German GreenTec Capital invests in Sumundi, its first 2020 operation in Ghana
Tuesday, 05 May 2020 13:33
German investment firm GreenTec Capital announced it has made its first commitment of the year 2020 in Ghana. The firm targeted the Sumundi platform which supports, develops, and facilitates the sales activities of retailers via inventory management and accounting software.
The size of the investment and details of the deal were not disclosed. GreenTec is investing in a company that works with more than 500 retailers in Ghana. Co-founded by partners Awura Abena Amponsah and Gilbert Blankson-Afful, Sumundi says it has to date raised nearly $1.2 million for small retail businesses.
Contributing 25% of the continent's GDP and generating nearly 60% of jobs, the retail sector is, according to GreenTec's management team, a promising area that could generate attractive returns.
Before Ghana, the German firm led by the duo Erick Yong and Thomas Festerling has been active in Kenya, Côte d'Ivoire, and Morocco.
Chamberline Moko
Live News
-
Togo Lawmakers Approve Green Reform Bill Introducing Carbon Tax
20:02
-
Two Agriculture Projects Launch to Strengthen Climate Resilience in Northern Cameroon
19:41
-
Cameroon Weighs Co-Financing Plan to Link Youth Plantain Farmers to Markets and Financial Access
19:38
-
Nigeria’s Port Traffic Rises 24.8% in 2025, Lekki Port Handles 40.6% of Cargo
19:28
-
Meriam Bessa Uses AI to Restructure Influencer Marketing in Morocco
04:40
-
Orange Business Partners With Dakar Port to Advance Smart Port Strategy
04:37
-
Smart Africa, MeetKai Launch Sovereign AI Infrastructure Pilot in Five African Countries
04:24
-
Telemedicine Startup Kénèya Koura Seeks to Modernize Mali’s Healthcare System
04:18
-
Togo raises 22 bln CFA francs on regional debt market
17:16
-
Luxembourg, through LuxDev, to finance higher education projects in Togo
13:26
Military escalation between Iran, Israel, and the United States has raised the risk of disruptions...
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...
Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...
Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with...
The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...
Germany funds €4m agriculture, soil health projects in northern Cameroon RESEAU and Soil Matters aim to boost climate resilience Projects promote...
Cameroon considers programme incubating 20 youth in plantain agribusiness Initiative links plantations to markets, financing, and banking...
Nigerian ports handled 129.3 million tons of cargo in 2025 Container traffic rose 25.7% to over 2.1 million TEUs Lekki Port handled 40.6% of cargo as...
East Africa processed 38,500 tons of cashews in 2025, up 5% Tanzania led growth, processing 20,000 tons, 52% regional share Processing capacity...
African-born artists generated $77.2 million in auction sales in 2024, down 31.9% year-on-year. Women artists accounted for about $22...
In April 2026, the Amani Festival will change venues. Forced to leave Goma for Lubumbashi due to growing insecurity, the event turns displacement into an...