Browsing: funding in Kenya

WorkPay Startup Kenya
  • WorkPay has received KSh 341.3 million (US$2.7 million) from international investors to expand in Africa
  • The Kenyan HR and payroll solution said the pre-series A round was led by several companies including Acadian Ventures, Fondation Botnar, P1 Ventures, and Kara Ventures
  • The funding will assist WorkPay to expand in 40 countries in Africa

WorkPay, a Kenyan human resource (HR) and payroll solution startup WorkPay, has received KSh 341.3 million from international investors to expand in Africa. The startup offers cloud-based human resources management and payroll solution for small and medium-sized businesses (SMBs) in Africa.

On February 22, 2023, WorkPay announced that the investment, a pre-series A round, was led by several companies including Acadian Ventures, Fondation Botnar, P1 Ventures, and Kara Ventures.

The funding will assist WorkPay to expand in 40 countries in Africa.

Commenting on the funding, WorkPay CEO and Co-Founder Paul Kimani told TechCrunch that the company has …

www.theexchange.africa
  • The World Bank Board of Directors has approved a US$150 million to support locally-led climate resilience projects in all rural wards in Kenya
  • The program’s development objective is to deliver locally-led climate resilience actions

The World Bank Board of Directors has approved a US$150 million International Development Association (IDA) credit to support community identified and locally-led climate resilience projects in all rural wards in Kenya.

In a statement, the organization says the resources will be channelled through the new Financing Locally–Led Climate Action (FLLoCA) Program.

The program’s development objective is to deliver locally-led climate resilience actions and strengthen county and national governments’ capacity to manage climate risks.

“Kenya has demonstrated leadership in establishing a policy framework to manage climate risk though climate action is still underfunded.” said Keith Hansen, World Bank Country Director for Kenya.

“This financing will support the Government of Kenya meet its climate commitments to increase financing …