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GFA Daily Digest Tue, Feb. 25, 2020

East Africa Funding Secured to Tackle East Africa Locust Invasion North Africa Egyptian beauty services platform Glamera expands to Saudi Southern Africa South African Airways Faces Long Haul After Funding LifelineSouth Africa’s Bitcoin Startup Centbee Raises Additional Funding After Earlier $1.3 Million West Africa Nigerian digital escrow service Vesicash raises funding from Ingressive Capital10,000 Cocoa farmers in Liberia set to benefit from USD 47.6 Million project Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

10,000 Cocoa farmers in Liberia set to benefit from USD 47.6 Million project

About 10,000 cocoa smallholder producers in Liberia will benefit from a new $47.6 million project that aims to improve their food and nutrition security and raise their incomes by modernizing cocoa farming, increasing production and developing markets. The financing agreement for the Tree Crops Extension Project II (TCEP II) was signed by correspondence by Gilbert F. Houngbo, President of IFAD and Samuel D. Tweah, Jr., Minister of Finance and Development Planning of the Republic of Liberia. Project financing includes a $11.9 million loan and $11.9 million grant from IFAD. The project will be cofinanced by the private sector ($3.4 million), the Government of Liberia ($2.5 million) and...

Nigerian digital escrow service Vesicash raises funding from Ingressive Capital

Nigerian digital escrow service Vesicash has raised an undisclosed amount of funding from Ingressive Capital to help it grow its customer base and secure key partnerships. A digital escrow service, Vesicash was built to prevent digital fraud and disputes by providing payment security for all parties involved in P2P or marketplace transaction. The startup raised US$100,000 in pre-seed funding in November 2018, and has now raised a larger round from Ingressive Capital. Aside from the funding, the VC firm will also assist Vesicash with things like go-to-market strategy, sales, marketing and securing partners. Read more from source article: https://nipc.gov.ng/2020/02/21/digital-escrow-service-vesicash-raises-funding-from-ingressive-capital/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

SA bitcoin payments startup Centbee raises fresh funding

Centbee, the South African bitcoin cash wallet has secured additional funding from an Amsterdam-based VC fund Two Hop Ventures to further develop its products.  “We’ve enjoyed a high user growth rate and have a clear path to revenue. With Two Hop’s support, we’ll continue building more utility into our products by leveraging the BSV blockchain and delivering world class app functionality to our users,” Angus Brown, co-CEO of Centbee said.  Read more from source article: https://afrikanheroes.com/2020/02/23/south-africas-bitcoin-startup-centbee-raises-additional-funding-after-earlier-1-3-million/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

South African Airways Faces Long Haul After Funding Lifeline

South African Airways finally secured the funding it needs to keep flying for the time being, yet there’s still a long way to go before the state-owned carrier can claim to be stable. SAA probably has enough cash to keep operating for as long as eight months after the Development Bank of Southern Africa stepped in with a 3.5 billion rand ($240 million) injection, according to Joachim Vermooten, an independent aviation consultant. The carrier is running at a loss of about 500 million rand a month and the situation may deteriorate as it scraps flights and reduces ticket prices to attract wary customers, he said. Read more...

Egyptian beauty services platform Glamera expands to Saudi

Glamera, a Cairo-based beauty services platform has expanded to Saudi with the launch of its service in Riyadh, it told MENAbytes today. The move comes a few months after Glamera raised $250,000 in seed funding from a Saudi angel investor. Launched last year, Glamera enables users to book appointments for different beauty and health services at beauty salons and clinics, spas, gyms, diet clinics, and dental clinics, using its mobile app (available for both Android and iOS). The startup now has close to 500 service providers in its network including 80 in Riyadh and claims to have served over 70,000 users since its launch in July 2019. Read more from source article: https://www.menabytes.com/glamera-saudi/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

Funding Secured to Tackle East Africa Locust Invasion

Nairobi — EFFORTS to tackle the worst invasion in years by desert locusts in East Africa have received a major boost after the United States provided $8 million (R120,7 million). The funding will support ground-based and aerial intervention efforts in Ethiopia, Kenya and Somalia where billions of pests are devouring crops and vegetation as well as destroying livestock pastures. This announcement brings the US government's response to the outbreak of locusts to nearly $9 million (R135,8 million), including funding already provided to the United Nations Food and Agriculture Organisation (FAO) in Ethiopia to control and prevent the spread of the infestation, train more than 300 pest experts...

Singapore fintech startup Hoolah expands to Malaysia

Hoolah a Singapore-based fintech company, announced it is bringing its interest-free installment solution to Malaysia. Founded in 2018, Hoolah allows consumers to pay for their purchases in three monthly installments without any interest or fees. By partnering with over 300 merchants in Singapore, the company claims to have delivered an average 20% to 30% increase in conversion and basket size. In 2018, Hoolah raised a seven-digit funding round led by AccelerAsia Ventures and Aletra Capital Partners. The startup is now expanding outside of Singapore and bringing its buy now, pay later solution to merchants across Southeast Asia, with Malaysia as its first new market. Read more from source...

Chinese logistics service platform, Yimidida raises $143m in Series D+ round

Shanghai-based logistics solutions provider Yimidida Supply Chain Holdings Ltd has garnered approximately 1 billion yuan ($143 million) in its Series D+ round from a set of undisclosed investors, per a company statement on Tuesday.  Read more from source article: https://www.dealstreetasia.com/stories/china-yimidida-series-d-round-175368/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

Nigerian solar startup Daystar Power raises $4m debt funding

Daystar Power, a Nigerian renewable energy firm, has closed $4 million debt financing from SunFunder. Daystar Power will invest the new funds in producing up to 3MW of C&I projects for clients including top tier financial institutions and other small and medium-sized enterprises. This will mitigate over 100,000 tons of CO2 emissions annually. Daystar Power specialises in providing solar power and energy efficiency solutions for businesses in the commercial, industrial, and agricultural sectors that result in at least a 20% reduction in energy costs and 50% reduction in diesel consumption for end users. Rim Azirar, who led the transaction for SunFunder, highlighted the scalability in both the structure of the loan and Daystar’s...

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