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Africa Netpreneur Prize teams up with Ashesi, Dalberg, Janngo, RiseUp, ALU for 2020 Pitch

The Jack Ma Foundation’s Africa Netpreneur Prize Initiative (ANPI) has teamed up with the African Leadership Group, Ashesi, Dalberg, Janngo, and RiseUp as its anchor partners for the second edition of Africa’s Business Heroes prize competition (ABH). Africa Netpreneur Prize officially launched applications on April 6 and aims to work with the local partners to promote the ABH prize competition in their respective regions, helping to identify and engage with potential applicants. According to Jason Pau, Senior Advisor for International Programs for the Jack Ma Foundation, “We are honored to be able to work closely with these exceptional local partners to bring the Africa’s Business Heroes prize competition to all corners of Africa and spotlight...

How Tanzanian agri-tech startup East Africa Fruits plans to scale after $3.1m Series A round

Tanzanian agri-tech startup East Africa Fruits hopes to with more than 10,000 farmers and 15,000 businesses, and expand into new verticals, after raising US$3.1m Series A funding last month. Founded by social entrepreneur Elia Timotheo in 2013, East Africa Fruits addresses food distribution challenges to improve efficiencies in the farm-to-market sector via a B2B e-commerce platform. The company trades and markets fresh fruits, vegetables and rice for supply to hotels, restaurants and cafes, supermarkets and shops, local vendors and export customers.  “For smallholder farmers who need access to markets at good prices and consumers of fresh produce who need affordable high-quality produce, we are a fresh produce distribution company that...

Nigerian e-health startup First Medtrade launches online medical market

Nigerian e-health tech startup First Medtrade has launched its online medical market to supply essential medical consumables to hospitals and other health facilities across Nigeria.  First Medtrade aims to empower hospitals with a consistent and convenient way to purchase life-saving medical consumables which are critical to delivering quality care to patients. The startup’s platform offers a range of specialised medical consumables, such as radiology, cardiac, renal, laboratory, orthotics, prosthetic implants and orthopaedic, and theatre consumables, and a host of other devices and tools used with a hospital or surgical environment.  “With healthcare facilities stretched due to COVID-19, there is an even greater need for specialised medical consumables. Hospitals in...

Daily Digest, Thursday 18 June 2020

Funding In Africa Africa-focused fintech Chipper Cash nets $13.8m Series-A round The funding caps an event filled for the San Francisco-based payment company, founded by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled two years ago. Read more TransferGo raises $10M additional funding, launches in 11 new markets The startup is also announcing it has launched in 11 new markets, including Japan, New Zealand, Saudi Arabia, Singapore and Ghana. That’s a doubling down on South East Asia and African market expansion, beyond its original focus on Europe. Funding In Southern Africa South Africa: Zeder Investments sold its stake in Quantum Foods South African agribusiness investor Zeder announced it has sold its...

South Africa: Zeder Investments sold its stake in Quantum Foods

South African agribusiness investor Zeder announced it has sold its 32.1% stake (61.6 million shares) in the animal feed company Quantum Foods Holding Limited to Country Bird Holdings, a company operating in the same business segment as Quantum. The transaction was carried out through Zeder’s subsidiary Zeder Financial Services. Zeder Investments will use the R308.1 million ($18 million) cashed from this sale to strengthen its cash reserves and recapitalize its subsidiaries if necessary, during this health crisis period. The firm is also looking for new investment opportunities in promising sectors. Download GetFundedAfrica's e-Guide to fundraising for start-up's Here The operation will allow Country Bird to continue its expansion...

Zedny an Egyptian Edtech Startup Bags $1.2m Pre-seed Funding

Zedny, an Egyptian edtech platform where users can learn in Arabic, has secured $1.2 million funding from angel investors. The platform which was recently launched boast of over 200 online courses and 400 animated video summaries of global business bestsellers, as well as 5,000+ hours of learning. Zedny which has already expanded to the Middle East is focused on persons who are looking to develop their business skills and acquire general knowledge. It also targets people looking for jobs and employees who want to climb the corporate ladder. Zedny provides year-long online learning and development at a fraction of the cost of one offline training course for an...

[Apply] Suguba Investment Readiness Program For Digital Francophone West Africa Startups

Suguba in partnership with Mercy Corps and the French Development Agency (AFD) is organizing its second 6-month investment readiness programme in Francophone West Africa to support the 8 most promising startups digital sector. The second programme is tagged Afrikhaliss and it is aimed at digital startups with impactful solutions for local and regional value chains. The program targets companies that already have a product or service on the market and are generating revenues. However, applications from companies not yet generating revenue will also be considered. Eligible companies are based or generate at least 75% of their turnover in one or more of the following markets in Francophone West Africa: Benin, Togo,...

Africa-focused fintech Chipper Cash nets $13.8m Series-A round

African fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital.It’s been two years since its establishment and Chipper Cash has raised $22 million on total capital, providing mobile-based, fee-free P2P payment services in seven countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya.According to the co-founder Serunjogi, the company will utilise its latest round to hire up to 30 people across operations in San Francisco, Lagos, London, Nairobi and New York. African transnational fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital, with aims to recruit 30 new workers...

TransferGo raises $10M additional funding, launches in 11 new markets

TransferGo, the London-based international money transfer service, has raised another $10 million in funding, as it discloses that its customer numbers have surpassed two million. The round was co-led by Seventure and Vostok Emerging Finance,  with follow-on funding from Hard Yaka, Revo Capital and Bootstrap Europe. The startup is also announcing it has launched in 11 new markets, including Japan, New Zealand, Saudi Arabia, Singapore and Ghana. That’s a doubling down on South East Asia and African market expansion, beyond its original focus on Europe. Founded in 2012, TransferGo’s  customer base is predominantly made up of migrants who send money home to their families. It positions itself as offering one of...

Morocco Launches Exceptional Support Program for Artists, Authors

The Kingdom of Morocco has highlighted the importance of arts and culture as a vehicle not only for national reorientation and foreign policy projection but also to encourage young talents. This was made known by the Moroccoan Minister of Culture, Youth, and Sports, Othman El Ferdaous, who announced the launch of an exceptional program to support cultural actors from the worlds of art and books amid the socio-economic crisis due to COVID-19. El Ferdaous detailed the ministry’s decision on his social networks, including Facebook and LinkedIn. The minister said his department is aware of the national contributions of creators such as artists and writers and their efforts to...

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