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South Africa: Zeder Investments sold its stake in Quantum Foods

South African agribusiness investor Zeder announced it has sold its 32.1% stake (61.6 million shares) in the animal feed company Quantum Foods Holding Limited to Country Bird Holdings, a company operating in the same business segment as Quantum. The transaction was carried out through Zeder’s subsidiary Zeder Financial Services. Zeder Investments will use the R308.1 million ($18 million) cashed from this sale to strengthen its cash reserves and recapitalize its subsidiaries if necessary, during this health crisis period. The firm is also looking for new investment opportunities in promising sectors. Download GetFundedAfrica's e-Guide to fundraising for start-up's Here The operation will allow Country Bird to continue its expansion...

Zedny an Egyptian Edtech Startup Bags $1.2m Pre-seed Funding

Zedny, an Egyptian edtech platform where users can learn in Arabic, has secured $1.2 million funding from angel investors. The platform which was recently launched boast of over 200 online courses and 400 animated video summaries of global business bestsellers, as well as 5,000+ hours of learning. Zedny which has already expanded to the Middle East is focused on persons who are looking to develop their business skills and acquire general knowledge. It also targets people looking for jobs and employees who want to climb the corporate ladder. Zedny provides year-long online learning and development at a fraction of the cost of one offline training course for an...

[Apply] Suguba Investment Readiness Program For Digital Francophone West Africa Startups

Suguba in partnership with Mercy Corps and the French Development Agency (AFD) is organizing its second 6-month investment readiness programme in Francophone West Africa to support the 8 most promising startups digital sector. The second programme is tagged Afrikhaliss and it is aimed at digital startups with impactful solutions for local and regional value chains. The program targets companies that already have a product or service on the market and are generating revenues. However, applications from companies not yet generating revenue will also be considered. Eligible companies are based or generate at least 75% of their turnover in one or more of the following markets in Francophone West Africa: Benin, Togo,...

Africa-focused fintech Chipper Cash nets $13.8m Series-A round

African fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital.It’s been two years since its establishment and Chipper Cash has raised $22 million on total capital, providing mobile-based, fee-free P2P payment services in seven countries: Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya.According to the co-founder Serunjogi, the company will utilise its latest round to hire up to 30 people across operations in San Francisco, Lagos, London, Nairobi and New York. African transnational fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital, with aims to recruit 30 new workers...

TransferGo raises $10M additional funding, launches in 11 new markets

TransferGo, the London-based international money transfer service, has raised another $10 million in funding, as it discloses that its customer numbers have surpassed two million. The round was co-led by Seventure and Vostok Emerging Finance,  with follow-on funding from Hard Yaka, Revo Capital and Bootstrap Europe. The startup is also announcing it has launched in 11 new markets, including Japan, New Zealand, Saudi Arabia, Singapore and Ghana. That’s a doubling down on South East Asia and African market expansion, beyond its original focus on Europe. Founded in 2012, TransferGo’s  customer base is predominantly made up of migrants who send money home to their families. It positions itself as offering one of...

Morocco Launches Exceptional Support Program for Artists, Authors

The Kingdom of Morocco has highlighted the importance of arts and culture as a vehicle not only for national reorientation and foreign policy projection but also to encourage young talents. This was made known by the Moroccoan Minister of Culture, Youth, and Sports, Othman El Ferdaous, who announced the launch of an exceptional program to support cultural actors from the worlds of art and books amid the socio-economic crisis due to COVID-19. El Ferdaous detailed the ministry’s decision on his social networks, including Facebook and LinkedIn. The minister said his department is aware of the national contributions of creators such as artists and writers and their efforts to...

Kenyan govt plans $495mln+ agricultural investment in FY2020-21, down 11% from FY2019-20

The Kenyan government announced an investment of KSh52.8 billion (about $495.3 million) to boost the agriculture sector during the 2020-21 financial year starting July. The amount is 11% less than the KSh59.1 billion invested in the sector a year ago. The resources will be directed in irrigation programs, the purchase of inputs, and the promotion of good agricultural practices. This amount represents only 1.8% of total public expenditure, well below the 10% commitment made in Maputo in July 2003. And observers claim that this package is insufficient, considering the needs of the agricultural sector, whose main segment, horticulture, is suffering from the full impact of the coronavirus...

France’s Largest Telecom Operator, Orange, To Enter Nigerian And South African Markets

Telecom operators in Nigeria and South Africa should be worried for their market shares. This is because Orange, France’s largest telecom operator, believes it would benefit from having a wider footprint in Africa and will give itself a few months to make further inroads into the contient, Chief Executive Stephane Richard told Les Echos business newspaper. Here Is What You Need To Know Richard declined to comment on a possible interest in South Africa’s MTN Group Ltd. The Middle East and Africa, where Orange has a presence in 18 countries, is the company’s fastest-growing market. Download GetFundedAfrica's e-Guide to fundraising for start-up's Here The region makes a large chunk of its revenues from payment transfers — a...

Planet42 Raises $2.4M in Funding

Planet42, an Estonian fintech company that focuses on providing access to mobility to the underbanked in Africa, raised €2.2M ($2.4M) in seed funding. The round was led by Change Ventures with participation from Martin Villig (Bolt), Ragnar Sass (Pipedrive), Marko Virkebau (MeetFrank), Kristjan Vilosius (Katana MRP), and several other Estonian tech entrepreneurs. The company will use the funds to expand its portfolio of vehicles. Download GetFundedAfrica's e-Guide to fundraising for start-up's Here Launched as CarGet in 2017 to service South Africa by Eerik Oja, co-founder and CEO, and Marten Orgna, co-founder and CFO, Planet42 partners with dealerships across South Africa to offer access to a personal car to its...

[APPLY NOW] Disrupt COVID-19: Digital Hackathon

Together with the UK-South Africa Tech Hub, Startupbootcamp AfriTech is inviting innovators with disruptive solutions to digitise public procurement for a 3 day hackathon. Apply here Startupbootcamp is excited to announce that together with the UK-South Africa Tech Hub, a UK government initiative, we will be hosting the Disrupt COVID-19 Digital Hackathon. We are inviting startups, entrepreneurs, and innovators to join us as we develop solutions to further advance economic inclusion and build resilience We are calling innovators with radical solutions to address key challenges in the informal economy and SMME sector more widely. Through this, startups will be designing new approaches to overhaul state procurement, digitise information systems for...

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