EIB Global, the development arm of the European Investment Bank (EIB), has injected €40 Million into Africa-focused investment vehicle Speedinvest, in a move to strengthen EU–Africa ties, support digital transformation, and promote inclusive economic growth across the continent.
Speedinvest will invest in tech startups in Egypt, Morocco, Nigeria, Kenya, and South Africa, as well Ghana, Côte d’Ivoire, Cameroon, the Democratic Republic of Congo, Tunisia, Tanzania, and Uganda. A planned office in Africa is expected to further strengthen local presence and hands-on support for founders.
The fund is designed to improve digital and financial inclusion and strengthen commercial and capital linkages between African and European ecosystems, enabling startups to scale across borders.
According to EIB Vice-President Karl Nehammer, “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. In a world of fragmentation, we are building bridges.”
Speedinvest has already invested in African growth-stage companies such as Moove (Nigeria), FairMoney (Nigeria), Khazna (Egypt), Mophones (Kenya), Anda (Angola), Julaya (Côte d’Ivoire), Oze (Ghana), Precium (South Africa), and Leta (Kenya).
The firm will use the new fund to deepen its investments in these markets and connect these ventures to European capital and expertise with high-growth innovation ecosystems.
Speedinvest will target startups in technology-enabled and mobile-based services across payments, healthcare, mobility, and education.
“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,” said Speedinvest CEO and Managing Partner Oliver Holle.“ 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.”