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How Small Businesses Can Build Employee Engagement [Opinion]

redirected here We celebrate Global Entrepreneurship Week (16 – 22 November) against the backdrop of a year that has been exhausting for small and medium businesses and their people. As entrepreneurs start to think about what comes next, higher productivity and growth are very much on the agenda.  As much as it sounds dry and corporate, employee engagement matters as much for smaller businesses as for large organisations. It’s not to be confused with concepts such as ‘employee satisfaction’ or workplace happiness. Your people can be happy or satisfied without being truly engaged. Read also: Tech Startup Xend Finance Secures US$1.5M, Launches First DeFi Platform Employee engagement goes further –...

Elsewedy Electric Secures US$54M Tenders For Toshka Transformer Substations

EGYPT – Elsewedy Electric Transmission and Distribution has secured two fast track tenders for the Toshka transformer substations, worth just over US$54 million. Ministry of Electricity and Renewable Energy and the Elsewedy Electric for Trading and Distribution signed the contracts which will see the Egyptian Electricity Transmission Company (EETC) construct the Toshka 4 transformer station of the gas-isolated type, under the turnkey system, at a value of EGP 410 million (US$28.21m). Read also: Why Only 14 West African Startups Raised $10m+ From 2010-2020 The first contract includes the construction of overhead transmission lines (OHTL) and the turnkey construction of the 220 KV Double Circuit Toshka 2/Owinat East (in/out) connection to Toshka 4 substation. Approximately 60 km of line will be laid, using ACSR 380/50 mm2 conductors type and shield...

Daily Digest Monday 16 November 2020

Funding In Africa MultiChoice Acquires 20% Stake In BetKing For US$116m DStv packages include live English soccer, while MultiChoice agreed to a deal with Walt Disney earlier this year to add two ESPN channels showing US pursuits such as basketball. Read more Funding In West Africa Tech Startup Xend Finance Secures US$1.5M, Launches First DeFi Platform In addition, Xend has secured a US$1.5 million investment round from Binance Labs, Google Developers Launchpad, AU21 Capital, Ampifi VC, JUN Capital, TRG Capital, and Matic Co-founder, Sandeep Nailwal. Read more Latest News Ibnsina Pharma Secures 75% Stake In Online Marketplace 3elagi Tech The new partnership will promote the growth of 3elagi Tech, accelerate the startup’s digital transformation, and strengthen its digital footprint while providing people access to...

MultiChoice Acquires 20% Stake In BetKing For US$116m

SOUTH AFRICA – MultiChoice Group has expanded its repertoire with an agreement to buy a 20% stake in Africa-focused sports-betting platform BetKing for as much as US$116 million, giving it access to a sector that emerged as a winner from lock down restrictions that have encouraged home-bound entertainment. “Sports betting is an interesting market that is aligned to our pay-TV business,” said MultiChoice CEO Calvo Mawela in an interview. “We have a lot of sport on our platform, and many people that are betting watch more games.” he said. Read also: New Report From Google Says Africa’s Internet Economy Would Be Worth $180 Billion By 2025 DStv packages include live English soccer, while MultiChoice agreed to a deal with Walt Disney...

Ibnsina Pharma Secures 75% Stake In Online Marketplace 3elagi Tech

One of Egypt’s largest pharmaceutical distribution companies, Ibnsina Pharma, has acquired a 75% stake in a portfolio company and a graduate of Falak Startups, 3elagi Tech.  The new partnership will promote the growth of 3elagi Tech, accelerate the startup’s digital transformation, and strengthen its digital footprint while providing people access to medication without having to leave their households. Read also: New Micro Financing VC Fund For Black Women In Tech Launches The majority of the capital includes Egyptian Pound 25-million ($1.6-million) which will contribute to financing future expansions.  The 25% stake that remains will continue to be managed by the founders.  Ibnsina Pharma Ibnsina Pharma was established in 2001 by Omar Abdel Gawad and Mahmoud Abdel Gawad. Ibnsina...

Tech Startup Xend Finance Secures US$1.5M, Launches First DeFi Platform

NIGERIA – Xend Finance, a tech startup, has launched the first decentralised finance (DeFi) platform that allows users to save and invest in stable currencies in the global market without the need for a traditional middle man in the country. In addition, Xend has secured a US$1.5 million investment round from Binance Labs, Google Developers Launchpad, AU21 Capital, Ampifi VC, JUN Capital, TRG Capital, and Matic Co-founder, Sandeep Nailwal. Read also: South African Fintech Startup FinChatBot Secures $1.6m To Explore Markets In Europe And West Africa In an official press release, Kenzi Wang, Partner at AU21 commends the Xend Finance team for building their network to infiltrate into the finance industry. “Along with Google, we were very impressed with the team...

Daily Digest Friday 13 November 2020

Funding In Emerging Markets South African Fintech Startup FinChatBot Secures $1.6m To Explore Markets In Europe And West Africa On its part, Saviu is an early-stage venture capital firm that invests in post-revenue seedstage B2B startups (mostly logistics and transport) in both francophone and anglophone countries across Africa. Since its founding in 2017, Saviu has made more than 20 investments in 11 portfolio companies, mostly in french-speaking countries. Read more Funding In Southern Africa Tech Group Alviva Holdings To Buy Rival Tarsus For US$11.8m It was reported in mid-October that Alviva was in discussions to buy Tarsus, prompting Alviva to file a regulatory notice to shareholders via the Johannesburg Stock Exchange...

New Micro Financing VC Fund For Black Women In Tech Launches

South Africa’s first solely black-woman-owned private equity fund for underrepresented tech startups, Khula Lula has officially launched. The micro-financing VC, Khula Lula has also just made its first angel investment of R200 000 into Native Nylon, an upcoming fashion eCommerce startup. Read also: Beyond Funding; The Value-Add Of VCs Founded by Milisa Mabinza, a University of Johannesburg alumni, the new kid on the private equity funding block aims to address the existing gap of South African women involved in early-stage entrepreneurial activity, by bolstering female entrepreneurship and underrepresented tech startups. In an official press release, Mabinza points out that Khula Lula’s focal point is black women founded tech startups. “It has been...

New Report From Google Says Africa’s Internet Economy Would Be Worth $180 Billion By 2025

Yesterday, Google and the International Finance Corporation published a report entitled e-Conomy Africa 2020. It estimates that the economy of the African continent could gain 180 billion dollars by 2025 thanks to two things: greater access to a fast and quality Internet connection, as well as the realization of the African Continental Free Trade Area project. Read also: East African Women’s Health Tech Startup Secures $1-Million “Google and IFC have created this report to highlight the role that the digital startup industry plays and other factors driving the continent’s growth, in order to showcase and support the opportunities that the continent presents,” Nitin Gajria, Google Director for Sub-Saharan...

South African Fintech Startup FinChatBot Secures $1.6m To Explore Markets In Europe And West Africa

It is gradually becoming easy for fintech startups in Africa to make it past $1m in each round of funding. Joining this list is the Johannesburg-based FinChatBot, a creator of conversational artificial intelligence (AI) solutions for the financial services industry. The startup just announced US$1.6 million in new funding round to help it expand into Europe and West Africa. Here Is What You Need To Know This round of funding came from French investment holding company Saviu Ventures, Mauritius-based Compass Venture Capital, and South African venture capital firm Kalon Venture Partners. Compass Venture Capital and Kalon Venture Partners have previously invested in FinChatBot in 2018.FinChatBot will use the funding primarily to grow...

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