Hi, welcome to Tech This Evening, an After-Work Tech Newsletter from Techparley Africa. Sure, there is a lot to unpack right now. Sit back, while I walk you through.
Top Story: Sabou Capital Secures Mastercard Foundation-Backed Investment to Support SMEs Across Africa
Nigeria-based impact investment firm, Sabou Capital has secured an anchor investment from the Mastercard Foundation Africa Growth Fund, strengthening its mandate to finance tech-enabled small and medium-sized enterprises (SMEs) across Africa’s underserved markets.
The fund, which focuses on early growth-stage businesses, will deploy capital across Cameroon, Côte d’Ivoire, Senegal, and Nigeria, targeting sectors including agriculture, healthcare, logistics and mobility, fintech, and climate technology.
The Mastercard Foundation Africa Growth Fund is a $200 million fund-of-funds initiative designed to support African-owned investment vehicles that back women-led and gender-diverse enterprises.
“We target secondary cities and regions that mainstream capital bypasses,” said Surayyah Ahmad, partner at Sabou Capital. “Many of these businesses are investment-ready: the revenues are there, the model works, and the market is real. Yet they are excluded because they lack the investor-readiness infrastructure required by conventional capital.”
“What we see across markets is not a lack of viable businesses, but a mismatch between how capital is structured and how these companies actually grow,” Christian Amouo, Partner at Sabou Capital, said. “Our role is to bridge that disconnect so businesses can move forward on terms that reflect their realities.”
Other Tech News Stories You Should Read:
Business Corner: How to start a profitable e-commerce business in Africa’s growing digital market. Read now.
Misti AI Raises £250,000 to Transform Industrial Cameras Into AI-Powered Sensors. Read now.
General Analysis Raises $10 Million to Tackle Security Risks in Autonomous AI Systems. Read now.
On Startup Spotlight:
PaidHR and Zitra Launch Payroll Financing Solution to Tackle Cash Flow Gaps for African Businesses
PaidHR, a payroll and human resources management platform operating across Africa, has partnered with Zitra, a provider of business financing solutions, to launch a payroll financing product designed to help companies meet salary obligations despite delays in customer payments.
The initiative targets a persistent challenge faced by many businesses, particularly those operating in sectors with long billing cycles where payroll deadlines often arrive before revenue is collected.
By integrating Zitra’s financing capabilities into the PaidHR platform, the solution enables businesses to access short-term liquidity, bridging the gap between invoicing and payment collection.
“Employees should stay protected from the natural delays of business collection cycles. Through our partnership with Zitra, we are helping employers maintain payroll consistency and preserve stability for their teams,” said Olakunle Awosanmi, Head of Business for PaidHR’s Embedded finance products.
“Timing is one of the most common hurdles for growing companies. This collaboration delivers liquidity exactly where it is needed most, ensuring that a business’s success isn’t slowed down by the wait for incoming revenue,” said Zitra’s Chief Executive Officer, Babatunde Obadero.
Quadri Adejumo brings you all the details. Read here.
Also Read:
Egypt’s Startup, Taager, Bets on China to Power MENA E-Commerce Boom as Competition Intensifies. Yakub Abdulrasheed brings us the details, here.
Quote of the Day:
“Any sufficiently advanced technology is equivalent to magic.” – Arthur C. Clarke.
Thank you for joining me yet again this evening. Stay safe, and see you tomorrow for the next tech newsletter.
Best, Quadri
