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Cameroonian Gaming Startup Kiro’o Games Raises $342k Via Crowdfunding To Invade Smartphone Games Market

Building on the success of “Aurion’s Heritage of Kori-Odan”, which in 2016 became the very first video game made in Cameroon, Cameroonian startup Kiro’o Games has announced it has raised $342k as part of a fundraising campaign it launched in 2019. Buoyed by the funding, the startup has announced the launch of its very first game on PlayStore. Read also: Cape Town Launches An Innovation Challenge For Entrepreneurs “We have delivered ‘Early Access’ our game (…), which allows any player to experience the life of a high official of the Imaginary Republic of Mboa in a comic fashion. It is the first time in world history that the life of...

Uganda Approves US$575m Tullow Stake Sale To Total

UGANDA – Tullow Oil has received an approval from the Ugandan government for the sale of a $575 million stake in an oil project to Total. The beleaguered oil explorer has been waiting since 2017 to close its divestment in the Lake Albert Development Project, an effort repeatedly hindered by tax disagreements with Uganda government. Read also: Kenyan Bus Management Startup Data Integrated Secures Funding Via Bond Issuance From Toyota Tsusho As it sought relief from lenders this year to avoid blowing through debt covenants, securing proceeds from the sale became key to restoring stability. “The government of Uganda and the Ugandan Revenue Authority have executed a binding tax agreement,” Tullow said...

Cape Town Launches An Innovation Challenge For Entrepreneurs

The Craft and Design Institute (CDI), a non-profit company, and the City of Cape Town have partnered to launch a new challenge for entrepreneurs. Titled, Re:solve, the challenge aims to empower and encourage entrepreneurs and SMEs to create innovative solutions to current issues faced in transport, hygiene, food security, education, medical care, retail, and micro-enterprises.  Read also: Toyota’s Mobility 54 Fund Will Invest $45 Million In African Startups In 2021 James Vos, Mayoral Committee Member for Economic Opportunities and Asset Management of the City of Cape Town explains that the project plans to tap into the creative potential of Capetonians.   “The goal is to unlock new products and solutions...

Kenyan Bus Management Startup Data Integrated Secures Funding Via Bond Issuance From Toyota Tsusho

Toyota Tsusho has invested in “Data Integrated,” a startup that develops and provides operation management systems for bus operators in Kenya. The company collects bus location information in real time and provides it to businesses and passengers. Toyota Tsusho will support the digitization of bus traffic in Kenya, where it is difficult to understand the operation status. “We are very happy to welcome mobility54 a Toyota group of companies as an investor and partner,” said CEO and founder, Data Integrated, Mary Mwangi. Here Is What You Need To Know Toyota purchased Data Integrated’s convertible bonds (convertible bonds = CB) through its subsidiary CFAO, a French trading company, and Mobility 54, an investment company...

Toyota’s Mobility 54 Fund Will Invest $45 Million In African Startups In 2021

African mobility startups may start to prepare themselves ahead of 2021 as leading Japanese vehicle manufacturer, Toyota is set to pour over $45 million in African startups next year. With its Mobility 54 investment fund, Toyota not only wants to play a key role in the development of mobility in Africa, but also to boost its vehicle sales there.  Here Is What You Need To Know Toyota plans to invest $ 45 million in transportation and asset finance startups in Africa in 2021, Takeshi Watanabe, CEO of Mobility 54, the investment fund launched by the Japanese automaker in August, 2019.The fund targets African startups equipped with innovative mobility...

Morocco Intensifies Shift Towards Renewable Energy As Total Investments Exceed US$5.6B

MOROCCO – The Kingdom of Morocco has intensified its efforts to up the share of renewable energy in electricity generation through increased investments in the sector over the past 10 years. According to Morocco’s Minister of Energy Aziz Rabbah, the North African country’s investments in the field of renewable energy has exceeded MAD 52 billion ($5.65 billion). The minister said that Morocco was committed to invest a similar amount in the sector in future to fully exploit the potential of renewable energy in the country. Read also: Government Launches A $343m Credit Guarantee Scheme For Businesses A few years ago, Morocco imported about 90% of its energy needs. In 2014, the...

Fintech, E-commerce Firms Go Big In Buy Now, Pay Later Service Ahead Of Festival Season

Fintech companies and e-commerce firms are increasingly focussing on buy-now-pay-later options, wherein consumers can buy an item and get interest-free credit for 35-45 days . Interest is subsequently charged on any amount that remains to be paid. Until now, most players focused on extending a credit line to borrowers, wherein the customer could withdraw any amount until he exhausted the credit line. However, considering that it is a point-of-sale loan, interest rates are higher than personal loans. “A traditional loan is the cheapest. A credit line is more expensive than a traditional loan and pay-later loans would have higher interest rates ranging between 20% and 36% per annum," said Gaurav Gupta,...

Government Launches A $343m Credit Guarantee Scheme For Businesses

The government of Ghana has launched a GH¢2 billion ($343m) guarantee scheme to support universal banks in the country to offer financial support to small and medium enterprises (SMEs) for them to recover from the COVID-19 shocks. The Ghana Care Guarantee Scheme (GCGS), to be administered by the Ghana Incentive-based Risk-sharing System for Agricultural Lending (GIRSAL), is to help SMEs to borrow from banks at lower rates and with longer tenor. Read also: 5 Nigerian Startups Selected To Join 7 Others At The Africa Tech Summit Connects (ATS) The GIRSAL is a non-bank financial institution incorporated as a private company by the Ministry of Finance, with seed funding from the...

5 Nigerian Startups Selected To Join 7 Others At The Africa Tech Summit Connects (ATS)

Five Nigerian firms have been shortlisted among the 12 African startups to pitch live at this month’s digital Africa Tech Summit Connects in Kigali, Rwanda. This is to showcase their solutions to the global audience of 500 investors, corporates, and other stakeholders. Read also: Nigerian Ed-Tech Startup Edves To Raise Funding To For Further Expansion In Africa Disrupt Africa and Africa Tech Summit (ATS) disclosed it had reviewed its partnership to integrate startup-focused sessions plenary and pitching chances in its virtual Africa Tech Summit Connects event scheduled to hold virtually on the 20th – 22nd of October 2020. What you need to know ATS is a fully-virtual event and not...

Twilio Is Buying Customer Data Startup Segment For Between $3B & $4B

Sources have told TechCrunch that Twilio intends to acquire customer data startup Segment for between $3 and $4 billion. Forbes broke the story on Friday night, reporting a price tag of $3.2 billion. We have heard from a couple of industry sources that the deal is in the works and could be announced as early as Monday. Twilio  and Segment are both API companies. That means they create an easy way for developers to tap into a specific type of functionality without writing a lot of code. As I wrote in a 2017 article on Segment,  it provides a set of APIs to pull together customer data from a variety of sources: Segment has made a name for...

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