Gulf Capital and AfricInvest have teamed up and invested $51 million into iSON Xperiences, formerly iSON BPO. The firm is the largest customer service and outsourcing provider in Sub-Saharan Africa. That and more in today's brief.
Jumia to distribute Carrefour products in Cote d'Ivoire, Cameroon, Senegal and Kenya
The e-commerce company signed two new deals to distribute Carrefour-branded products on its online platform from the start of next year. One of the two agreements was signed between Jumia and Adialea, the joint venture between Carrefour and CFAO Retail, covering Cote d’Ivoire, Cameroon and Senegal. The second deal was reached in Kenya with Majid Al Futtaim, the historic partner of the French-based supermarket group in the Middle East and East Africa. Telecompaper.
Publiseer expands to South Africa
The Lagos headquartered startup has also expanded into neighbouring West African country Ghana, and East African country, Kenya. IT News Africa.
Taxify, Uber app billing fraud hits Tanzanian users
A number of taxi-hailing Uber and Taxify users in Dar es Salaam have lodged complaints against rogue drivers using various ways to extend the distance travelled by riders in order to charge them exaggerated fees. Business Daily.
TymeBank quickly gains traction
The Johannesburg-based bank, which is wholly-owned by billionaire Patrice Motsepe's African Rainbow Capital, launched to the South African public in the second week of November. However, the startup, which bills itself as SA's first digital-only bank, has signed up 4 600 clients in the three weeks since its soft launch. IT Web.
Branch Seeks KES 500M To Become A Fully Fledged Bank
To date, Branch has raised Ksh6 billion capital, with one of its core investors being VC firm, Andreessen Horowitz. Apart from raising Ksh3.2 billion in equity, Branch has also managed to secure over Ksh2.8 billion in debt funding from a combination of local and international investors. Kenyan Wall Street.
Cellulant and Stanbic Bank partner to lend to Kenyan artistes
To qualify, artists should be earning at least Ks 25,000 (est. $250) in monthly royalties with Cellulant. Additionally, they should have a clean Credit Reference Bureau record. Digest Africa.
Gulf Capital and AfricInvest invest US$ 51 million into iSON Xperiences
The firms provided a total debt and equity commitment of US$ 25.5 million each. Proceeds from the co-investment will be used for growth and working capital, as well as for acquiring shares from a minority investor. Africa News.