DPI acquires Egypt's fintech fund Nclude
Cairo – UK-based VC firm Development Partners International (DPI) has acquired Nclude, an Egypt-based fintech fund by Global Ventures, according to a press release.
Following the transaction, DPI took over the investment advisory responsibilities of the fund, which is the largest fintech-focused fund in Africa.
The launch of DPI Venture Capital and the completion of the Nclude transaction anchors DPI's position as the premier Africa-focused private investment adviser.
DPI has invested around $850 million in Egypt in the last decade and has seen the power of digitization via portfolio companies such as MNT Halan and Kazyon.
Runa Alam, DPI Co-Founder and CEO, said: 'The platform provides our limited partners with the opportunity to invest in Africa's most exciting companies from their very beginning.'
'The completion of the Nclude transaction is an opportunity to build on the success of our previous investments in technology-led companies and will empower our investors to add exposure to highly innovative growth-oriented businesses,' Alam mentioned.
Founded in March 2022, Nclude has invested over $28 million across nine transactions, including companies such as Paymob, Khazna, Flapkap, and Connect Money.
Source: Mubasher
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
Godolphin target classic glory across continents on an epic global racing weekend
The historic Epsom Downs Racecourse in Surrey, south of England, will again become the theatre of dreams this weekend as the flat-racing spotlight turns to the historic Epsom Derby Festival. A cornerstone of British racing, the two-day extravaganza features two epic Group 1 races – the Epsom Oaks (G1) on Friday and the Epsom Derby on Saturday. As Dubai's royal blue juggernaut - Godolphin - launches a global charge with nearly 40 runners competing at top-tier race meetings across four continents the primary focus will be on the sweeping Downs of Surrey in addition to the grandstands of Saratoga and Belmont Park in America, With 189 wins, 47 stakes victories, and 6 Group 1s already under their belt in 2025, this weekend's goal is clear: keep the momentum galloping. On Friday, attention turns to the Group 1 Epsom Oaks, where the unbeaten Desert Flower bids to emulate the great Kazzia, Godolphin's 2002 heroine, by completing the rare 1,000 Guineas–Oaks double. Godolphin will be hoping that the winning mentality fuels Desert Flower as she tackles the mile-and-a-half classic, a race Charlie Appleby has yet to win. 'Desert Flower has been faultless to date and looks great,' said the big-race-winning handler. 'We all know that the trip is going to be the question mark, and we won't know whether she stays until we run her over it. 'She looks like a filly who will get a mile and a half and, as far as we are concerned, she has won the best trial for the race.' Trained by Charlie Appleby, the Desert Flower stayed on strongly when making all on her seasonal return in the 1,000 Guineas, hitting the line well to beat Flight by a length. The Oaks was founded by the 12th Earl of Derby, Edward Smith-Stanley, and named after his estate, The Oaks, located near Epsom. The first running was held in 1779, one year before the inaugural Epsom Derby. The Coronation Cup, a classic contest for older horses first held in 1902 to commemorate the coronation of King Edward VII, who succeeded Queen Victoria, is the main supporting race. Godolphin's Ancient Wisdom returns to the track where he contested the Derby last year as he seeks to add his name to Godolphin's past champions like Daylami, Ghaiyyath, and Mutafaweq. Now a year older and more experienced, the Futurity Trophy winner will hope rain plays to his strengths. Supporting Friday's Classic card is the Woodcote Stakes where Maximized will aim to echo the path once taken by Pinatubo while the exciting Hallasan lines up in the Surrey Stakes, hoping to follow in Space Blues' illustrious hoofprints. The ultimate prize comes Saturday: the Epsom Derby, a race Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has relentlessly pursued for decades and has won it three times. The legendary Lammtarra, who was schooled in Dubai by Saeed bin Suroor during the winter and then dispatched to England for the summer season, triumphed in 1995 under choirboy Walter Swinburn. Lammtarra, one of the original Godolphin superstars with wins in the King George (G1) and Arc (G1) raced in the Green silks with white sleeves and a red cap of Sheikh Saeed bin Maktoum Al Maktoum. This year Godolphin sends out Ruling Court who will seek to replicate the victories of Masar (2018) and Adayar (2021). This race carries deeper resonance as it is run in honour of the Aga Khan IV, whose own Derby legacy is profound, having won the great race five times, with Shergar (1981), Shahrastani (1986) Kahyasi (1988), Sinndar (2000) and Harzand (2016). While Epsom steals the spotlight, the transatlantic leg of Godolphin's campaign is just as ambitious. At Saratoga, Think Big and Good Cheer aim for Grade 1 riches in the Jaipur and Acorn Stakes, respectively. Meanwhile, all eyes will be on Kentucky Derby winner Sovereignty, trained by William Mott, as he contests the Grade 1 Belmont Stakes, the climactic jewel in America's Triple Crown. Victory here would further entrench Godolphin's dominance across hemispheres. The passion instilled by Sheikh Mohammed and the late Sheikh Hamdan bin Rashid Al Maktoum remains the heartbeat of UAE racing. Their legacy is not just in the number of wins but in the relentless pursuit of racing immortality.
Zawya
2 hours ago
- Zawya
European Union and Culture Fund Continue to Strengthen Zimbabwe's Creative Sector with Four Newly Awarded Grants
The Culture Fund of Zimbabwe Trust, in partnership with the European Union (EU) Delegation to Zimbabwe, is pleased to announce the awarding of grants for a total amount of USD $27,929.00 to four outstanding Zimbabwean cultural and creative operators under the CreativeACTIONs 2 program — the EU Delegation's flagship cultural initiative in Zimbabwe. The newly awarded grants, ranging from USD $1,598.00 and USD $10,000.00, support a dynamic mix of local and international-facing initiatives that use arts and culture as tools for promoting inclusion, innovation, skills transfer, economic empowerment and global engagement. The four funded projects include: A disability-inclusive visual arts exhibition amplifying the voices and creativity of persons with Albinism through workshops, public showcases and advocacy around accessibility in the arts. A heritage-inspired empowerment project helping 100 women generate income by transforming gemstones into high-value jewellery, in collaboration with the Zimbabwe School of Mines and MMCZ. A mobility grant enabling a young Zimbabwean theatre educator to participate in a knowledge exchange and international capacity-building in Germany. Funding for an international theatre festival and arts platform showcasing Zimbabwean and international talent, further expanding Zimbabwe's cultural footprint and promoting cross-cultural dialogue and sector growth. This latest round of grants builds on the EU and Culture Fund's shared commitment to bolstering Zimbabwe's creative economy by supporting youth, women, and Persons with Disabilities (PwDs),at all career stages from emerging to established through strategic funding of organizations, institutions, events and festivals that expand opportunities within the arts and culture sector. This support also facilitates international cultural exchanges between Zimbabwean creatives and artists in other African countries and EU member states. Since its launch in 2023, CreativeACTIONs 2 has supported 86 projects nationwide with a total investment of USD $1,232,050.00. The initiative has had a meaningful impact on Zimbabwe's creative ecosystem by: Strengthening institutional and individual capacity; Advancing inclusion and representation in the arts; Creating platforms for creative expression, innovation and economic opportunities; Supporting national cultural policies; Facilitating mobility market access for Zimbabwean arts and cultural products. All ten provinces of Zimbabwe have benefited from CreativeACTIONs 2, with projects ranging from community-level empowerment to international collaborations. These initiatives have provided Zimbabwean artists with enhanced opportunities for cross-border exchange, market expansion, and increased international visibility. The final Call for Proposals under the programme closed on 31 May 2025, with successful applicants expected to be announced in July 2025. Distributed by APO Group on behalf of Delegation of the European Union to Zimbabwe.
Zawya
3 hours ago
- Zawya
Driving through barriers: Joan Kaitesi's journey on male-dominated roads
In the heart of Uganda's capital, 35-year-old Joan Kaitesi navigates the city's infamous traffic jams with calm determination. As a driver for the World Health Organization (WHO) Uganda country office, Joan's professionalism shines through the daily chaos of blaring horns and impatient road users. From a young age, Joan was captivated by vehicles. Inspired by action films and a childhood dream of driving tanks in war zones, Joan's fascination with big vehicles set her apart. While society often labelled her interests as 'masculine,' Joan remained steadfast, determined to forge a path in a field traditionally dominated by men. 'Being one of the older children at home, I had to act as a role model to my siblings in a challenging environment. This pushed me to work hard and never despise any job, including roles commonly reserved for men, which led me to join the driving discipline,' shares Joan, the second-born in a family of six (three girls and three boys). Her professional journey began in 2015 at the Infectious Diseases Institute (IDI), where she stood out as the only female among 15 applicants. Despite initial intimidation, Joan's skills and determination earned her the role, making her the first female driver at IDI. She later joined Chemonics International for five years, and then UN Women, where she expanded her responsibilities to include assisting expatriates with documentation and protocol duties. In October 2024, Joan joined WHO Uganda during a polio immunization campaign, becoming the second female driver at the country office. Joan's journey has not been without obstacles. She has faced gender stereotypes and skepticism from male colleagues and road users alike. Yet, she has consistently proven her capabilities through quick decision-making, time management, and a strong commitment to safety and professionalism. One of her most memorable moments came in 2021, during a circumcision campaign in Karamoja. When a nurse was suddenly unavailable due to an emergency, Joan stepped in to assist, showcasing her adaptability and dedication to service. Joan draws inspiration from trailblazing Ugandan women such as Justice Julia Sebutinde of the International Court of Justice and Jennifer Musisi, the first Executive Director of Kampala Capital City Authority. These role models have shown her that women can thrive in male-dominated spaces. She holds a Bachelor's degree in Transport and Logistics Management from Makerere University Business School, along with training in 4x4 defensive driving, first aid, and other relevant skills. Currently, Joan is pursuing further education in the same field, with the goal of becoming a fleet officer. She encourages young women to be resilient, professional, and open to continuous learning. Outside of work, Joan is a passionate advocate for healthy living. She works out three to four times a week and enjoys dancing, whether there's music or not. She also finds joy in gardening, often talking to her plants as she tends to them. Distributed by APO Group on behalf of World Health Organization - Uganda.
