Hello everyone,
Have you ever wondered why Africa’s smallholder farmers remain poor despite feeding the entire continent? The reasons are plenty—ranging from limited access to finance to outdated supply chains. Fortunately, some startups featured in this edition have secured funding to change that. Here are the top headlines:
- Wami Agro gets additional funding to boost smallholder farmers’ income.
- Ghana-based KYC fintech Regulon gets backing from Baobab Accelerator.
- $8 million to deepen customers’ Affinity for digital banking.
- Yemaachi Biotechnology partners with Roche to establish an Africa-focused cancer genomic and clinical database.
- BlueSPACE Financial Cloud launches Ghana’s first USSD auto insurance marketplace
- 3 Ghana-based startups advance to the next phase of the AfriCircular Innovators Programme.
- Wi-flix partners with Japan Broadcasting Corporation to provide subscribers access to Japanese content.
Accelerator
3 Ghana-based startups advance to the next phase of the AfriCircular Innovators Programme.
FITA Autotech, Sabon Sake and Eco-Solve Innovations have been selected to advance to the next phase of the AfriCircular Innovators Programme, a pan-African initiative designed to accelerate circular economy solutions. The companies will now gain access to advanced technical coaching and funding opportunities to scale their innovations.
FITA Autotech offers an auto-service marketplace that promotes sustainable car maintenance by facilitating the recycling of car parts and eco-friendly diagnostics for both traditional and electric vehicles; Sabon Sake transforms agricultural waste into biochar to enhance soil quality and promote regenerative farming; and Eco-Solve Innovations Africa develops biodegradable cassava-based alternatives to plastic bags to combat environmental pollution.
Funding
Wami Agro gets additional funding to boost smallholder farmers’ income.
Wami Agro, the Ghana-based agritech company, has secured additional funding from Acumen. The new capital injection will enable the company to scale its operations, expand sourcing to neighbouring countries such as Sierra Leone and Burkina Faso, and roll out its proprietary digital farm management platform, Pukpara.
Wami Agro addresses the persistent challenges faced by Ghana’s smallholder farmers, who constitute 70% of the agricultural workforce yet struggle with poverty. To bridge this gap, Wami Agro provides an integrated suite of tech-enabled solutions (Wami Market, Wami Credit, and Wami Info) designed to boost farmer incomes, productivity, and resilience.
Ghana-based KYC fintech Regulon gets backing from Baobab Accelerator.
Regulon, a company simplifying business onboarding and automating compliance for fintechs across Africa and the UK, has been selected to join the Baobab Accelerator. The company will receive a $100,000 investment in exchange for 12.5% equity.
Regulon makes onboarding easier by letting businesses create company profiles that can be reused and shared. These profiles are linked to a “Regulon ID,” giving fintechs a single, trustworthy source for verifying customer information.
$8 million to deepen customers’ Affinity for digital banking.
The Ghana-based digital bank Affinity has secured a $8 million seed round co-led by European VC firms Grazia Equity (Germany) and BACKED VC (London). Founded by Tarek Mouganie, Affinity operates as a digital bank. It offers a full suite of banking services, including current savings and investment accounts, transfers, payments, and loans, focusing on financially excluded populations in Africa. The company has disbursed $15 million in loans across various products, with instant loans growing 30% month-over-month and a non-performing loan rate of just 3%.
Partnership
Yemaachi Biotech, a genomics research company based in Ghana, has partnered with Roche to launch The African Cancer Atlas (TACA), to address the significant underrepresentation of African genomic data in global cancer research. The partnership will establish the world’s most comprehensive cancer genomic database focused on African populations, providing critical insights to drive more effective and inclusive cancer treatments.
TACA will generate genomic and clinical data from up to 7,500 African cancer patients and sequence up to 15,000 genomes (tumour and paired normal). Roche will provide funding, technical input, and support to accelerate the initiative.
BlueSPACE Financial Cloud launches Ghana’s first USSD auto insurance marketplace.
BlueSPACE Financial Cloud, in partnership with MTN MoMo, CALBANK, Rudder Brokers and other leading insurance providers in Ghana, has launched BeINsured, Ghana’s first USSD-based auto insurance marketplace. With this platform, drivers can access multiple insurance options, compare policies, and select flexible payment plans without an internet connection.
Wi-flix, one of Africa’s subscription video-on-demand streaming platforms, has partnered with NHK WORLD-JAPAN, the international service of Japan’s public broadcaster, to deliver high-quality Japanese content to its subscribers. By adding the public broadcaster to its portfolio, Wi-flix subscribers can access a rich blend of Japanese news, culture, and entertainment, further enhancing its global content offering.
Until next time,
The GIJ Team
