Africa Finance Corporation, the development finance institution (DFI) with over $19 billion in total assets, has committed $40 million to Future Africa, an early-stage venture capital firm, and Lightrock Africa, the London-headquartered impact investment firm with investments in Moniepoint and M-Kopa.
The commitment is part of a larger $100 million fund created within AFC’s telecommunications and technology department to invest in African tech venture capital managers.
Funding from DFIs like the AFC has long served as the backbone of startup investing on the continent, but it fell to 27% of total commitments in 2025, according to the African Private Capital Association.
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