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Kenyan e-health startup Access Afya among first to receive funding from MIT Solve as part of $900k round

Kenyan healthcare startup Access Afya has become one of the first investments made by MIT Solve through its new venture vehicle, as part of a US$900,000 bridge funding round. MIT Solve is an initiative of the Massachusetts Institute of Technology (MIT), which identified tech-based social entrepreneurs through open innovation challenges and helps them drive transformational impact.  Launched by Solve last year, Solve Innovation Future is a philanthropic venture vehicle that uses debt, equity, and alternative structures to invest in entrepreneurs driving social and environmental impact. Read Other Article: Healthcare Startup Emergency Response Africa Secures $25,000 From The Bulb Africa Startups are selected annually through Solve’s open innovation challenges, and backed with amounts...

yolda Raises $830K in Seed Funding

yolda, a Turkish digital logistics startup, raised $830K in seed funding. The round was led by Collective Spark with participation from angel investors Barbaros Özbuğutu (founder of iyzico), Florian Gschwandtner (founder of Runtastic), Marcus Mosen (investor in N26, iyzico) and Stefan Kalteis. Read other: How Waste Is Turning To Wealth Across Africa The company intends to use the funds to expand its team and increase automation and operational efficiency. Co-founded by Volkan Özkan and C. Murad Özsert, Yolda is a digital logistics operator providing a marketplace service that offers partial shipment services to businesses through automating transportation processes and digitizing logistics operations. Companies can also track their shipments...

Universal Launches Def Jam Africa as Its Latest Big Bet on the Continent

Def Jam is going international. A little more than a half a year after launching Def Jam South East Asia, Universal Music Group today announced Def Jam Africa, a new division based in Johannesburg, South Africa, and Lagos, Nigeria, that will focus on "hip-hop, Afrobeats and trap talent in Africa" and report to Universal Music Sub-Saharan Africa & South Africa Managing Director Sipho Dlamini. Over the past few years, the major labels have invested more aggressively in Africa – both to market streaming services and, especially, to sign talent -- and Universal now has offices in South Africa, Nigeria, Kenya, the Ivory Coast, Cameroon, Senegal, and Morocco. Until...

Daily Digest Tuesday, 26 May 2020

Latest Report shows African regulators are holding back growth of cryptocurrency on continent While the rapid adoption of cryptocurrencies may be likely in Africa — given the continent’s high inflation rates, volatile currencies and underdeveloped banking — regulators are holding back its growth, a new report has found. Read more Funding In Southern Africa Development Partners International invests $56mln in Sicam Development Partners International (DPI), through its third fund, made a $56 million investment in Société industrielle des conserves alimentaires (Sicam). The transaction represents the second commitment of African Development Partners III (ADP III) and the first in the Tunisian agribusiness sector. Read More Funding In Africa Mozilla, via its...

Must-attend Events For The Energy Sector

The Power & Energy Series from Clarion Energy continues to have an extensive presence in Africa over the next year including events in Kenya, Nigeria & South Africa. Following the acquisition of PennWell Corporation last year, Clarion Energy now runs DISTRIBUTECH, Future Energy, HydroVision, POWERGEN & Utility Week events on a worldwide scale. Take a look at the must-attend events for the sector taking place in Africa below. Future Energy East Africa Date: 1-2 September 2020Venue: Nairobi, KenyaEvent: Future Energy East Africa is the largest and longest running regional power conference and exhibition in East Africa, making it a well-known and trusted brand. With an expected audience of more than 1,800 power and T&D professionals from...

Mozilla, via its incubator, wants to invest up to $75k in African early-stage startups

US-based Internet company, Mozilla, known for its Firefox browser, is also known for its mantra of placing people and their privacy over profit. In March, the company, via its Spring MVP Lab, began soliciting for ideas on how to “fix the internet”. As a result, up to 1,500 people submitted 520 projects, 25 of which were selected to be part of the 8-week-long programme which started in April. With the Spring MVP Lab winding down, Mozilla is taking things up a notch. Related Articles: After Years In Search Of Funding, South Africa’s Ed-tech Startup Syafunda Raises $140k Funding To Scale This time, it’s launching a full-fledged online incubator, Mozilla Builders Incubator,...

Downtown Acquires Sheer Music Publishing, Africa’s Largest Independent Publisher

Sheer Music Publishing Joins Downtown’s Portfolio Of Global Music Businesses To Bring Enhanced Services to African Creators And Expands Downtown’s Global Footprint To Sub-Saharan Africa Global music company Downtown Music Holdings (Downtown), announced today that it has acquired South Africa-based Sheer Music Publishing (Sheer). Building on a long-standing relationship between Sheer and Downtown’s eponymous music publishing division, this acquisition formally expands the company’s geographic footprint to the African continent, while also providing the African music industry greater access to artist and label services available through Downtown. Sheer, the largest independent music publisher in Africa and a longstanding advocate for creators’ rights across Africa, will continue to function...

Africa Data Science Intensive (DSI) Program 2020 for African Students (Fully-funded)

Application Deadline: 31st May 2020. Note due to the impact of Covid-19, this year's program will still be divided into 4-modules but the first 3 will be done online and the final module will be a 2-week workshop hosted in Cape Town in January 2021. You will only be eligible to attend the final workshop upon completion of the first 3 modules. About the Award: Big Data, data science, machine learning and artificial intelligence are driving a revolution around the world as companies rush to take advantage of their data and turn it into a competitive advantage. However there is a shortage of skilled data scientists and managers worldwide...

Development Partners International invests $56mln in Sicam

Development Partners International (DPI), through its third fund, made a $56 million investment in Société industrielle des conserves alimentaires (Sicam). The transaction represents the second commitment of African Development Partners III (ADP III) and the first in the Tunisian agribusiness sector. Created in 1969, Sicam, which is wholly controlled by the Tunisian conglomerate Groupe Bayahi, is the leader in the Tunisian tomato market. The private equity fund manager DPI is joining forces with the Bayahi Group to strengthen its position on the Tunisian market and steer its international expansion strategy. Related Articles: After Years In Search Of Funding, South Africa’s Ed-tech Startup Syafunda Raises $140k Funding To Scale “Tunisia...

Latest Report shows African regulators are holding back growth of cryptocurrency on continent

While the rapid adoption of cryptocurrencies may be likely in Africa — given the continent’s high inflation rates, volatile currencies and underdeveloped banking — regulators are holding back its growth, a new report has found. The State of Crypto: Africa report, released last week by SA founded cryptocurrency platform Luno in conjunction with Norwegian research organisation Arcane Research, reveals that the legality of Bitcoin and other crypto assets varies significantly across the region, with over 60% of African governments yet to clarify their position. “While some nations maintain a positive stance, multiple counties have issued complete or partial bans. For whatever reason, North African countries have taken the most hostile...

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