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Nigeria’s Access Bank gets $50mln IFC loan

buy Lyrica 150 mg online The International Finance Corporation, the private sector arm of the World Bank, has approved a loan worth $50 million to Nigeria’s Access Bank to help it support SMEs facing cash strain due to the coronavirus pandemic. The resource has a maturity of 12 months with an undisclosed interest rate. “The funds from the loan, made through IFC’s global COVID-19 fast-track financing support package, will allow Access Bank to provide increased trade financing and working capital to their business clients experiencing disrupted cash flows, hence supporting business activity and preserving jobs,” the international body said in a statement. The global COVID-19 fast track facility, launched in March 2020, is...

Daily Digest Wednesday, 22 July 2020

Funding In Africa African Development Bank set to join landmark $20 billion Mozambique LNG financing The African Development Bank has concluded its bid to co-finance the construction of Mozambique's integrated Liquefied Natural Gas (LNG) plant by signing a senior loan of $400 million for the transformational project. Read more Funding In Southern Africa Giraffe secures funding from Unicef innovation fund Founded in 2015, Giraffe is a South African mobile job matching platform that aims to reduce unemployment in emerging markets by enabling job seekers to easily create CV via cellphone for free. In addition, the platform allows users to connect with relevant job opportunities available in their area. Read more VALR...

Inviting African Startups for the NINJA Business Plan Competition in Response to COVID19

The Japan International Cooperation Agency (JICA) that coordinates official development assistance for the Japanese government in developing countries, has announced the launch of the NINJA Business Plan Competition for businesses emerging during the COVID-19 outbreak. NINJA is short for Next Innovation with Japan. The NINJA Business Plan Competition will target startups and organizations from 19 African countries. The application is open for startups/organizations in all sectors with a specific focus on emerging businesses in COVID-19-related fields including, but not limited to: Health: Online healthcare support; disease-testing solutions; medical data sharing and privacy protection solutions; distribution of drugs and medical equipment; IoT, including 3D printers, in the medical fieldDisaster management: Geo-tracking during...

African Development Bank set to join landmark $20 billion Mozambique LNG financing

The African Development Bank has concluded its bid to co-finance the construction of Mozambique's integrated Liquefied Natural Gas (LNG) plant by signing a senior loan of $400 million for the transformational project. The Mozambique LNG Area 1 Project, estimated to cost over $20 billion, is ranked Africa's single largest foreign direct investment to date. It comprises a global team of energy developers and operators, led by Total alongside Mitsui, Oil India, ONGC Videsh Limited, Bharat Petroleum, PTT Exploration, as well as Mozambique's national oil and gas company, ENH. With the signing on 15 July, the Bank joins a global syndicate of commercial banks, development finance institutions and export credit...

Giraffe secures funding from Unicef innovation fund

Giraffe has received grant funding from Unicef”s innovation fund and will utilise the funding to empower South Africa’s youth to become employable. Founded in 2015, Giraffe is a South African mobile job matching platform that aims to reduce unemployment in emerging markets by enabling job seekers to easily create CV via cellphone for free. In addition, the platform allows users to connect with relevant job opportunities available in their area. Giraffe has closed a grant funding round from Unicef’s innovation fund The additional funding will enable Giraff to develop a jobseeker content portal that can enable young individuals to up skill themselves, therefore, increasing their employability. The platform content...

VALR raises R57-million to advance cryptocurrency adoption

VALR, one of South Africa’s leading cryptocurrency exchange, announced today that it has raised R57-million (US$3.4-million) to advance the adoption of cryptocurrencies. The Series A equity round of funding was led by 100x Ventures, (the investment arm of 100x Group who are behind cryptocurrency derivatives trading platform BitMEX), with participation from 4DiCapital, and FNB CEO Michael Jordan and US-based company Bittrex. VALR has raised R57-million in funding Founded in 2018, VALR was established to bridge the gap between the traditional financial system and the new world of cryptocurrencies. In June 2019, VALR launched bitcoin-rand trading and has since grown to become one of South Africa’s leading bitcoin trading...

Daily Digest Tuesday 21 July 2020

Funding In North Africa Tunisia’s One Tech Holdings secures US$26m from IFC to expand production, supply of mechatronics products BVMT-listed OneTech received €23 million from the International Finance Corporation (IFC), to support its development in Tunisia, Morocco, and internationally. The financing will also be used to stimulate job creation and economic growth. Read more Funding In Africa EAIF anchors Helios Towers bond issue The Emerging Africa Infrastructure Fund (EAIF) has acted as an anchor investor in a bond issued in London on June 8, 2020 by HTA Group (HT), a whole owned subsidiary of Helios Towers. Read more GetFundedAfrica - Venture Capital Focus An insight into how Tokyo-based VC, Samurai Incubate Africa,...

EAIF anchors Helios Towers bond issue

The Emerging Africa Infrastructure Fund (EAIF) has acted as an anchor investor in a bond issued in London on June 8, 2020 by HTA Group (HT), a whole owned subsidiary of Helios Towers. EAIF has invested $30m in the UK listed bond, which has a 5.5 year term and a coupon of 7%. Helios Towers operates over 7,000 telecommunications towers, mainly in Tanzania, the Democratic Republic of Congo, Congo Brazzaville and Ghana and has recently established a presence in South Africa.    Because of the global financial uncertainty caused by Covid-19 the African corporate debt capital markets were effectively closed. As a consequence, HT was initially cautious in its...

Tunisia’s One Tech Holdings secures US$26m from IFC to expand production, supply of mechatronics products

BVMT-listed OneTech received €23 million from the International Finance Corporation (IFC), to support its development in Tunisia, Morocco, and internationally. The financing will also be used to stimulate job creation and economic growth in these two Maghreb countries facing the effects of the covid-19 pandemic. “IFC’s continued support will help our company acquire new capacity, more sophisticated technology, and increase the production of higher value-added products, as well as develop renewable energy,” said Hedi Sellami, MD of One Tech Holding. “We also hope to further integrate research and development into our operations to become a vital link in the regional manufacturing value chain,” he added.   This news should...

MindCET Accelerator Demo Day #8 – Online Event

MindCET Accelerator's first online batch is coming to its final stage! Join us for our online demo day, and meet 8 amazing Edtech startups. About this Event MindCET Accelerator's first online batch is coming to its final stage! Join us for our online demo day, and meet 8 amazing Edtech startups. *An event link will be sent to you a few hours before the event begins. The Startups: Alpe - an on-the-go learning app, that leverages audio and interactive learning techniques My nursery - a full schedule of activities and resources for 0-6 year olds that are appropriate to the individual child’s interests and development level. EyeKnow - An AI/Computer Vision software platform that automatically...

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