ImpactAlpha, October 19 — Macroeconomic, political and currency risks can make investors wary of infrastructure and private equity in Africa (for context, see “Consider yourself a fiduciary? Then it’s time to invest in Africa”).
Case in point: 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.
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.