<h1>Press Release: Appload Simplifies Cargo Shipping with Its Online Marketplace</h1>Renew Capital invests in Appload, a solution that is connecting shippers and carriers to streamline logistics across Southern Africa<a href="https://latest-api.renewcapital.com/uploads/FINAL_Appload_Press_Release_009abaa15d.pdf">Download Full Press Release</a>MAPUTO, Mozambique, December 17, 2024&nbsp;– Businesses in Southern Africa are now finding it easier to move goods thanks to Appload, a digital marketplace that connects shippers and carriers. Using Appload, shippers can plan, book and monitor cargo shipments. Licensed carriers are also able to find reliable customers.&nbsp;<figure class="image"><img src="/uploads/Appload_Team_Photo_2c988e0f34.png" alt="Renew Capital, an early-stage venture capital firm in Africa, invests in Appload—photo of the Appload team in Maputo, Mozambique."></figure>The platform reduces the need for middlemen and offers secure booking, payments and third-party cargo insurance. <a href="https://www.linkedin.com/company/apploadafrica/">Appload</a> also tracks each trip, ensuring safe and timely deliveries. Users benefit from a customer review system that allows them to rate both the service providers and clients. To merge business quality and environmental sustainability, Appload allows shippers and transporters to be conscious of their carbon footprints and make responsible choices.&nbsp;“Appload is making shipping of cargo simple and more reliable,” said&nbsp;<a href="https://www.linkedin.com/in/claire-hassoun-45b003a2">Claire Hassoun</a>, founder and CEO of Appload. “Our platform allows businesses and transporters to connect directly. This reduces costs and makes the shipping process seamless. Renew Capital’s support will help us to scale our impact across Mozambique and beyond.”Appload caters to various industries, including agriculture, manufacturing and retail, helping businesses of all sizes move their goods more effectively. The platform's transparent system ensures that both shippers and carriers have access to trustworthy service providers.&nbsp;“Appload is driving a much-needed change in the region's logistics market,” said Licinio Chissano, investment and project manager at Renew Capital. “Appload is helping businesses save time and money by making the process of finding cargo transporters more efficient and transparent.”Renew Capital continues to invest in growth-oriented entrepreneurs who offer scalable solutions to key challenges across Africa.&nbsp;Support to Renew Capital portfolio companies is provided in partnership with Global Affairs Canada and Norad.&nbsp;<h3>Portuguese Version</h3>&nbsp;<h1>Communiqué de Presse: Appload simplica transporte de cargas através da sua plataforma online</h1>Conectando expedidores aos transportadores para optimizar a actividade logística na Africa AustralMaputo, Moçambique, (DATE) – O Transporte de mercadorias ficou agora facilitado para as empresas na África Austral, graças a Appload, uma plataforma digital que liga expedidores e transportadores. Através da Appload, os expedidores podem planejar, reservar e rastreiam a circulação de mercadorias. As operadoras licenciadas também podem conseguir encontrar clientes confiáveis.A plataforma reduz a necessidade de intermediários e oferece reservas, pagamentos e seguro de carga através de terceiros. O Appload também rastreia as viagens, o que garante entregas seguras e oportunas. Os usuários se beneficiam de um sistema de avaliação de clientes, que lhes permite avaliar tanto os prestadores de serviços quanto os clientes. Para combinar a qualidade do serviço e sustentabilidade ambiental, o Appload permite que expedidores e transportadores estejam conscientes das emissões de carbono nas suas viagens, através do “carbon footprint” para que possam fazer escolhas responsáveis.“A Appload está a tornar o transporte de carga mais simples e confiável”, disse Claire Hassoun, fundadora e CEO da Appload. “A nossa plataforma permite que empresas e transportadores se conectem diretamente. Isso reduz custos e optimiza o processo de envio. O investimento da Renew Capital irá ajudar-nos a expandir o nosso impacto em Moçambique e além-fronteiras”A Appload atende a uma ampla variedade de setores, incluindo agricultura, manufatura e retalho, onde ajuda empresas de todos os tamanhos a movimentarem seus produtos de maneira mais eficaz. O sistema transparente da plataforma garante que tanto os expedidores como os transportadores tenham acesso a prestadores de serviços confiáveis“A Appload está impulsior uma mudança crucial no mercado logístico da região”, disse Licínio Chissano, Gestor de investimentos e projetos da Renew Capital. “A Appload ajuda as empresas a economizarem tempo e dinheiro, tornando o processo de localização de transportadores de carga mais eficiente e transparente”A Renew Capital continua a investir em empreendedores orientados para o crescimento, que oferecem soluções escaláveis e ​​para resolver os principais desafios do continente africano.&nbsp;A Renew Capital apoio empresas no seu portfólio em parceria com o Global Affairs Canada.Isenção de responsabilidade: este comunicado de imprensa foi traduzido do inglês. Agradecemos a sua compreensão por eventuais erros ou imperfeições na tradução.

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Appload is a digital freight marketplace that connects clients needing to ship cargo with relevant transporters. Clients can book from a vast and ever-growing network of carefully vetted transporters, pay securely, monitor trips and rate their shipments.


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Renew Capital, an early-stage venture capital firm in Africa invests in Appload.

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Press Release: Appload Simplifies Cargo Shipping with Its Online Marketplace

<h1>Why I Say No to Holiday Party Pitches: The VC Model Explained</h1>I’m no&nbsp;<a href="https://www.youtube.com/watch?v=0uMfatiUdqo">Buddy the Elf</a>, but I enjoy a good Christmas party. The decorations, the holiday sweaters and the spiked egg nog. It’s all great in my book.So, given my general enthusiasm for holiday cheer, I hope this won’t come off as a Mr. Grinch moment.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeBWkRNl6qQGDOG327OVkWMJvm15mW6P07DS5iDEjhmZeky_y99TX7pVAQGif2bSuAucWwufiDranUW7MwWrbOO95PULQe0LukE_NlKQi9ADpkJkwd4sBv-YwfLUZMq0qbKZg2A5xZ1FD-DXqAYTNs?key=rz7TkrBy_rsMUWlGE5ZSRaMu">Photo:&nbsp;<a href="https://unsplash.com/photos/a-red-cup-of-coffee-sitting-on-top-of-a-wooden-shelf-u1JqmWkKfSQ">Eggnog by Katie Azi_Unsplash</a>Ever since I joined&nbsp;<a href="http://www.renewcapital.com">Renew Capital</a>, an early-stage venture capital firm in Africa a couple of years ago, a few drinks into almost every holiday gathering, someone—without fail—will come up to me and ask, “Do you want to invest in my business?”So I listen to them describe how they really need outside investment to help their business grow. The passion in these ad-hoc pitch moments is invariably impressive and though I usually think it’s a wonderful business, my reply is almost always, “No, sorry — I won’t invest in your business.”These entrepreneurs sometimes look a little heartbroken, but as long as the eggnog wasn’t really spiked, I try to explain, usually saying something along the lines of the following:I work for a venture capital (VC) firm. VC is built on the idea that investors make an outsized amount of their returns from a very small number of their investments.&nbsp; Hence, every deal we make needs to have the potential to be a huge success. Love it or hate it, this is the "<a href="https://medium.com/leadership-prevails/understanding-the-vc-power-law-why-fund-size-matters-in-venture-capital-returns-b3dcc2681509">VC model</a>."<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe70qG8vXaypVuvKoqLiwML2WwcLIKBy_JS8DeodXleG7vcJiHO5hPKzZW9Yd3AyeT98J5xq_SNWKeF_ACybIsTskOqkpCx4bRASy8sghajR1AINI7R8pDZTiV73P0_loM9yPQzbSS0U5EObpd2s9w?key=rz7TkrBy_rsMUWlGE5ZSRaMu">Photo:&nbsp;<a href="https://www.linkedin.com/in/lucas381/">Lucas Robinson</a>For the VC model to work, we need companies that are either creating or working in a huge market, with the&nbsp;<a href="https://www.investopedia.com/terms/v/venturecapitalist.asp">potential to capture a sizable share of it.</a> In practice, that means that we seek companies with the potential to expand beyond their current countries of operation (i.e. not entirely focused on dominating one country). What does that really mean? Bluntly, we’re looking for companies targeting total addressable market sizes of more than a billion dollars in Africa.We also look for companies that are trying to solve seemingly intractable problems, often through the clever use of technology, removing the considerable friction that exists in most markets. This means we, like most VC firms, have a preference for fintech, e-commerce, SaaS, trade/logi-tech and mobile-first solutions.&nbsp;Can all of Africa’s problems be solved through these technologies? Of course not, but these technologies enable companies to scale quickly and at the risk of sounding like a catchy&nbsp;<a href="https://youtu.be/aAkMkVFwAoo?si=grG_5S4CnaaAbVK4">Mariah Carey Christmas song</a>, that’s what we are looking for.Is this model right for every company? Definitely not. The economic backbone of every single economy on the planet&nbsp;are the hundreds of thousands of small- and medium-sized businesses (SMEs) that are slowly and steadily increasing their revenue every year. These are fantastic companies. I want there to be hundreds and thousands more of them. I’ve even helped to build a few here on the continent and I’m really proud of them. But they are not (or were not, in some cases) VC-backable companies.Many solid SMEs and even some multinational companies grow without taking any kind of outside capital initially—they find ways to grow a business without (Mailchimp, Basecamp and Zoho are three such examples).Despite the frothy VC market in my adopted hometown of Nairobi, there are actually many other investment options to consider: impact investors, debt, local angel investors, revenue-based financing, working capital facilities, private equity (or micro-private equity) and even grants. Each of these is probably a better financing option for most of the business owners that I speak to.Does that mean I will try to avoid conversations about your new business plans when I see you at the holiday party? Of course not—I love those conversations. It's just that as a VC firm, we may not be&nbsp;<a href="https://www.weareuncapped.com/eu/blog/small-business-finance">the right capital for you</a>.If you're a growth-oriented founder leading an early-stage startup in Africa, apply to our&nbsp;<a href="https://venturelab.renewcapital.com/">Renew Venture Lab</a> to gain training and support. We look forward to learning more about your startup.Lucas Robinson has invested in, founded and run numerous businesses in Africa. He is a Principal at Renew Capital. One of the company’s training topics is focused on this very subject;&nbsp;<a href="https://share.hsforms.com/1vl4AMMceRsW3JTrqjT-LAAee4rj">sign up here</a>.

We seek companies with the potential to expand beyond their current countries of operation (i.e. not entirely focused on dominating one country). 

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Why I Say No to Holiday Party Pitches: The VC Model Explained

<h1>Press Release: Enakl - Building Transport Solution for Africa’s Growing Cities</h1>Renew Capital invests in Enakl to expand affordable and sustainable transport solutions across Africa.&nbsp;<a href="https://latest-api.renewcapital.com/uploads/2024_12_10_FINAL_Enakl_Press_Release_a512c06dc2.pdf">Download Full Press Release</a>CASABLANCA, Morocco,&nbsp;December 10, 2024&nbsp;– <a href="https://www.linkedin.com/company/enakl/posts/?feedView=all">Enakl</a>, an innovative urban mobility startup, addresses a critical need in Africa’s urban centers where public transportation remains overcrowded, unreliable and expensive. The platform connects commuters with local transport providers through a pre-booked, subscription-based model. By optimizing fleet operations and reducing costs, Enakl ensures accessible transportation options for businesses and individuals alike.<figure class="image"><img src="/uploads/Enakl_Founders_Morocco_b8ac5c9e20.jpg" alt="Photo of Enakl's founders, an early-stage startup based in Morocco, now part of Renew Capital's portfolio."></figure>“Our mission is to make quality and affordable transport accessible to everyone,” said&nbsp;<a href="https://www.linkedin.com/in/charles-pommarede/">Charles Pommarede</a>, co-founder and CEO of Enakl. “This investment from Renew Capital will help us scale our model, improve our technology and expand into new markets. We are excited to continue solving mobility challenges while empowering local drivers and operators.”Enakl’s traction underscores its potential for long-term impact. In just under a year, the company has achieved a 20% monthly growth rate in bookings and revenue, with more than 15,000 bookings per month and contracts with leading corporations such as Carrefour and Sitel. The platform has also tripled its operated routes, meeting the rising demand for cost-effective, sustainable transit solutions.“I am proud of the Enakl team,” said Nihal GRII, investment manager at Renew Capital. “The solution they offer is appropriate for Morocco and many African cities where quality and affordable transportation is still a challenge. Their innovative approach, paired with their commitment to sustainability and accessibility, positions the company to be a leader in the mobility sector.”&nbsp;With the investment from Renew Capital, Enakl plans to accelerate its expansion plans, which include growing its fleet, optimizing its AI-powered routing system and diversifying its driver base by onboarding more women. By focusing on urban centers across Africa, the company aims to create a more sustainable and inclusive future for urban mobility.About Enakl Enakl is a Morocco-based urban mobility startup that provides affordable and reliable transportation solutions for emerging markets. Enakl delivers scalable, sustainable transit options through technology and partnerships with local operators that improve urban mobility and empower communities.

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Enakl connects commuters with local transport providers through a subscription-based app, offering affordable, reliable and sustainable urban mobility solutions across Africa.


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Renew Capital, an early stage venture capital firm in Africa invests in Enakl.

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Press Release: Enakl - Building Transport Solution for Africa’s Growing Cities

<h1>Press Release: Konnect Makes Digital Payments in North Africa a Breeze</h1>Renew Capital has made its inaugural investment in Tunisia by investing in Konnect, a secure and scalable payment gateway that promotes financial inclusion and innovation.<a href="https://latest-api.renewcapital.com/uploads/2024_12_3_FINAL_Konnect_Press_Release_524e47f565.pdf" target="_blank" rel="noopener noreferrer">Download Full Press Release</a>TUNIS, Tunisia, December 3, 2024&nbsp;— <a href="https://www.linkedin.com/company/konnect-networks/">Konnect</a> is a payment gateway pioneering digital payment solutions in North Africa, authorized by the Central Bank of Tunisia. Their platform offers seamless payment links, e-commerce plugins and a robust API designed to cater to businesses of all sizes. Konnect's services are tailored to enhance the online payment experience, ensuring quick, secure and efficient transactions that support business growth and simplify e-commerce interactions. With a commitment to improving financial accessibility, Konnect serves as a crucial partner for digital commerce in the region.<figure class="image"><img src="/uploads/Image_20241129_104602_564_d4a5b90765.jpeg" alt="Konnect team photo, marking Renew Capital's first investment in Tunisia, an early-stage venture capital firm in Africa focused on supporting tech startups and innovation."></figure>Konnect’s platform makes it easier for users to manage their finances digitally. By offering services tailored for the unbanked, Konnect is addressing key barriers to financial access while helping businesses optimize their payment systems. Through key partnerships, including a strategic collaboration with VISA, Konnect is driving the region’s shift toward digital payments, making secure and efficient financial services accessible to more people.“We’ve built Konnect to make digital payments more accessible, secure and user-friendly,” said <a href="https://www.linkedin.com/in/aminbenab/">Amin Ben Abderrahman</a>, founder of Konnect. “Our platform supports both individuals and businesses, allowing them to manage their payments with ease. We’re excited to continue expanding across North Africa and providing innovative financial services that cater to the needs of underserved communities.”Konnect’s platform also includes advanced fraud detection and remote onboarding. By leveraging the latest technologies, the company is playing a crucial role in modernizing the financial infrastructure in North Africa.“Konnect is setting a new standard for digital payments in the region,” said <a href="https://www.linkedin.com/in/karim-ben-fadhel-41169580/">Karim Ben Fadhel</a>, investment ecosystem development manager at Renew Capital. “Their platform not only simplifies financial transactions but also opens doors for greater financial inclusion. We’re proud to support Amin and his team as they lead the way in expanding access to secure and scalable payment solutions.”Renew Capital remains committed to investing in entrepreneurs who offer innovative and scalable solutions that drive financial inclusion and economic growth across Africa.

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Konnect is a leading payment gateway in North Africa, offering secure and seamless payment links, e-commerce plugins and a robust API that’s designed to cater to businesses of all sizes.


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Renew Capital has made its inaugural investment in Tunisia by investing in Konnect, a secure and scalable payment gateway that promotes financial inclusion and innovation.

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Press Release: Konnect Makes Digital Payments in North Africa a Breeze

<h1>#StopGivingTuesday</h1>&nbsp;It’s Time to Invest in Africa’s Future<h2>Stop Giving to Africa</h2>It’s #GivingTuesday, and across the U.S., wallets are opening, charities are receiving and people are feeling good about giving. Some of you may be considering giving to Africa. But here’s some hard truth: charity isn’t helping Africa. Worse, it’s holding the continent back. With the world’s youngest and fastest-growing workforce—but the fewest jobs to match—Africa needs more than charity. It needs investment.I know—this sounds harsh. And yes, I’m biased. My wife&nbsp;<a href="https://www.linkedin.com/in/laura-davis-25764430/">Laura Davis</a> and I run an investment firm in Africa. Over the past decade, we’ve personally invested in about 50 startups across the continent. We do this because we’ve seen firsthand how investment—not charity—transforms economies, creates jobs and builds wealth.Let me offer two excellent reasons why you should consider moving from giving to investing in Africa:&nbsp;<ul><li>The “Oh No!” reason, and</li><li>The “Oh Wow!” reason</li></ul><h3>The “Oh No!” Reason: We’re Losing Africa</h3>The U.S. and the West are losing influence in Africa to China and Russia. China-Africa trade hit $282B last year, dwarfing the U.S.’ $45B. While Beijing is building railways, roads and ports, we’re sending planeloads of Americans on service trips, wearing matching T-shirts, ready to “help” Africa. Many Africans I speak with see charity efforts as outdated and patronizing—a relic of the 1980s.Meanwhile, China and Russia are treating Africa like the economic and geopolitical powerhouse it’s becoming. Ethiopia and Egypt recently joined BRICS+, signaling Africa’s shifting alliances and growing strategic importance. By 2050, 25% of the world’s population will live in Africa and the continent will hold 28% of the UN Security Council votes. Yet African leaders feel the U.S. doesn’t take them seriously—and frankly, they’re right.We’re falling behind because we’re stuck in an outdated view of Africa. Why are we still exporting handouts when we could invest in the entrepreneurs shaping Africa’s future? Capitalism works—it’s what we do best.&nbsp;<figure class="image"><img src="/uploads/Images_Website_Ratio_18_66c12a4288.png"></figure>Source:&nbsp;<a href="https://news.gallup.com/poll/644222/loses-soft-power-edge-africa.aspx?mkt_tok=ODEzLVhZVS00MjIAAAGS7gl9qAoPQNoaWqmpe2yrbLIC7aETi7NdaMFPLoxSgHL5s-XaG_Y8xnyQf-zWThDGGdEUGwwnc7WUsZ2Mnn3KoyULp4jY5fmg2j6sarpChZ4">Gallup</a><h3>The “Oh Wow” Reason: Africa is Booming</h3>Now for the exciting part. Africa is booming. Nine of the world’s 20 fastest-growing economies are in Africa. The continent is urbanizing faster than anywhere else and will soon house 13 of the world’s largest cities. Yet population growth continues to outpace private sector expansion. The opportunity is enormous—but only if you come looking for it.More than 60% of Africans are under the age of 25 and Africa’s youth are entrepreneurial, ambitious and ready to lead. A recent study found that 71% of African youth plan to start their own businesses within five years. Thanks to advancements in internet access, AI and mobile technology, launching a startup in Africa has never been easier—or more affordable.<figure class="image"><img src="/uploads/Images_Website_Ratio_22_9313e2173f.png"></figure>Source:&nbsp;<a href="https://www.renewcapital.com/">Renew Capital</a>Here are some examples:&nbsp;<a href="https://www.linkedin.com/company/mpostafrica/">MPost</a>, one of the startups we backed, is digitizing post office boxes in Africa. In some extreme cases, thousands of Africans have to share one P.O. box. MPost is making it possible to turn your mobile phone into a P.O. Box, enabling industries like e-commerce to flourish across Africa. Imagine the millions of jobs, economic value and wealth creation that could happen as this company scales. For a more traditional example, look at METAD, a specialty coffee company in Ethiopia. The founder had a vision of transforming Ethiopia’s coffee industry to make it specialty-grade before specialty coffee was all the rage. Today, METAD doesn’t just export world-class coffee to your favorite roasters and cafes—it employs thousands of workers, supports more than 10,000 smallholder farmers and provides health services and education to employees’ families, among other things. We don’t need to ask founders to go above and beyond making a profit; it’s just smart business in Africa. &nbsp;When young Africans see local founders securing investments, they think, “If they can do it, so can I.” That spark of hope spreads, fueling a ripple effect of ambition, innovation and a cycle of prosperity.<h3>Why All Eyes Should Be on African Startups</h3>Africa is the youngest continent on Earth, with a median age of 19. Each year, 8 to 10 million young Africans enter the workforce, but only 3 million formal jobs are created annually. This gap is a crisis—but it’s also the opportunity of a generation.Startups are the solution. They create jobs, drive innovation and build economies. Yet Africa receives less than 1% of global venture capital—a ridiculous figure for a continent that will soon be home to one out of every four humans on the planet.Imagine the possibilities if we focused our collective efforts on startups. In 2022, aid to Africa totaled $53B. Redirecting even a fraction of that to support startups could spark an economic renaissance. This shift is already happening in small pockets. Forward-thinking development organizations are working on blended finance projects, partnering with investors to lower the costs and risks for them to invest in Africa. But we need more charity checks to become investment checks.<figure class="image"><img src="/uploads/Images_Website_Ratio_21_794518c508.png" alt="An African map showing how aid funding exceeds startup capital, blended finance, and investment, highlighting the importance of investing in Africa instead of just giving."></figure>Source:&nbsp;<a href="https://www.renewcapital.com/">Renew Capital</a>If we focus, Western nations could accomplish a new vision: to invest in 10,000 startups every year within three years—a scale about 10 times Africa’s peak in 2022. At $100K per investment, this would require roughly $1B annually in pre-seed and seed-stage capital, or about 10% of what we currently give as charity to Africa each year. Combined with another $500M annually for technical assistance and ecosystem-building support from blended finance projects to prepare startups and provide post-investment support, this effort could create approximately 3.3 million jobs annually—closing the jobs gap by about 40%—at a cost to taxpayers of around $150 per job created. These are my own rough estimates, but imagine if we all focused on a bold target like this? Also, private capital doesn’t just generate employment; it catalyzes ecosystems, drives innovation and renews Africa’s image on the global stage. What a legacy.<h3>In Closing</h3>Obviously, I know we can’t stop all giving cold turkey—there’s too much entrenched infrastructure to dismantle overnight. But the time has come to move from giving to investing in Africa.And rest assured, there’s wealth in Africa. No matter how well-intentioned your charity or impactful your project is, there’s likely someone local who could be funding it and doing it better than you.&nbsp;I vote we replace #GivingTuesday (for Africa) with #StartupAfrica.I’d love to hear your thoughts. My objective is not to offend but to challenge us to think differently. Here are some questions that I’d love your thoughts on:&nbsp;<ul><li>Do you think giving is working?</li><li>Do you think investing will do more than giving?</li><li>What do you think is stopping the West from shifting its focus from giving to investing in Africa?</li><li>What else should we do to encourage Africa’s growth?</li></ul>Wondering How to Get Started?<ul><li>Think Differently: Poverty isn’t solved by giving; prosperity is created by investing. Read&nbsp;<a href="https://www.amazon.com/Prosperity-Paradox-Innovation-Nations-Poverty/dp/0062851829">The Prosperity Paradox</a> by Clayton Christensen.</li><li>Take an Investment Trip to Africa: Be part of a movement to create jobs and drive innovation. Join an investment tour to Africa. Meet entrepreneurs and see opportunities. We’ve got a group coming to&nbsp;<a href="https://www.gitexafrica.com/">GITEX Africa</a> in April.</li><li>Start Small and Diversify:&nbsp;You don’t need millions to begin, but no matter the dollar value, it’s best to diversify across countries. U.S.-based donors can use donor-advised funds to start. Join angel networks or explore Africa-focused VC firms.</li><li>Get Africa Smart:&nbsp;Subscribe to curated content on African startups. Check out&nbsp;<a href="https://theafricabrief.beehiiv.com/">The Africa Brief&nbsp;</a>(ours) or&nbsp;<a href="https://www.thisweekinfintech.com/tag/africa/">This Week in Fintech, Africa</a> (one of my favorites).</li><li>Be You:&nbsp;Be generous locally. If you want to help Africa, use your expertise to guide businesses and share your skills with African entrepreneurs.</li></ul>Disclaimer:This summary is intended for informational purposes only, is subject to change, and does not constitute investment advice or a recommendation to you. This summary is not intended as an offer to sell or a solicitation of an offer to buy an interest in any company (a “Company”) managed by Renew Capital or its affiliates. Such an offer to sell or solicitation to buy an interest in a Company may be made only by the delivery of subscription agreements relating to such Company and specifically delivered by Renew Capital to the recipient thereof. Investment in a Company is open solely to “accredited investors” (as defined by the SEC under the Securities Act of 1933, as amended) and, in addition, is intended only for sophisticated investors who meet the investor suitability requirements described in the subscription agreements and who can bear the risk of investment losses, including the potential loss of their entire investment.Investments with Renew Capital are speculative in nature and involve a high degree of risk. Renew Capital invests in companies located and doing business in sub-Saharan Africa. Investors should understand and be willing and able to handle the risks of investing in such frontier markets, which are more significant than the risks associated with investing in securities of U.S. companies or in other developed countries and include the risk of total loss of an investor’s entire investment. Investors should consult with their independent financial, legal and tax advisors to determine whether any particular investment or investment strategy is appropriate for them. Renew Capital does not make any recommendation regarding the appropriateness of any specific investment opportunity for any specific investor.

The time has come to move from giving to investing in Africa.

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#StopGivingTuesday

<h1>Press Release: STIMA Pioneers EV Battery Management Solution&nbsp;</h1>Renew Capital invests in STIMA to expand their smart platform for electric vehicle charging infrastructure, monitoring and battery fleet management.<a href="https://drive.google.com/file/d/1RfgwCN80aYVpfGuU0hrOdeTkKf4y1oxd/view?usp=drive_link" target="_blank" rel="noopener noreferrer">Download Full Press Release</a>NAIROBI, Kenya, November 28, 2024&nbsp;—&nbsp;STIMA is transforming the electric vehicle (EV) industry with a smart, all-in-one platform that takes the hassle out of managing battery fleets. The platform allows users to easily and efficiently manage batteries regardless of the technologies they use.&nbsp;<figure class="image"><img src="/uploads/Stima_Boda_Photo_1_2989b59f23.jpg" alt="Renew Capital, an early stage venture capital firm in Africa invests in Stima Boda; a photo of the Stima Boda team"></figure>By analyzing real-time data from e-mobility assets, STIMA provides users with direct actionable insights related to conducting and optimizing their operations, improving battery performance and lifespan, implementing fleet predictive maintenance and managing warranty claims with the supply chain. It further makes the link with battery financiers to create a trusted track record and inform on portfolio risks and investments' expected returns.“Our goal is to empower e-mobility businesses by providing battery intelligence that enhances battery fleet efficiency and maximizes returns for businesses,” said Jason Gras, co-founder of STIMA. “Our platform’s data-driven approach simplifies the complexities of battery management and delivers real-time insights and optimizations that make operations smoother, safer and more scalable. This ultimately de-risks battery financing, supporting large project financiers in joining the sector”.STIMA has partnered with leading companies in the EV space in Africa, such as Bboxx, Greenwheels, Roam and MAX to help scale and optimize battery-swapping infrastructure.“As we see more electric two-wheelers on the road and as infrastructure deployments expand, the need for a robust and efficient battery management is becoming critical and the market is adapting to this as well,” said Esther Mwikali, senior investment manager at Renew Capital. “STIMA’s platform addresses this by helping businesses manage their battery fleets, cut costs and improve performance. We’re proud to support this team as they meet this growing demand in the EV industry.”Support to Renew Capital portfolio companies is provided in partnership with Global Affairs Canada.

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STIMA is transforming the electric vehicle (EV) industry with a smart, all-in-one platform that takes the hassle out of managing battery fleets. The platform allows users to easily and efficiently manage batteries regardless of the technologies they use.

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Renew Capital invests in STIMA to expand their smart platform for electric vehicle charging infrastructure, monitoring and battery fleet management.

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Press Release: STIMA Pioneers EV Battery Management Solution 

<h1>Smart Philanthropy: Use Your DAF to Shape Africa’s Future</h1>Using a Donor-Advised Fund (DAF) for impact investing in Africa is a smart way to gain tax benefits while making a positive difference. This guide explains how to use your DAF effectively, the benefits of investing in African ventures and the steps to start this impactful journey.<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdYtY1Zcl0tvoTkHoaWNzCcYIMLQrLqaydOeUM4zCXxlFNQ5mss00Y5dOxOHirfM4rEYllxZgk32jjWsHaGvYXT7V1H1dYqdtKGN9O0TC2KXJrJatrOeX5iNJpVUrZmaoCD6afpZQ?key=iJTOOe2QxD9-YSlET2v78_Z2" alt="Graphic of Renew Capital's model for impact investing in Africa through a Donor-Advised Fund (DAF), illustrating how investors can fund impactful ventures across the continent.">Source:&nbsp;<a href="https://www.renewcapital.com/">Renew Capital</a>Understanding Donor-Advised Funds (DAFs)A&nbsp;<a href="https://www.fidelitycharitable.org/guidance/philanthropy/what-is-a-donor-advised-fund.html">Donor-Advised Fund</a> is a charitable investment account for philanthropic giving. You can donate cash or assets to this account, get a tax deduction right away and then decide over time which charitable organizations will receive the funds. This approach offers flexibility and potential tax benefits for charitable contributions.&nbsp;<h2>The Rise of Impact Investing</h2><a href="https://www.ifc.org/en/our-impact/impact-investing-at-ifc">Impact investing</a> refers to investments made with the intention to generate positive, measurable social and environmental impact alongside a financial return. This approach has gained traction as investors recognize the potential to address global challenges through strategic capital allocation. By aligning investments with personal values, donors can support initiatives that drive social change while achieving financial objectives.&nbsp;<h2>Why Africa?</h2>Africa presents a&nbsp;<a href="https://blogs.cfainstitute.org/investor/2022/10/14/eight-reasons-why-africa-is-primed-for-impact-investing/">unique opportunity</a> for impact investing due to its rapid economic growth, youthful population and abundant natural resources.<ul><li>Economic Growth and Potential:&nbsp;Sub-Saharan&nbsp;<a href="https://www.worldbank.org/en/region/afr/overview">Africa's economy</a> is projected to grow by 3% in 2024, up from 2.4% in 2023, with expectations to accelerate to 4% in 2025 to 2026.&nbsp;This growth is driven by increased private consumption and investment.</li><li>Youthful Demographics:&nbsp;Africa has the&nbsp;<a href="https://au.int/en/youth-development#:~:text=Africa%20has%20the%20youngest%20population,development%20index%20of%20African%20nations.">youngest population</a> in the world with more than 400 million young people aged 15 to 35. Harnessing this potential through education and skill development is crucial for sustainable growth.</li><li>Technological Advancements:&nbsp;The continent is experiencing a digital transformation, with mobile technology and internet penetration opening new avenues for entrepreneurship and access to global markets. Initiatives like the African Continental Free Trade Area (AfCFTA) aim to create the&nbsp;<a href="https://www.ft.com/content/2b867f0f-522e-47e4-b619-aa3b728a7cfd">world's largest free trade area</a>, involving 54 African nations and 1.47 billion people, by reducing tariffs and fostering intra-African trade.</li><li>Natural Resources:&nbsp;Africa's&nbsp;<a href="https://www.unep.org/regions/africa/our-work-africa#:~:text=The%20largest%20reserves%20of%20cobalt,internal%20renewable%20fresh%20water%20source.">abundant natural resources</a>, including minerals, oil and arable land, offer significant opportunities for investment and development. The largest reserves of cobalt, diamonds, platinum and uranium in the world are in Africa. Sustainable management of these resources can lead to long-term prosperity.</li></ul><h2>Benefits of Using Your DAF for Impact Investing in Africa</h2><ul><li>Tax Advantages: Contributions to a&nbsp;<a href="https://money.usnews.com/investing/investing-101/articles/what-are-donor-advised-funds">DAF are tax-deductible</a> and any investment growth within the fund is tax-free. This structure allows for more capital to be allocated toward impactful investments.&nbsp;</li><li>Flexibility: DAFs provide the flexibility to recommend grants to various charitable organizations and invest in initiatives that align with your philanthropic goals.&nbsp;</li><li>Amplified Impact: By&nbsp;<a href="https://www.renewcapital.com/newsroom/investing-in-africa-with-a-daf">investing in African startups</a>, you support economic development, job creation and innovation in regions that can benefit significantly from such investments.&nbsp;</li></ul><h2>Steps to Start Impact Investing in Africa with Your DAF</h2><ul><li>Research and Identify Opportunities: Begin by researching sectors in Africa that align with your interests, such as renewable energy, healthcare or education.&nbsp;</li><li>Set Up a DAF:&nbsp;Choose a financial institution or donor-advised fund sponsor to establish your DAF. Organizations like&nbsp;<a href="https://www.uicharitable.org/">UI Charitable Advisors</a>,&nbsp;<a href="https://impactassets.org/">Impact Assets</a> and&nbsp;<a href="https://www.impactfoundation.org/">Impact Foundation</a> can help guide you through the setup process, offering strategic advice to align your DAF with your philanthropic goals.</li><li>Assess Market Risks: Understand the unique market risks associated with African investments, including political instability, currency fluctuations and regulatory challenges. Renew Capital keeps track of the momentum of&nbsp;<a href="https://www.renewcapital.com/newsroom/the-momentum-of-african-startup-ecosystems-in-a-snapshot">African startup ecosystems</a>.&nbsp;</li><li>Partner with Experienced Organizations: Collaborate with organizations experienced in African markets to navigate the complexities of investing in the region. For instance, Renew Capital focuses on investing in growth-oriented companies in Africa.</li><li>Monitor and Measure Impact: Establish clear metrics to assess the social and financial impact of your investments. Regular monitoring ensures that your investments are meeting your philanthropic objectives.&nbsp;</li></ul><h3>Conclusion</h3>Leveraging your Donor-Advised Fund for impact investing in Africa allows you to align your philanthropic goals with investment strategies that drive meaningful change. By supporting early-stage African startups and ventures addressing critical challenges, you can make a difference while enjoying financial benefits. Start exploring opportunities today and put your DAF to work in Africa to make your money make a difference.For a detailed guide on how to invest in Africa with your Donor-Advised Fund, check out<a href="https://docsend.com/view/4ab7rf7hs33a6wvm">&nbsp;this comprehensive resource</a>.

Learn how to use your DAF to support early-stage startups in Africa and drive impactful change.

Learn how to use your DAF to support early-stage startups in Africa and drive impactful change. (1).png

Smart Philanthropy: Use Your DAF to Shape Africa’s Future

<h1>Why We Invested in Sawa Energy: Creating Accessible Clean Energy for East Africa</h1><figure class="image"><img src="/uploads/SAWA_ENERGY_TEAM_52_6d614f76bd.JPG" alt="Founders of Sawa Energy providing solar solutions for businesses in Rwanda and Uganda."></figure>Africa holds enormous potential for clean energy, especially solar, yet struggles with<a href="https://www.brookings.edu/articles/addressing-africas-dual-challenges-climate-change-and-electricity-access/"> electricity access</a>. The continent receives minimal&nbsp;<a href="https://climatepromise.undp.org/news-and-stories/west-africa-has-great-potential-solar-energy-its-time-release-it#:~:text=It%20seems%20the%20problem%20is%20widespread%20across%20the%20continent.%20In%202021%2C%20only%200.6%20percent%20of%20the%20%24434%20billion%20dollars%20invested%20globally%20in%20renewable%20energy%20production%20went%20to%20African%20countries%2C%20the%20lowest%20investment%20since%202011.">renewable energy investment</a>—only 0.6% of the $434B global investment in 2021, the lowest since 2011. This lack of funding impacts business productivity across Africa, which faces ongoing energy reliability issues.<a href="https://www.sawaenergy.com/ourstory">Sawa Energy</a>, based in Uganda and Rwanda, builds and finances solar systems tailored for commercial businesses. Their model enables small and medium-sized enterprises to access solar without upfront costs, saving 10% to 30% on electricity bills and gaining reliable energy access.Renew Capital invested in Sawa Energy to support its vision of a sustainable energy future in Africa.<h2>Strong Founders</h2>Sawa Energy, launched in 2021, has founders with more than a decade of renewable energy experience.&nbsp;<a href="https://www.linkedin.com/in/samuel-kaufman-cpa-a6387835/">Samuel Kaufman</a>, the Chief Executive Officer (CEO), along with co-founders&nbsp;<a href="https://www.linkedin.com/in/jordan-zipkin/">Jordan Zipkin</a>, Chief Investment Officer(CIO) and&nbsp;<a href="https://ca.linkedin.com/in/guillaumecharpenel">Guillaume Charpenel</a>, board member and former Managing Partner, lead the company’s mission of empowering local partners, reducing emissions and delivering investor returns.<h2>Demonstrated Traction</h2>As one of the largest solar suppliers in Rwanda, Sawa Energy has developed&nbsp;<a href="https://www.duurzaaminvesteren.nl/projecten/sei-24-solar-u-ltd">32 projects&nbsp;</a>totaling 2.6 MWp and 1 MWh across Rwanda and Uganda. Their clients include data centers, banks, schools and nonprofits.&nbsp;<h2>Orientation Toward Growth</h2>Sawa Energy aims to become East Africa’s largest private solar provider by 2030, addressing energy needs with reliable and affordable clean energy solutions.“Sawa Energy's approach to financing solar is a game-changer in the region. By facilitating the transition to clean and renewable energy sources, Sawa Energy is addressing immediate electricity needs while paving the way for a greener and more resilient energy landscape across the continent.” — Laura Davis, Managing Partner and Co-CEO of Renew Capital.

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Why We Invested in Sawa Energy: Creating Accessible Clean Energy for East Africa

<h1>Renew Capital Legal Brief - October 2024</h1>The latest changes in Africa's regulatory environment<figure class="image"><img src="/uploads/Newsletters_and_Legal_Brief_3e57dfff40.png" alt="Photo of Renew Capital's October 2024 Legal Brief document."></figure>Renew Capital monitors Africa’s evolving legal landscape, sharing key insights with investors, entrepreneurs and policymakers in Africa’s dynamic business environment. Explore our curated&nbsp;<a href="https://www.renewcapital.com/newsroom/the-momentum-of-african-startup-ecosystems-in-a-snapshot">snapshots</a> for a closer look at African startup ecosystems.Ethiopia:<ul><li>The National Bank of Ethiopia (NBE) Reviews FX Trading Fees - NBE now requires banks to clearly separate foreign exchange (FX) trading spreads and disclose FX fees to clients, effective October 15, enhancing transparency in Ethiopia’s FX market.</li></ul>Ghana:<ul><li>The Ghana Investment Promotion Centre (Amendment) Bill (GIPC Bill) Goes Public -&nbsp;The GIPC Bill, under public review until October 31, aims to reduce barriers for foreign investors by potentially removing share capital requirements for foreign-owned businesses and reserved activities for locals.</li></ul>Kenya:<ul><li>Court Strikes Down Derivatives Tax, New Horticulture Bill Introduced -&nbsp;The High Court deemed the 2023 Income Tax regulations on derivatives unconstitutional, promoting the adoption of these financial products. Additionally, a new Horticulture Crops Authority Bill proposes stricter regulations and penalties for the horticulture sector.</li></ul>Nigeria:<ul><li>The Central Bank of Nigeria (CBN) Establishes FX Market Principles - CBN released a draft Foreign Exchange Code, modeled on the FX Global Code to ensure transparency and fairness in the FX market, encouraging foreign investment.</li></ul>Rwanda:<ul><li>Contracts for the International Sale of Goods (CISG) Accession Effective October 1, 2024 -&nbsp;Rwanda’s accession to the UN Convention on Contracts for the International Sale of Goods (CISG) took effect on October 1, 2024, impacting international sales contracts.</li></ul>South Africa:<ul><li>New Dividend Tax for Kuwaiti, Dutch and Swedish Shareholders -&nbsp;New tax protocols require Kuwaiti, Swedish and Dutch shareholders to pay a 5% to 10% dividend tax, potentially affecting foreign investments.</li></ul>Tanzania:<ul><li>The Bank of Tanzania (BoT) Launches Domestic Gold Purchase Program - BoT now buys gold domestically, offering competitive prices and incentives, including zero-rated VAT and reduced fees. This strategy aims to bolster the nation's gold reserves while strengthening the local currency, the Tanzanian shilling.</li></ul>Uganda:<ul><li>Parliament Dissolves NITA-U -&nbsp;Uganda’s Parliament passed a bill to dissolve the National Information Technology Authority Uganda (NITA-U), integrating it into the&nbsp;Ministry of Information, Communication Technology (ICT), aligning with the government’s rationalization policy.</li></ul>Pan-African:<ul><li>Regional Competition Authority Becomes Operational -&nbsp;ECOWAS Regional Competition Authority (ERCA) became operational on October 3, 2024, overseeing cross-border transactions within ECOWAS that meet merger notification thresholds.</li></ul>Visit our blog for insights on&nbsp;<a href="https://www.renewcapital.com/newsroom/the-momentum-of-african-startup-ecosystems-in-a-snapshot">Africa’s startup ecosystems</a>, or contact us at renew@renewcapital.com Stay tuned for more updates!Disclaimer: The information included in this blog does not constitute legal advice. Consumers should consult their legal advisors.