[Press Release – 29.11.2022 – Kinshasa] DRC Impact Angels, an investment club operating in the Democratic Republic of Congo, is pleased to announce its new investment in Wenzemobile, a leading agritech venture aimed at digitising and optimising the sale and distribution of agricultural products from smallholder farmers in DR Congo.
Wenzemobile is a B2B fresh foods marketplace targeting processors and retailers in Kinshasa. It offers logistics services for fresh food wholesalers, with products sourced from Kongo Central in west DR Congo.
DRC Impact Angel’s investment into Wenzemobile was matched by financing worth over 46,000 Euros by Catalytic Africa, in the 10th transaction by the matching fund since the start of the year.
The incubator Ingenious City, which is based in Kinshasa, will provide the necessary support for Wenzemobile in its growth.
“With this investment, Wenzemobile will strengthen its logistical and digital capacities in order to improve the efficiency and reliability of the supply chain from production areas to urban distribution and consumption centres,” according to the Kinshasa based venture.
A statement from DRC Impact Angels read; “Wenzemobile’s mission in DR Congo is to facilitate access to food products in Kinshasa while increasing the income of producers in rural areas. This involves improving the efficiency of the supply chain between production and consumption centres.”
The investment into Wenzemobile is the first of its kind by Catalytic Africa in DR Congo.
“The co-investment of Catalytic Africa and DR Impact Angels will work to strengthen Wenzemobile’s logistical and digital capacities. With Wenzemobile, Catalytic Africa makes its first investment in DR Congo in partnership with DRC Impact Angels – but it will likely not be the last,” said the fund.
Catalytic Africa is an endowment fund set up by the African Business Angels Network (ABAN) and AfriLabs, aiming at supporting start-ups, innovation centres and angel investors in Africa.