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Daily Digest Monday, 15 June 2020

Funding In Africa Nigerian health startup Mobihealth, four others win Sanofi AfricaTech challenge 2020 Sanofi, a biopharmaceutical company, has announced five winners in the finals of AfricaTech Healthcare Challenges 2020. Read more The 100MEs by 2021” Programme for Africa’s MSME’s Launched Efforts to pool African resources, capabilities, financing, market access and technology, to help achieve a continental response to MSMEs has been launched with the collaboration of AUDA-NEPAD (the African Union Development Agency) and Ecobank Group as both agreed to commit resources to Africa’s Micro Small and Medium Enterprises (MSMEs). Read more Funding In Southern Africa South African Startup LifeCheq Raises Funding From VC Firm Futuregrowth South Africa’s Futuregrowth Asset...

The 100MEs by 2021” Programme for Africa’s MSME’s Launched

Efforts to pool African resources, capabilities, financing, market access and technology, to help achieve a continental response to MSMEs has been launched with the collaboration of AUDA-NEPAD (the African Union Development Agency) and Ecobank Group as both agreed to commit resources to Africa’s Micro Small and Medium Enterprises (MSMEs). The second virtual workshop facilitated by McKinsey over the weekend provided an opportunity to reaffirm the importance of sustaining market access and strengthening capabilities for MSMEs. During the session, high level representatives from the African Union Commission, regional development banks, development financial institutions, international organisations and commercial banks from the continent, agreed to put in place...

South African Startup LifeCheq Raises Funding From VC Firm Futuregrowth

South Africa’s Futuregrowth Asset Management through the Futuregrowth Development Equity Fund (DEF) has invested in LifeCheq, a digitised holistic personal finance business that aims to make expert advice accessible to professionals and entrepreneurs who are currently not served well by the existing financial advice industry. The business has two target markets, mainly individuals for their personal use; and employers, who are interested in offering their employees a financial wellness programme. These potential markets give it diverse sources of revenue and expand the reach of the business across a variety of individuals and company employee bases, says the company. Download GetFundedAfrica's e-Guide to fundraising for start-up's Here Futuregrowth notes that LifeCheq’s competitive edge...

Kenyan Solar Startup d.light Secures $65 Million Debt Funding From Solar Frontier Capital

Solar Frontier Capital Limited and solar energy startup d.light, a leading global innovator of solar energy products, have jointly announced the establishment of a KSh6.5 billion ($65 million)financing vehicle to be known as Brighter Life Kenya 1 (BLKI) Limited. The off-balance sheet financing vehicle is dedicated to acquiring pay-as-you-go solar home system accounts receivables from d.light’s Kenyan subsidiary to provide the company with flexible, working capital to finance its continued growth.BLK1 is expected to finance the provision of improved energy access to 1.2 million people in Kenya, coming on the heels of d.light celebrating its 100 millionth customer. Download GetFundedAfrica's e-Guide to fundraising for start-up's Here Part of BLK1...

Nigerian health startup Mobihealth, four others win Sanofi AfricaTech challenge 2020

Sanofi, a biopharmaceutical company, has announced five winners in the finals of AfricaTech Healthcare Challenges 2020. The finals held online on Thursday, June 11 and saw Mobihealth International, a Nigerian startup and telehealth platform, emerge as winner in its category of challenge. The challenge on ‘How to help healthcare systems leapfrog from manual to smart logistics solutions at point of care’ was aced by Mobihealth International which is Africa’s first fully integrated telehealth electronic medical records and video app. Its mission is to use telemedicine to provide people in developing countries with access to quality healthcare services in the most cost and time effective way, anytime, anywhere. A total...

[Opinion] 10 Tips For Entrepreneurs To Get A VC Funding Round Closed

Closing a round of venture funding is extremely hard work. Many entrepreneurs fall at the first hurdles, either making mistakes approaching investors or during their first pitch meeting. For those entrepreneurs who are invited back for a second meeting and start to engage more deeply with a VC, new challenges start to present themselves. Every round is unique. Myriad internal and external factors impact the outcome. Some things are within your control, many are not.   To give yourself the best chance of a positive outcome, here are some tips that apply to every round. Raise as early as you can. Going out to raise when you are nearly out of cash...

Making Finance Work For Agriculture in Africa [Part 1]

IntroductionAgriculture as a wealth sectorAgricultural imports and exportsAgriculture’s contribution to employment in AfricaUnlocking agriculture value chainsTaobao Villages?The profile of a typical e-commerce shop ownerWhere to go from here Introduction On Tuesday 9th, June 2020, Co-Founder of GetFundedAfrica (GFA Capital) - Debo Omololu, participated as a Guest Panelist at the Agric Investment Summit alongside Onyeka Akuma (CEO FarmCrowdy). These types of corporate events now hold particular significance when we consider recent developments in the global economic landscape, with the almost default shift in focus to "other" sectors such as Agriculture, because of the plunge experienced by the Oil Industry. The Agric Investment Summit , focused on areas such as...

Daily Digest Friday, 12 June 2020

Funding In East Africa TELECOMSAirtel Africa at 10: yuMobile subscriber, Tigo Rwanda acquisitions, $1.25bn raise and other milestones Airtel Africa’s voice, data and mobile money services are driving growth and Transforming Customers’ lives. Airtel Africa provides voice services to 110.6m customers, data services to 35.4m customers and mobile money services to 18.3m customers. Read more Ethiopian Edible Oils Business Turaco Raises US$22m Growth capital From Proparco Turaco, the Ethiopian edible oils company and owner of the brand name Tena Oil, has a new funding from the French development financial institution Proparco and the South Africa-based Ethos Mezzanine Partners. The business has announced a US$22 million investment from both investors. Read more Funding In...

Ethiopian Edible Oils Business Turaco Raises US$22m Growth capital From Proparco

Turaco, the Ethiopian edible oils company and owner of the brand name Tena Oil, has a new funding from the French development financial institution Proparco and the South Africa-based Ethos Mezzanine Partners. The business has announced a US$22 million investment from both investors.  The Main Points With the new investment, Turaco will fund the expansion of its manufacturing operations, carried on by Health Care Food Manufacturers SC and ZAK Ethiopia Manufacturing & Trading Plc.Some of the capital will also be applied to upgrading these facilities to meet IFC performance standards relating to Environmental, Health, Safety and Governance.According to a press-release by Proparco, the deal was structured and arranged by African...

Ethos, Proparco support Ethiopian Turaco’s expansion plan with $22mln

The South African private equity firm Ethos and French Development Agency’s private sector arm -Proparco- announced an investment of $22 million to support the expansion plan of the Ethiopian retailer Turaco, which specializes in the manufacture and marketing of consumer products. Turaco is managed by 54 Capital PE Advisors. This mezzanine financing transaction, which combines capital injections and loans, is being deployed by Proparco for the first time in Ethiopia. The beneficiary of this resource aims to expand its facilities to increase its production of edible oils and personal care products. “We are looking forward to having institutional investors like Ethos and Proparco as partners in this next...

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