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Daily Digest Thur, Apr. 23, 2020

Africa Netpreneur Prize Initiative (ANPI) is still searching for Africa’s business heroes 2020

This year the Jack Ma Foundation announced it officially launched the second edition of the “Africa’s Business Heroes” (ABH) prize competition with applications now open to African entrepreneurs from all 54 African countries, as well as every sector, age group, and gender. Applications will also now be available in both French and English. Read more….

Funding in Southern Africa

Small businesses to benefit from UIF support, tax relief and funding through Ramaphosa’s R500bn package

The measures targeting small businesses that were outlined by Ramaphosa include: A R200-billion loan guarantee scheme which will be introduced in partnership with the major banks, the National Treasury and the SA Reserve Bank. This will assist enterprises with operational costs, such as salaries, rent and the payment of suppliers. Initially companies with an annual turnover of less than R300-million a year will be eligible.

Funding in West Africa

Zenithe Afrik triples share capital, becomes Sonam Vie SA Cameroun

Senegalese insurer Sonam, which was authorized to operate in Cameroon since December 2017, informs that its merger with the Cameroonian Zenithe Afrik Assurances Vie has led to some changes. Read more…..

Nigerian media startup, Stears raises $600k seed to build Africa’s Bloomberg

Stears, a digital media and information startup known for providing access to high-quality information in Nigeria, has raised a seed investment of $600,000. Read more….

Reservoir Capital Corp finalizes acquisition of Olocorp Nigeria for $3mln

(Ecofin Agency) – Reservoir Capital Corp, which has energy assets in emerging markets, completed the acquisition of Olocorp Nigeria Ltd, a Nigeria-based company whose business is to acquire shares in North-South Power. Read more….

Funding in East Africa

Ugandan investtech startup XENO raises $150k pre-seed funding round

Ugandan online investment advisory startup XENO has raised a US$150,000 pre-seed funding round to power its continued growth. Read more…

Get Funded Africa is a technology-based, business information platform operated by Afriscaper Research & Consulting Limited with a mission to reduce barriers to funding for African businesses. GFA matches investor ready, African & African-Diaspora owned companies with global investors, leveraging market research, industry data and news aggregation

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If you would want to get in touch with our team to discuss about funding for your project or business. Send us an email – mary@getfundedafrica.com.

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