Sudan’s First Foreign Venture Capital Investment In 30 Years
October 19th, 2021

Via Impact Alpha, an article on Sudan’s first foreign venture capital investment in 30 years – $5 million for Alsoug.com:

Macroeconomic, political and currency risks can make investors wary of infrastructure and private equity in Africa.

Sudan, which is open for investment after the Trump administration removed Sudan from the list of terrorist states last year. 

Sudan was one of Africa’s 10 fastest growing economies in 2020, and offers global investors “major potential across several sectors with a significant pool of entrepreneurial talent,” said Ashraf Sabry of Egypt’s Fawry, which led the investment in women-led Alsoug.com.

Digitalization

Female-led Alsoug.com launched as a classified ads and digital marketplace. The company will use the investment “to expand our services in fintech so that everyone in the country has the financial freedom they deserve and are able to transact in a fast, transparent, simple, and digital way,” said Alsoug’s Tarneem Saeed.

 

 


This entry was posted on Tuesday, October 19th, 2021 at 5:10 am and is filed under Sudan.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

Comments are closed.


ABOUT
WILDCATS AND BLACK SHEEP
Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.