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Janngo Capital has reached the final close of its oversubscribed $78 million fund, marking Africa’s largest gender-equal tech Venture Capital (VC) fund

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Janngo Capital

With this fundraising, Janngo Capital becomes the largest venture capital firm accelerating gender equality in Africa

ABIDJAN, Ivory Coast, October 31, 2024/APO Group/ — 

Since inception, the firm has made about 30 investments in 21 startups and has successfully exited the leading fintech company Expensya, achieving an average internal rate of return (IRR) of 48%.

Pan-African venture capital firm Janngo Capital (http://apo-opa.co/3YvuL2W) announces the final closing of its second fund at $78 million, 20% beyond its initial target. This fundraising demonstrates the confidence of leading institutional and private financial investors in Janngo’s team and track record. The firm’s investment thesis strikes the right balance between solid financial returns and tangible impact as evidenced by the successful exit of Expensya to unicorn Medius and by its 56% women-led portfolio companies, such as the soonicorn Sabi (http://apo-opa.co/48vBKxz).

Leading new investors including Mastercard Foundation Africa Growth Fund, DFC, IFC and ANAVA join first close investors

“We are proud to announce the final closing of our second investment vehicle at $78 million, 20% above our initial target pledged in Davos. We are particularly honored to have attracted a great mix of top-tier investors, African and global, institutional and private, impact and commercially driven to support our ambitious vision. Beyond our team, it is a strong signal of confidence in the African tech ecosystem and its solid growth prospects. We are committed to keep supporting category-defining startups leveraging technology to help leapfrog development in Africa, in a more equal way.” commented Fatoumata Bâ, Founder and Executive Chair of Janngo Capital.”

Janngo Capital Startup Fund’s anchor investors doubled down by reinvesting in this final closing, such as:

– The European Investment Bank (EIB), the world’s largest multilateral development bank, active in 160 countries. “Empowering female entrepreneurs across Africa is crucial for unlocking the continent’s full potential. The European Investment Bank is pleased to support venture capital investment by the Janngo Capital Start-up Fund that is enabling women-led businesses to thrive, innovate, harness technology and create sustainable jobs. By providing access to finance and fostering entrepreneurial talent, we are not only contributing to gender equality but also driving economic growth and resilience across Africa.” – Ambroise Fayolle, Vice President, European Investment Bank ; and,

– The African Development Bank (AfDB), Africa’s largest development finance institution with 81 member countries (54 regional and 27 non-regional).

Additionally, 6 new world-class  investors joined this final closing, such as:

We are committed to keep supporting category-defining startups leveraging technology to help leapfrog development in Africa, in a more equal way

– Mastercard Foundation Africa Growth Fund – MEDA, an innovative impact fund of funds initiative targeting Africa-based investment vehicles. “Creating secure, dignified, and fulfilling jobs is a priority for Africa’s economic growth,” says Samuel Akyianu, Managing Director of the Mastercard Foundation Africa Growth Fund. “For Africa to achieve its development agenda, as well as the UN Sustainable Development Goals, innovative and proactive approaches to job creation for women and youth—are essential.” Akyianu adds that The Mastercard Foundation Africa Growth Fund, managed by the Mennonite Economic Development Associates (MEDA), is a first-of-its-kind Fund of Funds anchoring African-focused and domiciled investment vehicles like Janngo. It provides the capital and business development support to invest in SMEs across sub-Saharan Africa, increasing the job-creation potential of African entrepreneurs. Guided by gender-lens principles, the Fund is proud to support Janngo in creating sustainable, inclusive opportunities that empower women and youth, driving the continent’s long-term growth.

– The U.S. International Development Finance Corporation (DFC) is the U.S. government’s development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing developing countries. “DFC is delighted to partner with Janngo Capital Start-up Fund, a commitment intended to support the continued development of the venture capital ecosystem across Africa. Janngo’s approach of leveraging capital and technology nurtures entrepreneurship while fostering economic empowerment. Through DFC’s commitment, this partnership will result in improved access to financial resources, bolster economic stability, and increased job opportunities, especially for women and the youth”, said Senior Vice President of Investments, Mateo Goldman.

– International Finance Corporation (IFC) – a member of the World Bank Group – is the largest global development institution focused exclusively on the private sector in developing countries. “The project will help expand access to early-stage equity financing for tech entrepreneurs in the Francophone West Africa region, which is underserved by venture capital compared with other regions in Africa,” said Farid Fezoua, Global Director for Disruptive Technologies, Services, and Funds at IFC. “We are delighted to support the fund’s investment strategy through this project, as it intends to allocate 80% of its invested capital in low-income and post-conflict countries and at least half in women-led companies. This investment is part of the IFC Startup Catalyst program, which supports incubators, accelerators, and seed funds investing in innovative early-stage startups in nascent venture ecosystems with capital, mentoring, and networking.”

– ANAVA (Smart Capital), a Tunisian fund of funds backed by the World Bank, CDC, and KFW; and additional private investors such as the leading African university endowment fund.

100% tech, 100% Africa, 100% equal

Janngo Capital Start-up Fund invests up to €5 million, from seed to growth, in technology startups that (1) enable Africans to improve their access to essential goods and services such as healthcare, education or financial services, (2) enable African SMEs to improve their access to market and capital, or (3) create sustainable jobs at scale, with a focus on women and youth.

Janngo Capital, its management company, is one of the very few female-founded, owned and led venture capital firms in Africa. In 2020, the firm made a strong commitment to gender equality, pledging up to 50% of investments in companies founded, co-founded or benefiting women during the World Economic Forum in Davos. In 2023, Janngo Capital won the Gender Equality Award at the Africa CEO forum, in recognition of its 56% portfolio companies founded, co-founded or benefiting women and of its 91% portfolio companies complying with 2X criteria (http://apo-opa.co/48uiPTS).

30+ investments in 21 portfolio companies and a landmark exit

In less than 6 years, the firm has built a portfolio of 30+ investments across its 2 investment vehicles in 14 countries. Its portfolio companies have since expanded in over 20+ countries, spanning across key sectors such as healthcare, logistics, financial services, retail, food & agri, mobility and the creative industry and generating several billion dollars of transactions per year while creating more than 20 000 jobs. Key investments include Sabi (http://apo-opa.co/48vBKxz), a woman-led Nigerian soonicorn, recently named to the world ranking of Fast Company’s (http://apo-opa.co/48pMcH3) Most Innovative Companies. With exponential growth over the last three years, more than 250,000 registered users, 15,000 monthly orders and a revenue that has tripled in 2023 on an annualized basis compared to 2022, Sabi generates more than $1 billion of GMV per year.

The firm has also successfully achieved the exit of Expensya, founded by Tunisian entrepreneurs Karim Jouini and Jihed Othmani, with an average Internal Rate of Return (IRR) of 48%. The sale of Expensya to the Unicorn Medius, a global leader in “CFO as a Service” technology solutions and a key gateway for financial management, represents one of the largest transactions in the MENA region. Over the past two years, Expensya has more than doubled its recurring revenue and expanded its team to over 200 employees across Tunisia, France and Germany. The company had raised $20 million in a Series B financing round in May 2021. Janngo Capital was the first African VC on Expensya’s cap table and has invested at seed and series B.

Distributed by APO Group on behalf of Janngo.

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African Energy Week (AEW) 2026 Technical Sessions Put Technology Behind Africa’s Next Energy Projects in Focus

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Day 2 technical sessions at African Energy Week 2026 will examine frontier exploration, major gas developments, project economics and the technologies supporting Africa’s expanding oil, gas and LNG sectors

CAPE TOWN, South Africa, September 22, 2026/APO Group/ –African Energy Week (AEW) 2026’s Day 2 Technical Stages will put the technology and technical expertise behind Africa’s next wave of energy projects in focus, with sessions covering subsurface interpretation, deepwater exploration, gas development, project economics, digitalization, offshore operations and infrastructure.

 




  

The program will unfold across two exhibition-hall stages, with the Drill Room focusing on practical applications across exploration, gas development, offshore operations and LNG, while the Innovation Hub will examine frontier exploration, energy markets, digital technologies and infrastructure. Together, the sessions connect project-level technologies with the wider investment and development challenges facing Africa’s energy industry.

The day opens with GeoEnergy Petroleum Director Maged Fahim, who will examine how legacy and newly acquired subsurface datasets can be integrated with modern technologies to identify additional upstream opportunities. TGS Principal Exploration Advisor Felicia Winter will then focus on Angola’s deepwater basins, examining how modern seismic acquisition and imaging can be used to reinterpret existing data and evaluate frontier plays.

The discussions come as Angola seeks to build on renewed offshore activity. TotalEnergies announced in September that it plans to invest $10 billion in Angola over the next five years, including in exploration, while advancing its $6 billion Kaminho deepwater development.

Gas development will take center stage through two presentations by TotalEnergies. Alexandre Depiesse, GPI Venus, will address appraisal strategies and commercial viability for Orange Basin discoveries, while Mozambique LNG Operations and Project Director Nicolas Cambefort will examine development and optimisation of the Rovuma Basin gas resources. Mozambique LNG, a 13.1-million-ton-per-year project in Area 1 led by TotalEnergies, resumed activities in January 2026 following the lifting of force majeure, putting development of Mozambique’s major offshore gas resources back into focus.

AEW 2026 reflects the practical challenges facing Africa’s energy industry as projects move from resource potential toward development and production

The Republic of Congo National Showcase will provide another perspective on Africa’s expanding LNG industry. The country’s Congo LNG project reached a new stage in February 2026 with the start of commercial production from its second phase. The addition of the Nguya FLNG unit brought total liquefaction capacity to 3 million tons per year, expanding Congo’s ability to monetize its offshore gas resources.

The program will then broaden from individual projects to the continent-wide investment outlook with the launch of The State of African Energy 2027. AEC Senior Vice President Verner Ayukegba and S&P Global Energy Executive Director Max Pietzsch will present the outlook, covering upstream oil and gas, LNG, downstream markets, power, renewables and critical minerals against changing demand, trade flows and energy security requirements.

Project decision-making will remain under examination as S&P Global Energy Technical Research Analyst Tasnika Goorhoo presents “From Limited Data to Better Decisions: How Benchmarking Strengthens Upstream Project Outcomes.” The session will examine how comparative project data can help operators assess performance, costs and development outcomes.

NOV Vice President Mats Anderson will address offshore optimization through high-speed downhole connectivity and real-time distributed measurements, examining how faster access to downhole information can improve operational visibility and decision-making.

Infrastructure will also feature prominently, with Kenyon International West Africa CEO Victor Ekpenyong examining asset integrity and pipeline infrastructure through the company’s CACTUS and FlexSteel technologies. Honeywell Technologies Africa will close the technology-focused sessions with its end-to-end LNG offering, while SLB, InSwitch, the Petroleum Directorate of Sierra Leone and PETROSEN will bring additional perspectives on technology, digitalization and energy services.

“AEW 2026 reflects the practical challenges facing Africa’s energy industry as projects move from resource potential toward development and production,” said NJ Ayuk, Executive Chairman of the AEC. “From subsurface interpretation and deepwater exploration to LNG development, project benchmarking, digitalization and infrastructure, these technical sessions highlight the expertise and technologies needed to develop Africa’s resources efficiently and create lasting value across the energy value chain.”

AEW 2026 takes place from October 12–16 in Cape Town, bringing together governments, investors, operators and technology providers to discuss investment, project development and the future of Africa’s energy sector.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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Rising power costs put energy strategy at the centre of industrial competitiveness

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C&I Energy + Storage Summit Johannesburg to focus on the procurement, cost and investment decisions facing South Africa’s large energy users

JOHANNESBURG, South Africa, September 22, 2026/APO Group/ –The cost of electricity is no longer only an energy issue for South African businesses. It is increasingly a question of competitiveness, investment and long-term operational resilience.

Recent figures show the pressure on large power users. Business Day reported on 7 September that South Africa’s mining and industrial majors paid Eskom R115 billion for electricity in the 2025/26 financial year. According to Eskom’s annual report, industrial electricity demand fell by more than 22% over the same period as high power costs weighed on energy-intensive operations.

 




  

At the same time, major businesses are moving to alternative supply. Reuters reported on 26 August that South African mining companies are accelerating investment in renewable energy to cut costs, diversify supply and meet decarbonisation targets.

For commercial and industrial energy users, the question is no longer simply how to secure power. It is how to buy it, what to invest in, and which energy strategy makes the strongest commercial sense.

Energy procurement is becoming more complex

Businesses are now weighing several procurement options at once. Should they sign a long-term PPA? Buy through an electricity trader? Wheel renewable power across the grid? Invest in behind-the-meter generation? Add battery storage? Each option carries different implications for cost, risk, contracting and long-term flexibility.

These decisions will take centre stage at the C&I Energy + Storage Summit Johannesburg, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton. The programme is built around the practical challenges facing energy buyers today, with a focus on real projects, commercial models and implementation rather than technology in isolation.

A programme built around the buyer’s decisions

The summit closes with the C&I Decision Clinic: Ask the Experts, a masterclass where attendees submit real project challenges in advance and receive practical, anonymised responses from experts. Questions on the table include whether to build onsite PV or sign a wheeled PPA, how much battery storage makes commercial sense, what a bankable project preparation pack should contain, and what financiers require before term sheet stage.

It follows The C&I Energy Playbook: Five decisions business leaders need to make now, a closing panel in which the moderators of key summit sessions distil the programme into the priorities C&I businesses should act on.

Other sessions address the questions buyers are asking now:

  • Energy storage beyond backup power: unlocking commercial value examines peak shaving, demand charge management, energy arbitrage and hybrid PV-plus-storage business models, along with the operational realities of dispatch, degradation and warranties.
  • Making public-private engagement work for you unpacks how wheeling agreements are structured in practice, where interface risks arise, and how businesses can engage utilities and municipalities early.
  • Reducing energy costs without building new generation is a case-study-led workshop on energy efficiency, operational optimisation, demand response and digital energy management.
  • Projects Spotlight gives energy users the floor to share the strategies they have implemented, the lessons learned and the outcomes achieved.

The programme opens with the keynote panel Threats and opportunities in South Africa’s industrial future, bringing together policymakers, industrial leaders, financiers, and energy and water experts.

Bringing energy buyers into the conversation

The summit’s Hosted Buyer Programme is designed for qualified end-user energy buyers across sectors including mining, manufacturing, property, agriculture and other energy-intensive industries. Hosted buyers take part in the full programme and receive curated engagement with solution providers across energy procurement, storage deployment and project development.

Four events, one venue

The summit is co-located with the EIUG Conference, Water Security Africa and the Data Centre Summit, bringing the energy, water and digital infrastructure communities together in Sandton. It is brought to you by Enlit Africa, with ESI Africa as host media, and is accredited by the SAIEE.

Qualified commercial and industrial energy users can apply for the Hosted Buyer Programme at https://apo-opa.co/4yPnXOg, and bring their project questions to the Decision Clinic.

Full programme: https://apo-opa.co/4xK2ANv

 

Distributed by APO Group on behalf of VUKA Group.

 




 

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Beyond the carbon credit: Who sets the terms for Africa’s carbon markets?

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From project ownership and verification to pricing and benefit-sharing, CMAS 2026 will bring African market leaders and global decision-makers together to examine who creates and captures value

KIGALI, Rwanda, September 22, 2026/APO Group/ –A carbon credit may be traded as a single unit, but its value is shaped long before it reaches a buyer. Decisions about project ownership, finance, data, verification and benefit-sharing determine who participates, who carries the risk and who ultimately benefits. As new regulations and international partnerships expand market access, these questions are becoming increasingly important across Africa.

 




 
 

They will be central to the Carbon Markets Africa Summit (CMAS) 2026, taking place from 13 to 15 October at the Kigali Convention Centre in Rwanda. The summit will convene African governments, project developers, investors, buyers and technical experts involved in decisions across the carbon-market value chain.

Countries are approaching these decisions from different regulatory, economic and environmental positions. While recent developments in East Africa demonstrate growing market activity, questions concerning international requirements, technical capacity, investment and benefit-sharing are relevant across Africa.

Ousmane Fall SARR, Coordinator of the West African Alliance on Carbon Markets and Climate Finance, says:

“African countries are developing carbon markets from different starting points. Stronger African expertise and regional cooperation will be important if the continent is to contribute to the standards and market practices that determine how its projects compete, attract investment and create value.”

Against this continental backdrop, East Africa provides a timely example of how the market is developing. In January 2026, Rwanda and Singapore invited applications for carbon-credit projects under their bilateral Implementation Agreement, aligned with Article 6 of the Paris Agreement. Credits from authorised projects may be used by eligible Singapore-based carbon tax-liable companies to offset up to 5% of their taxable emissions, subject to both governments’ requirements.

African countries are developing carbon markets from different starting points

Across the continent, carbon market frameworks are rapidly taking shape. Kenya and Uganda are strengthening regulatory oversight, regional partnerships are helping governments build market capacity and infrastructure, and South Africa is advancing reforms to modernise its carbon-credit ecosystem and attract investment. Together, these developments are bringing greater focus to questions of authorisation, project ownership, verification, pricing and access to international buyers, while also raising expectations that carbon finance should deliver sustainable economic and development value beyond the credit itself.

Emmanuelle Nicholls, Portfolio Director for CMAS, says:

“A carbon credit may be the final product, but behind it are decisions about ownership, data, risk, pricing and who ultimately benefits. The conversations in Kigali will examine what credible participation looks like across the full carbon-market value chain.”

These decisions have consequences beyond individual transactions. Carbon finance is increasingly connected to conservation, agriculture, soil restoration, food security, clean energy and waste management. Its success will therefore also be judged by whether projects produce credible environmental outcomes and lasting benefits for African economies and communities.

A practical example comes from the Chinko Conservation Area in the Central African Republic, where revenue from the Chinko Carbon Project is channelled through a community fund that supports locally selected initiatives, including the expansion of a medical centre in Agoumar. At CMAS 2026, African Parks and Welthungerhilfe, both Bronze Sponsors, will share perspectives on how carbon finance can support conservation, climate resilience, food systems and community development, while highlighting broader questions around project governance, impact and the distribution of value.

From project-level impact to market-wide structures, these questions will underpin discussions at CMAS 2026. The programme will address government authorisation, buyer requirements, pricing and offtake, investment risk, early-stage finance, registries and African measurement, reporting and verification capacity. It will connect the question of who sets the terms with the practical requirements for building credible, investment-ready projects and transactions.

CMAS 2026 is hosted by the Ministry of Environment of Rwanda, with UNDP and the African Development Bank as host organisations, the Development Bank of Southern Africa as host partner and AUDA-NEPAD as strategic institutional partner.

Taking place ahead of COP31, CMAS will focus attention on the decisions behind every carbon credit and what they mean for African governments, projects, investors and communities.

Distributed by APO Group on behalf of VUKA Group.

 




 

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