Kigali International Financial Center (KIFC) -an entity of Rwanda Finance Limited- formalized yesterday, February 2, the very first African fund exclusively dedicated to the financing of fintechs, with an initial capital of 50 million dollars.
Backed by South African businessman Vusi Thembekwayo’s MyGrowthFund Venture Partners, the fund will focus on entities with proven technology. The announcement was made in Dubai, during a business forum organized as part of Expo2020.
Highlighting that less than 10% of private equity investments in 2021 came from the continent, KIFC intends to take up the challenge of financing fintech companies in Africa.