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COVID19: THE MIND OF THE CEO, WHAT EMPLOYEES NEED TO KNOW…

Due to the global pandemic COVID-19, the world as we know it is evolving rapidly and so are People as consumers of products and services. As consumers, we get forced into aligning our behavioural pattern to adjust to the demands of and survive the COVID-19 Pandemic, ultimately resulting in a “new normal” … a new way of being. In this new world, we prioritize, and our emphasis shifts from purchase of non-essential goods and services, to focusing on methods of obtaining essentials, which have become more efficient with limited or no physical interaction, where possible. Organizations must assess these changes in consumer behaviour critically to understand...

Pakistani fintech SadaPay gets in-principle approval from country’s central bank to launch mobile wallet

Islamabad-based fintech SadaPay has been granted the in-principle approval by the State Bank Of Pakistan for an Electronic Money Institution (EMI) license. Founded by American entrepreneur Brandon Timinsky who started working on the idea of shortly after moving to Pakistan in 2018, SadaPay, according to the details available on SBP’s website (PDF), will offer a digital wallet to individuals (consumers), merchants, and freelancers. Next article: Palestine’s Tawazon raises six-figure seed for its Calm-like meditation app for the Arab world Among the other companies listed on the website that have received in-principle or pilot phase approvals within the last six months, SadaPay is the only one with an offering for freelancers too. According to...

Palestine’s Tawazon raises six-figure seed for its Calm-like meditation app for the Arab world

Palestine-based wellness startup Tawazon has raised seed funding from Ibtikar Fund, the Palestinian VC announced in a statement on 29 April 2020. Founded in 2018 by Suna Zoabi-Othman, Tawazon (which means balance in Arabic), is a Calm-like Arabic meditation app that offers what it calls ‘scientifically proven’ and guided meditations of different durations for different audiences. The sessions available on the app are in Arabic, which is what makes it different from Calm, the American meditation app that became a unicorn last year. Other articles: Why The IFC Is Staking Big On Kenya’s Ailing Retail Sector Tawazon claims that the native language plays an important role in effectiveness of meditation and that is...

Tanzania’s East Africa Fruits nets over $2m in equity round led by Goodwell Investments

Tanzanian social enterprise East Africa Fruits has closed a $2.05-million Series-A round. It raised a further $950 000 in debt funding. The round was led by Dutch impact investment firm Goodwell Investments with participation from US based impact investor Finca Ventures and Swiss headquartered foundation Elea. Founded by Elia Timotheo in 2013, East Africa Fruits, helps farmers to sell to informal markets. The business uses a web-based system to record and process client orders. Other articles: African Food Prize for Innovation in Agriculture - $100,000 In an announcement on Wednesday (6 May), Goodwell Investments said the funding will help the business to build essential supply-chain infrastructure. East Africa Fruits uses a web-based system to record and process client orders They...

African governments have worked to increase the number of young entrepreneurs in Africa, here is how…

The over-dependence of African youths on formal employment has become quite alarming, given the declining job opportunity in the formal sector. Thus, meeting Sustainable Development Goal (SDGs) 8 on creating sustainable employment for young people and promoting youth entrepreneurship have become top policy issues in many African countries. In the light of recent global economic crisis, African leaders have charted a direction to minimise this employment dependency on the formal sector, leading to a mounting political commitment to support young innovators across Africa in Tech, Manufacturing, Agriculture, Health, etc. These commitments are reflected in several initiatives such as the African Youth Charter (AYC) and Youth Decade Plan of...

Swvl quietly raised over $20 million in a new round right before Covid-19

Swvl, the Cairo-born mobility startup quietly raised over $20 million in a new round right before the spread of Covid-19 in the region. The investment round which hasn’t been officially announced yet, we’ve learned, had both existing and new investors take part in it. The round was also confirmed in the recent financials of Vostok New Ventures, the Swedish VC that co-led Swvl’s $42 million Series B-2 in June last year. Vostok in its 2020 Q1 report said that it invested $7 million in Swvl in a larger funding round in February 2020, pre Covid-19. The report by Vostok does not reveal the exact size of the round...

Daily Digest Thursday, 7 May 2020

Funding in Southern Africa Money transfer group Mukuru acquires fintech Zoona’s assets in Malawi Mukuru, one of the largest international money operators and remittance companies in Africa, has confirmed that it has acquired Zoona’s operational assets in Malawi along with the technology systems that support its Malawian operations. Read more...

What influences angel and VC investments during a pandemic?

From thinking up an idea to making it a business, the entrepreneurial journey is one which is both interesting and challenging. Interesting because there are no set-in-stone guidelines that ensure success, hence, the freedom to explore and take risks while also avoiding mistakes. And therein also lie the challenges, especially with external factors at play. For entrepreneurs looking for support outside bootstrapping — family, friends, and fools funding which may be insufficient until profit is being made — the question on their minds would either be, “Do I have what it takes to get an investor interested in me for funding?” or, “Does my idea set...

Where to invest in Africa in the face of COVID-19: Botho Emerging Markets Group

Back in January, Africa’s economic outlook for the year was bright. African Development Bank projections predicted 3.9% growth in 2020 and 4.1% in 2021. But then, coronavirus upended the global economy. Less than two months later, with only 61 confirmed Covid-19 cases in Africa, the United Nations Economic Commission for Africa (UNECA) revised the continent’s growth projections downwards to 2%. Related posts: Investor Partech Raises $100M For Its Third Global Seed Fund To Invest In A Post-Covid Future Last week, The World Bank said that Africa is headed towards its first recession in 25 years. These gloomy figures can largely be attributed to disrupted value chains,...