Africa Ecosystem Catalysts Facility Invests $450,000 in Two Nigerian Startups

The Africa Ecosystem Catalysts Facility has allocated a total of $450,000 to two Nigerian startups, Trade Lenda and AirSmat. This funding represents the facility's initial deployment in Nigeria under a $4 million pilot program designed to support founders often overlooked by traditional investors.

Managed by Village Capital with backing from the Dutch Entrepreneurial Development Bank (FMO) and the Netherlands Enterprise Agency (RVO), the facility focuses on early-stage capital for companies in Ghana, Nigeria, and Tanzania that promote climate resilience and economic mobility.

Trade Lenda, a digital financial services platform, aims to increase access to finance for small and medium-sized enterprises (SMEs) through digital loans and Sharia-compliant products. The company has supported over 260,000 SMEs and farmers, with 66% of its clients being women.

AirSmat, a climate technology firm, converts agricultural waste into biochar-based fertilizer. This solution reduces carbon emissions, enhances soil health, and creates new income streams for farmers. The investment will support the scaling of AirSmat's production capacity and market reach.