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Japaul exits oil sector, to raise N27 billion as it switches to mining

Liepāja Japaul is exiting the oil industry after a protracted downturn experienced by operators in the sector. Indigenous oil Services company, Japaul Oil and Maritime Services Plc, has concluded plans to raise N27 billion ($70 million) in a share offer come November 2020. Money raised will be used to finance its switch to mining, as crude oil exploration and production operations wane due to the devastating impact of the coronavirus pandemic. Read Next Article:South African Startups Can Now Apply And Get Up To $5.7k From A New Accelerator Programme The company’s Chairman, Jegede Paul, admitted during an online interview in Lagos that the oil services firm (which currently provides offshore...

Daily Digest Thursday 20 August 2020

Funding In Southern Africa New capital loan fund launches for SA SMEs Founded by Yellow Pages which is owned by Telkom Business in partnership with fintech  Fundrr, the new capital loan fund aims to offer businesses who have been negatively impacted by the pandemic a lifeline in much-needed funding. Read more Funding In West Africa 500 STARTUPS MENTOR BRANDON DREW INVESTS IN THANKUCASH Nigeria’s leading multi-merchant rewards company ThankUcash is pleased to announce that serial investor Brandon L Drew has joined the company as an investor and advisor. Read more Call For Applications & Other Web-events South African Startups Can Now Apply And Get Up To $5.7k From A New Accelerator Programme Applications for this progamme close...

New capital loan fund launches for SA SMEs

Local SMEs can apply for a loan with the launch of a new capital load fund.  Founded by Yellow Pages which is owned by Telkom Business in partnership with fintech  Fundrr, the new capital loan fund aims to offer businesses who have been negatively impacted by the pandemic a lifeline in much-needed funding.  The new capital loan will allow businesses to grow their online presence and overall business model The impacts of Covid-19 have been far-reaching, resulting in thousands of South Africans losing their jobs and main source of income. This new capital loan funding will allow small and medium enterprises the opportunity to revive their businesses.  The dynamic partnership to create this new...

500 STARTUPS MENTOR BRANDON DREW INVESTS IN THANKUCASH

Nigeria’s leading multi-merchant rewards company ThankUcash is pleased to announce that serial investor Brandon L Drew has joined the company as an investor and advisor. Drew is the co-founder and General Partner at Saas Growth Ventures, a San Francisco-based venture fund. He specializes in operational efficiency, building and scaling of products that have achieved market penetration, and partaking in 3 exits across his 20+ years experience in the SaaS B2B space.  Co-founded by Simeon Ononobi, ThankUCash is a technology company powering rewards and loyalty for African banks and businesses. ThankUCash helps merchants grow revenue by connecting them to customers within and outside of their locations while retaining acquired customers...

South African Startups Can Now Apply And Get Up To $5.7k From A New Accelerator Programme

South African township-savvy entrepreneurs can now apply to a new accelerator programme, courtesy of Akro Accelerate (Pty) Ltd in partnership with Imvelo Ventures (Pty) Ltd. The digital accelerator offers to create new opportunities to black-owned and founded township startups. Here Is What You Need To Know Imvelo Ventures is a black-owned and black-managed VC and an approved SARS section 12J Venture Capital Company. The VC supports startups at their different stages of development, provided they hold high-growth potential. According to the organisers of the programme, the accelerator looks out for quality startup founders who are integral to any progress for a startup. Consequently, the accelerator ensures that Founder Growth is an essential...

APPLICATION OPENS FOR UNDP CREATIVES INNOVATION CHALLENGE COVID-19 GRANT IN KENYA

Registered youth-based organisations in Kenya have been invited to apply for the Creatives Innovation Challenge COVID-19 grant. The grant is part of the United Nations Development Programme‘s (UNDP’s) Accelerator Lab response and fights against misinformation in the country, with an emphasis on reaching across ethnic and minority divides. With this grant, the UNDP hopes to: Amplify COVID-19 messaging and support the Kenyan government’s pandemic response.Support livelihood opportunities for youth, women and people living with disabilities in the creative sector in Kenya.Increase social cohesion in the community by addressing issues of stigma, biases and harassment arising from the pandemic.Increase awareness of the role of the creative sector in responding to a crisis.  The selected organisations...

Daily Digest Wednesday 19 August 2020

Funding In North Africa Makwa secures six-figure Seed funding Makwa is a mobile app providing doorstep dry cleaning and laundry pick-up and delivery services. Customers use the app to schedule pickup and delivery time slots, give special washing/ironing instructions, track orders, review order history Read more Funding In Southern Africa SA-owned LightWare receives $1.5-million investment The investment funding provided will allow LightWare to rapidly create a series of innovative products using technology. Backed by 27four, Sanari Capital’s Lower and Mid Market Fund has made its first Read more Call For Applications & Other Web-Events GFA's Must Attend Web-Events for African Start-ups If you have any event recommendations for us to add to...

Makwa secures six-figure Seed funding

Cairo-based laundry services startup Makwa has raised a six-figure investment from an angel investor. The investment will be used to scale the team, upgrade its technology and accelerate its expansion into new areas. Makwa is a mobile app providing doorstep dry cleaning and laundry pick-up and delivery services. Customers use the app to schedule pickup and delivery time slots, give special washing/ironing instructions, track orders, review order history, rate the service and pay online. Makwa partners with high quality vendors in the areas in which it operates who clean customers’ clothes, while following Makwa’s manual and meeting its stringent specs. “The investment coupled with the investor’s experience will help us...

Lessons for entrepreneurs on how to survive and thrive during a pandemic

With 30 years of experience building technology companies around the globe, Butkow is the ex COO of Accenture South Africa and now the CEO of Kalon Venture Partners.  Many people speak about having a playbook to building technology companies, Butkow believes these playbooks can be valuable when times are good and you have strong tailwinds but during a downturn when you have massive headwinds, which is tantamount to facing a hurricane, you should throw these out the window.  “Every downturn I have seen requires a different approach and particularity with the Corona Virus which we don’t know when it will end and the ongoing impact it will...

GFA’s Must Attend Web-Events for African Start-ups

Women’s month and leading entrepreneurs  WorkInProgress (WIP), an Absa innovation lab, will be hosting a webinar series titled Wise-Up Wednesday Sessions. These sessions will feature real-life successes and lockdown challenges faced by small and medium South African enterprises.  This week,  Wise-Up Wednesday session sessions welcome a special webinar hosted in honour of Women’s Month. The webinar will welcome four inspiring women which will each offer a mini-masterclass fro entrepreneurs.  The four speakers are:  Aisha Pandor, co-founder of SweepSouth will take us through her 5 tips for starting up or managing your business during COVID.Joy des Fountain, co-founder of Myfanpark will be telling us about the advice she’d give her younger self, given the chanceAlexandra Fraser...

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