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Alrosa signs a joint venture with ZCDC to develop diamond deposits

ZIMBABWE – The Government of Zimbabwe is on the verge of striking a US$450 million deal with a diamond mining company for the production of 850 000 carats of diamonds, through the Zimbabwe Consolidated Mining Company, as part of efforts to increase earnings to US$1 billion by 2023. Mines and Mining Development Minister Winston Chitando said the agreement would complement the plan to recapitalise ZCDC (Zimbabwe Consolidated Diamond Company) in the next few months to increase production. Minister Chitando said the US$1 billion target for diamonds was premised on the production of two million carats per annum. “ZCDC will be recapitalised in the next few months to bolster its...

Daily Digest Monday 27 July 2020

Funding In Southern Africa South-Africa- Morocco : PIC invests USD 50 million in Aradei Capital The Public Investment Corporation (PIC), on behalf of its client, the Government Employees Pension Fund (GEPF) of South Africa, has acquired a 13% stake in Aradei Capital for USD 50 million. Read more Vantage Capital provides R82m funding for development of Kayalane Heights Vantage Capital (VantageCapital.co.za), Africa's largest mezzanine fund manager, announced today that it has provided R82 million of mezzanine funding for the development of Kayalane Heights, a first-of-its-kind affordable housing development located in Lebowakgomo, Limpopo. Read more Funding In Africa Facebook’s Investing $57 Billion in Africa’s Economy According to The Economist Intelligence Unit – Inclusive Internet...

Vantage Capital provides R82m funding for development of Kayalane Heights

The promoter of the transaction is the Alleyroads Group, a leading South African black-owned property development company led by Ivan Pretorius. Vantage Capital (VantageCapital.co.za), Africa's largest mezzanine fund manager, announced today that it has provided R82 million of mezzanine funding for the development of Kayalane Heights, a first-of-its-kind affordable housing development located in Lebowakgomo, Limpopo. The promoter of the transaction is the Alleyroads Group, a leading South African black-owned property development company led by Ivan Pretorius. Since its inception in 2009, Alleyroads has built more than 3,000 residences across South Africa including over 1,500 affordable homes. The current housing shortage in South Africa is extensive, the government estimates that there is a...

Senegalese Waste Recycling Startup E-cover SAS Raises $382k From WIC Capital

A Dakar-based waste recycling startup, E-cover SAS founded by a 25-year-old Senegalese Yaye Souadou Fall has secured 216 million CFA Francs ($382k) from WIC Gestion, manager of the WIC Capital Fund. WIC Gestion, manager of the WIC Capital Fund, is pleased to announce that it has completed an investment in E-cover SAS, an innovative tire recycling startup based in Dakar, Senegal. WIC Capital invested XOF 216 million alongside a group of individual equity and quasi-equity investors. E-cover specializes in tire recycling, which it transforms into two main products: SBR, mainly used for the installation and maintenance of synthetic turfgrassGranulates, an intermediate product, used as a fuel by cement plants...

South-Africa- Morocco : PIC invests USD 50 million in Aradei Capital

The Public Investment Corporation (PIC), on behalf of its client, the Government Employees Pension Fund (GEPF) of South Africa, has acquired a 13% stake in Aradei Capital for USD 50 million. Aradei Capital is a real estate platform headquartered in Morocco that specializes in commercial real estate assets. It has a presence in 15 cities across Morocco. Through this investment, the PIC joins other reputable investors in Aradei Capital that include the European Bank for Reconstruction and Development (EBRD), Label’Vie (LBV), a leading food retailer and franchisee of the Carrefour brand in Morocco, SANAM Holding and Best Financière which has interests in large and medium retail...

Facebook’s Investing $57 Billion in Africa’s Economy

Facebook released findings from The Impact of Facebook’s Connectivity Initiatives in Sub-Saharan Africa, a study conducted by Analysys Mason that highlights how Facebook investments in infrastructure and connectivity across the region will deliver over $57 Billion in Economic Benefits over the next five years (2020–2024). According to The Economist Intelligence Unit – Inclusive Internet Index 2020, over 800 million people in Sub-Saharan Africa are unconnected to the Internet. Facebook’s infrastructure investments and connectivity initiatives include the following: Investing in Infrastructure that supports Internet connectivity Submarine cables – Will enable an increase in the supply of international bandwidth, reduction in costs for ISPs and resulted in a combination of more connectivity and...

Daily Digest Friday 24 July 2020

Funding In North Africa Tunisian telecoms VAS content aggregation startup Galactech raises 6-figure investment Tunisian startup Galactech, a telecom VAS content aggregator, has raised a six-figure funding round to help it further develop its product and expand internationally. Launched in 2016, Galactech Read more 10 Tunisian Cultural Ventures Awarded Up To $300k In Grant Funding By Tfanen-Tunisie Créative Tfanen-Tunisie Créative has awarded grant funds to 10 Tunisian private cultural companies that have proposed projects within the framework of the Local Cultural Engagement Fund in Tunisia 2020. Read more Funding In Southern Africa Impact Amplifier, Google.org launch $1m Africa Online Safety Fund South African social impact advisory firm Impact Amplifier has partnered Google.org and...

Impact Amplifier, Google.org launch $1m Africa Online Safety Fund

South African social impact advisory firm Impact Amplifier has partnered Google.org and the UK-based ISD to launch the Africa Online Safety Fund, a US$1 million initiative that seeks innovative solutions to online safety challenges. Over 500 million people have access to the internet in Africa, and while the huge increase in internet, smartphone and mobile network usage has created many new opportunities for socio-economic development on the continent, it has also led to a range of safety concerns. These include identity theft, bullying and harassment, sex trafficking, hate crimes, terrorist recruitment and promotion, misinformation and disinformation, and financial scams. The Africa Online Safety Fund has been established...

Tunisian telecoms VAS content aggregation startup Galactech raises 6-figure investment

Tunisian startup Galactech, a telecom VAS content aggregator, has raised a six-figure funding round to help it further develop its product and expand internationally. Launched in 2016, Galactech offers content creators and startups the opportunity to sell their products in gaming, VoD, and utility to mobile network operator (MNO) clients. The startup, which recently took part in the Orange Fab Tunisia accelerator and previously raised US$200,000 in seed funding, has now raised a six-figure investment from the Oman Technology Fund (OTF) and other business angels. Galactech, which allows content creators and startups to provide value added services (VAS) to African and Middle Eastern MNOs, will use the funding to enter...

10 Tunisian Cultural Ventures Awarded Up To $300k In Grant Funding By Tfanen-Tunisie Créative

Tfanen-Tunisie Créative has awarded grant funds to 10 Tunisian private cultural companies that have proposed projects within the framework of the Local Cultural Engagement Fund in Tunisia 2020. The projects aim to enhance social and cultural diversity, participation citizenship and the socio-cultural integration of minorities and / or support for access to culture in neighborhoods, rural areas, or remote regions. Each company will benefit from a grant ranging from 30,000 to 300,000 TND. Here Is What You Need To Know The call for projects was launched on February 14, 2020, and closed on March 12, 2020 with the receipt of 63 application files, but following the coronavirus pandemic, applicants...

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