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Funding Tag

Morocco Launches New US$163m Windfarm To Boost Renewable Energy Utilization

MOROCCO – Morocco has launched the construction of the US$163 million Taza wind farm to boost renewable energy utilization in the country. According to a statement by Morocco World News the launch “follows the finalization of various agreements and contracts with Moroccan public entities, stakeholders ‘ONEE and MASEN’ and the establishment of financing provided by international banks.” The wind farm will be constructed through a partnership between France’s EDF Renewable Energies (EDF-EN), Japanese trading house Mitsui, the Moroccan Agency for Sustainable Energy (MASEN), and Morocco’s National Office of Drinking Water and Electricity (ONEE). A statement from Moroccan authorities revealed that the Taza wind farm will be located approximately 15 kilometers...

Anzisha Prize Announces Top 20 Very Young African Entrepreneurs As Part Of 10th Year Celebration

The Anzisha Prize has revealed its top 20 finalists for 2020. Winners will be announced at this year’s Anzisha Prize Conference on the 27th of October, where the programme will be celebrating 10 years of supporting very young entrepreneurs. Meet the new cohort of very young entrepreneurs whose businesses are paving a new entrepreneurial landscape in Africa This year’s application season saw a record number of 1 200 applicants vying for a chance to join the Anzisha Prize fellowship. From these applications, 20 businesses emerged that were forty-five percent female-owned and represented sectors such as agriculture, manufacturing, and education. Young entrepreneurs from Morocco, South Africa, and Tanzania displayed...

Palladium Acquires Minority Stake In Bamboo Capital Partners

Bamboo Capital Partners, the impact investing platform, and Palladium, the global impact advisory and management firm, have entered a long-term strategic partnership to deliver impact at scale, a joint press release from the two firms has stated. Under the terms of the strategic partnership, Palladium has taken a minority stake in Bamboo. Bamboo and Palladium have joined forces to achieve their shared objective of mobilising private sector investment at scale to significantly contribute toward the UN’s Sustainable Development Goals by 2030. The strategic partnership combines Bamboo’s knowledge of institutional and private sector investors and its track record of impact investing in emerging markets, with Palladium’s global footprint, sector...

South Africa Needs To Scale Its Creative Economy [Opinion]

In order for South Africa’s economy to transition to keep up with 4IR developments, Glenn Gillis, CEO of Sea Monster, explains that we need to scale our creative economy. If South Africa is to ever thrive, it needs to evolve and truly start to compete in the knowledge economy. Until our economy is realigned around how we can sell world-class thinking and creative skills, services, and time, with intangible products at the core, we will always be fighting the last war and not the next one. The key here is using your skills to develop a complete business solution, embodied in a set of processes, tools, apps, or experiences...

Cameroonian Startup, Freshbag, Secures Investment From Greentec Capital

Freshbag, a Cameroonian agri-tech startup, has secured an undisclosed investment from GreenTec Capital Partners, a German investor into African start-ups and SMEs. Freshbag is an innovative digital Cameroon platform that connects farmers and vendors to ensure a fair and reliable food supply network. The company works hand in hand with agricultural cooperatives to facilitate the collection of crops and their transport to urban centers for distribution to help them improve their incomes and reduce post-harvest losses. Freshbag leverages on its network and in-depth experience in the industry, to buy produce from farmers and suppliers at fair market prices and dispatches the products to thousands of street vendors in...

Egyptian prop-tech startup Isqan raises 6-figure pre-seed funding round

Egyptian prop-tech startup Isqan has raised a six-figure US dollar pre-seed funding round as it launches its new platform designed to revolutionise the country’s real estate sector. Founded last month by Ali Ezzat and Karim Hazem, Isqan is a listings platform for users looking to rent or buy properties in Egypt.  The startup, which only went live with its offering in August, says it combines a user-friendly interface with a free services offering. Isqan has partnered a number of Egyptian real estate companies to offer users a wide range of trusted options.  Read also; Grant worth $25 000 launches for young SA filmmakers Isqan raised the six-figure pre-seed...

AFD, Afreximbank pump €150 in green finance in Africa

(Ecofin Agency) - The French Development Agency (AFD) and the African Export-Import Bank (Afreximbank) agreed to pump €150 million worth of green, low carbon, socially inclusive, and more resilient investments in the continent. AFD has made available a €500,000 grant for a technical assistance program for the development of Afreximbank's climate finance strategy. Ultimately, this partnership will enable the expansion of sustainable development financing mechanisms in Africa. Read also; Nigeria’s Lekoil Raises $100m For Ogo Oilfield Drilling The effects of climate change are costing the continent $100 billion, or 2.8% of its annual GDP. To meet this challenge, solutions must be developed both to mobilize external financing and to put in...

Daily Digest Thursday, 17 September 2020

Funding In Africa Senegalese delivery startup Yobante Express has expanded to five African markets Its web and mobile platform uses gig economy, independent and casual couriers within a resilient mesh network of relay points to deliver packages from point to point until the last mile, twice as fast and 40 per cent more affordably than existing solutions. Read more Funding In North Africa Egyptian prop-tech startup Isqan raises 6-figure pre-seed funding round The startup, which only went live with its offering in August, says it combines a user-friendly interface with a free services offering. Isqan has partnered a number of Egyptian real estate companies to offer users a wide range of...

SA edtech startup receives $7-million investment

Bradley Elliott, the Chief Marketing and Innovation Officer of Valenture provides insight into how the investment will help the edtech startup reach its goals.  The investment will be used towards the high-tech enabled boutique high school campuses in South Africa  “The investment will be used for further global expansion, enhancing the learning experience, and building out additional offerings such as new subjects and exclusive bootcamps like Coding, Design Thinking, Data Science, and more.” In addition, the funding will be used for resources dedicated to the roll-out of the school’s hybrid, tech-enabled, boutique campuses, which combine online learning, in-person guidance by Learning Coaches, and socialising with peers, and additional features...

Helios Investment Partners Eyes South Africa

Helios Investment Partners says it is eying South Africa for opportunities, claiming the current pessimism is “overdone.” “South Africa, notwithstanding the challenges that it is having - both from the human toll of Covid-19 and the economic challenges- paradoxically is becoming more interesting for us,” Tope Lawani (pictured), co-founder and managing partner at Helios, said in an interview with Bloomberg. No detail was provided on the companies Helios is targeting but the firm says it plans investments in fintech, insurance, and the energy sector. According to Tope Lawani, Helios is also considering the possibility of imitating a Ghanaian liquefied natural gas project in South Africa to help...

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