Debt Financing in Africa | RO Events

For much of the past decade, conversations about startup financing in Africa have been dominated by equity. Debt was largely associated with commercial banks, development finance institutions and established SMEs, while venture-backed startups relied almost exclusively on equity to fund growth.

We have seen that picture changing and in 2025, debt accounted for 41% of all startup funding on the continent (the highest share on record) as more founders and investors embrace financing structures beyond equity. But despite its growing role, debt still remains one of the least understood parts of Africa's capital stack. Behind every debt deal are months of conversations, trade-offs and decisions that rarely make it into funding announcements.

This session brings together two people who have lived that reality from opposite sides of the table:

Céleste Vogel, CEO and Founder of eWAKA Mobility, has navigated multiple forms of debt financing to scale one of East Africa's leading electric mobility companies.

Kenneth Muchina, Senior Vice President, East Africa at Talanton, has spent years deploying debt into East Africa's "missing middle" businesses that are too risky for commercial banks yet too small for many institutional lenders.

Together, they'll share what it actually takes to get a debt deal done: how lenders assess risk, what founders have to build before they're ready for debt, how challenges like currency mismatch shape financing decisions, and what both sides wish the other understood.

Who should attend?

Investors, lenders and finance professionals looking to better understand the opportunities and realities of deploying debt capital across African markets.

Founders considering debt as an alternative or complement to equity.

Fund managers exploring venture debt, growth debt and other forms of non-dilutive capital.

Ecosystem builders interested in expanding the financing options available to African businesses.

Hosted by The Realistic Optimist , this is an intimate discussion designed for people who want to understand how debt financing actually works in Africa from the perspectives of the people making the decisions. Expect practical insights, candid stories and honest conversations that rarely happen in public.

Please note: Attendance is intentionally limited to ensure meaningful discussion and high-quality connections. As a result, registrations are subject to review.