Africa Finance Corporation Commits $100 Million to Tech Fund Managers

The Africa Finance Corporation (AFC) has allocated up to $100 million to Africa-focused technology fund managers. This investment aims to boost the continent's digital industrialization and bridge the gap in long-term capital for tech businesses. Despite Africa's digital economy potentially contributing $700 billion to GDP by 2050, access to local venture funding remains limited, with most investments originating internationally.

With commitments to Lightrock Africa Fund II and Future Africa Fund III, AFC intends to enhance local ownership in the tech sector. The continent has already produced nine unicorns and raised $3.8 billion in startup funding in 2025, highlighting the sector's potential. By catalyzing local institutional participation, AFC seeks to change the current funding narrative and fortify Africa's digital economy growth.