edge AI-powered payment solutions. Interested companies must be developing AI-powered payment solutions that can improve financial inclusion, increase efficiency, and reduce costs.
Funding
Ashesi University awards $80,000 in grants to 16 alumni-led businesses.
In partnership with the Allan & Gill Gray Foundation, Ashesi University has awarded $80,000 in grants to 16 alumni-led businesses to scale operations, expand markets, and address critical growth challenges. Selected from a pool of 21 applicants, the 16 ventures include innovative businesses like PayBox, Sabon Sake, Gamma Energie, Sincerely Accra, Think Education and WhollyKombucha.
Akofresh secures $29,000 to tackle post-harvest losses.
Akofresh has secured $29,000 as one of the winners of the Youth4Climate initiative by the Italian government and UNDP to identify and support youth-led climate solutions. The fundig will enable Akofresh to accelerate its mission of reducing post-harvest losses. Its IoT-enabled, solar-powered and mobile off-grid cold storage units extends the shelf life of perishable crops.
Sommalife secures €440,000 in debt financing to address operational logistical bottlenecks.
Sommalife, the Wa-based shea-focused agtech platform, has closed €440,000 in debt funding from the Kampani, the Uganda-based social impact fund. The investment will enable Sommalife to address logistical challenges that pose a bottleneck to its operations. The company plans to acquire trucks and other transportation assets, reducing its reliance on third-party providers. This will help to streamline collection and delivery processes, improve traceability, and accelerate payments to farmers, further enhancing the company’s impact on the shea value chain.
Fund Manager of Ghana’s $10 million Youth Fund selected.
The quasi-public Venture Capital Trust Fund (VCTF) has selected a fund manager for its upcoming Youth Fund, according to a senior executive familiar with the matter. The trust is currently conducting due diligence on the selected manager.
VCTF plans to anchor the Youth Fund with an initial commitment of $3 million, while the fund manager is tasked with raising additional commitments to reach the fund’s target size. The Youth Fund will focus on investing in pre-seed and seed-stage technology startups based in Ghana.
Talent
Founder and Investor Sangu Delle elected Board Chair of Ashesi University.
Dr. Sangu Delle has been elected as Chairperson of Ashesi University’s Board of Directors. A member of the board since 2018, Dr. Delle takes over from Dr. Yaw Asare-Aboagye, who served as Chairperson from 2020 to 2024 and will continue to serve as a member of the board. In addition to serving as Chairperson, he also serves on the board’s Finance Committee and chairs the Audit and Risk, and Legal Committees.
Dr. Delle is Chairman of CarePoint, a tech forward healthcare system operating across Africa, focused on building the continent’s healthcare future. Prior to this he was the Chief Executive Officer of Golden Palm Investments which has two African unicorns (Andela, Flutterwave) in its portfolio.
Shaping Ghana’s Green Future: The disruptors who mattered in climate tech in 2024.
As part of our 2024 wrap-up series, we spotlighted disruptors developing solutions to reduce or eliminate carbon emissions across the continent. The featured companies are driving innovation in logistics, agriculture, and energy, paving the way for a more sustainable future. Find the list here: Green Champions
Until next time,
The GIJ Team
