This Week in StartupGhana #35: GBHub Africa makes first bet from its $10 million seed fund | E-levy scrapped | Kola Scale launched  

Hello guys,

After a short one-month hiatus, This Week in StartupGhana is back in your inbox—refreshed and recharged. The Ghanaian startup ecosystem didn’t slow down in our absence, and we’re here to catch you up on the biggest moves shaping the landscape.

This week’s top stories:

• GBHub Africa bets on Greenheart SE to decarbonize agriculture production.
• FMCG giant GB Foods taps Innohub’s Nelson Amo to lead GBHub Africa, its $10 million social impact vehicle.
• Kola Market launches Kola Scale, an AI-powered go-to-market solution for SMEs.
• Sahara Impact Ventures’ Yvonne Ofosu-Appiah appointed to the board of CalBank.
• GrowForMe Funding Services partners with Fincap Securities to help SMEs raise capital on its crowdfunding platform.
• Ex-mPharma CFO Nana Dufie Addo launches new wealth planning fintech “Celerey”.
• The controversial electronic levy has finally been scrapped.
• Michael Abbey appointed as CEO of the Venture Capital Trust Fund.

Funding

GBHub Africa bets on Greenheart SE to decarbonize agriculture production.

GB Foods’ social impact arm, GBHub Africa, has invested $50,000 in GreenHeart SE, an agritech company that transforms organic biomass waste into carbon-negative agricultural inputs. The investment, structured as a local currency loan with a 5% interest rate in Ghanaian cedis, includes a six-month moratorium and a 60-month repayment period. The funding will enable GreenHeart SE to expand its biomass recycling capacity from 300 to 1,000 tonnes, helping the company avoid 1,000 tonnes of CO₂ emissions while advancing sustainable agricultural practices.

Beyond financial support, GBHub Africa will provide technical assistance, working closely with GreenHeart SE to design a value creation plan and offer targeted support in key operational areas.

Talent

Michael Abbey appointed as CEO of the Venture Capital Trust Fund.

President John Dramani Mahama has appointed Michael Abbey as the Acting Chief Executive Officer of the Venture Capital Trust Fund (VCTF). Abbey is expected to strengthen the Fund’s operations as it continues to promote investment and provide financial support to SMEs. He brings a strong background in legal affairs, international investment law, and policy advocacy, having worked extensively with Friedrich-Ebert-Stiftung Ghana on economic governance and development.

Sahara Impact Ventures’ Yvonne Ofosu-Appiah appointed to the board of CalBank.

CalBank PLC has appointed Yvonne Ofosu-Appiah, co-founder of Sahara Impact Ventures, to its Board of Directors. With 17 years of experience in venture capital, private equity, and sustainability-focused financial strategies, Ofosu-Appiah brings a wealth of expertise in long-term investments and corporate governance. Her appointment is part of a broader board reshuffle to drive sustainable growth and innovation within the bank.

Product launches & partnerships

Kola Market launches Kola Scale, an AI-powered go-to-market solution for SMEs.

Kola Market has launched KolaScale, an AI-powered go-to-market solution designed to help SMEs scale more efficiently. Powered by KolaAI, a smart business assistant accessible via WhatsApp, the platform helps SMEs make data-driven decisions on pricing, inventory planning, marketing, and sales strategies. KolaScale also offers tools to accelerate sales through live selling channels, optimize inventory to reduce waste, and provide ongoing business support through expert teams and AI insights. In addition, it connects SMEs to product and asset financing through trusted financial partners.

GrowForMe Funding Services partners with Fincap Securities to help SMEs raise capital on its crowdfunding platform.

GrowForMe Fundraising Services has partnered with Fincap Securities, an investment firm, to support Ghanaian SMEs in raising capital through investment crowdfunding. This collaboration aims to bridge the financing gap for MSMEs by offering access to funds from retail investors via GrowForMe’s digital platforms, including MTN Mobile Money and its online portal. SMEs will receive tailored financial advisory services such as pitch deck preparation, valuations, and investment readiness support. By combining GrowForMe’s crowdfunding expertise with Fincap’s investment advisory capabilities, the partnership seeks to unlock growth opportunities and promote sustainable business expansion across various sectors.

Ex-mPharma CFO Nana Dufie Addo launches new wealth planning fintech “Celerey”.

Nana Dufie Addo, the former chief financial officer of mPharma, has announced the launch of her new venture, Celerey. This AI-powered wealth planning platform provides personalized advice and on-demand consultations with accredited finance experts to help individuals make informed financial decisions.

Founded and led by two seasoned finance professionals—Jude Addo (CEO) and Nana-Dufie Addo (COO)—the platform aims to democratize wealth planning by making expert financial guidance and tools not a luxury for a few, but an accessible choice for everyone.

Policy

The controversial electronic levy has finally been scrapped.

Ghana’s most controversial and arguably most hated tax—the electronic levy (e-levy)—has finally been scrapped. Introduced in 2022, the e-levy taxed mobile money and other electronic transactions, drawing widespread backlash from citizens, fintech players, and civil society for its impact on financial inclusion and digital payments. Its removal marks a significant policy shift and is expected to bring relief to consumers and businesses alike, potentially accelerating digital transactions.