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Zebu Investment Partners Takes Majority Stake In SA AgTech Platform

Zebu Investment Partners through its sophomore fund, the Africa Food Security Fund, has acquired a majority equity stake in South African Ag-Tech company IQ Logistica (IQL). Zebu Investment Partners through its sophomore fund, the Africa Food Security Fund, has acquired a majority equity stake in South African Ag-Tech company IQ Logistica (IQL). IQL is the owner and developer of a cloud-based platform used to collect, collate, and aggregate data for the purposes of tracing agricultural outputs and related key data as these progress through the value chain. The AFS Fund focuses on food production and processing across Africa, underpinned by the assertion of the positive impact which investing...

Daily Digest Wednesday, 9 September 2020

Funding In Africa Unilever invests $1.2bln to replace oil products in cleaning brands Unilever announced an investment of $1.2 billion to cut fossil fuels from all of its cleaning brands. The move aligns with the company’s ambition to become more environment-friendly and reduce its carbon footprint. Read more Funding In Southern Africa SA startup Secures $3.3-Million In Funding The funding was received in a Series A Round to from Platform Investment Partners (PIP) invested, Ruby Rock Investment and LBO. The funding was secured in May 2020 and has enabled the innovative tech startup up to scale-up its footprint to supplying its pay-as-you-go solar-power devices to over 100 000 customers in Malawi and Uganda....

Profile: “The Demuren twins”

All about Let'sDressYouUp Let's Dress You Up is an up and coming premium image and personal styling consultancy. At the helm of this brand is a dynamic duo, 'The Demuren twins'. These identical twin fashionistas had conventional corporate careers in Law  and Human Resources respectively before turning their energy to Image Consultancy, due to their keen sense of style and passion for seeing women gain confidence through their appearance. "We want every client to go away assured that they have the Industry knowledge and tools required  to present the best version of themselves to the world." The duo credit their innate love for fashion to their beloved...

JobCrystal receives R4.2 million investment from an investment fund for female entrepreneurs and women founders

A female founded startup called Job Crystal has received R4.2-million in funding from Enygma Venture’s Shift Fund.   Investment details   The investment is expected to make it easier for employers to hire the right talent faster than ever, making a dent in unemployment rates at the same time.  About Job Crystal    JobCrystal is one of South Africa’s leading recruitment companies. Founded by dynamic female duo, Sasha Knott and Kelly Louw, Job Crystal has established its name as a premium recruitment company.   The platform also offers loads of other valuable stuff, like salary information, suggested skills, career pathing, networking opportunities and its growing database of corporate employers to have more jobs on offer. It also helps...

Kenya’s Savanna Circuit Tech Banks US$100,000 Grand Prize at Cisco Global Problem Solver Challenge 2020

Savanna Circuit Tech, an AgriTech startup that develops a solar chilling in-transit system for dairy farmers was awarded the grand prize of US$100,000 at the Cisco Global Problem Solver Challenge 2020. Founded by Emmastella Gakuo and Percy Lemtukei in 2017, Savanna Circuit manufactures and distributes last-mile, non-refrigerant, solar-powered milk chillers that can be placed on any means of transportation, from motorbikes to trucks. Their AI-enabled ICT solution allows milk aggregation, traceability, and quality control to prevent milk spoilage and maximizes profits for dairy producers.  In its fourth year now, the Cisco Global Problem Solver Challenge is an online competition that awards cash prizes to early-stage startups that have developed a...

With $328 million funding, Nigeria approves Internet fibre extension to Northern Nigeria

The Nigerian government has approved a new initiative to extend fibre infrastructure to the 19 states in Northern Nigeria. The project, tagged the National Information Communications Technology Infrastructure Backbone, NICTIB II, aims to improve broadband infrastructure in the Northern parts of Nigeria. The Managing Director, Galaxy Backbone, GBB, Professor, Mohammed Abubakar explained that this particular backbone infrastructure will move from Abuja to Plateau, Gombe, Bauchi, Maiduguri, Kano and the rest of Northwestern Nigeria. Galaxy Backbone, an agency within the ministry of communications and the digital economy, is the digital infrastructure provider of the federal government. Its aim is to develop and implement a national Internet and data infrastructure...

Launch of the 2020 North Africa Economic Outlook report

The North African Bureau of the African Development Bank will launch the 2020 edition of the North Africa Economic Outlook Report virtually on Tuesday, 14 July 2020 at 15:00 (Tunis). This third edition of the report is one of the Bank’s flagship publications and provides an overview of North African economies, based on a regional approach to development. The theme for the 2020 launch is “Developing the workforce and skills for the future”. The Report will be presented by Emmanuel Pinto Moreira, Director, Country Economics Department, and Audrey Verdier-Chouchane, the Regional Economist for North Africa. The event will provide an opportunity to explore the key findings of the...

Daily Digest, Wednesday 17 June 2020

Funding In Africa 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. Read more France’s Largest Telecom Operator, Orange, To Enter Nigerian And South African Markets Telecom operators in Nigeria and South Africa should be worried about their market shares. This is because Orange, France’s largest telecom operator, believes it would benefit from having a wider footprint in Africa Read more Funding In East Africa 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...

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...

Jahez successfully closes US$36M Series A funding round, led by Impact46 in Saudi Arabia

Jahez, a food delivery platform offering a full logistics solution has raised US$36M USD Series A funding, led by reputed investor, Impact46. - Jahez utilizes technology to streamline its online food delivery management software. The platform automates the inbound order flow through a single point, given by Jahez, and provides last-mile delivery service.- They have processed more than 20 million orders for leading household brands and the company is on its way to exceeding a billion riyal of orders value in 2020 sourced from over 12,000 points of sales across KSA.- Jahez aims to use this funding to invest in building differentiated offerings, plugging the white spaces in the ecosystem, expanding in new verticals...