🔴LIVE at #AVCA2026 “#Local capital is critical, but it must be intentional and supported to actually reach the businesses that need it. We cannot build #sustainable ecosystems if capital continues to bypass local opportunities.” Nyeji Mhango

🎙️#AVCA2026 Hot Topic | From Frontier to Forefront: Are #FrontierMarkets Ready for Take-Off? | Sponsor: Soros Economic Development Fund Join the conversation by booking your place at #AVCA2026 in #Nairobi next week! View the agenda: avcaconference.com/avca-2026… @OpenSociety @wCapZM

𝗙𝗢𝗥 𝗜𝗠𝗠𝗘𝗗𝗜𝗔𝗧𝗘 𝗥𝗘𝗟𝗘𝗔𝗦𝗘 𝗪𝗖𝗔𝗣 𝗕𝗔𝗖𝗞𝗦 𝗭𝗔𝗠𝗕𝗜𝗔𝗡 𝗛𝗢𝗠𝗘 𝗟𝗢𝗔𝗡𝗦 𝗧𝗢 𝗘𝗫𝗣𝗔𝗡𝗗 𝗚𝗥𝗘𝗘𝗡 𝗛𝗢𝗨𝗦𝗜𝗡𝗚 𝗙𝗜𝗡𝗔𝗡𝗖𝗘 𝗜𝗡 𝗭𝗔𝗠𝗕𝗜𝗔 𝗟𝘂𝘀𝗮𝗸𝗮, 𝗭𝗮𝗺𝗯𝗶𝗮 𝟭𝟬𝘁𝗵 𝗔𝗽𝗿𝗶𝗹 𝟮𝟬𝟮𝟲 wCap Limited has completed an investment in Zambian Home Loans, a Zambian housing finance company providing accessible and affordable mortgage and home loan solutions to individuals and families across the country. The investment provides growth capital to support the expansion of Zambian Home Loans' lending operations, with a deliberate focus on financing sustainable and green housing. The transaction reflects wCap's strategy of deploying structured medium-term private credit solutions into capital-efficient businesses operating in underserved, high- impact sectors across Southern Africa. Zambian Home Loans operates in a sector central to economic empowerment, wealth creation, and environmentalsustainability. Access to reliable home financing remains a limited in the Zambian market, with the majority of the population unable to access conventional mortgage products. This investment will strengthen Company’s ability to grow its loan book, with a focus on properties built to sustainable construction standards, including energy-efficient designs, environmentally responsible materials, and low-carbon building practices. The company's products are designed to meet the needs of employed individuals and small business owners seeking a structured and transparent pathway to home ownership, delivering not only affordability, but long-term sustainability. “This investment is a significant milestone for Zambian Home Loans and the communities we serve. Access to home financing has long been out of reach for many Zambians, and this partnership with wCap gives us the capital and confidence to change that. We are particularly proud of our commitment to sustainable construction, ensuring that the homes we help finance are not only affordable, but are built with the environment and future generations in mind. We look forward to expanding our reach and helping more Zambian families to achieve responsible home ownership."said Mrs. Nfwama Chisola Mfula, Chief Executive Officer of Zambian Home Loans. The Partners at wCap stated, "Our investment in Zambian Home Loans reflects our commitment to supporting businesses that address critical gaps in financial access while advancing sustainable development. Housing is a fundamental driver of household wealth and economic stability, and green construction represents the future of responsible urban development on the continent. We provide structured private credit aligned to cash-flow realities, enabling businesses to scale sustainably. We are pleased to partner with a Company that combines strong fundamentals with a compelling impact proposition." 𝗔𝗯𝗼𝘂𝘁 𝘄𝗖𝗮𝗽 wCap Limited is a Zambian-based Investment Management Firm that provides structured financing solutions to early-stage, high-growth businesses in Zambia and Southern Africa. The firm specialises in deploying medium-term facilities aligned to business cash-flow cycles in sectors that contribute to economic resilience, inclusive growth, and sustainable development. wCap is regulated by the Securities and Exchange Commission of Zambia.

Happy International Women’s Day! When women entrepreneurs gain access to capital and opportunity, communities thrive. At wCap, we believe investing in women is one of the smartest ways to drive growth and lasting impact. #IWD2026 #GiveToGain #InvestInWomen #WomenInBusiness

𝐅𝐨𝐫𝐞 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐑𝐞𝐥𝐞𝐚𝐬𝐞 𝐖𝐂𝐀𝐏 𝐋𝐈𝐌𝐈𝐓𝐄𝐃 𝐄𝐗𝐄𝐂𝐔𝐓𝐄𝐒 𝐀𝐍 𝐈𝐍𝐕𝐄𝐒𝐓𝐌𝐄𝐍𝐓 𝐈𝐍 𝐃𝐄𝐋𝐈𝐂𝐈𝐎𝐔𝐒 𝐌𝐈𝐋𝐋𝐈𝐍𝐆 𝐋𝐈𝐌𝐈𝐓𝐄𝐃 Lusaka, Zambia 13th February 2026 wCap Limited has completed an investment in Delicious milling ltd, a Zambian FMCG agro-processing company operating a maize milling facility supplying staple foods across the country. The facility will provide growth capital to support operational expansion, and increased production capacity. The transaction reflects wCap’s strategy of providing structured medium-term private credit solutions to capital-efficient businesses operating in underserved, high-impact sectors across Southern Africa. Delicious Milling operates in a sector critical to food security, local value addition, and economic resilience. The investment will strengthen its maize procurement capacity and enhance operational stability. The business produces and distributes staple maize-based milling products to major national retail chains, independent high-density retailers, and district-level bulk distributors across the country and selected countries in the region. Through its network of farmers and aggregators, the company contributes to rural incomes and strengthens Zambia’s agricultural value chain. Its maize brand by-product further supports the livestock feed sector, reinforcing circularity within the food system. “This investment gives us the stability to procure maize efficiently, manage costs better, and maintain consistent supply to our customers,” said Peter Cottan General Manager of Delicious Milling. “In the milling industry, predictable working capital and operational reliability are critical to success.” The Partners at wCap stated, “Our investment in Delicious Milling reflects our commitment to supporting resilient, early-stage businesses operating in essential sectors of the Southern African economy. We provide structured private credit to align with cash-flow realities, enabling businesses to scale responsibly and sustainably. Food processing and agricultural value chains remain fundamental to economic stability, and we are pleased to partner with a business that demonstrates operational efficiency and compelling growth fundamentals.” 𝐀𝐛𝐨𝐮𝐭 𝐰𝐂𝐚𝐩 @wCapZM Limited is Zambian based Investment Management Firm that provides structured financing solutions to early-stage, high growth businesses in Zambia and Southern Africa. The firm specialises in deploying medium-term facilities aligned to business cash-flow cycles in sectors that contribute to economic resilience and inclusive growth. wCap is regulated by the Securities and Exchange Commission of Zambia. This announcement is provided for information purposes only and does not constitute an offer to sell, or a solicitation of an offer to subscribe for or purchase, any securities or investment products in any jurisdiction.

Wishing our partners, investors, and community a joyful and restful Christmas season. Thank you for being part of our journey this year. We look forward to building together in the year ahead. Merry Christmas from the wCap team. #MerryChristmas #wCap #SustainableFinance

Year-End Note As we close out 2025, we thank our investors and partners for their continued trust. Office closed: 19 Dec 2025 – 12 Jan 2026 We look forward to building further momentum in 2026. Happy Holidays! #PrivateCredit #SustainableFinance #AlternativeInvestments

👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽

The Role of Venture Capital in Zambia’s Economic Boom 🇿🇲💡 VC is fueling innovation, job creation, and economic growth in Zambia. How can investors and entrepreneurs leverage this momentum? Read more here: bit.ly/4in88qq #VentureCapital #Zambia #Investing

wCap is committed to driving change by investing in women. Together, let us #AccelerateAction towards a more equitable and inclusive world. #IWD2025 #AccelerateAction #wCapForWomen #WomenInLeadership #ImpactInvesting #GenderEquality #WomenEntrepreneurs

As we close for the festive season, from 16th Dec 2024 to 6th Jan 2025, we take this opportunity to wish our clients, partners and investors a joyous holiday season and a prosperous new year. May it be filled with health, happiness, and continued success for all.

wCap attended Super Return Africa 2024 (Investor Week) and the 2X GP Sprint in Cape Town, SA. Key take away: 1. As opportunities continue to expand, so does the demand for fund managers and alternative asset classes in the ecosystem. 2. Collaboration is key for long-term growth.

Exciting News! wCap has invested US$250,000 in Zanga African Metrics, an HR data & leadership development innovator. This partnership aims to transform recruitment, succession planning & retention through data-driven solutions. Read more: bit.ly/4fEudzl #HRAnalytics

Our Principal Martina Phiri had the opportunity to speak at the ITS-ZED Summit where she discussed the dynamics of scaling Zambian tech startups regionally and globally. It was a great session full of actionable insights and strategies. Thank you Dr C. Kasase #InnovationSummit

Happening Now! Catch Martina Phiri, Principal at wCap, speak on impact investing in Zambia at this year's Innovation and Technology Summit in Lusaka. #Impactinvesting #earlystageinvesting #ITS-ZED #wCap

Last month the team at wCap and 9 other fund management teams in Africa participated in a 3 day retreat on gender lens investing in Nairobi. @africagrowthfnd hosted the event. Yvonne Mpala, General Partner, wCap shared some insights on our GLI process. #genderlensinvesting #MastercardAfricaGrowthFund #investinginafrica #wCap

This week, Martina Jane Phiri- Principal at wCap had the privilege of participating in the 2025 National Budget Analysis & panel discussion hosted by Ernst& Young Zambia. Key themes discussed: the energy sector,financial sector growth & PPPs.

We are thrilled to announce our investment in Luano Food Company, a fast growing agro-processing business in Zambia. Read more below. #earlystageinvesting #investmentmanagement #wCap #LuanoFoods #climateimpact

🎉Applications are now OPEN! ATG Samata is calling on women-led & gender-diverse teams in Ghana, Kenya, Nigeria, Mozambique, Uganda & Zambia with scalable, post-revenue businesses to submit their applications! Details 👉 wkf.ms/4b8zk8c Deadline 👉30th June 2024

This month, wCap launched the Women in Business Investor Readiness Programme. We are elated to embark on this journey with our participants. Congratulations to all that made it. Grateful to the Time Tide Foundation for making this possible. #WIB2024 #Time&TideFoundation