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Angola’s Banco Millennium Atlântico Gets $40 Million to (SMEs)

The package consists of a $32 million line of credit from the African Development Bank and an additional $8 million in par Efforts aimed to helping small and medium enterprises weather the storm of the Covid-19 impact in Angola has received a boost with the $40 million financial packages from African Development Bank and  African Growing Together Fund to support Angola’s Banco Millennium Atlântico (BMA) to bolster local production and job creation through its portfolio of small and medium-sized enterprises. Read also: [APPLY] Google, Flutterwave Training For 5000 SMEs Starts March 4 The package consists of a $32 million line of credit from the African Development Bank and an additional $8 million in parallel financing from the Africa...

Nigerian Helium Health raises $7mln from two foreign investors

Nigeria-based health tech startup Helium Health has successfully raised $7 million in equity investment from two foreign investors. One of them is Dubai-based venture firm Global Ventures which, with this co-investment, is making its first interest acquisition in the health tech segment in emerging countries. The second contributor is Singaporean Asia Africa Investment and Consulting. Read related articles: Villgro Kenya Awards $60,000 to East African HealthTech Startups The provided resources will finance the deployment of tech solutions and tools for health workers. To help fight the current coronavirus pandemic, Helium Health has developed telemedicine tools that are aimed at facilitating access to information and analyze results for covid-19 patients. According...

Nigerian agri-tech startup Farmcrowdy’s impact platform CrowdyVest has launched a bus-hailing service

Nigerian agricultural crowdfunding startup Farmcrowdy, through its general investment platform CrowdyVest, has launched bus-hailing service PlentyWaka.  Formed in 2016, the Farmcrowdy platform connects small scale farmers across Nigeria with access to finance sourced from individuals and corporates via its online platform, and has so far empowered over 25,000 farmers across 14 states. The company has been in the process of reorganising recently, bundling its sister companies Farmgate Africa and Agricsquare into a bigger Farmcrowdy in July, and spinning out CrowdyVest, an investment platform created to deploy crowdsourced capital into agriculture, transportation and beyond. See related posts: Villgro Kenya Awards $60,000 to East African HealthTech Startups CrowdyVest has now launched PlentyWaka, a bus-hailing service that already...

Profile: Tom Guest

Tom has over 10 years of financial market experience, and oversees Noble Capital’s Origination and Structuring efforts, splitting his time between the UK and Africa. He travels widely to develop new business and help manage transactions through to financial close, with a particular interest in the food, agri and energy value chains. Prior to joining Noble, he was a core member of the senior management team that grew a UK-based FCA-regulated structured commodity trading platform from start-up to a multi-million dollar business. Tom has worked extensively across South East Asia, the Middle East and North Africa. Tom has a First Class degree (BA & MA) in Classics and Arabic...

Profile: Patrick Burnell

Partick Burnell has about 25 years of experience at top-tier investment banks and inter-dealer brokers in London and Asia, Patrick has developed deep and widespread investor relations which give Noble Capital unrivaled penetration into the global investor audience. Key Work Experience Prior to joining Noble Capital, he set-up and ran the sub-Saharan Africa desk for the world’s largest inder-dealer broker, TP ICAP, as well as running other high-profile divisions such as structured credit derivatives within the group. Patrick previously held high-profile positions at top-flight investment banks such as JP Morgan, Nomura and RBS. Educational Background Patrick is a graduate of Cass Business School with a BSc in...

Egyptian email service provider Pravica raises $500k from investors including 500 Startups

Cairo-based Pravica, an email service provider (ESP) that utilises blockchain technology, has closed a pre-seed funding round of US$500,000 to help build its customer base, grow its team and add to its product. Pravica, which was known as Dmails until it rebranded in March, was founded in April of last year by Mohamed Hussein Abdou, who had noticed emails oftene lacked data security. He successfully developed an innovative platform based on blockchain technology which guarantees the highest security standards for corporates communicating via emails and other communication tools. Other related articles: Egypt central bank plans $50mn to $100 mn fintech fund Pravica is now poised for growth after securing...

Ghanaian retail-tech startup Sumundi raises funding from GreenTec Capital

Ghanaian startup Sumundi, which has developed an innovative digital retail management platform designed to help retailers manage, grow, and sustain their businesses, has secured funding from GreenTec Capital to help it expand operations. Founded in 2018, Sumundi has developed a retail management platform, available online and offline, that helps store owners record sales, generate receipts, and track inventory, allowing them to keep track of what is going on in their shop in real-time.  The easy-to-use point of sale (PoS) software and inventory management software makes it easy for small shops and retailers to adopt technology into their businesses, benefitting from inventory management, accounting, e-commerce, fulfilment, and logistics services. Read other...

African Countries Get $3-Million COVID-19 From Afreximbank

The African Export-Import Bank (Afreximbank) has announced a $3-million grant to complement continental efforts to combat the COVID-19 pandemic. Afreximbank President Prof. Benedict Oramah,who made the announcement in Cairo, said that the grant was in response to a request by African heads of state, through the auspices of the African Union Chair Person, Cyril Ramaphosa, President of South Africa, for the mobilisation of resources to address the pandemic. Read other related articles: African Startups Secure $350 Million In Funding In Q1, 2020 He said that a significant proportion of the grant would go to the COVID-19 Special Fund set up by the African Union (AU) as well as to...

Made In Africa Inc. Gets $190 Million to Acquire Vlisco Group

Made In Africa Inc. has received $190 Million term sheet facility from the African Export-Import Bank (Afriexim Bank) to finance the company’s acquisition of African Fabric Holdings BV, Netherlands, also known as Vlisco Group. The facility, broken into two tranches, will also be used to provide working capital to Vlisco group following the acquisition. Kanayo Awani, Managing Director of Afreximbank’s Intra-African Trade Initiative, signed on behalf of the Bank while Kojo Annan, Chairman and Founder of MIA, signed for the company during a ceremony held on the sidelines of the Creative Africa Exchange Weekend (CAX WKND) taking place in Kigali. Other related articles: Kenya Catalytic Jobs Fund Vlisco Group...