A recent investment by Village Capital, facilitated through Standard Chartered’s Women in Tech Financing Facility, is shining a light on the potential of women-led businesses to drive transformative change.

This initiative, aimed at supporting alumni of Standard Chartered’s Futuremakers program, has provided USD 150,000 to two promising startups:

• Rhea Soil Health Management (Rhea): A Kenyan-based startup transforming agriculture with affordable and accessible soil testing solutions.
• Regxta: an innovative fintech company dedicated to empowering micro, small, and medium-sized enterprises (MSMEs) by providing them with tailored digital financial solutions.

Rhea Soil Health Management (Rhea): Empowering Women, Transforming Agriculture

Rhea’s innovative approach is particularly noteworthy. Their flagship product, Agripad, is a portable soil testing device that empowers smallholder farmers with crucial data.

By understanding their soil’s nutritional needs, farmers can optimise their farming practices, improve crop yields, and enhance soil health. This is a critical step towards sustainable agriculture, particularly in regions facing challenges like soil depletion.

“Building a science-driven hardware-software business in Africa’s agritech sector is challenging,” acknowledges Priscilla Wakarera, founder of Rhea. “Village Capital’s investment will be instrumental in finalising the production of our Agripad devices, expanding our agent network, and ultimately amplifying our impact on smallholder farmers and agronomists across Kenya.”

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Regxta: Empowering Nigerian Women Entrepreneurs Through Financial Inclusion

In Nigeria, where access to formal financial services can be a significant hurdle, especially for women-owned businesses, Regxta is emerging as a source of hope.

This innovative fintech company is dedicated to empowering micro, small, and medium-sized enterprises (MSMEs) by providing them with tailored digital financial solutions.

Bridging the Gap: Access to Finance for Women

Regxta recognises the unique challenges faced by women entrepreneurs in accessing capital and building sustainable businesses. Traditional financial institutions often overlook these businesses, leaving them underserved and hindering their growth potential. To address this gap, Regxta offers a comprehensive suite of services, including:

1. Microloans: Providing crucial access to capital for business expansion and growth.
2. Savings Products: Enabling entrepreneurs to save and build financial stability.
3. Financial Literacy Tools: Empowering businesses with the knowledge and skills to manage their finances effectively.

Rukayat Bello, founder of Regxta, highlighted the significance of this investment: “Village Capital’s investment arrived at a crucial time, enabling us to expand our reach, secure a microfinance banking license, and enter new markets. This support affirms Regxta’s position as a high-impact startup driving poverty reduction, fostering economic growth, and creating sustainable opportunities for underserved communities in Nigeria.”

A Shared Mission: Empowering Women Entrepreneurs

The investment from Village Capital is part of the Women in Tech Financing Facility, a joint initiative with Standard Chartered. This collaboration reflects a shared commitment to address the significant gender disparities in access to funding.

Eva Waweru, a representative from Village Capital, emphasised the critical role of women entrepreneurs in driving economic and social progress: “Women entrepreneurs are critical drivers of economic and social progress. Our collaboration with Standard Chartered aims to ensure these leaders have the financial backing they need to scale their businesses and maximise their impact. Through targeted investments, we are creating a more inclusive entrepreneurial ecosystem that supports innovation and sustainable development in Africa.”

Village Capital: Empowering Entrepreneurs for Social Good

Since its inception in 2012, Village Capital has been a driving force in transforming traditional investment models to empower emerging entrepreneurs who are addressing critical social, economic, and environmental challenges in sub-Saharan Africa.

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With a successful track record of over 14 accelerator programs implemented across 15 countries, Village Capital has created a thriving ecosystem of innovation by supporting more than 120 startups and 78 Entrepreneur Support Organisations (ESOs).

Their focus areas include financial health, sustainability, and the future of work, all of which are essential for building a more inclusive and resilient Africa.

Breaking Barriers: A Catalyst for Change

By providing catalytic capital and mentorship, the Women in Tech Financing Facility empowers women entrepreneurs to overcome the unique challenges and biases they face. This support not only enables them to build successful businesses but also contributes to a more inclusive and equitable entrepreneurial ecosystem.

Investing in Innovation for Social Impact

Rhea and Regxta are prime examples of how African entrepreneurs are harnessing the power of technology to create a more prosperous future. By providing digital tools and data-driven solutions, these startups are directly impacting key sectors that are fundamental to Africa’s economic growth and social progress.