In an environment susceptible to external shocks, Trader Direct offers a way for informal retailers to grow their businesses with minimal risk. Even a small increase in monthly sales can have a huge impact on the lives of informal retailers and their families. Nomanini serves a high proportion of first-time digital finance users. 82% of these retailers are accessing a service like Trader Direct for the very first time and cannot easily find a good alternative. This indicates that Nomanini is providing a service that agents would struggle to find elsewhere as well as filling a pertinent gap in the […]
Johannesburg, August 10, 2022: Verdant Capital has raised USD 10 million of debt funding for Zeepay. The medium-term debt raise, which forms part of its A.5 series, comes to support Zeepay in a bid to augment its fast-growing remittance to wallet business. The debt funding is intended to support the rapid growth of the business. In 2021, the company processed USD 1.8 billion of transactions volumes, cross-border and domestically. It is the vision of the Founder and Managing Director, of Zeepay, Andrew Takyi-Appiah I, to reach the milestone of USD 200 billion of annual transaction volumes in the long-term. […]
The investment will help provide thousands of motorbike taxi (boda boda) drivers in Uganda with greater economic empowerment and asset ownership opportunities. Verdant Capital is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) has made its first investment, in Watu Credit Uganda Limited (“Watu”). The investment of USD 7 million will help Watu expand its footprint of two-wheeler financing throughout the country. This represents an important milestone for Watu in Uganda, it’s second largest market after Kenya, where the business was first established in 2015. In addition, Watu is expected to benefit from initiatives supported by the Fund’s […]
During 2021 only eight Vintage I funds in Africa reached first close in the year. Looking at Vintage I funds is an interesting reference point for the direction of change in the market overall. It is consistent with a theme we have seen in the market over the last few years – the growth in the number of specialist fund managers – while certain of the traditional large cap generalist pan-African players have battled raising capital for their new vintages, or in one or two cases have left the market altogether. We have seen demand from limited partners, for […]
In an environment susceptible to external shocks, Trader Direct offers a way for informal retailers to grow their businesses with minimal risk. Even a small increase in monthly sales can have a huge impact on the lives of informal retailers and their families. Nomanini serves a high proportion of first-time digital finance users. 82% of these retailers are accessing a service like Trader Direct for the very first time and cannot easily find a good alternative. This indicates that Nomanini is providing a service that agents would struggle to find elsewhere as well as filling a pertinent gap in the […]
