There hasn't been much exciting tech startup activity across the continent apart from an investment Leapfrog Ventures is looking to make into three Ugandan startups. However, here's the top 5 stories of what has happened.
1. MEST welcomes largest cohort yet to entrepreneurship training course
The Accra-based Meltwater Entrepreneurial School of Technology (MEST) has chosen its largest cohort of Entrepreneurs in Training (EITs) yet, with representatives from 12 African nations. Full story on Disrupt Africa.
2. CoGrammar to make 200 hires in Cape after new funding, reveals SA founder
Riaz Moola, the founder of UK and SA-based edtech startup CoGrammar, says his startup will hire 200 employees in Cape Town by the end of next year, after closing a Series-A funding round earlier this year. Full story on Ventureburn.
3. Tugende, an asset-financing company, is expanding into leasing cars
Tugende, an asset-financing company that operates a lease-to-own business model, is moving to start leasing cars after raising $5 million in debt from OPIC. This was revealed by the company’s CEO, Michael Wilkerson, in an interview. Full story on Digest Africa.
4. Investors use loophole in VC tax incentive to invest in own companies – Sars
In South Africa, Investors are using a loophole in a venture capital (VC) tax incentive to invest in companies connected to them and benefit from a whopping 125% write-off on their taxable income, the SA Revenue Services (Sars) revealed yesterday. Full story on Ventureburn.
5. Leapfrog Ventures to invest $190k into Uganda’s trio; Xente, Swipe2pay & Francom
Leapfrog Ventures is set to invest $190,000 into Xente, Swipe2pay, and Francom. Xente is taking the bigger chunk with $100,000 while Francom and Swipe2pay will each take $50,000 and $40,000 respectively. Full story on Digest Africa. Earlier this week, Leapfrog announced a $50,000 investment in Kenya's BiasharaBot.
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