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MENA’s financial comparison site yallacompare raises $4.25M

yallacompare.com, Egypt and Middle East’s finance comparison site has sold 9.6% stake to Kuwaiti’s Gulf Insurance Group for $4.25 million for regional expansion. yallacompare CEO Jon Richards said, “We are delighted to add gig as an investor and partner and have big plans for the next few years. I believe that the combination of gig’s regional and industry expertise and yallacompare’s digital capability will combine to deliver innovative products via customer-friendly channels to consumers across the region. ’’ See related: Egypt central bank plans $50mn to $100 mn fintech fund With the investment, yallacompare expects to double its market share by the end of 2020.’ strong competitive market position in Kuwait,...

OLX Group acquires 39% of Emerging Markets Property Group, pumps in $150M for growth

OLX Group has announced a merger with Emerging Markets Property Group (EMPG) which runs property sites in Pakistan, Egypt, Lebanon, and the UAE. OLX Group, a Prosus’s global classifieds business, alongside existing EMPG shareholders, will also invest $150 million into the group, which values EMPG at US $1 billion after the transaction. After the deal, OLX Group will own 39% of the company.  See related: APPLY: IPA tables $800,000; invites African innovators to solve remote learning challenges amid COVID-19 According to Martin Scheepbouwer, CEO of OLX Group, “I’m proud of what we have built in these four markets. Our brands are household names, and currently help tens of millions of people...

Nestlé provides over USD 3.4 million for COVID-19 relief in Central and West Africa

Nestlé is supporting more than 850,000 vulnerable people in Central and West Africa as part of a USD 3.4 million effort to help countries in the region fight COVID-19. At a time when hunger is a growing concern the company is donating nutritious food and beverages to 170,000 families, corresponding to 850,000 people, across the region in Angola, Burkina Faso, Cameron, Gabon, Mali, Niger and Nigeria. Nestlé is also contributing masks and other personal protective equipment (PPE) to keep frontline health workers safe. The company is also donating medical equipment to hospitals in Burkina Faso, Côte d’Ivoire, Ghana and Senegal. Additionally, in Burkina Faso, it will...

Instabug, A Debugging Software Startup, Has Raised $5M From Accel To Shakeup Mobile App Development

Smartphones have become our primary tool for interacting with society at large. From calling an Uber to having food delivered to your doorstep through Instacart, smartphones are an integral part of how people today live their lives. However, when bugs in these device’s apps appear, the seamless access to goods, services, work, and entertainment starts to break down. Sometimes these bugs can be so infuriating, the device owner shakes their phone out of frustration. Omar Gabr and Moataz Soliman have observed the experience-degrading nature of these smartphone bugs and launched Instabug as a remedy. Instabug is a software-as-a-service (SaaS) startup providing mobile developers with in-app feedback and...

Angola’s Banco Millennium Atlântico Gets $40 Million to (SMEs)

The package consists of a $32 million line of credit from the African Development Bank and an additional $8 million in par Efforts aimed to helping small and medium enterprises weather the storm of the Covid-19 impact in Angola has received a boost with the $40 million financial packages from African Development Bank and  African Growing Together Fund to support Angola’s Banco Millennium Atlântico (BMA) to bolster local production and job creation through its portfolio of small and medium-sized enterprises. Read also: [APPLY] Google, Flutterwave Training For 5000 SMEs Starts March 4 The package consists of a $32 million line of credit from the African Development Bank and an additional $8 million in parallel financing from the Africa...

Nigerian Helium Health raises $7mln from two foreign investors

Nigeria-based health tech startup Helium Health has successfully raised $7 million in equity investment from two foreign investors. One of them is Dubai-based venture firm Global Ventures which, with this co-investment, is making its first interest acquisition in the health tech segment in emerging countries. The second contributor is Singaporean Asia Africa Investment and Consulting. Read related articles: Villgro Kenya Awards $60,000 to East African HealthTech Startups The provided resources will finance the deployment of tech solutions and tools for health workers. To help fight the current coronavirus pandemic, Helium Health has developed telemedicine tools that are aimed at facilitating access to information and analyze results for covid-19 patients. According...

Nigerian agri-tech startup Farmcrowdy’s impact platform CrowdyVest has launched a bus-hailing service

Nigerian agricultural crowdfunding startup Farmcrowdy, through its general investment platform CrowdyVest, has launched bus-hailing service PlentyWaka.  Formed in 2016, the Farmcrowdy platform connects small scale farmers across Nigeria with access to finance sourced from individuals and corporates via its online platform, and has so far empowered over 25,000 farmers across 14 states. The company has been in the process of reorganising recently, bundling its sister companies Farmgate Africa and Agricsquare into a bigger Farmcrowdy in July, and spinning out CrowdyVest, an investment platform created to deploy crowdsourced capital into agriculture, transportation and beyond. See related posts: Villgro Kenya Awards $60,000 to East African HealthTech Startups CrowdyVest has now launched PlentyWaka, a bus-hailing service that already...

Profile: Tom Guest

Tom has over 10 years of financial market experience, and oversees Noble Capital’s Origination and Structuring efforts, splitting his time between the UK and Africa. He travels widely to develop new business and help manage transactions through to financial close, with a particular interest in the food, agri and energy value chains. Prior to joining Noble, he was a core member of the senior management team that grew a UK-based FCA-regulated structured commodity trading platform from start-up to a multi-million dollar business. Tom has worked extensively across South East Asia, the Middle East and North Africa. Tom has a First Class degree (BA & MA) in Classics and Arabic...

Profile: Patrick Burnell

Partick Burnell has about 25 years of experience at top-tier investment banks and inter-dealer brokers in London and Asia, Patrick has developed deep and widespread investor relations which give Noble Capital unrivaled penetration into the global investor audience. Key Work Experience Prior to joining Noble Capital, he set-up and ran the sub-Saharan Africa desk for the world’s largest inder-dealer broker, TP ICAP, as well as running other high-profile divisions such as structured credit derivatives within the group. Patrick previously held high-profile positions at top-flight investment banks such as JP Morgan, Nomura and RBS. Educational Background Patrick is a graduate of Cass Business School with a BSc in...

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