Startup Green Africa Airways secures investment

Nigerian startup Green Africa Airways has completed its initial financing push in partnership with pan-African investment manager Kuramo Capital, and has begun negotiations for its future fleet. The so-called Series A financing marks Green Africa Airways’ first major institutional round of financing. Green Africa Airways founder and CEO Babawande Afolabi declined to comment on the exact sum that has been raised, but he said Series A requires a “a mission-driven investor” that believes in the market opportunity and return on investment potential. “Series A funding, in many cases, is the toughest round for any new company to raise,” Afolabi said. “We are extremely fortunate that Kuramo Capital is backing Green Africa Airways with this pivotal round of financing.” Lagos-based Green Africa Airways describes itself as a “value airline,” which aims to offer affordable air travel. The startup has already secured its air transport license and has started work toward its air operator’s certificate.<br/>