Accelerex, a Mauritius headquartered payment terminal service provider to banks and merchants in Nigeria, has raised US$20-million from African Capital Alliance. Accelerex began its operations in Ghana in 2019 and now provides its services to financially underserved Nigerians through a network of 9,000 agents. Accelerex plans to use the funding raised to expand into Kenya, Tanzania (East Africa) Cote d’Ivoire (West Africa) and South Africa.
African Capital Alliance (ACA) is a leading pan-African investment firm sponsoring funds and managing investments in Sub-Saharan Africa. Capital Alliance Property Investment Company is a $165-million fund established to invest in real estate and related opportunities in West Africa. The fund invests in residential, retail, office and hospitality assets. The Cape IV Fund is a $567-million fund that invests in financial services, technology, media and telecoms, FMCG, energy and other emerging sectors in West Africa.