EIB Global has committed $46 million to the Speedinvest Africa Fund, reinforcing efforts to accelerate Africa’s digital economy while advancing inclusive growth.
The fund, managed by Speedinvest, has a target size of €200 million and will finance high-potential startups across key African innovation hubs, including Kenya, Nigeria, South Africa, Egypt, and Morocco, alongside emerging markets such as Ghana, Tanzania, Uganda, and the Democratic Republic of Congo.
A central feature of the fund is its strong commitment to women-led and gender-inclusive ventures. At least 30% of the capital will be directed toward businesses that advance gender equality—particularly startups founded or led by women, or those delivering products and services that significantly benefit women and girls. This positions the fund as a key driver in closing the gender financing gap in Africa’s innovation ecosystem.
The investment also targets technology-enabled sectors, including fintech, digital healthcare, mobility, and education. It also seeks to expand financial inclusion, creating jobs for young people, and enabling startups to scale across African and European markets.
According to Karl Nehammer, the initiative demonstrates how strategic investment can transform innovation into real economic and social impact by helping African entrepreneurs access new markets and grow sustainably.
Oliver Holle emphasised that the fund deepens Speedinvest’s long-term commitment to African founders, supported by a hybrid model combining local presence with European networks, expertise, and capital access.
The fund will be led by partners Deepali Nangia and Rana Abdel Latif, with plans to establish a dedicated African office to strengthen on-the-ground support for founders—especially women entrepreneurs building scalable, high-impact businesses across the continent.
About the Author
