AfriLabs and Renew Capital Drive Investment in African Startups -  Leveraging a Shared Vision for Impactful Change in Africa


AfriLabs and Renew Capital formed a strategic and collaborative relationship that will foster innovation, drive sustainable and impactful change in Africa by signing a memorandum of understanding at the 2023 AfriLabs Annual Gathering event hosted in Kigali, Rwanda.  


This exciting partnership will enable Renew Capital to gain access to de-risked and investable startups within the AfriLabs network through AfriLabs Connect Deal Room (ACDR); an initiative that connects global investors with innovative startups in Africa seeking to raise scale-up funding for their businesses. The referred startups from the ACDR will be considered by Renew Capital for inclusion within the prevailing investment process for funding.


Ajibola Odukoya, Chief Operating Officer at AfriLabs, said, “We are excited to work with Renew Capital to provide a platform for African startups to access capital, training and mentorship , and It will help to spur the wave of change that African innovators and entrepreneurs have long sought. Connecting investors to innovative projects will create economic and social value not just in Africa, but throughout the world.”


“As a firm our mission is to grow companies that in turn build their nations and leave a lasting legacy,” said Lucas Robinson, Director of Regional Private Sector Projects at Renew Capital. “We’re excited to work more closely with AfriLabs and its continent-wide network of entrepreneurship hubs to add value to the business ecosystems in Africa.


This partnership shows the dedication of both organizations to promoting entrepreneurship, collaboration, and knowledge sharing on the continent. Together AfriLabs and Renew Capital will work to create a brighter future for all Africans, with an eye towards sustainable development and inclusive growth.


For more information about the AfriLabs Annual Gathering 2023 and AfriLabs, visit and To learn more about Renew Capital visit


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About Renew Capital
Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential. Renew Capital manages investments made on behalf of the Renew Capital Angels, a global network of angel investors, foundations and family offices who seek financial returns and sustainable social impact.


About AfriLabs

AfriLabs is an organization committed to fostering innovation and building a strong community around innovation hubs and other key stakeholders across all African countries. Through data analytics, tailored training programs, knowledge-sharing initiatives, and specialized support, AfriLabs equips Africa with the essential skills and resources needed to drive sustainable development and growth within the continent’s tech and innovation landscape. As an organization aiming to raise $1bn in the next three years, AfriLabs engages with policymakers and stakeholders to shape policies that empower the pan African innovation economy, driving sustainable growth and technological advancement backed by data. 


Visit the AfriLabs website to learn more about how the largest pan-African innovation-focused network is making a difference.