
AfricaWorks Insights
May 22, 2025 at 02:37 PM
💸 Nigerian fintech Carrot Credit raised $4.2M seed funding led by MaC Venture Capital to grow its asset-backed lending platform across Africa 🌍. Founded in 2023, it lets users borrow by pledging digital investments like stocks or bonds 📈 as collateral—offering flexible terms, low rates, and a seamless B2B2C model integrated into fintech platforms 🤝.
📈 Egyptian fintech Valu got EGX approval to go public, with EFG Holding set to distribute 20.5% of Valu shares to shareholders instead of cash dividends 💸. It raised $27M from Saudi investors to boost capital and scale digital services post-listing, while retaining strategic backing from EFG 🏦.
🏭 Dangote Refinery has partnered exclusively with Vinmar’s Premier Product Marketing to export its polypropylene globally 🌍, following the recent launch of its $2B Lekki plant producing 900,000 mt/year using INEOS tech ⚙️. This move positions Dangote as Africa’s top polypropylene producer, set to shake up global markets across packaging, textiles, and construction 📦👗🚧.
💰 Seeds & Pennies, Liberty Assured’s retail lending arm, raised $1.1M to expand inclusive credit access in Nigeria, focusing on women-led microbusinesses and launching BNPL products for MSMEs, mobile devices 📱, and rent 🏠. With 40 branches (80% female workforce) and plans to double reach by 2026, the funding will boost lending, scale AI-driven collections, and deepen community impact 💼.
