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Kenya Tag

Impact Investor Villgro Africa Backs Kenyan E-health Startup Damu-Sasa With US$20k To Enhance COVID-19 Capabilities

KENYA – Kenyan e-health startup Damu-Sasa, which runs an innovative end-to-end blood services information management platform, has been awarded US$20,000 in grant funding from Villgro Africa to enable it to enhance its contributions to mitigating the spread of COVID-19.  Damu-Sasa works across the entire blood ecosystem by helping hospitals source blood from donors and from each other, while also supporting screening, preparation of blood products and inventory and transfusions management.   The Damu-Sasa system also helps mobilize donors and tracks their donations, while giving them digital access to their donation history. The team works with hospitals and other multi-sectoral partners to increase voluntary donations from across the population, with the...

Kenya’s Centum Real Estate Bond Raises KSh3 Billion

Kenyan leading real estate firm, Centum has managed to raise KSh3 billion from the recently issued bond, against the target of KSh4 billion. The bond attracted diverse investors including, banks, asset management firms, pension funds, and individual investors. It is a three year bond with the maturity date set on December 16, 2023. Funds raised will go toward financing ongoing projects in the development of affordable housing in Kenya. Sources say that investors will earn a return of 12.5% for the plain vanilla bond and 12-14% for the Equity Linked bond. The bond will be listed on the Nairobi Securities exchange after it receives approval from the relevant...

Ghanaian Fintech Startup ZeePay Secures $940k Seed Funding From VC GOODsoil

Ghana has not seen so much venture capital in its startup ecosystem as 2020 runs out compared to South Africa, Kenya or Nigeria, but GOODsoil, an Africa-focused EU-based early stage venture capital firm is determined to make a dent, nevertheless. Headed by a diverse team of entrepreneurial investors, GOODsoil has soiled Ghanaian fintech company Zeepay with US$940 000 seed capital.  Read also: 6 Factors Standing In The Way Of Expanding Your Business “We are delighted to have GOODsoil on board,” says Zeepay co-founder and managing director Andrew Takyi-Appiah. “We believe with their strong brokerage background, with leading Ghanaian brokerage firm Obsidian Achernar in their portfolio, we will...

Umba, The Digital Bank For Africa Raises $2M In Funding To Expand In Nigeria & Kenya

Umba, the digital bank for emerging markets has raised $2 million seed funding round to expand product capabilities in Kenya and Nigeria where it’s currently operating. The $2 million seed round was from Ludlow Ventures and Lachy Groom, ex Head of Issuing at Stripe. Frontline Ventures and Act Venture Capital added to their previous investment in the company. According to Umba’s CEO, Tiernan Kennedy, “From the outset we built our platform to serve multiple markets, currencies and payment infrastructures. This flexibility is an extremely important consideration as it’s much harder to upgrade your systems at a later date. For example bank and debit card penetration is high...

Small Business Suggestions With Small Investment in Kenya

There is a great deal of opportunity for manufacturing companies in Kenya. The local market, as well as the potential for exports, can be the driving force for the performance of manufacturing units. Below you can find some profitable manufacturing companies in Kenya: Production of soap & detergent Production of leather goods Making Furniture The Candle Render Production of packaged drinking water Setting up a small bakery company can be a profitable small enterprise in Kenya. You need cooking equipment (pans, ovens, blending equipment, cake decoration equipment and measuring equipment), raw materials (meat, eggs, sugar), consistent recipes, business permits and licenses and strong marketing skills to start this business. When you...

TLcom Makes First Investment In African Healthtech As Kenya’s Ilara Health Raises $3.75m Series A Funding

Barely 2 months after receiving $1.1m in grant funding from the Bill & Melinda Gates Foundation, one of Africa’s most active investors, TLcom Capital has finally found faith in an African healthtech startup through Ilara Health, the Kenyan-based healthtech startup focused on bringing essential, affordable and life-saving diagnostics to African consumers. The startup has announced it has secured $3.75 million in Series A funding to enable it expand its diagnostic reach across Africa and to accelerate the development of its integrated patient health management platform. “This funding round allows us to significantly grow our on-the-ground presence and invest resources into our technology capabilities. In just one...

Nairobi-Based Startup OkHi Launches In Nigeria

A smart addressing startup, based in Nairobi OkHi, has partnered with Africa’s largest banking platform,  Interswitch to launch in Africa’s largest market, Nigeria.  The partnership aims to assist OkHi’s objective which is to provide 195-million Nigerians with access to a physical address. This will in turn lead to accelerating the eCommerce sector and ensuring financial inclusion. The launch in Nigeria will reportedly save the economy $2-billion a year and accelerate innovation across the economy. Read also: Egyptian Fintech Startup Zeal Rewards Secures Six-Figure Seed Funding OkHi is a smart addressing startup. Smart addressing systems allow people to attach a phone number, email address, and their account details to make convenient payments without...

A New $4 Million Fund Launched For Off-grid Companies In Kenya By AECF

Off-grid energy startups in Kenya have a new fund to pitch. Africa Enterprise Challenge Fund (AECF) has launched a $4 million financing programme aimed at unlocking new markets for clean energy as well as accelerating access to clean energy for 87,000 unserved and underserved households in Kenya. “Off-grid energy sector continues to require investment if we are to make notable progress in improving access to affordable and clean energy. We are excited to be launching the REACT RBF programme through which we seek to provide results-based incentives for companies that are increasing access for unserved and underserved communities,” said Victoria Sabula, chief executive officer of AECF.  Read...

Beyond Grants And Impact Investments, There’s A Growing Interest In Africa.

How much impact investment comes into Africa every year? And do you think it’s enough?  My bet is that even if you don’t know the answer to the first question, you probably know the answer to the second question: It’s not enough. Over the years impact investing in Africa has seen a steady rise.  As at 2014, the UNDP estimated that at least $8 billion had come into Africa via impact investment. Yet, there’s still a huge gap of $100 billion annually needed to support  Africa’s much needed growth. Read also: Kenyan Off-grid Startup SunCulture Raises $14m To Flood Africa With Solar Water Pumps Impact investments are investments made in companies, organizations...

Kenyan Startup Launches Lease-To-Own Vehicle Marketplace

A Kenyan-based vehicle financial management startup, Motoqaa, announced the launch of a new digital platform that allows gig workers in the taxi-hailing industry to acquire vehicles at any time. Created by Motoqaa in June 2020, the platform is a lease-to-own vehicle marketplace. The new and innovative marketplace will allow taxi industry professionals to acquire vehicles from various lessors at the end of the lease period with no additional costs to the drivers.  Read also: South Africa’s Car Subscription Startup, Planet42, Raises $10 Million In Debt Round Motoqaa is responsible for the sourcing of drivers, collecting payments, and operations that ensure vehicles and drivers are kept on the road. The...

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