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Daily Digest Wednesday, 10 June 2020

Funding In Southern Africa

Sun Exchange secures $3m investment, closes $4m round

SA blockchain-based solar panel micro-leasing marketplace Sun Exchange has raised a $3-million (R50-million) investment from ARPF, a Mauritian private equity fund which is advised by London-based Arch Emerging Markets Partners. The investment marks the close of a R67-million ($4-million) Series-A funding round, Sun Exchange said in a statement. Read More

Funding In North Africa

Morocco invests €5mln to build a bridge on the Rabat-Casablanca highway

The government of Morocco is constructing a bridge linking the city of Temara to the Rabat-Casablanca highway. The investment of MAD50 million (€4.6 million) is aimed at improving traffic flow on this 86 km corridor, which has a high traffic volume of 65,000 vehicles per day, with peaks of 85,000. Read more

Funding In West Africa

Nigerian Startups Max.ng and Releaf Group Secure $200k From Harambe Entrepreneur Alliance

Two Nigerian startups, bike-hailing startup Metro Africa Express (Max.ng) and agritech venture Releaf Group have both secured $200,000 from newly launched Harambeans Prosperity Fund $1 million fund. Harambe Entrepreneur Alliance launched the fund to support its African portfolio companies affected by the economic challenges of the Covid-19 pandemic. Read more

Funding In East Africa

Mastercard Foundation Launches $24.8 million Facility To Support Startups And SMEs in Ethiopia

Startups, small and medium scale businesses in Ethiopia have a new support from Mastercard Foundation. The Jobs Creation Commission of Ethiopia, the Mastercard Foundation and First Consult have announced the creation of the Mastercard Foundation MSE’s Resilience Facility. This is an emergency program that will support micro and small-sized enterprises (MSEs) and start-ups in Ethiopia during the economic downturn caused by the COVID-19 pandemic. Read more

Funding In Other Emerging Markets

Syarah closes its Bridge to B round investment, with participation from Impact46

Syarah, a platform for buying and selling cars in KSA has closed its B round of investment, with participation from Impact46 and an angel investor. The amount is undisclosed. This news comes over one year after they raised their Bridge round in March 2019. Read more

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GetFundedAfrica 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

Check out our weekend Feature: GFA’s Business Journey: Pitching To Win

Are you an entrepreneur? Share your story with us and get featured on our platform send us an email nichole@getfundedafrica.com

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