Bullish
Fintech
Cross-border payments break $50B in 2025
Intra-African remittance corridors are growing 34% YoY, driven by AfCFTA and stablecoin rails replacing SWIFT.
Pipeline ARR
Aggregate ARR trend
$110.8M
Allocation
Capital ask by sector
Geography
Pipeline ask by country
Watch
Climate
Carbon credit premium widens 2.4×
African nature-based credits with strong MRV now trade at $24/ton — a record spread vs. baseline VCM pricing.
Bullish
Macro
FX hedging costs ease in EAC
KES and TZS volatility has compressed 38% post-IMF accord, materially lowering deal-structuring costs.
Caution
Regulatory
Nigeria startup act amendments delayed
The proposed Q1 amendments expanding tax reliefs are pushed to H2 — rerate near-term Lagos deals accordingly.
Quarterly memo
"African operators have stopped waiting for Western capital."
Local LPs now drive 41% of Series A rounds — up from 19% in 2022. The implication for foreign GPs: speed of conviction matters more than ticket size. Our Q2 memo unpacks the new playbook.