🥾 Yikodeen secures $1.5M investment from Aruwa Capital

Today’s Menu ☕️

🥾 Yikodeen secures $1.5M investment from Aruwa Capital to scale safety footwear manufacturing in West Africa
💰 Enko Capital secures IFC backing for $150M Impact Credit Fund targeting African mid-market growth
🚌 BuuPass secures investment from Yango Ventures’ $20M Africa-focused fund
💦 Globeleq to acquire majority stake in Zambia’s Lunsemfwa Hydro Power Company
💳 Swypex launches Egypt’s first approval-based limits card

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🥾 MANUFACTURING

Yikodeen secures $1.5M investment from Aruwa Capital to scale safety footwear manufacturing in West Africa

Yikodeen, a Nigerian manufacturer specializing in safety footwear, has secured a $1.5 million investment from Aruwa Capital Management, a gender-lens private equity firm focused on West Africa. The funding, drawn from Aruwa Capital Fund II, will be used to significantly expand Yikodeen’s production capacity and deepen its market presence across Nigeria and the broader West African region.

Founded in 2016 by Shamsideen Atunde, Yikodeen began as a modest workshop producing just 20 pairs of safety shoes per day. Today, it has grown into a key player in Nigeria’s industrial footwear sector, currently manufacturing 500 pairs daily. With this new capital injection, the company aims to scale production to 2,500 pairs per day, positioning itself as the largest safety footwear producer in West Africa.

Yikodeen has already made a substantial impact in the industry, supplying over 30,000 safety boots to major infrastructure and energy projects, including the Nigeria LNG Train 7. It is also the only manufacturer certified by the Nigerian Content Development and Monitoring Board (NCDMB) to supply safety boots to the country’s oil and gas sector—a critical endorsement in a highly regulated industry....…...…continue reading

💰FUNDING

Enko Capital secures IFC backing for $150M Impact Credit Fund targeting African mid-market growth

Enko Capital, a pan-African investment firm specializing in frontier and emerging markets, has secured a major commitment from the International Finance Corporation (IFC) for its newly launched Enko Impact Credit Fund (EICF)—the firm’s first private credit vehicle.

The IFC, a member of the World Bank Group, has pledged to invest up to $25 million, or 20% of the fund’s total commitments, whichever is lower. This anchor investment underscores the IFC’s confidence in Enko’s strategy and its commitment to expanding access to capital for mid-sized businesses across sub-Saharan Africa.

The EICF is targeting a total fund size of $150 million, with a first close of $80 million expected in Q3 2025. The fund will provide U.S. dollar-denominated senior secured and unsecured debt to mid-market companies operating in sub-Saharan Africa, excluding South Africa...…...…continue reading

🚌 TRANSPORTATION

BuuPass secures investment from Yango Ventures’ $20M Africa-focused fund

BuuPass, a Kenyan mobility technology startup, has secured a strategic investment from Yango Ventures, the corporate venture capital arm of global ride-hailing and tech conglomerate Yango Group. This investment marks one of the first deployments from Yango Ventures’ newly launched $20 million fund, which is focused on supporting early-stage startups across Sub-Saharan Africa.

Founded in 2016 by Sonia Kabra and Wyclife Omondi, BuuPass has emerged as a transformative force in Africa’s largely under-digitized intercity transport sector. The company offers a comprehensive platform that enables users to book buses, trains, flights, and parcel delivery services, while also equipping transport operators with robust back-office tools for managing inventory, payments, and fleet logistics.

By 2024, BuuPass had processed over $70 million in bookings and sold more than 20 million tickets, partnering with over 150 transport providers across Kenya, Uganda, Tanzania, and South Africa. Its acquisition of South Africa’s QuickBus in 2024, following a $1.3 million pre-seed round in 2023, significantly expanded its footprint and solidified its presence in key regional travel corridors.....…continue reading

OTHER STORIES

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• Swypex launches Egypt’s first approval-based limits card……continue reading

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