<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. 

Kenya

09_Roam_Rapid.jpg

Press Release: Roam Secures $24M in Series A Funding to Accelerate Innovation and Electric Vehicle Production in Kenya

<h1>Press Release: Renew Capital Achieves Investment Milestone, Launches Next Pan-African Tech Fund</h1>Investing in asset-light, tech-enabled businesses across Africa<a href="https://latest-api.renewcapital.com/uploads/2024_02_13_FINAL_RVL_Fund_1_Press_Release_2dedaae469.pdf" target="_blank" rel="noopener noreferrer">Download the full press release</a>DENVER, USA and NAIROBI, Kenya, February 13, 2024&nbsp;—&nbsp;Amidst a surge of new funds in Africa’s thriving tech sector,&nbsp;<a href="https://www.renewcapital.com/">Renew Capital</a> has emerged as a distinctive player. With a dual purpose of generating returns for investors and founders, and rebranding Africa’s global image from a place of giving to a place of investing, Renew Capital is making significant strides. Founded by Matt and Laura Davis, who transitioned from their lives in Washington, D.C. to Africa's investment landscape in 2012, Renew Capital is a seasoned player in the continent's venture capital industry.<figure class="image"><img src="/uploads/PORTRAIT_758539e469.png" alt="A photo of the Renew Capital staff, African portfolio founders and Global Affairs Canada representatives celebrate the launch of the Next Pan-African Tech Fund at the Canadian Embassy in Nairobi, Kenya."></figure>“In 2012, we were among the first investment firms in Ethiopia. Much of our early work involved educating the market about what an investment firm does,” says Matt Davis, co-CEO of Renew Capital. Now operating in 14 countries, Renew Capital aims to be one of Africa's leading investment firms by 2025.“We began investing into individual deals through the Renew Capital Angels Network, now comprising more than 200 families mainly from the U.S. and Canada,” adds Laura Davis, co-CEO. “We are grateful to have members of the Renew Capital Angels visiting Kenya this week on an EconTourism trip. This visit underscores our commitment to directly engaging with and understanding the ecosystems where we invest, fostering deeper connections between our investors and the African entrepreneurial ecosystem.”In 2023, the firm launched the Renew Venture Lab Fund series, focusing on early-stage tech and tech-enabled companies. With a "founder first" approach, Renew Capital prioritizes the character and vision of founders. “We believe in founders with integrity, intelligence, grit and vision who can lead their countries forward,” explains Matt.Renew Venture Lab Fund 1 was designed to support startups at the forefront of innovation with scalable and sustainable business models, focusing on asset-light companies for a resilient and adaptable portfolio. Some of the companies that Renew Capital has invested in with Renew Venture Lab Fund 1 include Opareta, a Ugandan startup enhancing the efficiency of mobile money operations with a comprehensive digital platform; Mpost, which is transforming postal services with its technology; Octavia Carbon, leading in carbon capture and sustainability efforts; Scale, making strides in logistics; Sawa Energy, making renewable energy solutions more accessible in East Africa; Bosso, addressing the critical need for affordable housing in Zambia through its online marketplace for building materials and financing solutions; Tappi, a Kenyan innovation enabling SMEs to rapidly establish their online presence and access digital advertising and Level Africa, a regulated fintech innovator streamlining the investment process.Following the closing and deployment of capital from Renew Venture Lab Fund 1, Renew Capital is now launching Renew Venture Lab Fund 2 (RVL2). This fund is designed to invest in up to 50 tech startups across Africa, offering training and support to founders and their teams. The most successful companies in RVL2 will be eligible for larger investments from Renew Capital Fund 1, the firm’s growth-stage investment fund.“At Renew Capital, we aim to back exceptional founders who will shape Africa’s economic future,” Matt concludes.

Renew Capital launches the Next Pan-African Tech Fund, investing in asset-light, tech-enabled startups across Africa to drive innovation and economic growth.

PORTRAIT.png

Press Release: Renew Capital Achieves Investment Milestone, Launches Next Pan-African Tech Fund

<h1>Press Release: Renew Capital Angels Invest in Tappi to Expand Digital Marketing Solution for African SMEs&nbsp;</h1>African company offers innovative solutions to craft digital identities and drive growth!<a href="https://latest-api.renewcapital.com/uploads/2024_05_02_FINAL_Tappi_Press_Release_0ddbbbc0d7.pdf" target="_blank" rel="noopener noreferrer">Download the full press release</a>NAIROBI, Kenya, February 5, 2024&nbsp;—&nbsp;Imagine creating your online identity in under two minutes and immediately accessing your target market through streamlined access to Google Ads, Facebook Ads, Instagram Ads and more. Using payments like mobile money, <a href="https://tappi.app/" target="_blank" rel="noopener noreferrer">Tappi</a>, a Pan-African startup, allows African SMEs to do just that and continues to enhance its digital offerings following a recent investment by Renew Capital Angels. The company's innovative end-to-end SaaS and enterprise-grade tools are designed to revolutionize how small and medium businesses establish their online presence, offering streamlined tools for website creation, customer engagement and effective online advertising.&nbsp;<figure class="image"><img src="/uploads/Tappi_team_b0596166dc.jpg" alt="A photo of the Tappi team of over 10 members poses for a photo, showcasing their excitement in branded uniforms."></figure>"Tappi is a catalyst for SMEs entering the digital world and with the investment, we are set to amplify this transformation across Africa’s diverse markets. We are enthusiastic about leveraging this investment to deepen our connections with SMEs on the continent” says the co-founder of Tappi Kenfield Griffith while talking about the platform's impact. Tappi's intuitive chat tool, embedded by AI, facilitates seamless webpage setup, ensuring businesses are visible online. The company’s solution also enhances customer communication via WhatsApp which reduces operational costs and facilitates direct transactions and feedback collection.Building on their success with Ajua, where they developed customer experience tools for major banks and operators, Tappi's founders Kenfield Griffith and Louis Majanja are now channeling their expertise into bespoke digital solutions for SMEs. Tappi goes beyond marketing and presence, capturing verified customer reviews to bolster business trust, credibility and insights.“Tappi’s operations in high-growth markets with increasing demand for digital marketing solutions and online presence solutions for small and growing businesses in Africa is remarkable. Their passion, grit and impact are among some of the things we look for at Renew Capital,” says Renew Capital's Investment Manager for Kenya, Esther Mwikali. “The founders' deep industry knowledge, extensive networks and a strong understanding of the African market, having successfully built and scaled businesses in the region before, is what we believe drives real change. We are delighted to partner with Tappi to transform how SMEs engage customers and manage their online footprint.”*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

Renew Capital Angels invests in Tappi to enhance digital marketing solutions for African SMEs. Discover how Tappi's innovative platform empowers businesses to create online identities and drive growth across the continent.

Tappi-team.jpg

Press Release: Renew Capital Angels Invest in Tappi to Expand Digital Marketing Solution for African SMEs 

<h1>Press Release: Bosso Africa Secures Funding to Digitize Africa's Construction Supply Chain</h1>Zambian company is enhancing affordability and efficiency in the procurement of building supplies<a href="https://latest-api.renewcapital.com/uploads/2024_02_02_FINAL_Bosso_Africa_Press_Release_16b40f27d6.pdf" target="_blank" rel="noopener noreferrer">Download the full press release&nbsp;</a>LUSAKA, Zambia, February 2, 2024 - The lack of affordable housing for millions of people in Africa is a pressing issue, but <a href="https://www.linkedin.com/company/bosso/">Bosso Africa</a> is seeking to change that. The Zambia-based company provides an all-in-one user-friendly online marketplace that streamlines the sourcing of building materials for hardware stores, construction companies and individual builders.&nbsp;<figure class="image"><img src="/uploads/IMG_0256_2e03f35cce.jpg" alt="Grouo photo of Bosso team with founder in Lusaka, Zambia, digitizing construction supply chains to improve affordability and efficiency in Africa's building sector."></figure>By partnering with financial institutions, Bosso is working to further access to finance, providing customers with opportunities for various financing options, including stock advances using the “buy now pay later” (BNPL) credit approach, mortgages and the "save now, build later" (SNBL) approach."The challenges and potential within Africa's construction industry are immense and this presents a significant opportunity,” said Bosso’s CEO <a href="https://www.linkedin.com/in/chisepo-chirwa-b1062b2b/?originalSubdomain=zm">Chisepo Chirwa</a>. “Bosso’s mission is to make affordable building materials universally accessible through our e-commerce platform, providing a faster, more cost-effective and efficient solution."Through strategic collaborations with manufacturers, Bosso Africa offers a diverse product range and improves transparency and efficiency for users in the construction supply chain which ultimately reduces transaction costs.&nbsp;“Most African governments are currently pushing for affordable housing for their citizens. Affordable housing however starts with the provision of affordable housing materials,” says Renew Capital’s investment and project manager for Zambia, <a href="https://www.linkedin.com/in/calvin-chitangala-42b77512b/">Calvin Chitangala</a>. “Bosso's innovative platform improves the sourcing of building materials in Africa and we are delighted to support them in their journey.” *Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

Bosso Africa secures funding from Renew Capital to digitize construction supply chains, enhancing affordability and efficiency in Africa's building sector.

Zambia

IMG_0256.jpg

Press Release: Bosso Africa Secures Funding to Digitize Africa's Construction Supply Chain

<h1>Press Release: Sawa Energy Attracts Investment to Accelerate Growth Across East Africa&nbsp;</h1>Providing East African businesses with affordable energy efficiency solutions<a href="https://latest-api.renewcapital.com//uploads/2024_01_25_FINAL_Sawa_Energy_Press_Release_d6bd511f40.pdf" target="_blank" rel="noopener noreferrer">Download the full press release&nbsp;</a>KIGALI, Rwanda, January 25, 2024 – Confronting the critical challenge of energy in East Africa, <a href="https://www.sawaenergy.com/" target="_blank" rel="noopener noreferrer">Sawa Energy</a> is changing how small and medium businesses access power. With operations in Rwanda and Uganda, Sawa Energy eliminates upfront costs, making solar and energy-efficient solutions more accessible and affordable.<figure class="image"><img src="/uploads/SAWA_ENERGY_TEAM_52_53593994e9.JPG" alt="Sawa Energy team posing against a backdrop of beautiful green vegetation in Kigali, Rwanda, showcasing their commitment to sustainable energy."></figure>Established in 2021, Sawa Energy's mission extends beyond energy provision. It focuses on constructing, owning and operating solar systems for clients, enabling significant savings and reducing electricity pricing volatility. The company aims to become the largest private provider of solar power in East Africa by 2030, demonstrating its commitment to building a greener and more sustainable future.&nbsp;“Our passion at Sawa Energy is to create a business that delivers on three critical fronts — building partnerships with East African companies, reducing emissions, and providing robust returns to our investors,” said <a href="https://ug.linkedin.com/in/samuel-kaufman-cpa-a6387835" target="_blank" rel="noopener noreferrer">Samuel Kaufman</a>, Chief Executive Officer and co-founder of Sawa Energy as he emphasized the company's broader impact goals. “We strongly believe in creating a sustainable model that benefits all stakeholders.”Sawa Energy sets itself apart by removing the financial and operational risks to going solar. They offer local business integrated energy solutions with no upfront cost, and no operation and maintenance fees, ensuring that their customers have a seamless and worry-free transition to cleaner and more affordable energy.&nbsp;“Sawa Energy's approach to affordable and sustainable energy solutions is transformative for East African SMEs,” said Blessing Layee-Maima Caine, Renew Capital’s Investment Manager for Rwanda. “Renew Capital as one of the investors in the consortium is proud to support Sawa Energy's vision of a future where businesses can grow sustainably and cost-effectively.”&nbsp;*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

Sawa Energy secures investment from Renew Capital to expand affordable solar energy solutions for East African businesses, reducing costs and emissions.

Rwanda

Uganda

SAWA ENERGY TEAM-52.JPG

Press Release: Sawa Energy Attracts Investment to Accelerate Growth Across East Africa

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 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>My Journey to Renew Capital: Get to Know Raisa Chowdhury&nbsp;</h1>International footprints and lessons in balanceWelcome to the latest feature in our 'Journey to Renew Capital' blog series. In this interview, we spoke with Raisa Chowdhury, Senior Project Consultant and M&amp;E Lead, about her personal journey to Renew Capital. We explored her diverse international career in the development sector&nbsp;across countries such as the United States, Bangladesh, Myanmar, Cambodia, Mozambique, Ethiopia, and now Rwanda and uncovered the underlying passion that fuels her work in this domain.<figure class="image"><img src="/uploads/d3b9fb61_863b_41c5_97e6_fb8115bc4d64_16c7ac7770.JPG" alt="Image of the Senior Project Consultant and M&amp;E Lead posing with Renew Capital employees, highlighting teamwork and collaboration within the organization."></figure>Raisa, center-left, leading with passion and purpose.Welcome Raisa, thank you for taking the time to sit down with us. You are originally from the U.S. and are now based in Kigali, Rwanda, where you are currently working on Renew Capital’s&nbsp;<a href="https://www.renewcapital.com/newsroom/five-facts-about-accelerating-regional-business-growth">Accelerating Regional Business Growth (ARBG) project</a> among others. Could you please share a bit about your background and how you landed in East Africa?Before joining Renew Capital, I focused on other areas of global development—mostly going back and forth between digital development and peace/rights/civil society/democracy-focused work. In both areas, there was also a lot of talk about the economy—both building on the economic foundations in place within a given context, as well as enabling economic growth. While I found the other work morally and intellectually interesting, I wanted to learn more about this recurring theme of how to “build an economy.”&nbsp;Coming out of graduate school in 2022 I knew that I wanted to do work that produced a tangible impact. I was looking for something that felt different from the U.S.-based development consulting work I was doing at the time. Though I didn’t set out to work in Africa, I was curious when I found Renew Capital through a job alert. As I learned more about the firm, I felt aligned with Renew Capital’s values and the work felt exactly like what I was looking for. I had been to East Africa and Southern Africa for shorter stints already and knew about the great energy in many of the ARBG countries. This made me excited to learn from and contribute in a small way to the buzzing ecosystems in these places.&nbsp;You mention that your career has spanned several development sectors. Can you elaborate on what drives and inspires you to pursue this path?It’s amazing to witness and experience the dynamic energy in emerging markets across different sectors from business, government, arts… you name it. In the development sector particularly, you get to meet all these incredible people who are working tirelessly to make their countries better, and in just a few years positive changes are visible. That inspires me to play a small enabling role in those changes.I’ve also tried to take advantage of my time in the region to be as curious and connected not only because it’s fun but also to better understand the histories and cultures of the countries we work in and be better at my job as a result. One of Renew Capital’s guiding statements is that we seek to change the way the world engages Africa and I joke to my friends that I’m doing that one Instagram story at a time. In all seriousness, though, living here and being fully present gives me a chance to fall in love with the places we work in, gain valuable insights and come to the office with a level of personal investment in the outcome that I hope makes a difference to the quality of my work.In your work on various projects in the East Africa region, what are some unique opportunities that you've come across and what excites you about your work?I’m new to the investment and business support space so it’s been fun to learn more about how things work here. Though there’s been a learning curve, I love getting to be a part of a team that’s working hard to move the needle on business success in the region by testing out different approaches to best support companies in their growth journey.&nbsp;For example, in the first year and a half of the ARBG program, we’ve developed trade training, connected companies to valuable market intel and retail expertise, gotten products moving across borders and expanded the reach of the Renew Capital’s offerings for SMEs by beginning to build an online training platform.&nbsp;I'm also enjoying the opportunity to develop internal systems for our ARBG program, taking on increased responsibility for shaping and managing its progress. This also means more accountability — if something goes wrong, it's on me, which is both scary and gratifying.What excites me the most is that if we get things right we will have helped catalyze business growth and hopefully helped expand the pool of people that benefit from the economic shifts in the region. The boom is coming and I hope that firms like Renew Capital can help bring that reality a little faster and shape that future to be a little more equitable and just.Can you share with us a defining moment in your career? What lesson did you learn from this experience?When I was taking pre-med courses (classes necessary to apply for medical school: biology, chemistry, physics, math, psychology, humanities) in university, I did abominably poorly in Organic Chemistry 1 and 2. I was devastated, as I had always been the kind of gung-ho student who had never gotten less than an A academically, except once in a middle school art class.&nbsp;I’m so grateful now for that failure because it helped me walk away from a path I wasn’t truly passionate about or particularly well suited for, and instead pursue a career that has been more amazing than what I could have imagined for myself at that point. That experience was super formative and forced me to learn to pause and reflect on whether things are progressing in alignment with the bigger picture, and being okay to change course even when it’s hard. To this day, I try to apply that lesson not just to my career, but also more broadly in my life.Also on the theme of reflection and pausing, a slightly different lesson I’ve gotten throughout my life comes down to balance. In one previous role, I had an older colleague who would go around at the end of the work day and tell everyone to go home because “we’re not saving lives.” What she meant was that whatever we were working overtime on could likely wait until the morning to be completed without major consequences. This particular colleague was one of the members of a tight-knit team of sharp Bangladeshi women I had the privilege of getting to join for a short period at USAID Bangladesh. I try to remind myself of this lesson when things get overwhelmingly busy.&nbsp;

I wanted to learn more about this recurring theme of how to “build an economy.” 

Perspectives

Screenshot 2024-01-18 at 1.37.03 in the afternoon.png

My Journey to Renew Capital: Get to Know Raisa Chowdhury 

<h1>Press Release: Opareta Secures Investment to Roll Out Comprehensive Mobile Money Operator Solution&nbsp;</h1>Improving agent networks with cutting-edge tools and empowering financial solutions<a href="https://latest-api.renewcapital.com/uploads/2024_09_01_FINAL_Opareta_Press_Release_bba5edb312.pdf" target="_blank" rel="noopener noreferrer">Download the full press release</a>KAMPALA, Uganda, January 9, 2024— Mobile money transactions play a crucial role in Africa's financial landscape.&nbsp;According to GSMA, in 2022 four million active agents supported over $831B in mobile money transaction value across sub-Saharan Africa.&nbsp;Ugandan startup Opareta fills technological gaps for mobile money operators with a comprehensive digital operating system that allows efficient oversight of agent networks including tools for cash reconciliation, float approvals and disbursements and effective loan management. The platform also provides performance analytics, field team management, KYC capture, and CRM services for enhanced efficiency and customer engagement.<figure class="image"><img src="/uploads/Whats_App_Image_2024_01_09_at_08_30_28_bfd4d9955b.jpeg" alt="The Opareta founder and team visiting one of their mobile money operator shop in Kampala, Uganda."></figure>“The reliance on outdated tools such as physical ledgers and USSD codes for transactions has long been a bottleneck in the sector,” states <a href="https://www.linkedin.com/in/michael-schwartz-0369b275/" target="_blank" rel="noopener noreferrer">Mike Schwartz</a>, co-founder of Opareta. “We address this challenge head-on with our digital operating system, designed to improve liquidity management, performance analytics and digital identity creation for agents. This shift promises not only improved operational efficiency but also a leap toward financial inclusivity.”By creating robust digital infrastructure and tools, Opareta aims to significantly enhance the operational efficiency of mobile money operators and other digital financial services providers.&nbsp;&nbsp;“Opareta's approach aligns with the needs of an evolving financial landscape where mobile money operators seek to drive efficiency and agents seek more than just transactional tools,” states Diana Njuguna, senior investment manager at Renew Capital. “They need systems that offer transparency, autonomy, provide insightful data and seek to support the evolution of mobile money agents into multifaceted service platform operators. This investment aims to alter the landscape of financial transactions and services across the region.&nbsp;&nbsp;*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

Opareta secures investment from Renew Capital to roll out digital tools for mobile money operators, improving efficiency and financial inclusivity in sub-Saharan Africa.

WhatsApp Image 2024-01-09 at 08.30.28.jpeg

Press Release: Opareta Secures Investment to Roll Out Comprehensive Mobile Money Operator Solution

<h1>Press Release: Octavia Carbon Raises Capital to Advance Carbon Capture Technology</h1>Innovative Solutions to Combat Climate Change through Carbon Capture<a href="https://latest-api.renewcapital.com//uploads/2024_02_01_FINAL_Octavia_Press_Release_7bc5259226.pdf" target="_blank" rel="noopener noreferrer">Download the full press release</a> NAIROBI, Kenya, January 2, 2024&nbsp;—Octavia Carbon, based in Kenya, has secured investment to advance its Direct Air Capture (DAC) technology, focusing on CO2 extraction from the atmosphere. The company aims to combat climate change by designing, building and deploying machines that directly capture atmospheric CO2 using DAC technology.&nbsp;<img src="/uploads/Octavia_6b74c082d5.jpg" alt="A photo of the Octavia Carbon team demonstrating their direct air carbon capture technology in the Nairobi, Kenya lab and factory.">"Carbon capture technologies have a crucial role to play in addressing climate change," stated Martin Freimüller, founder and CEO of Octavia Carbon. "Our DAC technology will help reduce carbon emissions in the global pursuit for a net-zero future."Octavia Carbon provides carbon credits for purchase, enabling companies and individuals to offset their carbon footprint affordably while forging a path to offering climate justice to communities in Kenya. The company is leveraging Kenya’s natural geothermal, geology and talent for cost-effective operations."Octavia Carbon's innovative technology and recognition of the growing demand for durable and verifiable carbon credits in the carbon market continues to position Africa as an active contributor to global climate solutions," said Esther Mwikali, Investment Manager at Renew Capital. "We're excited to support Octavia in their&nbsp; efforts." The investment received by Octavia Carbon emphasizes the importance of innovative climate solutions and Africa's role in contributing to a more sustainable future. &nbsp;*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

Octavia Carbon raises capital from Renew Capital to advance carbon capture technology in Kenya, reducing CO2 emissions and supporting climate solutions.

Group photo.JPG

Press Release: Octavia Carbon Raises Capital to Advance Carbon Capture Technology

<h1 style="margin-left:0px;">Press Release: Mobile Postal Service MPost Attracts Investment to Expand into the Region&nbsp;</h1>Facilitating Universal Access to Postal Addresses<a href="https://latest-api.renewcapital.com/uploads/2023_28_12_FINAL_M_Post_Press_Release_eb01466ba5.pdf" target="_blank" rel="noopener noreferrer">Download the Full Press Release&nbsp;</a>KIGALI, Rwanda, December 28, 2023 — MPost is improving postal services in Africa by converting mobile phone numbers into functional postal addresses, significantly easing local and international goods delivery, government document applications and access to financial services. Established in 2016, MPost now operates in Kenya and Rwanda.<figure class="image"><img src="/uploads/Mpost_img_1118933f41.jpeg" alt="MPost team, in branded uniforms, posing with their founder at the Nairobi, Kenya office."></figure>"MPost's mission aligns with a critical need of the African population," said <a href="https://ke.linkedin.com/in/twahirmohamed" target="_blank" rel="noopener noreferrer">Twahir Mohamed</a>, Founder and CEO of MPost. "Many people in sub-Saharan Africa lack a postal address. By harnessing the ubiquity of mobile phones, we aim to empower millions by providing them with a fundamental tool for enhanced connectivity and access."According to GSMA reports from 2023, mobile phone penetration in sub-Saharan Africa has surged, encompassing 43% of the population. This substantial increase in mobile connectivity serves as a foundation for the scalability and potential widespread adoption of MPost's innovative solution."Many people in Africa do not have a functional postal address but MPost is aiming to change that," said JC Oelofse, Head of Investment at Renew Capital. "Improving address access means improving access to various services and Renew Capital is excited to join MPost on this journey."*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.

MPost secures investment from Renew Capital to expand its mobile postal service. MPost converts phone numbers into postal addresses, improving access to goods and services across Africa.