The Daily Brief: ADB invests €7M into Partech Africa Fund, and more.

The African Development Bank – ADB – has approved the investment of €7 million into Partech Africa fund. While Eight South African fintech startups have been selected to take part in the AlphaCode Incubate programme, gaining access to ZAR1 million (US$70,000) in grant funding and 12 months or support services. This and more in today's daily brief.

Cameroonian fintech launches to improve small business access to finance

Fintech startup SMECreditPro has launched in Cameroon, aiming to improve access to finance for small businesses through its company information and credit rating solution. Full details on Disrupt Africa.

African Development Bank invests €7M in Partech Africa Fund

The African Development Bank – ADB – has approved the investment of €7 million into Partech Africa fund. This brings the total funding raised by Partech for its Africa fund to €79 million. Additionally, ADB will get a seat on Partech Africa's board. More details on Digest Africa.

Hardware technology incubator Savant looking at setting up a venture fund

Cape Town-based hardware tech incubator Savant is considering setting up a venture fund which will likely be launched next year in the first quarter says the incubator’s CEO, Nick Allen. Full details on Ventureburn.

Eight black-owned fintechs win R16m worth of funding, support from AlphaCode

Eight black-owned fintech startups have won business support and funding totaling R16-million from Rand Merchant Investment Holdings’ (RMI) fintech incubator AlphaCode. The eight — which include SELFsure, Akiba Digital, the ISpani Group, Jamii, Nisa Finance, Pago, Prospa and Yalu (see their respective pitch videos below) — were selected last night (18 October) as winners of the AlphaCode Incubate initiative following a pitching session. Full details Ventureburn.

Kenyan And Senegalese Tech Startups Secure Investments From Investisseurs and Partenaires

Two African startups have secured funding from an investment firm, Investisseurs & Partenaires (I&P), in what appears to be the first set of funds released from the coffers of the investment firm’s IPAE 2 Fund – capital machinery that is believed to be worth up to $ 59 Million. The exact amounts disbursed to the respective startups in investments are yet to be disclosed. Full details on Weetracker.

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