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Naspers Foundry Invests In The Food Service Industry, With Stake In Food Supply Network

Naspers Foundry, the venture capital subsidiary of the South African group Naspers, has concluded its third deal with an undisclosed investment in Food Supply Network (FSN), a food systems integrator. The subsidiary was launched in October 2018 with a fund of 1.4 billion rand ($85.2 million) and has already invested in two projects for a total of 130 million rand. “We’re extremely excited about our partnership with Naspers Foundry. Naspers brings unparalleled global experience, marketplace expertise, and extensive networks to the table. Their capabilities complement our own, as well as those of our existing partners at Venturen, who also participated in this round. Naspers shares our...

Profile: Rob Eloff

South African born Rob Eloff has spent his career investing, living and working in developing markets. Prior to co-founding Lateral Capital he was a Venture Partner with Conversion Capital and established Frontier Dawn Partners, an evergreen vehicle for capital deployment to early stage, technology enabled founding teams in sub-Saharan Africa. Rob started his career in capital markets at JP Morgan, Johannesburg, became an Executive Director at Goldman Sachs and Investment Director at ACI. He spent ten years based in Johannesburg, Moscow and London transitioning across hedge fund coverage and private equity buyout advisory in markets including sub-Saharan Africa, Eastern Europe and Latin America. Rob holds...

Daily Digest Friday, 18 September 2020

Funding In West Africa Cameroonian Start-up , Freshbag, Secures Investment From Greentec Capital Freshbag leverages on its network and in-depth experience in the industry, to buy produce from farmers and suppliers at fair market prices and dispatches the products to thousands of street vendors in cities across Cameroon. To further strengthen the ecosystem, Freshbag is offering micro loans and technical assistance to partner farmers, distributors, and vendors. Read more Funding In East Africa Palladium Acquires Minority Stake In Bamboo Capital Partners Bamboo and Palladium have joined forces to achieve their shared objective of mobilising private sector investment at scale to significantly contribute toward the UN’s Sustainable Development Goals by 2030. Read...

Morocco Launches New US$163m Windfarm To Boost Renewable Energy Utilization

MOROCCO – Morocco has launched the construction of the US$163 million Taza wind farm to boost renewable energy utilization in the country. According to a statement by Morocco World News the launch “follows the finalization of various agreements and contracts with Moroccan public entities, stakeholders ‘ONEE and MASEN’ and the establishment of financing provided by international banks.” The wind farm will be constructed through a partnership between France’s EDF Renewable Energies (EDF-EN), Japanese trading house Mitsui, the Moroccan Agency for Sustainable Energy (MASEN), and Morocco’s National Office of Drinking Water and Electricity (ONEE). A statement from Moroccan authorities revealed that the Taza wind farm will be located approximately 15 kilometers...

Anzisha Prize Announces Top 20 Very Young African Entrepreneurs As Part Of 10th Year Celebration

The Anzisha Prize has revealed its top 20 finalists for 2020. Winners will be announced at this year’s Anzisha Prize Conference on the 27th of October, where the programme will be celebrating 10 years of supporting very young entrepreneurs. Meet the new cohort of very young entrepreneurs whose businesses are paving a new entrepreneurial landscape in Africa This year’s application season saw a record number of 1 200 applicants vying for a chance to join the Anzisha Prize fellowship. From these applications, 20 businesses emerged that were forty-five percent female-owned and represented sectors such as agriculture, manufacturing, and education. Young entrepreneurs from Morocco, South Africa, and Tanzania displayed...

Palladium Acquires Minority Stake In Bamboo Capital Partners

Bamboo Capital Partners, the impact investing platform, and Palladium, the global impact advisory and management firm, have entered a long-term strategic partnership to deliver impact at scale, a joint press release from the two firms has stated. Under the terms of the strategic partnership, Palladium has taken a minority stake in Bamboo. Bamboo and Palladium have joined forces to achieve their shared objective of mobilising private sector investment at scale to significantly contribute toward the UN’s Sustainable Development Goals by 2030. The strategic partnership combines Bamboo’s knowledge of institutional and private sector investors and its track record of impact investing in emerging markets, with Palladium’s global footprint, sector...

South Africa Needs To Scale Its Creative Economy [Opinion]

In order for South Africa’s economy to transition to keep up with 4IR developments, Glenn Gillis, CEO of Sea Monster, explains that we need to scale our creative economy. If South Africa is to ever thrive, it needs to evolve and truly start to compete in the knowledge economy. Until our economy is realigned around how we can sell world-class thinking and creative skills, services, and time, with intangible products at the core, we will always be fighting the last war and not the next one. The key here is using your skills to develop a complete business solution, embodied in a set of processes, tools, apps, or experiences...

Cameroonian Startup, Freshbag, Secures Investment From Greentec Capital

Freshbag, a Cameroonian agri-tech startup, has secured an undisclosed investment from GreenTec Capital Partners, a German investor into African start-ups and SMEs. Freshbag is an innovative digital Cameroon platform that connects farmers and vendors to ensure a fair and reliable food supply network. The company works hand in hand with agricultural cooperatives to facilitate the collection of crops and their transport to urban centers for distribution to help them improve their incomes and reduce post-harvest losses. Freshbag leverages on its network and in-depth experience in the industry, to buy produce from farmers and suppliers at fair market prices and dispatches the products to thousands of street vendors in...

Egyptian prop-tech startup Isqan raises 6-figure pre-seed funding round

Egyptian prop-tech startup Isqan has raised a six-figure US dollar pre-seed funding round as it launches its new platform designed to revolutionise the country’s real estate sector. Founded last month by Ali Ezzat and Karim Hazem, Isqan is a listings platform for users looking to rent or buy properties in Egypt.  The startup, which only went live with its offering in August, says it combines a user-friendly interface with a free services offering. Isqan has partnered a number of Egyptian real estate companies to offer users a wide range of trusted options.  Read also; Grant worth $25 000 launches for young SA filmmakers Isqan raised the six-figure pre-seed...

Senegalese delivery startup Yobante Express has expanded to five African markets

Senegalese delivery startup Yobante Express now active in five African markets outside of its home country as it continues to expand its solution across the continent. Founded in November 2018, Yobante Express is an online marketplace that connects local couriers with local commerce to optimise domestic, cross-border and last mile delivery. Its web and mobile platform uses gig economy, independent and casual couriers within a resilient mesh network of relay points to deliver packages from point to point until the last mile, twice as fast and 40 per cent more affordably than existing solutions.  Read also; Ghana’s Africa Foresight Group Plots Expansion To 3 New Markets Post-Funding Disrupt Africa reported in November...

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