· 2 months ago

The Daily Brief: Egypt’s Sawari Ventures to launch $55M VC fund

Sawari Ventures

In yesterday’s brief, I mentioned that Egypt is beaming with activity and the streak is not about to end as Sawari Ventures is set to launch a $55 million fund. That and more in today’s brief.

Crypto Exchange Pesamill Launches in Kenya

Pesamill Africa, a peer-to-peer and centralized exchange, has launched in Kenya. Founded by Brian Ngugi, Pesamill aims to solve some of the problems that face global crypto exchanges that currently serve the African market according to Kenyan Wall Street.

African crypto-currency to go live in December

In more crypto news, Afri Union Coin, formerly known as African Master Coin, developed by Africa Master Blockchain Company (AMBC), is set for launch to the public in December. You can find more details on IT Web.

DLT and AI Task Force Chairman Calls on Government to Tokenize Economy

In Kenya, the Distributed Ledgers and Artificial Intelligence task force chairman Bitange Ndemo has said that the government should tokenize the economy.  Ndemo reportedly asserted that the Kenyan government should consider tokenization of the economy in order to deal with “increasing” rates of corruption and uncertainties. Full story on Cointelegraph.

Despite territorial challenges, Togo’s first incubation laboratory, WoeLab, is making steady progress

Techpoint takes a look at Togo’s first incubation lab. Get the entire story here.

Egypt’s Sawari Ventures to launch $55 million VC fund

Cairo-based Sawari Ventures is set to launch a ~$55 million (1 billion EGP) VC fund by the end of this year or early next year, Mohamed Ragaai, Head of Investment with Banque du Caire, one of the LPs in the fund. Apart from Banque du Caire, other LPs in the fund, according to Mohamed Ragaai, include National Bank of Egypt (NBE), Banque Misr and the European Investment Bank.  Full details on Menabytes.

Bonus: Since today it has rained crypto, here’s a roundup of the most notable 8 ICOs by blockchain startups operating in Africa.

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