Here's a brief look at the main activities that have happened across the continent.
- Visa and Branch partnership
Payments technology company, Visa, and Nairobi mobile-based money lender Branch International have announced a partnership under which the latter will offer custom financing to merchants who accept payments via Visa.
The loans will provide merchants with funds to grow their business through supplemental stock, infrastructure investment, and other key operational needs. Eligible merchants will be able to access loans of up to KSh30, 000 ($300) which can be repaid within 6 months.
2. Village Enterprise Raises $3.5 Million for poverty alleviation in rural Kenya and Uganda
Village Enterprise has raised $3.5M of working capital from private investors and philanthropic sources to provide first-time entrepreneurs who live in extreme poverty with seed capital, training and mentoring to start more than 4,600 small sustainable businesses in rural Kenya and Uganda by 2020.
3. UK energy company Centrica to invest $100m in Israeli startups
UK energy company Centrica is set to invest an estimated $100 million in Israeli startups this year. Centrica's first investment has been to lead the $12 million financing round in Israeli electric vehicle charging point monitoring company Driivz. The company is about to close a large financing round of another Israeli startup in the field of cybersecurity for industrial infrastructure and would invest in a third startup later this year.
4. The 2018 Youth Connekt Africa Summit slated for 8th to 10th October
Registration for this year’s Youth Connekt Africa Summit has kicked off, with the conference scheduled for 8th to 10th of October. Just as the inaugural summit, the second edition is to be hosted in Kigali, Rwanda with a theme of “Connekting Youth for Continental Transformation”.
5. Alibaba’s Jack Ma to address startups in South Africa
Jack Ma, the founder and executive chairman of Alibaba, will be in South Africa for the first time this week to address South African startups and entrepreneurs. Ma will also be launching the Netpreneur Prize initiative to create a community of a 100 young Afrikan entrepreneurs and startups by 2030.
The last time Ma was in Africa, just over a year ago, he announced four groundbreaking projects to support young African entrepreneurs. He talked of funding and investing in the continent's youth, and that he would be doing so through a $10 million African Young Entrepreneurs Fund.