What’s on Goodwell’s radar? - Nov/Dec 2025
Last month’s office discussions offered a diverse mix of insights, from a Dutch call to recognise Africa’s investment potential to a behind-the-scenes look at one of our portfolio companies building food security. The stories shared in our team chat all have a common thread: it’s about looking forward, not back!
Souk Farms on CNN: From soil to security
In a recent Connecting Africa segment, CNN looked more closely at Africa’s food security challenges. Souk Farms, a Goodwell Portfolio company based in Rwanda, was front and centre. The feature interviewed their CEO, Seun Rasheed, and highlighted how local agribusinesses are building robust regional supply chains, improving local nutrition and livelihoods. As climate change and global supply disruptions increase, local, impact-driven businesses like Souk Farms are showing the world what sustainable agriculture can look like in East Africa.
RMB’s ‘Where to invest in Africa 2025/26’
Leading African corporate and investment bank, RMB, recently shared their Where To Invest In Africa (WTIIA) publication. It paints a picture of a continent rapidly shifting from an aid to investment dynamic. In 2024, FDI inflows jumped 75% to nearly USD 97 billion, driven by Egypt, South Africa, Morocco, and Côte d’Ivoire. RMB notes that “countries investing in resilience and industrial capacity are those attracting the most capital.” Their analysis ranks Seychelles and Mauritius at the top for stability and innovation, while Zambia’s post-debt restructuring seems to be rewarding attempts at reform. For impact investors, the message is clear: diversify across regions leading the shift toward resilient, trade-led, inclusive growth.
Continuation funds: The secondaries revolution
Continuation funds are private equity’s fastest-growing segment, rapidly reshaping how managers extend value creation. Once a niche tool, these GP-led secondaries have exploded as firms seek liquidity without exiting mission-driven businesses.
This recent paper from the CFA Institute Research & Policy Center provides an understanding of what continuation funds are, what has driven their dramatic growth, and what they tell us about private markets. It also explains both the heightened conflicts of interest arising in continuation funds, and mechanisms to address them, including important governance guardrails.
Year-to-date trends in Africa’s fundraising
Team favourite, The Big Deal, shared a year-to-date tracker of key trends in funding on Africa’s start-up scene. We all know that funding in Africa has slowed since 2022’s dramatic boom, but deal quality and regional diversification are actually improving. Fintech remains dominant, but climate tech, logistics, and agritech are attracting more and more investment. The growing role of debt financing stands out, with USD 935 million worth of debt raised so far on the continent – perhaps on course to beat 2023’s record USD 1.1 billion in debt raised.
Seeing beyond old biases to invest in the future
In a recent Financial Investigator article, Iris Lijkendijk argues (in Dutch) that “diversifying without Africa isn’t truly diversifying.” Many institutional investors still overlook the continent, influenced by cognitive and ethnocentric biases to view investment in Africa as risk-heavy. When these perceptions go unchallenged, Africa’s long-term potential can be missed, and backward-looking credit ratings cap opportunities.
Lijkendijk’s message is clear: relying on outdated benchmarks and ideas means missing out on returns and relevance. A forward-looking approach based on demographic trends, climate resilience, and structural transformation is fairer to African entrepreneurs and smarter for international portfolios.