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Morocco’s Central Guarantee Fund (CCG) Sets Up Exceptional Additional Financing In Support Of Startups

In order to assist startups in this difficult time, the Caisse Centrale de Garantie (CCG), which manages the Innov Invest fund, has set up exceptional additional financing for the benefit of startups.  Here Is What You Need To Know This exceptional device by CCG should notably benefit startups that have received financing under the Innov Invest fund and are unable to obtain bank loans.It should be noted that startups eligible for this funding must be active and have order books, materialized by contracts concluded.  It should be noted further that this funding is in the form of an honor loan that can be distributed by support structures labeled category 2...

Egypt’s Furniture Startup Drowzy Secures Six-figure Funding From UAE Angel Investor

A ‘strategic’ angel investor from the United Arab Emirates has made a six-figure investment in Cairo-based direct-to-consumer (D2) furniture and home accessories startup Drowzy, the startup said in a statement without disclosing the exact size of investment. Here Is What You Need To Know Although the identity of the angel investor was not disclosed, the investment was, at least, in excess of $100k. The startup also met the strategic angel investor at the ongoing STEP 2020 Dubai, a fundraising bootcamp program for startups from emerging markets.The financing will be used to accelerate the growth, widen the catalogue of products, disrupt the global market, hire more resources and launch...

Rwandan food distribution company GET IT clinches investment from US investor VestedWorld

Rwanda based food distribution and logistics company, GET IT has obtained an investment from Chicago-based impact investor VestedWorld. According to a report by Africa Private Equity News, GET IT is one of the largest distributors of fresh produce and dry goods in Rwanda and the East Africa region, supplying most of the leading hotels and restaurants. The company uses off-grid cold-storage facilities to prevent spoilage of food from its own farm and other suppliers during transit. The storage facility was an investment in an InspiraFarms facility that includes 60m2 of cold storage and a 45m2 produce reception area with docks for direct loading from and onto trucks. The fresh food...

Daily Digest Tuesday 28 July 2020

Funding In Southern Africa Alrosa signs a joint venture with ZCDC to develop diamond deposits The Government of Zimbabwe is on the verge of striking a US$450 million deal with a diamond mining company for the production of 850 000 carats of diamonds, through the Zimbabwe Consolidated Mining Company, as part of efforts to increase earnings to US$1 billion by 2023.Read more Funding In East Africa Vital Capital Sets Up A $5 million Fund To Support Businesses Affected By Covid-19 In Kenya And How To Apply Impact investment firm Vital Capital has announced a collaboration with the U.S. Government’s Kenya Investment Mechanism (KIM). KIM is a five-year...

Off grid energy startup BioLite secures US$5m investment from KawiSafi

KENYA – BioLite, a Brooklyn-based offered energy startup, has closed a US$5 million investment from KawiSafi Ventures, a growth fund investing catalytic capital to scale companies providing clean, affordable, and efficient energy to East Africa’s low-income populations. KawiSafi joins existing investors Emerson Collective and Disruptive Innovation Fund (Rose Park Advisors) to support BioLite’s plans to further develop innovative off-grid energy products for recreation and emerging markets. Through partnerships with over 30 distributors in emerging markets, BioLite brings clean cooking and solar home energy products to customers in 17 countries. Since its founding in 2009, the Company has provided cooking and energy solutions to over 700 thousand customers, generated over...

The Protected Plant: Assessing cyber security risk and building your roadmap

Date: Wed, Aug 5, 2020 5:00 PM - 6:00 PM CST Show in My Time Zone The old adage “you can’t manage what you can’t measure” is a fitting statement when it comes to industrial cybersecurity. You’re required to have a complete understanding of industrial vulnerabilities, threats, and their impacts, as well as address an increasing amount of mandated security compliance requirements. With the acceleration of remote operations, digital transformation initiatives, and the convergence of IT/OT, assessing your plant network for vulnerabilities is a critical step to lower operational risk and develop a roadmap to ensure your plant is protected. Join Power Engineering International and Baker Hughes...

Vital Capital Sets Up A $5 million Fund To Support Businesses Affected By Covid-19 In Kenya And How To Apply

Impact investment firm Vital Capital has announced a collaboration with the U.S. Government’s Kenya Investment Mechanism (KIM). KIM is a five-year program funded by the U.S. Agency for International Development (USAID) to unlock significant financing to businesses in targeted sectors that have been adversely affected by the COVID-19 pandemic. Here Is What You Need To Know Managed by Palladium, an international impact advisory and management firm, KIM aims to unlock $400 million in investments for key sectors of Kenya’s economy, including agriculture, and for regional trade and investment opportunities.By unlocking finance to agribusinesses and other sectors, KIM will pull small and medium-sized enterprises (SMEs) into competitive and growth-oriented...

African Development Bank approves $27 million to boost African Union’s COVID-19 Response Initiative

The African Development Bank on Friday 24 July approved $27.4 million in grants to boost the African Union’s (AU) efforts to mobilize continental response to curb the COVID-19 pandemic. The approval comes on the heels of a meeting of the extended Bureau of the AU Conference of Heads of State and Government with Africa’s private sector on 22 April 2020, chaired by President Cyril Ramaphosa of South Africa, who is the current chairperson of the AU. African Development Bank President, Akinwumi Adesina, who attended the meeting, pledged strong support for the AU COVID-19 initiative. The AU Bureau meeting called for contributions to the African Union’s COVID-19 Response Fund...

Alrosa signs a joint venture with ZCDC to develop diamond deposits

ZIMBABWE – The Government of Zimbabwe is on the verge of striking a US$450 million deal with a diamond mining company for the production of 850 000 carats of diamonds, through the Zimbabwe Consolidated Mining Company, as part of efforts to increase earnings to US$1 billion by 2023. Mines and Mining Development Minister Winston Chitando said the agreement would complement the plan to recapitalise ZCDC (Zimbabwe Consolidated Diamond Company) in the next few months to increase production. Minister Chitando said the US$1 billion target for diamonds was premised on the production of two million carats per annum. “ZCDC will be recapitalised in the next few months to bolster its...

Daily Digest Monday 27 July 2020

Funding In Southern Africa South-Africa- Morocco : PIC invests USD 50 million in Aradei Capital The Public Investment Corporation (PIC), on behalf of its client, the Government Employees Pension Fund (GEPF) of South Africa, has acquired a 13% stake in Aradei Capital for USD 50 million. Read more Vantage Capital provides R82m funding for development of Kayalane Heights Vantage Capital (VantageCapital.co.za), Africa's largest mezzanine fund manager, announced today that it has provided R82 million of mezzanine funding for the development of Kayalane Heights, a first-of-its-kind affordable housing development located in Lebowakgomo, Limpopo. Read more Funding In Africa Facebook’s Investing $57 Billion in Africa’s Economy According to The Economist Intelligence Unit – Inclusive Internet...

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