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GFA Weekly Round-Up Podcast (September 8- September 12)

Nichole discussed the funding activity recorded on the GFA platform and deep dive into the blockchain industry in Africa. https://soundcloud.com/get-fundedafrica/gfa-weekly-round-up-september-8-12 Follow us on soundcloud and sign up to out daily digest to get all the latest updates GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges Follow Us ...

GFA Attract Series (VC Edition): Interview With Rob Eloff, Lateral Capital

In this episode of GFA-Attract, Debo discussed with South African born Rob Eloff the co-Founder&managing partner at Lateral Capital, a mission driven venture fund investing in early stage opportunities in Sub-saharan Africa to bridge the gap between capital and opportunities. https://youtu.be/yMF8WBnSPTc In this episode, you will learn about: Whether private Equity and Venture capital are right for Africa.The answer to the big debate about diversity and opportunities in AfricaHow to understand the rules of the game and, be able to translate them to the local environments.How investor bias is preventing investors from interpreting the market properly and becoming successful.The story behind how Lateral capital was formed.Why Private Equity...

Egyptian Startup Rology Secures $860,000 For Its Platform

Cairo-based healthtech Rology has secured $860,000 in a Pre-Series A round led by HIMangel. The round was also joined by Dubai Angel Investors (DAI), The Asia Africa Investment & Consulting (AAIC) from Japan, and Saudi’s Athaal Group. “For the last three years we saw firsthand how Rology’s services help hospitals offer fast and accurate care to their patients and how it can literally save patients’ lives. We look forward to expanding Rology’s platform to the African and Middle Eastern market where there is a huge need for Rology’s services and ultimately help hospitals offer better care to their patients,” Amr AboDraiaa, the co-founder and CEO Rology,...

Tanzania, Uganda Sign Deal On $3.5bn Crude Oil Pipeline

TANZANIA – Tanzania and Uganda have signed an agreement to commence construction on a 1,445-kilometre crude oil pipeline running from Ugandan oilfields to the Tanzanian port of Tanga, a Tanzanian government spokesman said. The project focuses on oilfields in landlocked Uganda discovered in 2006 near Lake Albert and proposes pumping the crude to the coast via a pipeline across Tanzania. The pipeline is estimated to cost of $3.5 billion. Read also; Senegal’s First Major Gas Pipeline Gets US Government’s Funding According to Mr. Hassan Abassi, the Tanzanian government spokesman, 80% of the pipeline will run through Tanzania. The multi-national plan is led by French petroleum giant Total in partnership with China...

Why Ripple might be the future of digital payments

Ripple, the world’s fast-growing crypto payment powerhouse, works with bank regulators and policymakers in several governments for the adoption of digital payments. CryptoWhale, a crypto analytic firm, in a series of tweets, recently spoke on the odds of giving XRP the edge, as it works with government regulators on compliance. Read also; Your Startup Is a Movement The tweet reads, “Many criticize XRP for being ‘too centralized’, although this transparency is what government like,” “While other projects are focused on getting a quick batch of new investors to exit scam, Ripple has quietly been working with government agencies to ensure compliance.” At the time of this report, XRP traded at $0.241, with a daily trading...

Daily Digest Tuesday, 15 September 2020

Funding In South Africa Grant worth $25 000 launches for young SA filmmakers Founded by Nigerian born, L.A based serial entrepreneur Chinecherem Ez, the platform offers over 400 pieces of content including world-class originals, blockbuster films, series, documentaries, and much more. Read more Funding In East Africa Tanzania, Uganda Sign Deal On $3.5bn Crude Oil Pipeline The project focuses on oilfields in landlocked Uganda discovered in 2006 near Lake Albert and proposes pumping the crude to the coast via a pipeline across Tanzania. Read more Funding In North Africa Egyptian Startup Rology Secures $860,000 For Its Platform According to HIMangel’s Chairman Khaled Ismail, they had spotted Rology about two years ago as a...

Bonfire Ventures Ignites $100M Fund II (Exclusive)

Bonfire Ventures, the Santa Monica seed-stage venture fund that has carved a niche focusing exclusively on unsexy but potentially lucrative business-to-business (B2B) software, has closed its second fund with $100 million in dry powder, up from the $63 million fund it closed in 2017. Adopting an "if ain't broke, don't fix it" ethos, little will change with the latest fund, except initial check sizes will be larger, though not dramatically so, averaging $1.75 million versus $1.25 million for Bonfire I. 60% will be set aside for follow-up investment. "What we're doing is working well and we want to do more of it," said Bonfire co-founder and managing director Jim Andelman. "We're...

Report Indicates 70% Of Nigerian Startups Face Funding Challenges

A white paper, titled “Protecting Nigeria’s Entrepreneurial Future” has revealed that 70% of Nigerian startups and scaleups are facing funding challenges due to the impact of the Covid-19 pandemic.  The white paper has been published by Endeavor, a global high-impact entrepreneurship network in collaboration with Stears Data, a leading Nigerian data collection company.  Eloho Omame, Managing Director and CEO of Endeavor in Nigeria comments on the launch of the white paper.  “At Endeavor, we believe firmly that the innovation ecosystem — the transformational startups and scaleups, and their founders, who are building sustainable growth models in Nigeria — are fundamental to economic growth and the fabric of our future economy. This white...

The Trump Administration Is Investing In African E-commerce Startups Focused On Rural Areas

African e-commerce is getting a boost from an unlikely source. The United States’ International Development Finance Corporation (DFC) has backed two fledgling e-commerce startups operating in East Africa as part of its latest quarterly $3.6 billion investment spend. The DFC confirmed a $5 million equity investment in Copia Global, a Kenya-based e-commerce and logistics startup that focuses on under-served consumers in rural areas. The quarterly spend—the corporation’s largest ever, also included a $1 million equity investment in Kasha, a women-focused e-commerce player operating in Kenya and Uganda. While notable e-commerce companies like Jumia and South Africa’s TakeALot, have raised hundreds of millions of dollars on the promise...

Binance Offers DeFi Coders $100,000; DeFi Market Value Hits $8 Billion

Binance, the world’s largest crypto exchange by market volume, is offering a big financial reward to crypto coders. The crypto powerhouse recently started a $100 million seed fund to attract more decentralized finance (DeFi) coders to its smart contract-enabled Binance Smart Chain. Read also; SMEGO Launches Platform To Enable Small Businesses Raise Funds In South Africa Each proposal will go through security audits and due diligence. Approved DeFi projects can get up to $100,000 in funding, while their tokens will benefit from the liquidity available through Binance’s proprietary blockchain. The Malta-based firm says high-quality projects may also be listed on Binance. DeFi Pulse, which tracks the value of the DeFi...

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