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Zola Electric raises further $32.5M to expand across Tanzania
Zola Electric - former Off Grid Electric - has raised $32.5 million in debt funding. FMO and Symbiotics arranged the facility to "finance the growth of ZOLA’s Tanzania operations over the next 5 years". The FMO-arranged senior loan will consist ...
GSMA Ecosystem Accelerator Innovation Fund adds 6 African startups
The GSMA has announced the 3rd cohort of startups that joined their Ecosystem Accelerator Innovation Fund. The cohort of 11 startups from emerging markets features 6 from Africa. These are; Agrocenta (Ghana), Coliba (Ivory Coast), Eneza Education ...
South Africa's Jumo secures more $12.5M in funding for expansion
Jumo, a financial services company with operations across emerging markets, has secured an additional $12.5 million in funding. The funding came from Odey Asset Management. In addition, James Hanbury, Partner at Odey Asset Management, joined the Boa...
Egypt's Wasla officially launches with $180k in Pre-Seed funding
Wasla, a browser that subsidizes users costs, has launched with $180,000 in pre-seed funding. The startup made the announcement at the recently concluded RiseUp Summit in Egypt. "After a year of developing the platform in stealth, Wasla successful...
Uganda's M-SCAN wins TechCrunch's Startup Battlefield Africa
TechCrunch held its second Startup Battlefield Africa in Lagos yesterday. Uganda's M-SCAN - a startup that develops portable mobile ultrasound devices, emerged the winner. While South Africa's Bettr, a virtual banking experience powered by the smartp...
Nairobi-based PayGo Energy raised $3.5M according to their SEC filing
Nairob-based energy startup, PayGo Energy raised $3.5 million this year per their Securities and Exchange Comission - SEC - filing done in August this year. There are no details regarding the investors and which type of round raised. Though, this ...
Mauritius, SA & Nigeria top Africa's 2018 E-commerce Index - Report
The United Nations Conference on Trade and Development (UNCTAD) has released a report on the global B2C E-commerce Index. According to the report, Mauritius, South Africa and Nigeria lead the rest of Africa. The UNCTAD B2C E-commerce Index measure...
In Brief: Egypt’s RiseUp raises seed round led by Endure Capital
Cairo-based RiseUp, the company behind one of the leading entrepreneurship events of the region - RiseUp Summit - has raised seed funding. Endure Capital led the round and was joined by Enara Capital, 500 Startups, and Kamelizer. RiseUp announce...
In Brief: Egypt's Nawah Scientific raises $1M Pre-Series A round
Cairo-based Nawah Scientific has raised $1 million in pre-Series A funding. The round was led by Endure Capital and joined by 500 Startups, Averroes Ventures and recently launched Egypt Ventures. An angel investor Dr. A. Abdelhamid also joined t...
Sawari Ventures closes $35M of its $70M North Africa dedicated fund
Cairo-based VC firm, Sawari Ventures, has raised half of its $70 million North Africa dedicated fund. The announcement, according to Menabytes, was made at the Africa 2018 Business Forum in Egypt. The fund, called Sawari Ventures North Africa Fun...
Tech leaders, startups and creatives to connect at Africa Tech Summit in Kigali
With less than three months to go until Africa Tech Summit Kigali, the first 35 expert speakers from across the continent have been announced for the pan-African event at the Kigali Convention Centre in Rwanda on February 13-15t, 2019. The Summi...
Kenya's vehicle leasing firm is planning to raise $10M through a 2019 IPO
Kenya's Vehicle and Equipment Leasing Limited (VAELL) - a vehicle leasing firm - is planning to list on the Nairobi Securities Exchange (NSE) early next year through an IPO. According to Business Daily, VAELL’s Chairman Joseph Kizza said that th...
Company LinkedIn pages now carry CrunchBase insights
Last month, LinkedIn announced a new outlook for company LinkedIn pages on the platform. According to LinkedIn, they rebuild the pages from the ground up. The aim was to make it "easier for brands, institutions and organizations to foster meaningf...
Two of Africa's leading boda-hailing startups are backed by same investor
Currently, at least 40% of Africa's population lives in urban areas. But, this figure is projected to rise to 58 per cent over the next three and a half decades. That is according to the UN‐Habitat. Yet, with the rise in the number of urban dwel...
Nigeria's Paga hires software engineers based in Nigeria for the first time
For close to a decade, Paga had its software developed and maintained in Ethiopia. This came as a result of an arrangement the company reached with Apposit, close to 10 years ago. While starting out, Paga considered outsourcing the software develo...