Connect with us

Hi, what are you looking for?

Arif Hamid, Co-Founder and Managing Director, AFZA Capital


AFZA Capital launches First East Africa-based fund in Nairobi

NAIROBI,Kenya Mar 9 – Early stage Venture capital firm, AFZA Capital, has launched its first East African-based fund in Nairobi as it seeks to expand to the wider African market.

The firm is offering from USD 25,000 –up to 250,000 as investments in each early-stage venture it chooses to support. The fund is targeting businesses delivering social impact through disruptive innovation.

Arif Hamid, co-founder and Managing Director at AFZA Capital, said the fund is looking at businesses from incubation to Pre-series A capital in what he said is a complete corporate support system that elevates performance.

The fund will be open to investing in early ventures with both proven operational businesses and ventures still in their concept or pre-investment phase.

“Reflecting its origins and commitment to East Africa, the AFZA Capital Fund will take a more locally involved approach in the way it selects and supports the ventures it invests in,” the firm said.

Hamid said that AFZA Capital is proactively looking to invest in, mentor and help scale women entrepreneurs, women-led ventures and businesses advancing gender equality through innovation.

Arif Hamid, Co-Founder and Managing Director, AFZA Capital

Although it is dedicated to businesses across diverse sectors, he said the firm has a special preference in healthcare, financial technology, agriculture, and education

“AFZA Capital management team will support the ventures’ day-to-day operations, contributing their expertise in strategy, business development, finance, marketing, risk-management, and other disciplines.

“AFZA Capital’s management will also support the ventures with mentorship, incubation services, access to strategic networks and skills training,” the firm said in a statement.

Mark Zanders, co-Founder at AFZA Capital, said one of the firm’s key priorities is social impact through not only investment but also education, he said the firm is keen to not only generate strong financial returns but to do so by uplifting the lives of millions in a sustainable way.

Advertisement. Scroll to continue reading.

“It is really not the money but the nurturing.We are dedicated to providing expertise on businesses which are scalable  and have impact on the society,” he said during the fund’s launch in Nairobi.

In a dialogue  forum with entrepreneurs, the firm’s senior advisor, Mathew Magare said that business seeking to raise funds with the VC firm should be dedicated about their agenda,” “provided you are passionate about the problem, you will be unemotional on problems,” he said.

Edward Omete, special advisor at AFZA Capital said enterprenuers should “invest in getting startup facts right at early stage and report the challenges as much as the success.  

Three months after launching operations in Nairobi, the VC firm has already invested in two early-stage businesses harnessing technology to address challenges in the financial and healthcare sectors. The two are web-based Daktari and Popote Pay, healthcare consultation applications.

1 Comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...