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North Africa Tag

Why Are Investors Rushing After North Africa’s Fashion Startups?

No region of Africa has seen as much investment in its fashion e-shops as North Africa, and particularly Egypt. In 2020 alone, about seven major deals were closed on fashion startups in the region, at least six of them in Egypt. This trend is uncommon in the startup ecosystems of Sub-saharan Africa. In fact, apart from Afrikrea, an Ivory Coast-based startup, whose ecommerce platform has a fashion section, and which recently raised $1 million in funding, it is very rare to see a startup exclusively built for fashion raise investments from venture capital firms as well as other types of investors in other parts of Africa....

TANA AFRICA CAPITAL INVESTS IN EGYPTIAN HOSPITAL OPERATOR, MABARET

Leading private equity firm, Tana Africa Capital has announced its investment into Mabaret Al Asafra (“Mabaret”) a leading hospital operator in Alexandria, Egypt. The investment was done through its second fund Tana Africa Capital II (“TAC II”) and made directly into Alexandria for Healthcare Investments (“AHI”), that owns the majority stake in the Mabaret hospitals and laboratory. Mabaret currently operates two hospitals and a laboratory business in Alexandria and will launch a new hospital in central Alexandria in the second half of 2020, increasing the total beds to over 400. Tana as an active and long-term investor forms a partnership with the highly experienced operator AHI, backed by a...

Daily Digest Friday, 22 May 2020

Funding In West Africa Kenyan Agritech Startup Apollo Agriculture Raises $6m Series A To further Scale Its Business Apollo Agriculture, the Kenyan agri-tech startup has secured a US$6 million Series A funding round to continue rapidly scaling by partnering with more farmers, expanding its product offerings, and growing its team. Read more...

Egypt Tops North Africa And The Middle East In Number Of Startup Funding Deals For Second Consecutive Year

More startups in Egypt have raised funds from investors than in any other country in the whole of North Africa and the Middle East (MENA) in the first quarter of 2020 (January-March), according to a report issued by MAGNiTT startup Intelligence agency which produces startup funding reports for the MENA region. Egypt is also top in the number of nationals founding startups in the region, Here Is What You Need To Know According to the report, Egypt recorded the largest number of deals, accounting for 37% of the total deals in the region, Saudi Arabia, the second fastest growing startup environment, accounted for 24% of all deals made.Egypt has witnessed a major...

Daily Digest Thur, Apr. 23, 2020

getfundedafrica.com Africa Netpreneur Prize Initiative (ANPI) is still searching for Africa's business heroes 2020 This year the Jack Ma Foundation announced it officially launched the second edition of the “Africa’s Business Heroes” (ABH) prize competition with applications now open to African entrepreneurs from all 54 African countries, as well as every sector, age group, and gender. Applications will also now be available in both French and English. Read more...

Daily Digest Wed, Apr. 22, 2020

We bring you the latest funding information from across Africa Introducing Co - investment deals in Africa Global consulting firm, McKinsey says the total value of co-investment deals has grown to US$104 billion since 2012. Typical venture funds secure commitments from external investors (LPs), find portfolio companies to invest in and hire investment bankers to manage the fund. This funding method is not very common in Africa, however Future Africa Fund, an investment arm of Future Africa founded by Iyin Aboyeji, Chuba Ezekwesili, Olabinjo Adeniran and Adenike Sheriff in 2019 is testing the co-investment model. Read more Funding in Southern Africa Alexander Forbes divests insurance activity...

Daily Digest Tues, Apr. 21, 2020

We bring you the latest funding information from across Africa Zayed Sustainability Prize opens applications to innovators with $3m in prize money The Zayed Sustainability Prize is calling on African innovators who have solutions that address some of the world’s biggest sustainability challenges to enter its 2021 edition. Funding in Southern Africa VC firm Enygma Ventures has launched a ZAR20 million (US$1 million) fund to support African startups, entrepreneurs and innovators that are building solutions for the post-pandemic world. Enygma Ventures, the US-based VC firm founded by award winning entrepreneurs Sarah and Jacob Dusek, last year launched a fund with a focus on investing in women entrepreneurs in the SADC region, making it's...

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...

DGGF Investing in the entrepreneurial ecosystem of Morocco

On 13 March 2020, the Netherlands Embassy in Morocco, in partnership with the Moroccan Center for Innovation and Social Entrepreneurship (MCISE), closed the 2nd edition of the Orange Corners Morocco programme with the award ceremony of the Orange Corners Innovation Fund (OCIF) to the 5 most innovative startups. On this occasion the Azur Innovation Fund (AIF) was launched – an investee of the Dutch Good Growth Fund investing in innovative high-impact start-ups. Furthermore, the results of the Tidjani “Closing the Gap” study were presented. This study focuses on the "missing middle" in the entrepreneurial ecosystem in Morocco. Orange Corners Morocco Orange Corners Morocco is an incubation programme for...

European Development Bank to Boost Moroccan Olive Sector with €5 Million Loan

Companies under the umbrella of Al Dahra Holding in Morocco, Al Dahra Morocco Factories (ADFAC), and Al Dahra Morocco (ADMO) will benefit from the loan. With the BERD investment, the companies intend to build a new olive oil factory in the Fez-Meknes region.  Read more from source article: https://www.moroccoworldnews.com/2020/04/298269/european-development-bank-to-boost-moroccan-olive-sector-with-e5-million-loan/ Click here to subscribe for GetFundedAfrica Newsletters: https://getfundedafrica.com/pricing-plans/ ...