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Liquid Telecom Raises US$307 Million To Expand Data Centre Business

Misoprostol without prescription Liquid Telecom has raised US$307 million from its shareholders to expand upon its data centre operations. The figure rose to the final sum after a commitment of US$40 million by CDC Group, a development financial institution owned by the UK govt. This latest investment is an addition to the US$180 million equity investment made by CDC Group in 2018. The overall investment has been an ongoing fundraising effort from the company shareholders through a rights issue. The investment will support Liquid Telecom as it broadens its Pan-African data centre business, Africa Data Centres. “CDC’s additional equity investment into Liquid Telecom represents another crucial step in connecting businesses in Africa, with Liquid Telecom...

Zimbabwe: Seed Co International Becomes The First Company To Be Listed On VFEX

Seed producer -Seed Co International Limited (SCIL)- which is secondary listed on the Zimbabwe Stock Exchange (ZSE), has announced its willingness to migrate to the country's new stock exchange. The company will thus become the first to be listed on the Victoria Falls Stock Exchange (VFEX), Food Business Africa reports. VFEX is fully managed by the main stock exchange ZSE and the securities traded on this exchange will be mainly in foreign currencies. SCIL did not discuss the reasons for its decision to migrate to the new Zimbabwe stock exchange. Meanwhile, other companies including Caledonia Mining have also expressed interest in this new stock exchange. SCIL operates in over 15...

Daily Digest Wednesday 4, November 2020

Funding In North Africa Aerial Vehicle Startup Atlan Space Raises US$1M Series A Funding To Expand Its Business Launched in 2016 by Younes Moumen and Badr Idrissi, ATLAN Space enables unmanned aerial vehicles (UAVs) to carry out tracking missions with complete autonomy. Through its technology, the platform helps governments and institutions fight environmental crime and assist vulnerable populations. Read more Funding In East Africa Kenya’s Wee Media Raises US$400k Seed Funding Wee Media CEO Rishabh Lawania indicated that the restructure towards African journalism and data intelligence seeks to plug the data gap in the private equity, venture capital and mergers and acquisition space. Read more Latest News Egypt Fintech Startup Launches Country’s First Digital Wallet Jacques Marco, co-founder and CEO at Raseedy...

Aerial Vehicle Startup Atlan Space Raises US$1M Series A Funding To Expand Its Business

MOROCCO – Atlan Space, a startup which enables networks of aerial vehicles, has raised US$1.1 million (MAD 10 million) for its Series A funding round from Maroc Numeric Fund II, with participation from Hilmi Law Firm and Cadex Group, to enable it to expand its business. The aerial vehicles (such as drones, etc.) are guided by artificial intelligence (AI) to scan large marine areas for environment threats. Launched in 2016 by Younes Moumen and Badr Idrissi, ATLAN Space enables unmanned aerial vehicles (UAVs) to carry out tracking missions with complete autonomy. Through its technology, the platform helps governments and institutions fight environmental crime and assist vulnerable populations. Read also: Winners Of The 2020 MTN Business App Of The Year...

Egypt Fintech Startup Launches Country’s First Digital Wallet

Egypt-based fintech startup, Raseedy has partnered with The Saudi Investment Bank (SAIB) and Mastercard to launch the country’s first independent licensed digital wallet. The new fintech innovation allows users to transfer money, make payment via QR code, pay regular bills, issue online virtual debit cards and receive remittance internationally. Jacques Marco, co-founder and CEO at Raseedy explains that the fintech expects the digital wallet to be used by one million people in the months to come, giving users the opportunity to better manage their finances. Read also: Denmark’s IFU Invests US$1.5m In Zambia’s GreenCo “We are proud to announce Raseedy’s launch. We believe that it is our mission at Raseedy...

Kenya’s Wee Media Raises US$400k Seed Funding

KENYA – Multi-platform media company Wee Media has raised $400K in a seed round from Samurai Incubate, Grenfell Holdings, Knarrs Ventures and Jim Waltrip. The media company will use the funding to transition from an advertising-driven media company to a subscription led data and intelligence company. Wee Media CEO Rishabh Lawania indicated that the restructure towards African journalism and data intelligence seeks to plug the data gap in the private equity, venture capital and mergers and acquisition space. Read also: World Bank Approves US$250M For The Establishment Of Development Bank Of Ghana “The vision of the company is to fix the broken business journalism in Africa and bridge the data gap. For more many years, companies like Dow Jones, Bloomberg and Pitchbook have been tracking the global private markets but African data and content are...

Daily Digest Tuesday 3, November 2020

Funding In South-Central Africa Denmark’s IFU Invests US$1.5m In Zambia’s GreenCo The investment completes GreenCo’s operational establishment in Lusaka as an intermediary renewable energy buyer/supplier and power services provider and is a precursor to the 2021 capitalisation of their credit support for Independent Power Producers (IPPs). Read more Funding In West Africa World Bank Approves US$250M For The Establishment Of Development Bank Of Ghana The establishment of DBG would increase access to long-term finance to boost job creation for 10,000 enterprises in key sectors including agribusinesses, manufacturing and high value services. Read more Latest News OAU, CU Produced The Highest Number Of ‘Millionaire’ West African Startup Founders In The Last Decade It is noteworthy that only Millionaire West African Startups (MWAS) — startups...

World Bank Approves US$250M For The Establishment Of Development Bank Of Ghana

GHANA – The World Bank Board of Executive Directors has announced that it has approved US$250 million from the International Development Association (IDA) to support the establishment of the Development Bank of Ghana (DBG). The establishment of DBG would increase access to long-term finance to boost job creation for 10,000 enterprises in key sectors including agribusinesses, manufacturing and high value services. Read also: How Gender Bias Compromises The Tech Sector [Opinion] “By offering long-term wholesale financing, credit guarantees, and other services, the Ghana Development Finance project will help increase overall lending to priority sectors and market segments,” said Pierre Laporte, World Bank Country Director for Ghana, Sierra Leone and Liberia. “The project is aligned with government priorities outlined in the Coordinated Programme of Economic and Social Development Policies and is an integral part of the World Bank Group’s efforts to promote sustainable...

Denmark’s IFU Invests US$1.5m In Zambia’s GreenCo

ZAMBIA – Africa GreenCo Group, conjunction with its Lusaka-based operating company GreenCo Power Services (GreenCo), have announced an investment of $1.5 million by Denmark’s Investment Fund for Developing Countries (IFU) and Private Infrastructure Development Group’s InfraCo Africa (InfraCo). The investment completes GreenCo’s operational establishment in Lusaka as an intermediary renewable energy buyer/supplier and power services provider and is a precursor to the 2021 capitalisation of their credit support for Independent Power Producers (IPPs). “The operationalisation of GreenCo is a great example of national action, and indeed international cooperation, as we strive to deliver affordable energy for all. Notwithstanding the current global economic uncertainty due to the COVID-19 pandemic, it is important that we plan for the future, one where renewable energy helps drive sustainable social and economic growth in Zambia,”  Zambian minister of energy, Matthew Nkhuwa...

OAU, CU Produced The Highest Number Of ‘Millionaire’ West African Startup Founders In The Last Decade

On Monday, October 5, 2020, Techpoint Africa launched its West African Startup Decade Report. The report focuses on the funding activities of startups in the tech space between 2010 and 2019. It contains a breakdown of funding activities by startup industries, the origin of investors, and industry spotlight, among others. It is noteworthy that only Millionaire West African Startups (MWAS) — startups in the West African region that raised $1 million cumulatively — within the period under review were considered in the report. Read also: Guest Contribution: Disruptive Digital Solutions Is Rewiring The DNA Of Banking Zeroing in on the education of the startup founders revealed that Obafemi Awolowo University...

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