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African genomics startup 54gene raises $15M led by Adjuvant Capital

Senta Greater availability of African genomic data could lead to medical breakthroughs for the continent's 1.2 billion people. That's the driving proposition of 54gene — a U.S. and Nigeria-based startup — that collects African genetic code for use in health research and drug development. The company has closed a $15 million Series A round, in part, to address a deficiency in these processes. "As of the time we launched, less then 3% of all genome wide association studies globally had been conducted in Africa. There was a lack of data coming from Africans...

IFC invests $20mln in SPE Capital’s SPE AIF I

The International Finance Corporation (IFC) is investing up to $20 million in SPE AIF I, a fund managed by private equity firm SPE Capital Partners which targets small- and mid-cap companies operating in North Africa, mainly in Egypt, Morocco, and Tunisia. “With IFC’s support, we hope to not only provide growth capital but also industry and value-creation expertise, which are all currently limited in MENA with focus on North Africa,” said Nabil Triki, Managing Partner and CEO of SPE Capital. Before IFC’s financing, SPE AIF I received support from investors such as Proparco and the European Investment Bank. In FY2020, the IFC has so far committed nearly $40.5 million...

IMF approves $1 bln in emergency aid for Ghana, $442m for Senegal

The International Monetary Fund on Monday said its executive board had approved $1 billion in emergency funding for Ghana and $442 million for Senegal to enable both countries to respond to the rapidly-spreading coronavirus pandemic. Ghana was at high risk of debt distress, the IMF said in a statement. It said the large disbursement of emergency aid would help the West African countries address urgent fiscal and balance of payments needs, and catalyze support from other development partners. It said it stood ready to provide further policy advice and further support to both countries as needed. Read more from source article: https://news.yahoo.com/imf-approves-1-bln-emergency-222859015.html Click here to subscribe for GetFundedAfrica Newsletters:...

Weekend Feature – Profiles of Agric Investors

This weekend, we look at profiles of investors into Africa's Agriculture space, with an emphasis on Agritech. 1) True Ventures True Ventures is a Silicon Valley-based venture capital firm that invests in early stage technology startups. With more than $2 billion under management, True provides seed and Series A financing to entrepreneurs in today’s fastest growing markets. To date, True has helped more than 300 companies launch and scale their businesses, creating over 20,000 jobs worldwide. Investment Chest: $2billion What They Say About Themselves We invest in founders with whom we're aligned on mission, meaning, and the belief that entrepreneurship can and should make the world a better place.Our goal...

Standard Bank acquires 40% stake in Payment24

Standard Bank has acquired a 40% stake in the digital fuel management solutions and telematics company Payment24 Group. Payment24 Group is a technology development firm that supports companies with large fleets, and has partnerships with major filling stations in the country. The company’s solutions – including the Payment24 fuel management platform, fleet fuel management solutions, mobile fuelling solutions, vehicle tracking, telematics and geofencing solutions – are developed out of South Africa to support smart fleet and fuel management and payments on the African continent. Joint CEOs of Payment24, Shadab Rahil and Nolan Daniel, said that the new deal comes on the back of a successful three-year relationship with...

How To Raise Funds For Your Startup Business: Online Events -April 14th

A series of online events on: Raising Money For Your Business - Startup FundingHow to kickoff of a Global Startup In CanadaHow to raise Pre-seed funding from InvestorsRaising Angel Investment Date: April 14th & 15th 2020 Read more from source article: https://fi.co/events Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...

Founder Institute and Semicolon Team Up to Support Early-Stage Founders with Technical Resources

The Founder Institute, the world’s largest pre-seed accelerator program, and Semicolon, an organisation turning Africa’s vibrant youth population into an army of technologists – software developers, enterprise architects, project managers, etc., are announcing a local partnership to further connect early-stage startups with technical resources. As part of this partnership, the two organizations are announcing a mutual partnership to collaborate and work with aspiring software engineers and entrepreneurs in the tech ecosystem through Founder Institute program and Semicolon’s Techpreneurship program in Lagos, Nigeria. “A country’s greatest investment is in its people and we must do what we can at all times to drive it—drive them.” - Semicolon Founder...

Africa Bank 4.0 Summit

Africa Bank 4.0 Summit brings together the haut monde of Africa’s financial sector to address solutions around transforming Africa’s digital financial services roadmap keeping view how the 4th Industrial Revolution makes an impact. This must attend summit focuses on how financial services providers can capitalize on new technology to bring more value-added services to the mass market customer segment, what are the opportunities in collaborating with third party disruptors to enhance the customer value chain, and how to ensure a safe and secured experience. The impressive growth in financial inclusion in Sub-Saharan Africa over the last few years has been driven primarily by mobile money and...

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