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Ethiopian reforms attract investor interest

Since Ethiopian Prime Minister Abiy Ahmed took power in April 2018, his government has sent an unambiguous message: It needs more private sector investment to drive growth and create jobs. The government’s growth strategy calls for structural reforms designed to strengthen the private sector, boost competition, and increase investment – an approach that is accelerating the end of Ethiopia’s long reliance on state-led economic development. The government plans to privatise the state-owned telecommunications company, Ethio Telecom, offering up to 49% ownership to outside investors. The government also plans to offer two new licences that will allow new players, including foreign investors, to enter the market. Read...

GFA Daily Digest Thur, Mar. 12, 2020

East Africa AHUB East Fintech Event North Africa Egyptian fintech Khazna lands seed investment Southern Africa Newtown Partners & Imperial Logistics Launch $20m Vc Fund For Logistics Startups Africa Africa Singapore Business Forum 2020 Our previous weekend articles are here: 1) https://getfundedafrica.com/2020/02/28/30403/ and here: 2) https://getfundedafrica.com/2020/02/22/gfa-weekend-feature-how-to-raise-funds-for-an-african-hotel/ GetFundedAfrica curates funding news across Africa and emerging markets. Subscribe & check out our March 2020 preview and events here: https://getfundedafrica.com/2020/02/29/gfa-march-2020-preview/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

AfDB Directors Visit Cameroon With $3bn Project Portfolio

A delegation of African Development Bank Executive Directors, have concluded a week-long fact-finding mission to Cameroon to investigate where investment is most needed. During their visit, they met with the country’s Prime Minister and other senior officials. The mission began on 2 March 2020 in the capital, Yaoundé where the Executive Directors held consultations with stakeholders, including private sector operators and development partners. They also toured Bank-financed projects. Read more from source article: https://www.nigeriaelectricityhub.com/2020/03/11/afdb-directors-visit-cameroon-with-3bn-project-portfolio/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

African fintech startups to benefit from $203m Accion Quona Inclusion Fund

Quona Capital, a venture firm focused on financial inclusion in emerging markets, has announced the final close of the Accion Quona Inclusion Fund at US$203 million in commitments from an array of leading investors. Quona Capital, which has supported more than 20 financial technology companies expanding access for underserved consumers and small businesses in Latin America, South and Southeast Asia, and Sub-Saharan Africa, has a strategic relationship with Accion,a global non-profit focused on microfinance and fintech impact investing.  Together, the two organisations have launched the Accion Quona Inclusion Fund, which has just closed at US$203 million, significantly exceeding its $150 million target. Investors include global asset managers and insurance companies, investment and commercial banks, as well...

Homzmart furniture marketplace founded raises $1.3 million seed funding

Cairo-based furniture marketplace Homzmart has raised $1.3 million in a seed round, the startup told MENAbytes today. The investment which according to our data is one of the largest seed round raised by an Egyptian startup came from China’s MSA Capital, Oman Technology Fund (OTF), and Choueiri Group’s investment arm Equitrust. 500 Startups and some other strategic investors also joined the round. Founded late last year by Mahmoud Ibrahim and Ibrahim Mohamed, Homzmart is an ecommerce marketplace that connects furniture manufacturers and vendors with customers, selling furniture online. The platform showcases different designs to help customers personalize their ideas and vision for their home, and bring it to reality, a feature the founders see as an important part...

[APPLY] Facebook tables $3million for community leaders across SSA under Community Accelerator programme

In line with its mission to give people the power to build community around the world and its commitment to supporting the community leaders who drive change, Facebook is announcing the launch of the Community Accelerator programme which will be available in the following countries across SSA: South Africa, Kenya and Nigeria.  An evolution of the Facebook Community Leadership Programme (FCLP), this six-month accelerator programme provides training, mentorship and funding to help community leaders grow their communities. Up to $3 million in total will be awarded to 80 programme participants worldwide. Read more from source article: https://techeconomy.ng/2020/03/apply-facebook-tables-3million-for-community-leaders-across-ssa-under-community-accelerator-programme/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

GFA Daily Digest Fri, Mar. 13, 2020

Africa [APPLY] Facebook tables $3million for community leaders across SSA under Community Accelerator programme North Africa Homzmart furniture marketplace founded raises $1.3 million seed funding Southern Africa African fintech startups to benefit from $203m Accion Quona Inclusion Fund West Africa AfDB Directors Visit Cameroon With $3bn Project Portfolio GetFundedAfrica curates funding news across Africa and emerging markets. Subscribe & check out our March 2020 preview and events here: https://getfundedafrica.com/2020/02/29/gfa-march-2020-preview/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

Africa Singapore Business Forum 2020

The Africa Singapore Business Forum (ASBF) is the premier platform for business exchange and fostering trade between Africa and Asia. Organised by Enterprise Singapore, the forum has brought together over 2,000 business and government leaders from 30 countries to explore partnerships and growth opportunities between these two dynamic regions. ASBF 2020 will address critical issues and identify opportunities in key sectors, including real estate, manufacturing, digital technology, oil and gas, and financing. Read more from source article: https://www.enterprisesg.gov.sg/esghome/events/key-events/market/africa-singapore-business-forum/home Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

Newtown Partners & Imperial Logistics Launch $20m VC Fund For Logistics Startups

SA-based Venture Capital firm, Newtown Partners has teamed up with logistics firm, Imperial, to launch a fund dedicated to investing in high-growth supply chain and logistics startups. The corporate venture fund plans to make an initial investment of US$ 20 million. Newtown Partners was founded in 2014 as the result of a Dragon’s Den deal between Vinny Lingham and Llew Claasen. It has since made investments in Bloomable, Civic, SweepSouth, and the now defunct Wala. Co-founder and General Partner of Newtown Partners, Vinny Lingham, said, “This programme will contribute to the long-term success of the organisation by identifying and leveraging startups deploying emerging technologies and business models in key geographical and logistics...

Egyptian fintech Khazna lands seed investment

Egyptian fintech Khazna has raised seed funding in a round led by leading Egyptian venture capital (VC) fund Algebra Ventures. Tech publication MenaBytes reported that the startup did not disclose the size of the investment. It said Accion Venture Lab, Accion’s seed-stage fund, also participated in the round. Fintech Khazna aims to provide mobile banking services to over 20 million underbanked Egyptians. Read more from source article: https://ventureburn.com/2020/03/egyptian-fintech-khazna-lands-seed-investment/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...