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SA SME, Lumkani Wins Prestigious Humanitarian Award And €1-million

South African SME, Lumkani, has taken top honours in the EIC Horizon Prize for Affordable High-Tech for Humanitarian Aid and has received a whopping €1 000 000 in prize money.  Lumkani’s innovative product has been internationally recognised for its positive global impact The EIC Horizon Prize on Affordable High-Tech for Humanitarian Aid has selected five extraordinary tech inventions that provide humanitarian aid and that make a difference for vulnerable communities around the world.   Read Also: IFU and Norfund back safari operator in East Africa Funded under Horizon 2020, the EU Research and innovation programme, which forms part of the European Innovation Council (EIC) pilot, the award aims to recognise cost-effective, proven,...

Webinar: How Big Deals Get Done

This Friday, October 9th, for the 9th episode of “Building in Africa”, we are interviewing Isis Nyong'o Madison, CEO of BlissGroup, a pan-African omnichannel e-commerce and community platform for parenting content and baby care products BlissGroup was formed in July this year from a merger between MumsVillage Kenya, which Isis founded in 2015 and BabyBliss Nigeria. The company seeks to tap into the Baby Care product market in Kenya, Nigeria, and eventually the rest of Africa. Prior to starting MumsVillage, Isis had held leadership roles in Google, Viacom, InMobi, to name a few, and has garnered many years of experience in the world of media and technology. Help...

Egyptian Private Equity Fund LCP Fund II Raises US$140m In Funding Round Led By EIB

EGYPT – LCP FUND II COÖPERATIEF U.A., a generalist private equity fund targeting primarily growth capital investments in SMEs and mid-market companies in Egypt, has raised US$140 million at the first closing of its investment round. The funding round was led by the European Investment Bank (EIB) which signed a commitment of US$22 million. The LCP Fund II also attracted investment from other institutional investors including; the European Bank for Reconstruction and Development, International Finance Corporation, Proparco and the Egyptian American Enterprise Fund. The fund manager, LCP FUND MANAGER BV will adopt a hands-on value-adding investment strategy and will seek to invest in enterprises with robust growth potential. The fund,...

Sasol To Sell Part Of Lake Charles Business To LyondellBasell For $2bn

SOUTH AFRICA – Chemicals and energy group Sasol has entered into a $2billion agreement to sell part of its Lake Charles business in Louisiana in United States to multinational chemicals group LyondellBasell. If approved by Sasol shareholders, LyondellBasell would pick up 50% of the Lake Charles base chemicals business and the two parties would form a joint venture. Sasol has grappled with cost overruns at Lake Charles in recent years as 2020 has delivered an explosion at the facility, a hurricane, and a slump in oil price due to the Covid-19 pandemic. Sasol had total debt of UD$11.8bn in its year to ending June which compares unfavourably with its market capitalisation...

Daily Digest Monday, 5 October 2020

Funding In West Africa Nigerian Mobility Startup, MAX, Floats ₦10 Billion Bond To Expand Services In Africa Nigerian mobility startup, Metro African Xpress (MAX) has successfully completed the issuanceof a ₦400 million ($1 million) 1-year fixed-rate notes series 1 Bond. The Bond is the first part of its newly floated ₦10 billion/$22 million multicurrency Private Company Bond program (dubbed the “PCB Program”). Read more Call For Entries Africa Esports Championship Calls On African Developers To Participate In Game Showcase Event Africa Esports Championship (AEC) recently announced that they are hosting the Africa Games Showcase Invitation. The event is being organised in partnership with LudiqueWorks. Read More Funding In...

Nigerian mobility startup, MAX, floats ₦10 billion bond to expand services in Africa

Nigerian mobility startup, Metro African Xpress (MAX) has successfully completed the issuanceof a ₦400 million ($1 million) 1-year fixed-rate notes series 1 Bond. The Bond is the first part of its newly floated ₦10 billion/$22 million multicurrency Private Company Bond program (dubbed the “PCB Program”). The startup made this announcement on September 28, 2020, and the transaction was arranged by DLM Advisory Limited, a Nigeria based developmental investment bank regulated by the Securities and Exchange Commission (SEC). For anyone unfamiliar with the capital market, this might seem a rare move for a startup and probably bit confusing. By issuing bonds, most established companies can raise money from...

Africa Esports Championship Calls On African Developers To Participate In Game Showcase Event

Africa Esports Championship (AEC) recently announced that they are hosting the Africa Games Showcase Invitation. The event is being organised in partnership with LudiqueWorks. AEC and LudiqueWorks are inviting video game developers and studios to submit their developed games for the showcase which is aimed to “spotlight, highlight and celebrate” video games being developed on the continent. Submitted games will be reviewed by a global team of judges and will stand a chance to be awarded mentorship, distribution and publishing support. Criteria for entering the competition is as follows; Genre (Any)Playable demoMobile (Android or iOS), PC or ConsoleLanguage (Swahili, English or French)Developed by an African based indie developer or...

Flick Raises $1M Pre-Seed Funding Round

Flick, an Egyptian seamless peer-to-peer app that digitizes the cross-border end to end money transfer, has successfully raised $1M from an angel investor in a Pre-Seed funding round.  Ahmad Zalat CEO Flick aims to solve the pain points that are common in the traditional ways of international money transfer. Customers can transfer money using the Flick mobile app from anywhere and everywhere without any commuting needed for both the sender and the recipient. Egypt has been moving towards financial inclusion and pushing laws and regulations to go cashless. This directly affects people's behaviors by looking for new ways of transferring money and has provided Flick with a great opportunity to...

African Music Service Mdundo Raises $6.4M By Listing On Danish Stock Exchange

African music service Mdundo has listed on the Danish stock exchange (the Nasdaq First North Growth Market) to accelerate its growth in sub-Saharan Africa. Established in Kenya in 2013 and headquartered in Denmark, Mdundo claims to have over 5 million active users (via its website and Android app) as well as a combined 20 million-plus downloads and streams per month. The company’s first day of trading was Friday, September 4 under the symbol MDUNDO. Mdundo issued 4,000,000 new shares at an offer price of DKK 10 per share, raising DKK 40.0 million (approximately $6.4m). Based on the offer price, Mdundo’s market cap value is DKK 102.0m (approximately $16m). The company’s share offer was...

GFA Weekly Round Up September 28- October 2

In this episode of the weekly round up we discussed the main highlights of the week. Seven African Tech Startups Receive Funding13 Egyptian Startups Secure Funding From Startup Accelerator ChangelabsInnovation Fellowship Programme Secures FundingAnd many more https://soundcloud.com/get-fundedafrica/gfa GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges GFA Attract, GFA Weekly Recap & Application Portal For Funding GFA Weekly Round Up In this episode of GFA-Attract (VC Edition) we discuss with Jonathan Berman, Managing Partner of African Innovation Partners (AIP), a venture capital/asset management company with $500m in assets under management. Watch HereGFA...

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