Grace Ashiru
EIB Global has committed €40 million ($46 million) to Speedinvest’s Africa-focused investment vehicle, according to an announcement on March 17, 2026
The Speedinvest Africa Fund has a target size of €200 million (approximately $230 million), according to EIB information. The EIB’s €40 million commitment is designed to catalyze additional fundraising from other institutional investors and development finance institutions, according to the bank.
The fund will back technology companies across innovation hubs including Egypt, Morocco, Nigeria, Kenya, and South Africa, according to the announcement. The fund will also invest in Ghana, Côte d’Ivoire, Cameroon, the Democratic Republic of Congo, Tunisia, Tanzania, and Uganda, according to the fund description.
The strategy focuses on technology-enabled and mobile-based services across payments, healthcare, mobility, and education, according to the fund description.
At least 30 percent of the fund will support companies advancing gender equality, including women as founders, employees or consumers, according to the announcement.
Speedinvest has previously invested in African startups including Moove and FairMoney in Nigeria, Khazna in Egypt, Mophones in Kenya, Anda in Angola, Julaya in Côte d’Ivoire, Oze in Ghana, Precium in South Africa, and Leta in Kenya, according to company information.
EIB Statement
“Technology has the power to turn good ideas into real impact. By backing this vehicle, we are enabling African innovators to scale, access new markets, and build sustainable businesses — creating shared opportunities for both Africa and Europe,” stated Karl Nehammer, EIB Vice-President, according to the announcement.
“With EIB Global support, we are deepening our long-term commitment to backing exceptional founders across Africa while strengthening enduring bridges between Africa and Europe,” stated Oliver Holle, Speedinvest CEO and Managing Partner, in the announcement. “By combining local presence with our European network of operators, sector expertise, and follow-on capital, we aim to help founders scale regionally and internationally.”
A Speedinvest office in Africa is planned, according to the announcement.
EIB Global is described as the European Investment Bank Group’s specialized arm devoted to development finance, according to the announcement.
