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Cairo-based Dresscode raises 6 figure Seed funding round

Dresscode, an e-commerce retail marketplace has raised a 6 figure Seed funding round, led by Egypt Ventures. Dresscode's aim is to connect Egyptian manufactures to the consumers directly, and are working to fulfill a gap in the market for affordable high fashion.They provide a platform for local fashion brands and designers to market and sell their products, adding to their income streams and helping them grow their business. The company’s business model also depends on third party manufacturers which contributes to job creation across the entire fashion supply chain in the Egyptian market.The funds will be used to maintain growth, by expanding the team, the product offerings, and infrastructure to...

Daily Digest Monday, 10 August 2020

African News New programme launches to assist female-owned tech businesses Founded and created by Wits University’s Tshimologong Digital Innovation Precinct with financial support from J.P. Morgan, Ya Basadi in the 4IR programme is targeted at primarily female-owned businesses Read more Germany to Ramp Up Investment in African Energy Despite a wide range of investment opportunities in the African energy sector, limiting factors still constrain the advancement of industrial and manufacturing abilities on the continent, which include local content and skills development. Read more Funding In Southern Africa SA e-health startup Guidepost raises further funding to help it scale Dominique Collett, senior investment executive at RMI and head of AlphaCode, said her company believed in...

New programme launches to assist female-owned tech businesses

Ya Basadi, meaning ‘for women’ in Setswana is a new acceleration programme aimed at supporting established female-owned businesses to transition into a technology-enabled company to optimise and improving their operations. Ya Basadi’s programme will help female-owned businesses utilise the power of technology Founded and created by Wits University’s Tshimologong Digital Innovation Precinct with financial support from J.P. Morgan, Ya Basadi in the 4IR programme is targeted at primarily female-owned businesses, which are already trading and have a clear understanding of how tech can scale their businesses.  In addition, the programme is also aimed at underserved female entrepreneurs from low-income backgrounds. Tshimologong will facilitate the programme and provide the much-needed support for...

Germany to Ramp Up Investment in African Energy

There are indications that a boost in German-African business relations is in the offing post-Covid-19. This much could be gleaned from an exclusive webinar held yesterday, Thursday 6th August which explored the market dynamics set to shape post-COVID-19 business relations. The webinar titled, “Germany-Africa Economic Relations: Making Deals Post COVID-19” highlighted opportunities for German businesses in Africa’s power production, clean energy, and digitalization and technology sectors; An opening keynote was given by H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of the Republic of Equatorial Guinea; Panelists included Ibrahima Mané, Director General for Cooperation & Financing for the Republic of Senegal; Onyeche Tifase, Head of...

Egyptian fintech ElGameya raises six-figure pre-seed to help people save money

Cairo-based fintech ElGameya has raised a six-figure pre-seed investment led by AUC Angels, the startup announced in a statement today to MENAbytes, without disclosing the exact size of the investment. The round was also joined by Cairo Angels and Alex Angels. Founded in 2018 by Ahmed Mahmoud, ElGameya enables people to save money using money circles. The users can use the platform to take part in the existing money circles available on the platform or create new ones using their own network. For those who don’t know how this works, all the members of a money circle deposit a fixed (and agreed) amount of money every week or month...

SA e-health startup Guidepost raises further funding to help it scale

South African diabetes health and insurtech startup Guidepost has raised an undisclosed amount of further funding to help it increase its impact. A technology platform that enables highly personalised, data-driven diabetes management at scale, Guidepost allows patients to better manage their illness, and during its six years of operation has achieved a 45 per cent reduction in diabetes complications across more than 8,000 patients. The startup, which also allows insurers to significantly better manage their diabetes risk, raised funding from Rand Merchant Investments (RMI) through AlphaCode in November of last year, and has now secured additional funding from the same company as well as from investment fund Endeavor. Having grown rapidly into a national network...

Profile: Dr. May Ikeora

Dr May Ikeora is an academic researcher, an ex-beauty queen cum entrepreneur. Her professional career spans working across Africa and Europe at various levels. She is a specialist in Human Rights, Gender and Peacebuilding, consulting for organisations such as the United Nations, African Union and the Kofi Annan Peacekeeping Institute. She gained a Ph.D. in Law from the University of Hull, U.K, and has received numerous awards with regards to her work within the African diaspora communities in the UK. As an entrepreneur, Dr. May founded an organic & natural cosmetics company called L’Avyanna Skin Naturals, which is based in the UK and Nigeria. She possesses...

Daily Digest Friday 7 August 2020

Funding In Africa GAMBIA: JICA grants $15 million for rural water supply In the Gambia, the fourth phase of the Rural Drinking Water Supply Project can begin. On the 27th of July 2020, the government of this West African country signed a financing agreement with Japan through the Japan International Cooperation Agency (JICA). Read More Guidepost, healthtech startup receives investment funding The investment into the innovative telemedicine startup comes at a time where effective digital healthcare solutions for diabetes patients are critical. With the undisclosed investment funding, Guidepost will be able to enhance its service to users and provide safe jobs for nurses and dietitians. Read more South African TV...

South African TV and Film relief fund worth R8.3-million opens

A film and television relief fund worth R8.3-million has been established by Netflix in partnership with the South African Screen Federation (SASFED) and supported by the Independent Producers Organisation (IPO). The fund aims to provide short-term financial relief to ‘below-the-line workers whose livelihoods have been negatively impacted by the Covid-19 pandemic. Many of those impacted are paid hourly wages and work on a project-to-project basis.  Netflix has launched a Covid-19 relief fund worth R8.3-million for the SA TV and film industry In an official statement, Tshikulu Social Investment explains the aim of the fund.  ”We created this COVID-19 Film and Television Relief Fund to provide emergency relief to crew members who are most affected by...

GAMBIA: JICA grants $15 million for rural water supply

The Government of Japan has recently awarded a grant of about $15 million (770 million Gambian Dalasis) to the Gambia through the Japan International Cooperation Agency (JICA). The funds will be used to finance the fourth phase of the Rural Drinking Water Supply Project to be launched in the country in 2019. In the Gambia, the fourth phase of the Rural Drinking Water Supply Project can begin. On the 27th of July 2020, the government of this West African country signed a financing agreement with Japan through the Japan International Cooperation Agency (JICA). The Gambia thus benefits from a grant of about 15 million dollars (770...

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