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Nigerian micro-investment portal Trove nets new funding, from angel networks

Nigerian micro-investment platform Trove has secured further funding, this time from three local angel networks. Trove’s app enables users to invest in bonds and stocks in Nigeria and in the US. The startup was founded in 2018 by Oluwatomi Solanke, Opeyemi Olanipekun, Osita Akagu and Desayo Aisegiri. Trove secured its latest investment from Lagos Angel Network (LAN), SSE Angel Network (SSEAN), and Diaspora Angel Network (DAN), tech publication Disrupt Africa reported in an article earlier this month. Nigerian startup Trove’s app enables users to invest in bonds and stocks in Nigeria and in the US It comes after the startup announced in May last year that it had received an investment from Ventures Platform to scale its operations...

SA startup SmartWage raises R6m to expand payday solution

Johannesburg based startup SmartWage has raised a R6-million investment to help it to grow its solution that allows companies to give employees instant access to their earned salaries and wages. It follows the announcement on Monday (22 June) that former Springbok Bryan Habana’s fintech Paymenow had landed a R4-million investment from ViaMedia for its app that allows employees early access to already earned wages. SmartWage’s fundraise was led by Chris Lister-James from Johannesburg-based seed investor FiTech Ventures which has previously invested in other SA fintech startups like Franc, uKheshe and Payflex. SmartWage was founded in November 2019 by Nick, Alex Platt and Simon Ellis The investment, agreed earlier this week, comes in the form of a Simple...

Made In Africa Inc. Gets $190 Million to Acquire Vlisco Group

Made In Africa Inc. has received $190 Million term sheet facility from the African Export-Import Bank (Afriexim Bank) to finance the company’s acquisition of African Fabric Holdings BV, Netherlands, also known as Vlisco Group. The facility, broken into two tranches, will also be used to provide working capital to Vlisco group following the acquisition. Kanayo Awani, Managing Director of Afreximbank’s Intra-African Trade Initiative, signed on behalf of the Bank while Kojo Annan, Chairman and Founder of MIA, signed for the company during a ceremony held on the sidelines of the Creative Africa Exchange Weekend (CAX WKND) taking place in Kigali. Other related articles: Kenya Catalytic Jobs Fund Vlisco Group...