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

http://thebloodynerve.com/product/short-sleeve-unisex-t-shirt/ 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...

Profile: Victor Boyle-Komolafe

 Victor Boyle-Komolafe, the co-founder of Garbage In, Value Out (GIVO), a system that automates and digitises the collection, processing, and sale of recyclable materials. Victor, a chartered accountant, helped develop GIVO after he was inspired at a workshop which discussed the waste problem in Nigeria. Fifteen billion units of PET plastic enter Nigeria annually, with less than 10% of them being recycled. The other 90% goes to landfill or into waterways. GIVO leverages technology to collect recyclable material directly from individuals, families and businesses and to process these materials into consumer and industrial goods. Furthermore, GIVO relies on a network of youth and women owned franchise businesses. This is...

Daily Digest Friday, 2 October 2020

Funding In Africa Zambian Agritech Startup Secures $2.1-Million Funding Carl Jensen, Co-founder, and CEO of Good Nature Agro explains that the investment capital will enable the startup to further its goals of assisting small-scale farmers by upscaling their current business model.  Read more Nine African Solar Companies Secure $2.6 million In Grants From Power Africa Power Africa has announced the disbursement of $2.6million in grants to solar companies to provide off-grid electricity to 288 healthcare facilities across sub-Saharan Africa. Read more Call For Application & Web Events Digital payments seeing second growth spurt after demonetisation, says fintech report by Matrix Partners India In a report titled 'State of India Fin+Tech' by Matrix Partners...

Nine African Solar Companies Secure $2.6 million In Grants From Power Africa

Power Africa has announced the disbursement of $2.6million in grants to solar companies to provide off-grid electricity to 288 healthcare facilities across sub-Saharan Africa. “These grants demonstrate the Power Africa model in action. We use a modest amount of public funding to de-risk the transaction, thus opening the door for private investment,” Lead for Power Africa’s Beyond the Grid initiative David Stonehill.  Read also: Kenyan Digital Addressing Startup OkHi Secures $1.7m Funding From UK Angel Network Here Is What You Need To Know Stonehill said USAID through the grants is investing in a set of pilot projects that demonstrates how healthcare electrification can be delivered in a commercially sustainable manner, with strong...

Digital payments seeing second growth spurt after demonetisation, says fintech report by Matrix Partners India

Matrix Partners India along with McKinsey & Company, released a survey report that outlines the impact of the COVID-19 pandemic on the financial services and fintech sectors, and the recovery mechanisms being implemented by various players. In a report titled 'State of India Fin+Tech' by Matrix Partners India, with McKinsey & Company as the knowledge partner, the investment firm highlighted that fintech startups still have a ray of hope. While lending may have been severely impacted, wealth management and insurance tech recorded growth.  Read also: Cairo-based La Reina raises six-figure investment, launches a fashion subscription service ‘The Box’ for women The report includes results from a survey of...

Zambian Agritech Startup Secures $2.1-Million Funding

Zambian agritech startup, Good Nature Agro (GNA) has secured $2.1-million in a Series A equity funding round from Goodwell Investments and existing seed investors Global Partnerships and FINCA Ventures.  Carl Jensen, Co-founder, and CEO of Good Nature Agro explains that the investment capital will enable the startup to further its goals of assisting small-scale farmers by upscaling their current business model.  “We believe that every farm – regardless of size – deserves a partner who sees enough value in their capacity and their dreams to engage with them as individuals and families. Our focus on personalised advice and service delivery to farmers even as we scale is the key to our social impact and our momentum....

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