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Development Partners International invests $56mln in Sicam

Development Partners International (DPI), through its third fund, made a $56 million investment in Société industrielle des conserves alimentaires (Sicam). The transaction represents the second commitment of African Development Partners III (ADP III) and the first in the Tunisian agribusiness sector. Created in 1969, Sicam, which is wholly controlled by the Tunisian conglomerate Groupe Bayahi, is the leader in the Tunisian tomato market. The private equity fund manager DPI is joining forces with the Bayahi Group to strengthen its position on the Tunisian market and steer its international expansion strategy. Related Articles: After Years In Search Of Funding, South Africa’s Ed-tech Startup Syafunda Raises $140k Funding To Scale “Tunisia...

Latest Report shows African regulators are holding back growth of cryptocurrency on continent

While the rapid adoption of cryptocurrencies may be likely in Africa — given the continent’s high inflation rates, volatile currencies and underdeveloped banking — regulators are holding back its growth, a new report has found. The State of Crypto: Africa report, released last week by SA founded cryptocurrency platform Luno in conjunction with Norwegian research organisation Arcane Research, reveals that the legality of Bitcoin and other crypto assets varies significantly across the region, with over 60% of African governments yet to clarify their position. “While some nations maintain a positive stance, multiple counties have issued complete or partial bans. For whatever reason, North African countries have taken the most hostile...

Daily Digest Monday, 25 May 2020

Call For Applications [APPLY] For Digital Francophone African Startups And SMES With the explosion of the COVID-19 epidemic and the resulting global economic crisis, particularly affecting startups and SMEs on the African continent, the GreenTec Capital Africa Foundation and the French Development Agency are strengthening their mission to support the local ecosystem and encourage startups to respond to this call for applications. Read more Funding In Southern Africa After Years In Search Of Funding, South Africa’s Ed-tech Startup Syafunda Raises $140k Funding To Scale At a time when the coronavirus virus pandemic has disrupted school systems across Africa, South African ed-tech startup Syafunda has raised ZAR2.5 million (US$140,000) in new funding...

After Years In Search Of Funding, South Africa’s Ed-tech Startup Syafunda Raises $140k Funding To Scale

At a time when the coronavirus virus pandemic has disrupted school systems across Africa, South African ed-tech startup Syafunda has raised ZAR2.5 million (US$140,000) in new funding to enable it scale and respond faster to increasing demand.  Here Is What You Need To Know The funding came from the South Africa-based fund manager Edge Growth.Armed with the new fund, Syafunda looks to meet the increasing demand it has witnessed as a result of the COVID-19 pandemic.  Why The Investor Invested Launched in 2017 and with offices in Johannesburg and Cape Town, Edge Growth efficiently channels funds into high-potential SMEs to support growth and ensure sustainability. The company’s dealmaker Vuyiswa Nzimande said the...

How Waste Is Turning To Wealth Across Africa

The objective of turning Africa’s huge waste into value has been the driving force behind the establishment of what is fast becoming the continent’s most expansive waste recycling firm called Recyclan. The company is focusing on a dual pronged business ideology of creating an environmental sustainable society while creating wealth at the same time. Launchedin 2018 by Chime Okwuokenye, Rob Homan and Molawa Adesuyi, Recyclan is on a mission to reduce Africa’s carbon footprint and make the world greener by recycling plastic waste. The startup is reducing plastic waste on beaches, landfills and in the ocean by driving collection through technology. Its mobile app and SMS service incentive people...

ASOdesk Raises $1M in Funding

ASOdesk, a Moscow, Russia-based company that is focused on helping app developers make their mobile apps more discoverable in both the iOS and Android app stores, raised $1M in funding. Embria made the investment. The company intends to use the money for active product growth in 2020, team growth, as well as for expansion to Europe while retaining its leading market position in the CIS market. Founded in 2016 by the students of the Moscow Institute of Physics and Technology as their thesis project and led by CEO Sergey Sharov, ASOdesk provides tools for App Store Optimization (ASO), competitor Insights, app monitoring, and store analytics. It is used...

The impact of Covid-19 pandemic on Oil and Gas Projects in Nigeria

Introduction COVID19, first discovered in Wuhan City, Hubei Province of China in December 2019, has now become a global pandemic as declared by WHO. Statistics indicated that as at 23rd of May, 2020, a total of 5,061,476 cases have been confirmed with 254,045 deaths worldwide. Unfortunately it is the same story in Nigeria with 7,261 confirmed cases and 221 deaths. The economic impact of COVID-19 may result in the suspension of key oil and gas projects running into millions of Dollars, which invariably would have a significant effect on the Nigerian economy. Oil and Gas Projects impacted by Covid -19 Governments’ reaction to curtailing the spread of COVID-19 via...

Profile: Martin N. Chukwuezi

About Martin Martin is currently the Managing Director of Opal Oil and Gas Ltd, a sub-surface engineering company that provides services to the oil and gas company in Nigeria. Prior to working at Opal Martin worked as a Reservoir Engineer with more than 20 years experience in oil and gas industry as well as in the training and development of human resources. Martin has a background in the fundamental principles of petroleum engineering with specialization in classical reservoir engineering, reservoir simulation, production optimization and petroleum economics. Martin's Educational Background Martin obtained his Master's and Bachelor's of Engineering degrees in Petroleum Engineering from Univeristy of...

Egypt’s EYouth raises USD180K in SEED funding from EdVentures

EYouth, a community of entrepreneurs leading sustainable enterprises has raised USD180K in SEED funding from EdVentures.  EYouth, a social enterprise based in Cairo that empowers youth through a wide range of services, has raised USD 180K in a round investment as SEED fund from EdVentures, the venture capital arm of Egypt’s Nahdet Misr Publishing House. Founded in 2010 by Alaa Obeida and Mostafa Abdellatif, EYouth aims at empowering youth, especially in Egypt’s different governorates, through providing them with diversified training programs in entrepreneurship, employability and personal skills enhancement, and community development. They also provide young entrepreneurs with mentoring, advising, and consulting services they need to start and grow their own businesses, and...

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