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Author: Adebola Omololu

IFC, Proparco Invest $100m Into Humania For Investments In Healthcare In Egypt and Morocco

The IFC, a member of the World Bank group, the IFU, the Danish Investment Fund for developing countries, and PROPARCO, a subsidiary for the private sector of the French Development Agency (AFD) group, have made a capital investment of $ 108.5 million in Humania North Africa (Humania), a platform of private hospitals, helping to improve medical care in Egypt and Morocco.  Here Is What You Need To Know The investment envelope includes a contribution of $ 45 million for the IFC and $ 63.5 million mobilized from the IFU up to $ 43.5 million on behalf of the Danish investment fund SDG, and $ 20 million for PROPARCO.The financial...

Webinar : Launch of the East Africa Regional Economic Outlook

The East African Regional Office of the African Development Bank will launch the 2020 Regional Economic Outlook virtually on Wednesday, 8 July 2020, at 14:30 East Africa Time. The report is part of the Bank’s flagship African Economic Outlook publication. The theme of the East Africa Regional Economic Outlook 2020 is Developing East Africa’s Workforce for the Future, which aligns with the Bank’s High 5 priority areas. This report discusses the impact of COVID-19 on the region’s economic outlook, its economic performance and implications for poverty reduction and job creation. The Outlook proposes multiple policy interventions to mitigate the socio-economic impact of COVID-19 on the region, and to harness growth...

Nigeria launches $2.9b gas pipeline project

Nigeria has flagged off the construction of its $2.8 billion first phase of natural gas pipeline project to supply gas to three electricity power stations and later to North Africa. The 614 kilometres Ajaokuta-Kaduna-Kano (AKK) project will be done on a build-and-transfer Public-Private Partnership (PPP) basis.According to President Muhammadu Buhari, the Trans-Nigeria Gas Pipeline project—traversing the states of Kogi, Niger, Federal Capital Territory (FCT), Kaduna and Kano states—is dear to the people and "it must succeed." When completed, the pipeline is expected to transport 3,500 million metric standard cubic feet per day of dehydrated gas from several gas gathering projects located in southern Nigeria. The construction of the...

Access Bank W Initiative Womenpreneur Pitch-a-ton Africa 2020 (Win Mini MBA & a grant of N5 million)

Deadline: August 14, 2020 Are you a woman who owns and runs her business? Is your business innovative? Do you need a grant to expand your business? What about some expert training to help grow your business? Apply now for the Womenpreneur Pitch-a-ton Africa 2020. The Womenpreneur Pitch-a-ton Africa 2020 Campaign is designed to provide female owned businesses across Africa an opportunity to access to finance and world-class business trainings as well as mentoring opportunities. This programme has been designed to create an enabling environment for female entrepreneurs to grow their businesses. Benefits The Womenpreneur Pitch-a-ton Africa 2020 will provide up to N9 million financial grant and a unique...

MASTERCARD ACQUIRES TECHNOLOGY FIRM FINICITY IN A $825 MILLION DEAL

Mastercard Inc. is taking a major step away from traditional card payments with the acquisition of technology firm Finicity in a deal worth $825 million. The deal will give Mastercard more resources that help banks hasten credit decisions or enhance account verification processes, using Finicity technology that lets companies share consumers’ financial data. Mastercard President Michael Miebach said in a statement on  Tuesday said, “Finicity has a proven business, built on partnerships with thousands of banks and fintechs, similar to us. “Finicity also shares our commitment to consumer-centric data practices, ensuring consumers have a say in how and where their information should be used.” Mastercard’s efforts to take swerve...

HAVAÍC invests in Mobiz

HAVAÍC, a Cape Town based venture capital investment firm, has invested in Mobiz, a South African mobile marketing platform. HAVAÍC joins Kalon Venture Partners as shareholders in Mobiz. The recent capital raise was to fund the company’s growth and restructure some of the shareholding. Founded in 2014 by Greg Chen and Clark Lin, to date Mobiz has seen impressive growth and their client base includes a number of JSE-listed companies. In recent months, the company has seen further growth in times when marketing budgets are shifting strongly in favour of digital and mobile outlets. Read other investments by HAVAÍC: Kenyan Micro- Retail Startup Tanda lands seed investment from HAVAIC Mobiz...

Daily Digest Wednesday, 24 June 2020

Funding In Southern Africa Zimbabwe’s Centragrid to Scale Up Solar Output Zimbabwean solar power company Centragrid plans to increase generation capacity to 25 megawatts (MW) by October 2021, helping the country chip away at a huge electricity deficit that has hurt mines and kept households in the dark for hours. Read more Funding In West Africa Atlanta Solar Firm Connects More Villages to ‘Mini-Grids’ in Nigeria, Kenya Atlanta-based Renewvia Energy Corp. has taken new steps toward its dream of bringing solar energy to off-grid communities in Africa, building a scalable business in the process. Read more Funding In North Africa Egypt’s Sakneen gets Y Combinator’s backing for its online real estate platform Cairo-based online real estate platform...

Egypt’s Sakneen gets Y Combinator’s backing for its online real estate platform

Cairo-based online real estate platform Sakneen announced today that it has been backed by Y Combinator. The startup was part of Y Combinator’s Winter 2020 batch that graduated earlier this year with a virtual demo day. It has raised $150,000 from Y Combinator as part of joining the program. Breadfast and Trella are the two other Egyptian startups that have recently graduated from Y Combinator. Both of them were part of YC S19. (Sakneen is one of those startups that had decided to present at YC’s next demo day and that is why they were missing from the coverage of YC’s W20 batch on MENAbytes and media outlets). Founded in late...

C. Moore Media (CMM) launches The Future is Female Mentorship Program

Deadline: 29 June 2020 C. Moore Media (CMM) is excited to launch The Future is Female Mentorship Program. The program is a Public Relations (PR) and communications mentorship program dedicated exclusively to the business development needs of African Tech female founders. C. Moore Media (CMM) has launched The Future is Female Mentorship Program to provide the underserved market of African female founders of early-stage start-ups with the PR and communications insights, knowledge, and skills needed to gain more visibility and grow their business. The program is aimed at African women based on the continent or in the Diaspora, and are launching or growing a tech business for African markets or serving...

Private LTE communications empowering North Sea wind farm

Have you considered the impact to your offshore wind farm construction schedule and worker safety if today’s mobile radio voice communications were augmented with broadband video and data capabilities – so workers can better communicate together, with the vessel, remote operations centre and at port? Have you considered how broadband wireless might be leveraged by workers performing maintenance as well as to provide real-time remote turbine monitoring and control? Download GetFundedAfrica’s e-Guide to fundraising for start-ups Here With wind farms being constructed further from shore using larger crews and growing data needs, it’s the right time to consider broadband wireless communications to optimise cost, provide a foundation...