EIB Global commits €40m to Speedinvest
Strategy targets technology-enabled services in payments, healthcare, mobility, and education.
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African technology startups are set to receive additional financing following a €40 million commitment from EIB Global, the development arm of the European Investment Bank (EIB), to an Africa-focused investment vehicle managed by European venture capital firm Speedinvest.
The fund will back technology companies across established innovation hubs, including Egypt, Morocco, Nigeria, Kenya, and South Africa. It will also invest in markets including Ghana, Côte d’Ivoire, Cameroon, the Democratic Republic of Congo, Tunisia, Tanzania, and Uganda.
The strategy focuses on technology-enabled and mobile-based services across payments, healthcare, mobility, and education.
“Technology has the power to turn good ideas into real impact,” said EIB vice-president Karl Nehammer. “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.”
“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.”
The fund is managed by Speedinvest partners Deepali Nangia and Rana Abdel Latif. Speedinvest plans to open an office in Africa to strengthen its local presence and hands-on support for founders.
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