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LabEight* Ventures Launches “LabEight* Africa”

LabEight* Ventures, a Canadian Venture Initiative, launched LabEight* Africa to operate out of Lagos, Nigeria in July 2020 as an innovative financial product designed to capture value missed by existing financial products, and bring together an ethos of operationally focused venture capital investing. We focus on tech and tech-enabled startups with a social impact approach.  Managing Partner Jason D. Salvagni strongly believes there couldn’t have been a better time to Launch LabEight* Africa. In his words “With all the turmoil in the world at present, LabEight* Africa’s mission is now more important than ever. Our commitment to raising up African entrepreneurs – in Africa – to benefit Africa; Our commitment...

Huawei Plans A $60mln+ Technology Park In Angola

Chinese tech giant Huawei announced an investment of more than $60 million in a technology park in Angola. The announcement was made by Chu Xiaoxin, MD of Huawei Angola, after a meeting with Angolan Vice President Bornito de Sousa on August 27. Huawei said the new facility will be dedicated to training and knowledge sharing in the areas of new technologies. It will be built in the Talatona district in Luanda, the Capital. Inauguration and commissioning are expected for December 2021. READ SwedFund Commits $12M In Set Fund To Boost Renewable Energy Projects In Africa The tech park will have three centers for training Angolan engineers, creating new technologies,...

Your Startup Is a Movement

During this campaign season, many of us are reflecting on how change is created and political movements take hold. There is an analogue between grassroots politics and startup evangelism. The best founders talk eloquently about their mission and the change they want to make in the world. They speak about something larger than dollars and cents. They articulate a vision of the future that attracts adherents. They create a movement. If you want to understand how Tesla can become the most valuable car company in the world without needing to spend a dime on advertising, while its competitors futilely buy Superbowl ads, or why 170,000 people...

Is Africa Heading Towards A Cashless Society?

Cash may have traditionally been king, but Covid-19 has contributed to a faster pace of digital payment adoption. Recently on AlphaCode’s monthly Industry Insights webinar, two global fintech players discussed the emergence of a plethora of digital payments and debated if cash is on its way out. Omosalewa Adeyemi, Head of Global Partnerships and Expansion at Flutterwave (a technology company that helps businesses in Africa and across the world send and receive payments) and Nicolas Vonthron, co-CEO of Mama Money (a rapidly growing international payment operator using mobile technology to reach new markets and underserved communities with a key focus on financial inclusion and social upliftment); explored the future of payments and...

How Leading B2B Companies Invest In Innovation

It was American investor Warren Buffett who said, “We continue to make more money when snoring than when active.”  This line of thought is not lost on many other financial experts who also favor long-term investments and believe “market timing” does not actually yield results and can be stressful, time-consuming, and risky.  In fact, the strategy of long-term investments in the financial market can easily be applied to a B2B organization’s approach to investing in business innovation.  Consider a 401(k)-retirement savings plan. Ongoing, predictable contributions to a 401(k) account throughout an individual’s career aims to build a long-term, guaranteed path to a comfortable retirement. Likewise, continuous developments and...

SMEGO Launches Platform To Enable Small Businesses Raise Funds In South Africa

South African Fintech startup SMEgo has launched a platform that will make business funding and grants easily accessible to founders and small business owners. According to SMEgo, the platform will “radically simplify and streamline the SMME funding application process for both SMMEs and funders.” A spokesperson for SMEgo, Rowan Spazzoli said, “Finding support in the form of funding needs to be simplified to get SMMEs back on their feet. Running a business in these times is difficult enough, finding support should not be.” Users accessing the platform will be prompted to complete a questionnaire providing SMEgo with their company particulars. READ Nigeria’s Yellow Card Raises Over $1.5M From Andreessen Horowitz...

SwedFund Commits $12M In Set Fund To Boost Renewable Energy Projects In Africa

Swedfund, the Swedish development finance institution, has committed $12m to SunFunder’s Solar Energy Transformation (SET) Fund.The investment will contribute to increased access to electricity and the increased generation of renewable energy in emerging markets. This takes SET Fund commitments to $60m, with Swedfund joining anchor investors DFC, Calvert Impact Capital, Ceniarth, and IKEA Foundation, among others. The fund’s junior layer has been filled, but there remains $10m available to senior investors. “We are delighted to start this partnership with Swedfund and expand our work with development finance institutions. To solve energy access and climate change we need to match institutional investments at scale with clean energy projects around...

GFA Weekly Round-Up Podcast (August 31- September 4)

In this episode of the GFA weekly round up segment we covered the following: Cape Town-Based CredoLab Raises $7m To Expand Across Africa Read moreEricsson Innovation Awards 2020 looking for innovators supporting climate change Read more Savings App Esusu Raises $2.3M From Acumen Fund & LinkedIn’s Jeff Weiner For US Expansion Read moreEgypt-based food-tech startup secures six-figure seed fundingRead More Nigeria’s Yellow Card Raises Over $1.5M From Andreessen Horowitz To Launch Its Crypto Exchange In Kenya & Cameroon Read moreMONEYGRAM Partners With THUNES To Expand Digital Network And Mobile Wallet Capability Read more Afrofuturistic AKON CITY Underway In Senegal. Read moreMFS AFRICA ANNOUNCES PARTNERSHIP WITH MONEYGRAM Read more https://soundcloud.com/get-fundedafrica/weekly-round-up-september-5 In this episode of...

Savings app Esusu raises $2.3M from Acumen Fund & LinkedIn’s Jeff Weiner for US expansion

Esusu, a fintech startup dismantling barriers to housing, has closed $2.3 million from Acumen Fund, Concrete Rose Capital, Global Good Fund, Impact America Fund, Next Play Ventures, and Zeal Capital Partners for US expansion. The $2.3 million in seed extension bringing total capital raised to $4 million and Esusu will use it to hire exceptional talent to fuel its expansion to one million rental units in the United States. “We are experiencing the greatest public health crisis in a century, the worst economic collapse since the Great Depression and accelerating income inequality. Concomitantly, we are dealing with systemic racism that stifles the promise of America. “At Esusu we have a unique opportunity to challenge...

Nigeria’s Yellow Card Raises Over $1.5M From Andreessen Horowitz To Launch Its Crypto Exchange In Kenya & Cameroon

Yellow Card, a Nigerian-based crypto exchange, has raised over $1.5 million to further expand across Africa and solidify its position as the go-to crypto exchange in Africa. Yellow Card’s CEO Chris Maurice said the 1.5 million was raised from Andreessen Horowitz, Polychain, Celo, and among others. The firm will use the funds to grow its operations in Nigeria, South Africa and Botswana where it launched a few months ago. The firm will also expand availability to users in Kenya and Cameroon from Sept. 1. Founded in 2016 by Chris Maurice and Justin Poiroux as Bitcoin gift card, Yellow Card pivoted to remittance after the founders met a man at a Wells...

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