FSD Africa Investments
Riverside Drive, Riverside Green Suites, Nairobi, Westlands, 00100, Kenya
Overview
Created in 2012, FSD Africa is a £30 million financial sector development programme or ‘FSD’ based in Nairobi. It is funded by UK aid from the UK Government. FSD Africa aims to reduce poverty across sub-Saharan Africa by building financial markets that are efficient, robust and inclusive. FSD Africa is a market facilitator or catalyst. It applies a combination of resources, expertise and research to address financial market failures and deliver a lasting impact. FSD Africa has a mandate to work across sub-Saharan Africa on issues that relate to both ‘financial inclusion’ and ‘finance for growth.’ FSD Africa is also a regional platform. It fosters collaboration, best practice transfer, economies of scale and coherence between development agencies, donors, financial institutions, practitioners and government entities with a role in financial market development in sub-Saharan Africa. In particular, FSD Africa provides strategic and operational support to the FSD Network.
- Total investments
- 1
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 3
Sector focus
- Banking
- Finance
- Financial Services
Investment portfolio
- Persistent
Led · Series C · Jul 2022
Persistent Energy is a climate venture builder and investor focused on renewable energy in Africa, helping startups scale from ideation to early growth. It invests both capital and human resources, with Persistent team members joining and working alongside portfolio company management teams. The firm has 20 partner companies across 17 countries in Sub-Saharan Africa and has completed two successful exits to date. Portfolio companies provide domestic, commercial and industrial solar solutions, e-mobility offerings, and ecosystem building, including Solar Works, Solar Taxi, Oolu, BBOX, Rensource, Upowa, Altech, Ecoenergy, Candi, Ecobodaa, Asobo and Hohm Energy. Persistent will use new funding to accelerate its growth in Sub-Saharan Africa, promote adoption of clean energy and e-mobility, and pursue pioneering venture-building investments and technological developments. The company also said it will use the capital to strengthen its team as it scales its operations.