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LIVE: “Building in tough times

This Friday, July 10th, for the 5th episode of "Building in tough times" we are interviewing, Omowale David-Ashiru, Vice President - Global Operations at Andela, the global tech talent provider which recently pivoted to a fully remote model.Andela has had to make some tough decisions in the midst of the pandemic.Omowale's team is responsible for creating an environment that fosters effective work for its fully remote workforce across seven countries with unit economics that is viable for sustained growth and scaling of the company.Omowale will answer questions including:How Andela is navigating the crisis and lessons for business leaders.How do tech business leaders respond during this...

Daily Digest Tuesday 7 July 2020

Funding In East Africa With the acquisition of Saham Kenya, MUA confirms its ambitions in East Africa Present in Kenya since 2014, the leading insurance company in Mauritius reaches another important milestone in its expansion strategy in East Africa by completing the acquisition of Saham Kenya. Read more Funding In North Africa France Launches $33.7m Credity Facility For Startups And Small Businesses In Tunisia A new line of credit to support Tunisian SMEs and startups have been made available by the French Government to Tunisian SMEs and SMIs, including 6 million Euros in donation, as part of the acquisition of goods and services of French origin up to 70% minimum.  Read more Funding In...

With the acquisition of Saham Kenya, MUA confirms its ambitions in East Africa

Present in Kenya since 2014, the leading insurance company in Mauritius reaches another important milestone in its expansion strategy in East Africa by completing the acquisition of Saham Kenya.The Mauritian insurance company MUA Ltd ("MUA") announces the completion of the acquisition of Saham Assurance Company Kenya Limited ("Saham Kenya") , through its subsidiary MUA Insurance (Kenya) Limited (“MUA Kenya”). Present in the region since 2014, following the acquisition of Phoenix Transafrica Holdings (with a presence in Kenya, Tanzania, Uganda and Rwanda), MUA significantly strengthens its local presence through this acquisition, sending out a strong signal about the group's confidence in the Kenyan insurance sector. The transaction...

France Launches $33.7m Credity Facility For Startups And Small Businesses In Tunisia

A new line of credit to support Tunisian SMEs and startups have been made available by the French Government to Tunisian SMEs and SMIs, including 6 million Euros in donation, as part of the acquisition of goods and services of French origin up to 70% minimum.  The establishment of this line of credit is part of the joint effort to help the economic development of the country and to strengthen trade links between Tunisia and France.  The Regional Economic Service and the Agency for the Promotion of Industry and Innovation, with the support of the Business France office in Tunis and the Tunisian-French Chamber of Commerce and Industry are organizing a...

Top startup web events Africa this week

If you have any event recommendations for us to add to the list, or next week’s, please send us an email nichole@getfundedafrica.com.  Please notify us by Friday of the week before the event. Not all the events are free and some will require booking in advance. Please click on the event names to find out more information. Career Strategy during a pandemic Covid-19 has changed our lives, in a time where most people are dealing with economic instability and job insecurity, deciding what your next career move during a pandemic is possibly the most important decision you will make in your career. Lifecheq CEO Abu Addae and Senior Consultant,...

CDC Group, Finnfund Invests $70m Into AfricInvest Fund IV To Support Startups And Businesses Across Africa

The CDC Group and Finnfund have made a $70-million commitment to AfricInvest Fund IV, a generalist Pan-African fund aiming to foster the growth of African enterprises across the continent. Fund IV will invest in mid-cap and growth-oriented companies in sectors including financial services, agribusiness, logistics, manufacturing, healthcare and education. Here Is What You Need To Know CDC, the UK’s impact investor and development finance institution, committed $50-million and Finnfund, the Finnish development financier, committed $20-million. AfricInvest Fund IV is aimed at general African enterprise growth through investing in mid-cap and growth-focused financial services, agribusiness, logistics, manufacturing, health and educational businesses, and will receive USD 50 million from CDC and USD...

Daily Digest Monday, 6 July 2020

Latest News Tennis star Serena Williams has launched a venture firm for investing in women, people of color, and young entrepreneurs The tennis legend publicly shared on Wednesday the details of her investment firm, called Serena Ventures. The venture-capital firm has been quietly backing companies since 2014 and has invested in more than 30 companies already. Read more Funding In Africa African Development Bank concludes R2 billion investment in Nedbank SDG-linked bonds The African Development Bank Group has concluded the investment of R2 billion (around $116 million) in Sustainable Development Goals-linked bonds (SDG bonds) issued by Nedbank South Africa. Read more Actis-Backed African Education Group, Honoris United Universities , Acquires ...

IFC, Proparco Invest $100m Into Humania For Investments In Healthcare In Egypt and Morocco

The IFC, a member of the World Bank group, the IFU, the Danish Investment Fund for developing countries, and PROPARCO, a subsidiary for the private sector of the French Development Agency (AFD) group, have made a capital investment of $ 108.5 million in Humania North Africa (Humania), a platform of private hospitals, helping to improve medical care in Egypt and Morocco.  Here Is What You Need To Know The investment envelope includes a contribution of $ 45 million for the IFC and $ 63.5 million mobilized from the IFU up to $ 43.5 million on behalf of the Danish investment fund SDG, and $ 20 million for PROPARCO.The financial...

ACTIS-BACKED AFRICAN EDUCATION GROUP, HONORIS UNITED UNIVERSITIES, ACQUIRES NIGERIAN UNIVERSITY

Honoris United Universities, an African Actis-backed education group, has added Nile University of Nigeria, a private university based in Abuja, to its extensive network. The group already owns private universities in Mauritius, Morocco, South Africa, Tunisia, Zambia, and Zimbabwe. This is its first acquisition in West Africa Actis launched Honoris United Universities, a private pan-African higher education network, in 2017 with a $275 million fund. Honoris United Universities harnesses the collaborative intelligence and the pioneering efforts of institutions to educate Africa’s next generations of leaders and professionals. Actis’s strategy for Honoris United Universities started with “beacon” markets in Francophone Africa.  In December 2014, it made an investment in Universite...

Webinar : Launch of the East Africa Regional Economic Outlook

The East African Regional Office of the African Development Bank will launch the 2020 Regional Economic Outlook virtually on Wednesday, 8 July 2020, at 14:30 East Africa Time. The report is part of the Bank’s flagship African Economic Outlook publication. The theme of the East Africa Regional Economic Outlook 2020 is Developing East Africa’s Workforce for the Future, which aligns with the Bank’s High 5 priority areas. This report discusses the impact of COVID-19 on the region’s economic outlook, its economic performance and implications for poverty reduction and job creation. The Outlook proposes multiple policy interventions to mitigate the socio-economic impact of COVID-19 on the region, and to harness growth...

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