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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...

AFD, Afreximbank pump €150 in green finance in Africa

(Ecofin Agency) - The French Development Agency (AFD) and the African Export-Import Bank (Afreximbank) agreed to pump €150 million worth of green, low carbon, socially inclusive, and more resilient investments in the continent. AFD has made available a €500,000 grant for a technical assistance program for the development of Afreximbank's climate finance strategy. Ultimately, this partnership will enable the expansion of sustainable development financing mechanisms in Africa. Read also; Nigeria’s Lekoil Raises $100m For Ogo Oilfield Drilling The effects of climate change are costing the continent $100 billion, or 2.8% of its annual GDP. To meet this challenge, solutions must be developed both to mobilize external financing and to put in...

Daily Digest Thursday, 17 September 2020

Funding In Africa Senegalese delivery startup Yobante Express has expanded to five African markets 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 more Funding In North Africa Egyptian prop-tech startup Isqan raises 6-figure pre-seed funding round 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...

SA edtech startup receives $7-million investment

Bradley Elliott, the Chief Marketing and Innovation Officer of Valenture provides insight into how the investment will help the edtech startup reach its goals.  The investment will be used towards the high-tech enabled boutique high school campuses in South Africa  “The investment will be used for further global expansion, enhancing the learning experience, and building out additional offerings such as new subjects and exclusive bootcamps like Coding, Design Thinking, Data Science, and more.” In addition, the funding will be used for resources dedicated to the roll-out of the school’s hybrid, tech-enabled, boutique campuses, which combine online learning, in-person guidance by Learning Coaches, and socialising with peers, and additional features...

Helios Investment Partners Eyes South Africa

Helios Investment Partners says it is eying South Africa for opportunities, claiming the current pessimism is “overdone.” “South Africa, notwithstanding the challenges that it is having - both from the human toll of Covid-19 and the economic challenges- paradoxically is becoming more interesting for us,” Tope Lawani (pictured), co-founder and managing partner at Helios, said in an interview with Bloomberg. No detail was provided on the companies Helios is targeting but the firm says it plans investments in fintech, insurance, and the energy sector. According to Tope Lawani, Helios is also considering the possibility of imitating a Ghanaian liquefied natural gas project in South Africa to help...

Sahara Energy Pens $43m LPG Supply Deal in Cote d’Ivoire

Sahara Energy Logistics Holding Limited (a Sahara Group company) and the national oil company of Cote d’Ivoire (Société Nationale d’Opérations Pétrolières de la Cote d’Ivoire ) Petroci Holding), have entered into a Joint Venture Agreement (JVA) to facilitate the construction of a 12,000 Metric Tonnes Liquefied Petroleum Gas (LPG) storage facility to guarantee LPG supply security in the nation. The cost of the project is estimated at $43million and will be executed in two phases, with commissioning scheduled for November 2021 and October 2022 respectively. Read also; Local proptech Company HouseMe Secures Funding Incorporated as SAPET Energy S.A., the joint venture company will handle the construction, operation, and...

Entrepreneurship Is The Most Reliable Way To Build Wealth In Africa, Not Inheritance -The African Wealth Report

In Africa, wealth isn’t inherited but made, says a new report entitled The African Wealth Report, recently released by Africa’s biggest bank Standard Bank. The report found entrepreneurship to be the most common option used by Africans to create wealth. No less than 148 of 265 people surveyed in Ghana, Kenya, Mauritius, Nigeria and South Africa they made their first million dollars and continued to make more thereafter from entrepreneurship. “To draw a more complete picture of the wealth sector in Africa, a total of 265 respondents were surveyed and 75 face-to-face interviews conducted across five key markets — Ghana, Kenya, Mauritius, Nigeria and South Africa — with the estimated...

South African Crypto Startup Luno Acquired By World’s Largest Blockchain Investor

Good news for founders and investors in leading South African cryptocurrency exchange, Luno. Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, has announced that it has acquired the company, 7 years after it was started. Good news for founders and investors in leading South African cryptocurrency exchange, Luno. Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, has announced that it has acquired the company, 7 years after it was started. Here Is What You Need To Know Nothing is however changing in the leadership team of the company as Luno’s team will remain intact and Swanepoel will lead acquisition...

Energy Startup Raises $3.3m Series A To Expand Into Malawi, Uganda

African startups are trudging on inspite of the negative impacts of the Covid-19 pandemic on businesses, and many of them are using the opportunities provided by the market disruptions to expand into other markets within the continent. This could be gleaned from the number of successful funding that has taken place since the great lockdown. The latest on the list is South African pay-as-you-go (PAYG) solar energy startup Yellow which is embarking on an expansion drive which will see it berth in Malawi and Uganda. The US$3.3 million Series A funding round it successfully achieved will aid its scaling-up its footprint to over 100,000 customers in Malawi and Uganda. Founded in 2017, Yellow has enabled...

Daily Digest Wednesday, 16 September 2020

Funding In East Africa Energy Startup Raises $3.3m Series A To Expand Into Malawi, Uganda This could be gleaned from the number of successful funding that has taken place since the great lockdown. The latest on the list is South African pay-as-you-go (PAYG) solar energy startup Yellow which is embarking on an expansion drive which will see it berth in Malawi and Uganda. The US$3.3 million Series A funding round it successfully achieved will aid its scaling-up its footprint to over 100,000 customers in Malawi and Uganda. Read more Funding In West Africa Sahara Energy Pens $43m LPG Supply Deal in Cote d’Ivoire Incorporated as SAPET Energy S.A., the joint venture company...

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