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Microsoft SA invests R40-million in SA agriculture sector

Delaware Microsoft South Africa has announced an investment of up to R40-million in South Africa’s agriculture sector, which is one of the country’s critical industries driving growth and job creation. The investment is aimed at driving sustainability in the sector for smallholder farmers, who form an important part of the agricultural workforce in the country.  Microsoft SA will partner with local tech companies to develop innovative solutions to challenges faced in the agricultural sector Over two million of these farmers help reduce poverty for local communities and establish food systems for South Africa and the wider southern African region. However, they face challenges that prevent them from becoming commercially viable, efficient, and sustainable. Lillian...

Nigerian transport startup Plentywaka raises $300k to launch in Abuja

Plentywaka has secured $300 000 in investment funding and plans to launch in Nigeria’s capital.   Plentywaka, the transport startup, has raised a $300,000 pre-seed investment led by EMFATO, Microtraction, and Niche Capital. The innovative startup will use the investment to continue to transform the transport system in Nigeria with improved mapping technology.   Plentywaka has secured $300 000 in investment funding and will expand its businesses across Nigeria The new funding will build on its customer experience with developments to the app’s mapping technology to provide more precise tracking for journeys. In addition to improving its services, users will have access to faster and simpler payment options for the various Plentywaka services...

Daily Digest Tuesday 4 August 2020

Funding In Africa New early-stage Venture Capital Fund to back cohort companies launches South African based business accelerator, Grindstone has launched a new Venture Capital Fund, Grindstone Ventures, dedicated to providing early-stage equity funding to its cohorts of companies and alumni. Read more Through AFAWA, the Bank seeks to bridge the $42 billion financing gap faced by women-empowered businesses Marieme Esther Dassanou is the Coordinator of Affirmative Finance Action for Women in Africa (AFAWA) the African Development Bank’s flagship pan-African initiative, which aims to bridge the $42 billion financing gap facing women entrepreneurs in Africa Read more Kenya’s Ride Hailing Firm Gets $3 Million Boost With the expectant competition in ride hailing...

New early-stage Venture Capital Fund to back cohort companies launches

South African based business accelerator, Grindstone has launched a new Venture Capital Fund, Grindstone Ventures, dedicated to providing early-stage equity funding to its cohorts of companies and alumni. Grindstone Accelerator is a structured entrepreneurship development programme that is jointly owned by leading venture capital fund manager Knife Capital and market access specialist Thinkroom Consulting. The programme assists South African SMEs with proven traction through an intensive year-long review of their strategies and provides them with the necessary support to build a foundation for growth to become investable, sustainable and exit-ready. Grindstone Ventures is an open-ended venture capital fund structure, set to invest up to R5-million per opportunity During the programme, key growth gaps...

“Through AFAWA, the Bank seeks to bridge the $42 billion financing gap faced by women-empowered businesses”

(AfDB) - Marieme Esther Dassanou is the Coordinator of Affirmative Finance Action for Women in Africa (AFAWA) the African Development Bank’s flagship pan-African initiative, which aims to bridge the $42 billion financing gap facing women entrepreneurs in Africa. She previously led IFC’s Gender Secretariat's work on advancing women's inclusion in the insurance and financial sectors. In this interview, she outlines progress made with the AFAWA initiative and its future plans. You recently joined the African Development Bank as AFAWA coordinator. Can you tell us more about the initiative? AFAWA is a pan-African initiative launched by the African Development Bank at its Annual Meeting in Lusaka, Zambia in May...

Top startup web events in South Africa this week

Startup financing  Hosted by Waxdale Ecosystem Inc, the webinar focuses on their ventures initiative, FndrVestr. The new platform which has launched allows entrepreneurs to pitch their idea to investors through audio. The webinar focuses on how to access financing for startups and will expand on how to use the new platform. The platform serves to create endless opportunities for those seeking financing for their startup.  Date: 3 August, 7pmLocation: Zoom  Startup launcher programme  Waxdale has created a Certified Launcher Programme and will be hosting a webinar at the necessary software tools with weekly online meet ups. The launcher programme is free to join and aims to help startups launch their business within 60 days. The weekly...

Kenya’s Ride Hailing Firm Gets $3 Million Boost

With the expectant competition in ride hailing business subsector across the continent, existing operators are working on boosting the competitive edge of their brands. This probably informs the latest investment worth $3 million (Kshs 324 million) by Craft Silicon in its ride hailing  subsidiary, Little for expansion. With this boost, Little will use the additional funding to launch operations in West Africa, where they are piloting the app service in Accra, Ghana. There are also talks that Nigeria is on the radar. Craft Silicon and Little CEO, Kamal Budhabatti “We have already started testing the product in Accra. Since travel may be an issue, we are taking an...

Daily Digest Monday 3 August 2020

Funding In Southern Africa Vantage provides R82m of funding for Alleyroads Vantage Capital, Africa’s largest mezzanine fund manager, has provided R82m 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 REMITLY ANNOUNCE AN $85M FINANCING ROUND LED BY PAYU Remitly is an international digital remittance company established in 2011 and headquartered in Seattle, USA. It transfers over $6 billion in annualized volume through its proprietary global money transfer network across Africa, Asia, Central Europe, and South America. Read More Funding In West Africa InfraCo Africa commits $6m to Bumbuna Hydro II The funding forms part of a...

REMITLY ANNOUNCE AN $85M FINANCING ROUND LED BY PAYU

Remitly has announced an $85 million financing round led by PayU joined by returning partners DN Capital, Generation Investment Management, Owl Rock Capital, Princeville, Stripes, Threshold Ventures, and Top Tier. Remitly is an international digital remittance company established in 2011 and headquartered in Seattle, USA. It transfers over $6 billion in annualized volume through its proprietary global money transfer network across Africa, Asia, Central Europe, and South America Remitly intends to use the funds to expand its suite of financial services products and digital solutions. “As the current health crisis continues to devastate the global economy and disproportionately impact developing countries around the world, immigrants are increasingly turning to digital...

Vantage provides R82m of funding for Alleyroads

Vantage Capital, Africa’s largest mezzanine fund manager, has provided R82m of mezzanine funding for the development of Kayalane Heights, a first-of-its-kind affordable housing development located in Lebowakgomo, Limpopo. Johnny Jones, Partner at Vantage Capital, said: “We are proud to support one of South Africa’s leading black developers who is seeking to narrow the country’s housing shortage in Lebowakgomo by providing high quality homes at an economical price.” The promoter of the transaction is the Alleyroads Group, a 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. Warren...

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