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Angolan Government Approves Grant of $11,000 To Each SME And Startup Through Local VC

http://trisporttrophies.com/engraving The Angolan government has approved the injection of 4 billion kwanzas ($6.3 million) into small businesses and startups, as part of the economic measures approved in April 2020 for the opening of a set of lines of credit to productive sectors of the economy. Angolan Secretary of State for the Economy, Mário Caetano João, announced the effective provision of funding of 4 billion kwanzas, or more than 6 million dollars, for micro-businesses. Each small business will be able to benefit from 7 million kwanzas, or about $ 11,000, from this operational fund starting from September 23rd, 2020.  Read also: Factsheet: Between venture capital and private equity investments in African tech The...

Daily Digest Wednesday, 30 September 2020

Funding In Africa Innovation Fellowship Programme Secures Funding With donations received by Stewart Butterfield, CEO of Slack, the premier team collaboration platform, Aaron Levie, CEO of the leading enterprise cloud company Box, and Craig Newmark, founder of Craigslist have joined the organization’s 100 Founders’ Challenge. Read more Funding In South Africa Angolan Government Approves Grant of $11,000 To Each SME And Startup Through Local VC The material and technical conditions are in place to inject the money into the microcredit support line. The Angolan Active Venture Capital Fund (FACRA) has already transferred 2 billion kwanzas for microcredit companies and credit unions linked to the project. To have access to it, the entrepreneur must...

Factsheet: Between venture capital and private equity investments in African tech

Between February and August 2020, Lateral Capital made a mix of repeat and first-time investments in 9 African startups.  The Africa-focused firm was the lead investor in seven of those deals. Some of the deals they participated in are a $2m round by Seamless HR, a $1m round by LipaLater and a $500,000 round by AppZone Group.  In August, they became the first institutional investor in Mono, a Nigerian fintech startup that announced the close of a $500,000 seed round this week. Lateral Capital is one of over 250 organisations with active investments in Africa’s startup ecosystem, according to an ecosystem analysis by Briter Bridges. These investors range...

Kenyan Digital Addressing Startup OkHi Secures $1.7m Funding From UK Angel Network

OkHi, the Nairobi-based startup which has developed a digital addressing system for emerging markets, has secured a GBP1.4 million (US$1.78 million) funding round just within two months of looking for funding. The investment came from the London-based Angel Investment Network.  “A physical address should be a human right. Whether it’s opening up a bank account or getting an ambulance to your door, every person on this planet deserves access to these services. This raise is a vital stepping stone to unlock our growth into Nigeria as well as explore new markets across Africa, Middle East and Asia,” said Timbo Drayson, co-founder of OkHi. Here Is What You...

Solarise Africa secures $10-million investment

Kenya-based clean and renewable energy leading company, Solarise Africa has secured $10-million in funding from a Series B investment round from French development finance institution, Proparco and existing investors, EAV, and EDFI ElectriFI.  This will further assist SMEs to maintain its operations with an affordable financial solution.  Paras Patel, Partner, Energy Access Ventures shares that the expansion of Solarise Africa’s offering will provide added value to a greener society across the continent. Read also: Startup Bill 2020 To Benefit Startups With Majority Kenyan Ownership “We are excited to continue to support the Solarise team as they grow their geographical footprint and impact across Africa. The team has continued to demonstrate their bankability with successful deployments...

Daily Digest Tuesday, 29 September 2020

Funding In Africa Solarise Africa secures $10-million investment Paras Patel, Partner, Energy Access Ventures shares that the expansion of Solarise Africa’s offering will provide added value to a greener society across the continent. Read more Kenyan Digital Addressing Startup OkHi Secures $1.7m Funding From UK Angel Network It has now received support in achieving this goal after receiving GBP1.4 million (US$1.7 million) in funding, with help from the Angel Investment Network, the world’s largest online angel investment platform. Read more Opinion Corner Factsheet: Between venture capital and private equity investments in African tech The Africa-focused firm was the lead investor in seven of those deals. Some of the deals they participated in are a...

The No. 1 Reason You’re Not Experiencing Consistent Revenue in Your Business

Spend any amount of time in entrepreneurial social media groups and you'll get a glimpse into the things that are happening in entrepreneurship. You’ll see entrepreneurs posting screenshots of five- and six-figure months. You’ll see leaders talking about experiencing their highest-revenue months. You’ll see experts left and right offering advice. You’ll even see a few entrepreneurs posting about their struggles.  While looking successful on social media can feel good for a while, it’s not the path to building a business that creates financial security and options for an entrepreneur. One-hit wonder months aren’t sustainable and will have an entrepreneur frustrated by the lack of return for the effort they’re...

Daily Digest Monday 28 September 2020

Latest News Startup Bill 2020 To Benefit Startups With Majority Kenyan Ownership The Kenyan parliament has published a Startup Bill in its National Gazette. Among several interesting provisions, the government wants to create a number of incentives for startups as well as protection for intellectual property. Read more Funding In Africa Seven African Tech Startups Receive Funding MEST Africa has announced its funding round of $700 000 for seven selected African tech startups that have graduated from its 2020 training programme.  Read More 13 Egyptian Startups Secure Funding From Startup Accelerator Changelabs Startup accelerator Changelabs is set to hold its second cohort demo day on 30 September, providing an opportunity for innovative start-ups to secure funds...

Startup Bill 2020 To Benefit Startups With Majority Kenyan Ownership

The Kenyan parliament has published a Startup Bill in its National Gazette. Among several interesting provisions, the government wants to create a number of incentives for startups as well as protection for intellectual property. The Startup Bill 2020 is sponsored by the Nairobi County Senator, Johnson Sakaja, and provides a framework for the development of innovative entrepreneurship, the establishment of incubation hubs, and for building a network of local and foreign investors. With this in the works, Kenya looks set to follow the likes of Tunisia and Senegal in enacting a Startup Act. It will also be the third East African nation, after Rwanda and Ethiopia, that is working...

US-Based VC, Aptive Capital Makes $10,000 Equity-Investment In 3 African Startups

Aptive Capital, a US-based VC, has announced its investment in three early-stage businesses in Africa; Nigeria, and Uganda. Earlier in June 2020, the Africa-focused investment company opened up applications to invest $10,000 equity capital into eligible and high potential startups based in Africa, from its $1 million portfolio fund. The application, which ran for a month, had over 500 entries from high growth companies with very impressive founders across Africa. After thorough phases of scrutiny and submission reviews by investment professionals, three startups were selected for the early-stage funding.  Speaking on the investment, the Managing Partner at Aptive Capital, Dr Ben Peter, said, “We had lots of entries from impressive founders...

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