<h1>Press Release: Renew Capital Announces New Board Member</h1>Investing in early-stage startups in Africa.<a href="https://latest-api.renewcapital.com/uploads/2024_15_05_FINAL_Press_Release_Renew_Capital_Announces_New_Board_Member_4d2da0ec45.pdf" target="_blank" rel="noopener noreferrer">Download the full press release</a>CHARLOTTESVILLE, VIRGINIA, USA, May 15, 2024&nbsp;—&nbsp;Renew Capital, a pan-African early-stage investment firm, is thrilled to announce that Jonathan Baker has joined its board. Jonathan Baker brings a wealth of experience to the board with over 20 years of angel investing, including a decade focused on African markets. His deep understanding of the investment landscape and his significant contributions as one of the firm’s major investors make him an invaluable asset to the Renew Capital team. This strategic addition underscores Renew Capital's commitment to connecting investors with some of the most promising entrepreneurs across Africa.<figure class="image"><img src="/uploads/Untitled_design_3_da479a9d4a.png"></figure>Laura Davis, Managing Partner and co-founder of Renew Capital remarked, "Jonathan’s extensive African travel and his hands-on approach with our team and projects in Africa have been instrumental in shaping our operations. His commitment to transforming investment perceptions about Africa from aid to enterprise is what makes him the perfect fit for our board."Matthew Davis, also Managing Partner and co-founder of Renew Capital, added, "It’s refreshing to witness Western investors like Jonathan who see the potential of Africa’s young, driven population. His perspective aligns with our vision of a self-sustaining, innovative African economy powered by local entrepreneurs and funded by investors seeking a financial return."Jonathan Baker expressed his enthusiasm, "Joining Renew Capital's board is a privilege and an exciting opportunity to contribute to its vision: changing the way the West sees Africa, from giving to investing. Africa is crafting a dynamic economic narrative that the West will admire and learn from for decades. I look forward to being part of this transformative journey."

Investing in early-stage startups in Africa.


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Press Release: Renew Capital Announces New Board Member

Renew Capital has a presence in 14 African countries. We aim to provide insight into Africa's startup scene, along with the opportunities and challenges it presents through a series of blogs from our in-country team. If you share our passion for developing entrepreneurship in Africa, we invite you to check out our&nbsp;<a href="https://www.renewcapital.com/careers">open roles</a>.&nbsp;<h1>How a&nbsp;Passion for Sustainability and Investing in Africa led Lucas Robinson to Renew Capital</h1>Welcome to the 'Journey to Renew Capital' Q&amp;A featuring Lucas Robinson, Renew Capital’s principal of consulting, currently based in Nairobi, Kenya. Lucas has previously lived and invested in Ethiopia and Zimbabwe. With extensive experience in international development and entrepreneurship, Lucas is passionate about sustainability and brings this passion to our projects and investments. In our conversation, we explored his thoughts on the transformative potential of investing in Africa, as well as his vision for the future of African ventures.<figure class="image"><img src="/uploads/1702462420761_37868eaad6.jpeg" alt="Photo of Renew Capital’s Principal Consultant with Kenya's Canadian High Commissioner and founders of Roam Electric, a Renew Capital portfolio company, at their EV manufacturing plant in Nairobi."></figure>From left to right: Mikael Gånge (Roam), Hanif Pabani (Global Affairs Canada), Christopher Thornley (Canadian High Commissioner to Kenya), Lucas Robinson, Esther Mwikali.Thank you for taking the time to sit down and talk with us. We're eager to learn more about you. Please share something about yourself with our readers.Where to begin? I was born and raised outside Ottawa, Canada. My first job was delivering newspapers to my neighbors on Wednesday evenings after school when I was 12. The “Manotick Messenger.” Everything else kind of follows from there.You've navigated through various roles in your career, showcasing a diverse set of skills and experiences. Despite this diversity, is there a common thread that ties your professional journey together?Yes, my friends often make fun of my LinkedIn page. I think sustainability is a strong theme in my work and something that has been coming from different angles for a long time.&nbsp;How does sustainability feature - practically speaking - in the work that you do now, with your team at Renew Capital?It’s a critically important theme for us. We’ve done several trainings on this theme for companies from across the continent. We’ve also recently integrated sustainability metrics into our investment contracts; as far as I know, we’re one of the only venture capital firms in Africa that actively encourages investees to&nbsp;reduce the accrued interest of our investment by helping them to measure and meaningfully reduce their environmental impact. We’ve done the same on gender metrics - which is also awesome!&nbsp;Given your extensive experience spanning over 20 years in investing in and managing businesses and projects in frontier markets, how has this influenced your belief in the transformative potential of investment in Africa?Yeah, I guess you could say I’m a believer. Partly born out of the frustration I felt in the early part of my career in the international development space. I think there are some great people in that industry, and I think that there have been some really important&nbsp;<a href="https://www.bond.org.uk/news/2020/08/farewell-to-dfid-10-key-achievements-from-the-last-23-years/">wins</a> that too often get overlooked by folks, but on balance, it wasn’t right for me. I wanted to have a different kind of impact, and I could see that the private sector was playing a really important role in this regard.&nbsp;So I started building and investing in startups on the continent. Some have done well, leading to hundreds of jobs, a reasonable financial return and lasting positive environmental impact. Others less so. That’s the nature of these things.&nbsp;Looking ahead, what aspirations or goals do you have for your continued involvement in African ventures and how do you envision contributing to their growth and development in the future?Renew Capital has afforded me a wonderful opportunity to meet hundreds of entrepreneurs from across the continent and in some cases to see their companies take off. I’m really happy playing a small part in that, as part of our internal Investment Committee and as one of the many people that’s working to build our entrepreneur training programs. It’s really rewarding work, and I look forward to continuing with that in even more countries as we work to expand our company footprint across the continent.&nbsp;

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How a Passion for Sustainability and Investing in Africa led Lucas Robinson to Renew Capital

<h1>Press Release: Kenyan Startup Farm to Feed Fighting Food Loss</h1>Renew Capital recently made an investment in the B2B platform Farm to Feed, which targets unused produce, enhancing sustainability and farmer livelihoods<a href="https://latest-api.renewcapital.com/uploads/2024_23_04_FINAL_Farm_to_Feed_Press_Release_971448cf62.pdf" target="_blank" rel="noopener noreferrer">Download the full press release</a> NAIROBI, Kenya, April 23, 2024 — With more than a billion tons of food wasted on farms each year globally, Kenya's<a href="https://www.farmtofeedkenya.com/">&nbsp;Farm to Feed</a>&nbsp;is stepping up with a solution. Their simple B2B platform is addressing some of the 40% of uneaten food by finding new uses for surplus and less-than-perfect produce.<figure class="image"><img src="/uploads/PHOTO_2024_04_15_10_30_42_24827e4a5e.jpg" alt="Team photo of Farm to Feed employees proudly displaying fresh vegetables in their Nairobi, Kenya office, showcasing their commitment to sustainability and reducing food waste."></figure>The company’s tech-enabled platform is revolutionizing Kenya's agriculture sector by aggregating supply and demand, optimizing logistics and providing seamless customer interactions.“Our goal at Farm to Feed is to transform the way food is valued and utilized in Kenya,” says Claire van Enk, managing director of Farm to Feed. “We're dedicated to reducing the environmental footprint of agriculture, boosting farmer incomes and making nutritious food more accessible and affordable for all.”The company is making a significant difference in the way food is sourced, distributed, and consumed, setting a new standard for food sustainability in Kenya and beyond.“Farm to Feed embodies the kind of innovative spirit and determination we value at Renew Capital,” said Esther Mwikali senior investment manager at Renew Capital. “We're committed to backing growth-oriented founders who possess a blend of skill, grit and passion. Farm to Feed's work in transforming Kenya's food system aligns perfectly with these values.”

Renew Capital recently made an investment in the B2B platform Farm to Feed, which targets unused produce, enhancing sustainability and farmer livelihoods


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Press Release: Kenyan Startup Farm to Feed Fighting Food Loss

<h1>Press Release: Roscas Building Financial Inclusion Platform in Mozambique</h1>Renew Capital invests in Roscas to expand their work providing financial products to underserved communities <a href="https://latest-api.renewcapital.com/uploads/2024_15_04_FINAL_Roscas_Press_Release_4dd5ecce27.pdf" target="_blank" rel="noopener noreferrer">Download the full press release</a>MAPUTO, Mozambique, April 15, 2024 — Financial inclusion remains a paramount global challenge. However, a Mozambican fintech startup,<a href="https://roscas.co.mz/">&nbsp;Roscas</a>, is addressing the problem by introducing digital solutions that empower individuals and communities across the country. Roscas aims to digitize traditional savings groups by integrating digital tools and financial products tailored to the informal sector's needs. <img src="/uploads/1000200717_788ce36d91.jpg" alt="Roscas team and founder posing in their office in Maputo, Mozambique.">With an estimated 85% of individuals engaged in informal sectors in sub-Saharan Africa, the demand for accessible financial security products like insurance and pensions has reached critical levels. Roscas bridges this gap, empowering individuals historically excluded from formal financial systems to access welfare products, such as insurance, capitalized savings and loans."At Roscas we are fueled by our vision to dismantle barriers not only to financial but also to economic inclusion, by equipping underserved communities with tools to shape their financial destinies," said <a href="https://www.linkedin.com/in/josegudo/">José Samo Gudo</a>, CEO and co-founder at Roscas. "The investment from Renew Capital Angels marks an exciting milestone in our journey, propelling us toward our vision of nurturing economic resilience and empowerment in Mozambique and sub-Saharan Africa."With a robust multichannel strategy embracing platforms such as WhatsApp, USSD, and mobile applications, Roscas aims to ensure its suite of financial products reaches its target audience with unparalleled ease."Renew Capital is happy to announce our first investment in Mozambique. The decision to invest in Roscas underscores the increasing acknowledgment of the role innovative financial technology solutions play in fostering economic growth. We are delighted to support the team in achieving their goal, enhancing their services, and broadening their impact,” says <a href="https://www.linkedin.com/in/lic%C3%ADnio-chissano-375099124/?originalSubdomain=mz">Licinio Chissano</a>, investment and project manager at Renew Capital.&nbsp;

Renew Capital invests in Roscas, a fintech startup in Mozambique to enhance financial inclusion by digitizing savings groups and offering tailored financial products for underserved communities.

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Press Release: Roscas Building Financial Inclusion Platform in Mozambique

<h1>Press Release: Affinity, Ghana's Trailblazing Digital Bank, Continues to Expand</h1>Renew Capital makes first investment in Ghana&nbsp;<a href="https://latest-api.renewcapital.com/uploads/2024_09_04_FINAL_Affinity_Press_Release_ddf8da1454.pdf" target="_blank" rel="noopener noreferrer">Download the full press release</a>ACCRA, Ghana, April 9, 2024&nbsp;—&nbsp;<a href="https://www.linkedin.com/company/affinityghana/">Affinity</a>, a full-scale digital bank, was established with a bold vision to provide banking services to 350 million adults who remain unbanked in Africa. Operating as a digital banking platform, Affinity offers a full suite of banking services, including current, savings and investment accounts, transfers, payments and loans with a targeted focus on financially excluded populations in Africa.<figure class="image"><img src="/uploads/486_A3496_4d2eaa9836.jpeg" alt="Group photo of the Affinity team in Accra, Ghana, featuring over 30 members outside their office, all smiling and waving to promote financial inclusion in Africa."></figure>In Africa, digital banks like Affinity are emerging as transformative forces, disrupting the industry and driving financial inclusion. Affinity stands out by prioritizing customers, offering accounts with no fees and competitive interest rates on deposits and providing access to a range of affordable loan products.“At Affinity, we've developed a fully integrated platform dedicated to promoting financial inclusion by effectively addressing the challenges faced by individuals and MSMEs without access to financial services across sub-Saharan Africa,” stated the group CEO and founder of Affinity Africa, <a href="https://uk.linkedin.com/in/tmouganie">Tarek Mouganie</a>. "Our approach revolves around low-cost deposits, fully online digital channels and becoming the most affordable MSME lender."Affinity's mission is anchored in recognizing the critical importance of financial inclusion, especially for small businesses and individuals in Africa facing barriers due to traditional documentation requirements, leading to rejection by conventional banks. The company's commitment to leveraging technology to bridge these financial gaps underscores its pivotal role in shaping the future of banking in Africa.“Progress is being made across the continent related to financial inclusion, but there are still millions more to reach,” stated <a href="https://www.linkedin.com/in/jcoelofse/?originalSubdomain=et">JC Oelofse</a>, Renew Capital’s head of investment. “Renew Capital is thrilled to invest in Affinity, our first investment in Ghana and looks forward to supporting them as they look to expand across the continent.”*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

Renew Capital makes its first investment in Ghana by investing in Affinity, a digital bank dedicated to enhancing financial inclusion for unbanked populations across Africa.

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Press Release: Affinity, Ghana's Trailblazing Digital Bank, Continues to Expand

<h1>Are You Pitching Investors Right?</h1>Key Insights for Successful Fundraising for African Startups&nbsp;Tune into "<a href="https://soundcloud.com/renewcapital/journeys-in-african-ventures-podcast-ep1-show-me-the-money?si=1571babc0e034c5fbed30d7a42a73225&amp;utm_source=clipboard&amp;utm_medium=text&amp;utm_campaign=social_sharing">Journeys in African Ventures</a>" where we explore the vibrant world of African entrepreneurship. In this episode, host Matthew Davis and guest Rishabh Lawania, CEO of Badili, dive into the challenges and triumphs of attracting global investment to Africa. Discover Rishabh's unique insights and strategies in navigating the funding landscape for African startups. A must-listen for anyone interested in growing and scaling their business in Africa.<div class="raw-html-embed"><iframe width="100%" height="166" scrolling="no" frameborder="no" allow="autoplay" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/1759319829&amp;color=%23ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true"></iframe><div style="font-size: 10px; color: #cccccc;line-break: anywhere;word-break: normal;overflow: hidden;white-space: nowrap;text-overflow: ellipsis; font-family: Interstate,Lucida Grande,Lucida Sans Unicode,Lucida Sans,Garuda,Verdana,Tahoma,sans-serif;font-weight: 100;"><a href="https://soundcloud.com/renewcapital" title="Investing On The Frontier" target="_blank" style="color: #cccccc; text-decoration: none;">Investing On The Frontier</a> · <a href="https://soundcloud.com/renewcapital/journeys-in-african-ventures-podcast-ep1-show-me-the-money" title="Journeys In African Ventures Podcast EP1: &quot;Show Me the Money&quot;" target="_blank" style="color: #cccccc; text-decoration: none;">Journeys In African Ventures Podcast EP1: "Show Me the Money"</a></div></div>&nbsp;Key Highlights:<ul><li>Rishabh's Transformative Journey: From India to Africa, trace the path of a visionary entrepreneur shaping the future of tech startups.</li><li>Behind the Scenes of Fundraising: Explore the unspoken challenges and simple strategies for raising capital in the vibrant yet complex African market.</li><li>Narrative as a Catalyst: Learn how storytelling transcends data, creating a powerful connection with investors and paving the way for success.</li><li>Investor Wisdom Unveiled:&nbsp;Gain exclusive insights from Renew Capital Co-CEO Matt Davis as he reveals what investors really seek in startups and the people behind them.</li></ul>Don't miss out on this journey of entrepreneurial discovery and growth.&nbsp;<a href="https://soundcloud.com/renewcapital/journeys-in-african-ventures-podcast-ep1-show-me-the-money?si=1571babc0e034c5fbed30d7a42a73225&amp;utm_source=clipboard&amp;utm_medium=text&amp;utm_campaign=social_sharing">Click to listen</a> and unlock the secrets to raising capital and growing a company in Africa.&nbsp;&nbsp;

A must-listen for anyone interested in growing and scaling their business in Africa.

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Are You Pitching Investors Right?

Renew Capital's presence has expanded to 14 African countries. We aim to provide insight into Africa's startup scene, along with the opportunities and challenges it presents through a series of blogs from our in-country teams. If you share our passion for developing entrepreneurship in Africa, we invite you to check out our open&nbsp;<a href="https://www.renewcapital.com/careers">roles</a>.&nbsp;<h1> My Journey to Renew Capital: Get to Know Samrawit Geremew</h1>From travel and tourism to nurturing Ethiopia's entrepreneurial ecosystemWelcome to the latest feature in our 'Journey to Renew Capital' blog series. In this interview, we get to know Samrawit Geremew, a Senior Project Manager based in Ethiopia, and learn about her journey to Renew Capital. Samrawit was born and raised in Ethiopia and now supports Renew Capital’s entrepreneurial-building projects in her home country. During the interview, we discuss Samrawit's transition from travel to project management and her passion for entrepreneurship development in Ethiopia. We also explore how she is helping to forge a new path for the country through her work.<figure class="image"><img src="/uploads/image_b686acca31.png" alt="Photo of a Senior Project Manager based in Ethiopia in her graduation gown, posing alongside Renew Capital employees, celebrating her academic achievement."></figure>Could you share with us a bit about your background and how you came to join Renew Capital?I hold a Master's degree in Marketing Management and a Bachelor’s degree in Business Administration and Information Systems. I started my career in travel and tourism, working with Ethiopian Airlines and BCD Travel Ethiopia. While I loved my work in travel and tourism, a persistent urge drove me to pursue a field where my efforts could directly impact my community. In October 2020, I made a deliberate shift to Renew Capital. The organization's vision deeply resonated with my personal goals, as it aims to shift the global perspective on Africa from one of giving to one of investing.Time indeed flies when you're making an impact! Could you share any standout moments or stories from your journey with Renew Capital so far?I've been part of the Renew Capital team for more than three years now. Reflecting on this period, one standout aspect of my journey has been leading and supporting capacity-building projects designed to empower women entrepreneurs and startup founders. These projects support Renew Capital's overarching mission to bolster the private sector and provide robust support for women in business.My fulfillment comes from the tangible outcomes of our efforts in directly impacting the community. Witnessing the growth and success stories of the participants we've supported has been a rewarding experience, reinforcing my belief in the transformative power of the work we do. It's these moments that make the journey at Renew Capital truly meaningful and inspiring.How do you manage the balance between consistency and innovation in your role as a senior project manager at Renew Capital? Can you share some insights into your approach?&nbsp;Navigating the delicate balance between consistency and innovation is indeed an art, especially in the dynamic market of Ethiopia. In my role as senior project manager, our projects require continuous evaluation and innovation. The landscape demands agility and adaptability to address the evolving needs of startup founders, women entrepreneurs, resource providers and interns.The key to our approach lies in tailoring training curricula, delivery methods and coaching sessions to suit these dynamic needs while upholding quality and operational efficiency. It's about staying attuned to the ever-changing environment and being responsive to the unique challenges and opportunities that arise. This flexibility ensures that we not only meet but exceed the expectations of our diverse stakeholders in this dynamic and vibrant ecosystem.How has growing up in Ethiopia shaped your perspective? What are your hopes for the future, especially the aspirations you have for the younger generation in Ethiopia?Growing up in Ethiopia— a country with ancient civilization, diverse cultures, rich history and beautiful landscapes—has played an immense role in shaping who I am today. At the same time, I encountered a unique set of challenges growing up here primarily limited opportunities and a lack of adequate mentorship. This made it difficult for me, and others like me across the country to navigate their paths effectively and reach their full potential. Entrepreneurship also faced societal skepticism, compounded by insufficient formal education, training and vital infrastructure to nurture budding entrepreneurs. Despite these hurdles, recent positive movements and collaborative efforts by public and private stakeholders have ignited hope for many.&nbsp;As someone deeply involved in Ethiopia’s entrepreneurial ecosystem today, my journey reflects not just personal growth but a collective effort to reshape mindsets and foster economic stability through innovative projects. The road ahead holds promise, driven by collaborative endeavors and a shared understanding of the transformative potential inherent in startups and SMEs. My hope is for a future where the entrepreneurial spirit thrives, creating a vibrant landscape for economic growth and prosperity in Ethiopia.&nbsp;

My fulfillment comes from the tangible outcomes of our efforts in directly impacting the community.

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Journey to Renew Capital: Get to Know Samrawit Geremew

<h1>Press Release: Level Africa’s Mission to Ease Access to African Capital Markets Gains Momentum from New Investment</h1>Ugandan company provides an efficient way to invest in Africa’s capital markets<a href="https://latest-api.renewcapital.com/uploads/2024_19_02_FINAL_Level_Africa_Press_Release_471912faec.pdf">Download the full press release&nbsp;</a>KAMPALA, Uganda, February 19, 2024 — The journey to invest in bonds, stocks and other financial instruments available through capital markets across Africa has long been fraught with challenges such as complex paperwork and unreliable brokers. Level Africa is working to change this narrative. As a regulated fintech innovator, Level Africa streamlines the investment process, enabling quick and easy access to bonds, stocks and other financial instruments from a smartphone or laptop in just five minutes.<figure class="image"><img src="/uploads/IMG_9017_8da4600cbf.JPG" alt="The Level Africa team in their Kampala, Uganda office is focused on building digital infrastructure that simplifies access to African capital markets."></figure>"Many see investing in Africa’s capital markets as a domain for the wealthy, encumbered by slow and costly procedures," says Abraham Banaddawa, Co-Founder of Level Africa. "We're changing that. Our platform is not just fast and secure— it's also user-friendly, welcoming retail investors from Africa and across the world." The platform's straightforward approach is reshaping how investments are made in African markets, offering an easy entry point for both experienced investors and newcomers.Renew Capital's recent investment in Level Africa highlights the platform's growing significance in the African investment sector. Renew Capital, known for backing driven and innovative entrepreneurs in Africa, recognizes Level Africa's role in making investment more inclusive."Supporting Level Africa aligns with our goal of empowering impactful companies," Diana Njuguna, Senior Investment Manager for Renew Capital in Uganda, observes. "We envision a shift in how the world engages with Africa, from a perspective of giving to one of investing. Level Africa is supporting the transformation in how people invest in Africa, and that's a mission we stand firmly behind."*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

Renew Capital invests in Level Africa to enhance access to African capital markets.

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Press Release: Level Africa’s Mission to Ease Access to African Capital Markets Gains Momentum from New Investment

<h1>Press Release: Roam Secures $24M in Series A Funding to Accelerate Innovation and Electric Vehicle Production in Kenya</h1>Expanding local manufacturing to propel Africa toward sustainable transportation<a href="https://latest-api.renewcapital.com/uploads/2024_16_02_FINAL_Roam_Press_Release_4ff76b266d.pdf" target="_blank" rel="noopener noreferrer">Download the full press release&nbsp;</a>NAIROBI, Kenya,&nbsp;February 16, 2024— <a href="https://www.roam-electric.com/" target="_blank" rel="noopener noreferrer">Roam</a>, a Kenya-based electric mobility leader in electric vehicle (EV) innovation in Africa, is set to expand its operations in Kenya significantly following a $24M Series A funding round.&nbsp;<figure class="image"><img src="/uploads/09_Roam_Rapid_522b216ee1.jpg" alt="A beautiful photo of the Roam electric vehicle bus showcased in Nairobi, Kenya, highlighting sustainable transportation innovation."></figure>This funding round was led by Equator Africa and includes investments from Renew Capital, At One Ventures, TES Ventures, The World We Want, and One Small Planet, among other prominent private and institutional investors. Included in the $24M is a commitment from the U.S. International Development Finance Corporation (DFC) to provide Roam with an up to $10M debt facility.Roam will use the investment to enhance the local manufacturing capabilities at their 10,000 sqm facility (East Africa’s largest electric motorcycle assembly plant), invest in production tooling for cost reductions and streamline both local and global supply chain networks.&nbsp;Since its inception in 2017, Roam has been committed to creating a greener, more sustainable future for Africa. The investment will support Roam's long-term goal of transitioning Africa's public transport sector to effective, affordable electric buses and motorcycles.&nbsp;“Renew Capital is committed to backing innovative leaders like Roam, who bring a unique combination of skills, determination, and passion to their work,” says Esther Mwikali, Renew Capital Investment and Project Manager. “Roam's dedication to transforming Africa's transportation system resonates deeply with our investment philosophy. We're honored to be part of their journey in redefining African transport, making it more efficient, sustainable and eco-friendly.”"DFC is proud to support initiatives like Roam that align with our commitment to fostering innovation and sustainability,” said James Polan, Vice President of the Office of Development Credit at DFC. “This significant transaction will support the expansion of Roam's electric mobility offerings and resonates with our goals for a cleaner future."Nijhad Jamal, Partner at Equator, stated, "At Equator, we are committed to building a future with efficient, accessible, and sustainable mobility. Roam's innovative electric mobility platform is at the forefront of this transformation, and we are proud to provide catalytic funding that will enable Roam to build a cleaner, more equitable future for African cities."Rajal Upadhyaya, CFO of Roam, expressed gratitude for the investor support, saying, "As Africa embraces the move toward electric vehicle technology, we are proud of our impact on the environment and livelihoods across Kenya and the wider continent. This funding is a critical step for Roam to achieve our strategic objectives in scaling up and increasing utility to our customers."Roam's commitment to innovation and sustainability was recently highlighted during a visit by Kenya's President, His Excellency William Ruto, to the Roam Park facility. The president's visit underscores the national and international significance of Roam's work in advancing green technology and manufacturing in the region.

Roam secures $24M in Series A funding to enhance electric vehicle production in Kenya. 