Entrepreneurial energy is rising across Africa, from Lagos to Lusaka. This week alone, startups across Kenya, Morocco, Egypt, South Africa and Mali collectively secured more than $200 million in fresh funding underscoring the continent’s growing maturity in climate tech, fintech, clean energy and Web3 infrastructure.
The deals, spanning early-stage to Series C rounds, reflect a pattern of steady expansion and investor confidence. Africa’s founders are no longer just chasing scale they are defining the blueprint for sustainable, inclusive growth.
Kenya’s Mawingu Raises $20 Million to Bridge Africa’s Connectivity Divide
Kenyan connectivity pioneer Mawingu secured $20 million in Series C funding from Pembani Remgro Infrastructure Fund II (PRIF II), E3 Capital, FMO, InfraCo Africa and Microsoft.
Founded in 2012 by Ben Matranga and Farouk Ramji, Mawingu has become a cornerstone of rural internet access in East Africa. Its fixed-wireless and fibre networks currently reach over 120,000 people in Kenya and Tanzania, a jump from 16,000 subscribers in 2022 to nearly 59,000 by early 2025.
“The $20 million investment will accelerate our mission to connect one million people by 2028,” Ramji said, noting that the funding will go toward network acquisitions and infrastructure upgrades. With PRIF II taking a significant stake, Mawingu is now one of the few African ISPs combining affordability with sustainable rural broadband coverage.
Fluoralpha Secures $110 Million to Fuel Morocco’s Green Industrial Revolution
Morocco’s Fluoralpha, a spin-out from Mohammed VI Polytechnic University, raised $110 million from the Bank of Africa to industrialize phosphate-based fluorine materials critical to EV batteries and semiconductor manufacturing.
Founded in 2023, Fluoralpha is building a $280 million facility in Jorf Lasfar to produce 48,000 tonnes of fluorine derivatives annually, creating a local circular economy around Morocco’s vast phosphate reserves.
By turning mining byproducts into high-value exports, the startup aims to cut import dependency and embed Morocco into Europe’s EV and chip supply chains. The investment marks one of North Africa’s largest deep-tech industrial bets this year anchoring both environmental goals and industrial diversification.
Egypt’s Plstka Turns Waste into Wealth
In Egypt, Plstka, founded by Ahmed Elnagar, closed a $1 million round from Empire Angels Bridge to scale its AI-powered recycling app that gamifies waste collection.
With over 50,000 users and 1,500 tonnes of waste processed, Plstka connects households and businesses to digital recycling rewards, promoting accountability and circularity. The company plans to expand into six new cities, targeting 250,000 users by 2025, and is developing machine learning tools for route optimization.
Its growth illustrates how African climate-tech startups are localizing global sustainability models, aligning innovation with impact.
South Africa’s Pura Beverage Company Raises $14 Million for Global Expansion
In the consumer goods sector, South Africa’s Pura Beverage Company, led by Greig Jansen, raised R260 million (US$14 million) from private investors to expand internationally.
Founded in 2017, Pura produces low-sugar, preservative-free drinks under the PURA Soda, PURA Kids and PURA Hydration lines. Already distributed in 13 countries, the brand achieved over $1 million in sales on its U.S. launch day, capitalizing on the global “better-for-you” beverage trend valued at $1.4 trillion.
The new funding will strengthen U.S. distribution, marketing and R&D, positioning Pura as one of Africa’s most globally competitive FMCG players.
Mali’s OKO Expands Climate Insurance for Farmers
Mali-based OKO, founded by Simon Schwall and Shehzad Lokhandwall, secured a six-figure bridge round from Catalyst Fund and existing backers to expand its parametric insurance solutions for smallholder farmers.
Using satellite data and mobile payments, OKO delivers automatic payouts for drought and flood events, eliminating delays and middlemen. The company has insured over 33,000 farmers across Mali, Uganda, Côte d’Ivoire, Mozambique and Angola.
With donor support tightening across Africa, this funding will sustain OKO’s operations and deepen partnerships with banks and agribusinesses. The company aims to integrate climate insurance into agricultural value chains, positioning itself as a key resilience tool in Africa’s food security architecture.
Egypt’s Sabika Brings Sharia-Compliant Gold Investment to the Digital Age
Egyptian fintech Sabika, founded by Ibrahim Anwar and Mohammed Darwish, raised a six-figure strategic round from M-Empire Angels to scale its Sharia-compliant investment platform.
The platform allows users to buy and invest in physical gold and silver in line with AAOIFI standards. Since launching in 2022, Sabika has processed EGP 120 million in transactions for 20,000 users achieving growth entirely through organic traction.
With new funding, Sabika plans to introduce AI-powered wealth tools and expand into the Gulf region, targeting ethical investors seeking both faith-aligned and technology-driven wealth solutions.
Investor Moves: Web3 and Clean Energy Funds Gain Ground
In parallel, investors are deploying new capital vehicles to back Africa’s next growth phase. Lisk launched a $15 million EMpower Fund for early-stage Web3 startups in emerging markets, with investments in Lov.cash (South Africa) and Afrikabal (Rwanda). The fund pioneers a tokenized LP structure, blending traditional venture capital with blockchain-enabled liquidity.
Meanwhile, Nedbank Corporate and Investment Banking invested $28 million (R488 million) into New GX Capital’s Airnergize Fund I, boosting the clean infrastructure vehicle to $161 million toward a $200 million target.
The fund’s portfolio already includes Sustainable Power Solutions (SPS), with CEO Khudusela Pitje calling the partnership “a catalyst for Africa’s clean energy transition.” The move cements Nedbank’s role as a leading institutional backer of Africa’s decarbonization journey.
A Continent in Motion
These deals spanning internet infrastructure, industrial deep tech, climate resilience and sustainable consumer goods signal a defining moment for African entrepreneurship. Beyond the headlines, they reflect a continent recalibrating its innovation agenda toward long-term competitiveness.
Africa’s startups are no longer content with catching up they’re leapfrogging into the future, armed with capital, technology and conviction.
Entrepreneurial energy is rising across Africa, from Lagos to Lusaka. Entrepreneurial energy is rising across Africa, from Lagos to Lusaka.
