Silverbacks Holdings and ImpactHER have announced a joint investment in two African-founded fashion companies, Vanhu Vamwe and The Rad Black Kids, following their recent participation in Afreximbank’s Creative Africa Nexus (CANEX) platform. The deal underscores growing investor confidence in Africa’s creative industries, particularly fashion, which continues to attract global recognition for its blend of cultural heritage and modern scalability. Both brands are already established as profitable, foreign-currency-earning businesses with international reach.
Vanhu Vamwe: Luxury with Heritage
Vanhu Vamwe, co-founded by Zimbabwean-born designers Pam Samasuwo-Nyawiri and Simba Nyawiri, has built a reputation as a sustainable luxury brand marrying bold storytelling with artisanal craftsmanship. The label engages over 150 artisans and distributes through 48 stockists across Africa, the US, UK, and Asia, with placements on platforms such as Net-A-Porter, Nordstrom, Neiman Marcus, and Selfridges. The company, operating exclusively in euros and dollars, has demonstrated strong profitability while receiving purchase orders from leading fashion groups like Etoile and Vakko.
The Rad Black Kids: Streetwear with Diaspora Roots
The Rad Black Kids, founded by Zimbabwean-born designer Thulani Ngazimbi, infuses Zimbabwean street culture into a global lifestyle brand. Its products have reached consumers through major retailers including Amazon’s BOP LLC, Macy’s, PACSUN, and Gotham, showcasing its crossover appeal. With operations in U.S. dollars and a proven track record of profitability, the brand illustrates how diaspora narratives can scale into international streetwear.
Founders’ Perspectives
Dr. Pam Samasuwo-Nyawiri emphasized the importance of honoring African heritage through luxury design, noting that the investment will allow the brand to expand into new markets while staying true to its values. She described the partnership with Silverbacks and ImpactHER via CANEX as a milestone that elevates the brand’s mission. Ngazimbi similarly highlighted the role of storytelling, explaining that The Rad Black Kids is amplifying Zimbabwean narratives on a global stage with the support of the new investors.
Role of CANEX in Fashion Investment
The CANEX platform, launched by Afreximbank in 2020, aims to finance and showcase Africa’s creative economy, spanning sectors from fashion to music, film, and art. At CANEX WKND 2024, Vanhu Vamwe secured first place while The Rad Black Kids placed third during pitch sessions, gaining visibility that directly led to investor interest. The event also saw Silverbacks and ImpactHER join a group of angel investors committing $350,000 to early-stage creative ventures, strengthening the pipeline of Africa’s creative entrepreneurs.
Investor Commitment to African Creativity
Efe Ukala, President and Founder of ImpactHER, stressed that the investments highlight Africa’s global excellence in fashion while ensuring women entrepreneurs remain central to scaling export-ready brands. For Silverbacks Holdings, these deals represent their second and third investments in the fashion sector, following a previous stake in Armando Cabral. Ibrahim Sagna, Executive Chairman of Silverbacks, said the decision reflects confidence in African creativity’s ability to deliver profitable products while benefiting from strong international distribution networks.
Silverbacks’ Broader Portfolio
Silverbacks Holdings continues to focus on globally competitive African companies, emphasising scalable growth and international expansion. In recent months, the firm has executed partial exits in Nigeria and Egypt, generating returns of 10.7x MOIC and 9.7x MOIC, respectively, with IRRs above 80 per cent. Its wider portfolio spans fintech, sports, and entertainment, including investments in Moove, Wave, Flutterwave, Cape Town Tigers, Forever7 Entertainment, and African Warriors Fighting Championship.
The joint investment in Vanhu Vamwe and The Rad Black Kids reinforces the growing potential of Africa’s creative industries as engines of global cultural and economic influence. By aligning heritage-based storytelling with scalable business models, both brands are positioning themselves as leaders in sustainable luxury and streetwear with African roots. With the backing of Silverbacks Holdings, ImpactHER, and Afreximbank’s CANEX platform, African fashion is carving out a stronger presence on the international stage.