Inspiring Leadership & Sustainable Business Transformation in Africa
WEST AFRICA – M Auto, a ‘mobility as a service’ startup has raised undisclosed funding from Africa Transformation and Industrialisation Fund (ATIF), to launch in Togo and Benin. The move will see it as the largest electric vehicle startup in Africa with 500 e-bikes on the ground and 3 000 bikes ready for market. M Auto’s mission is to provide…
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BENIN – Social impact investor Oikocredit is providing long-term project financing to Weziza Benin, an off-grid distributed energy enterprise, to connect 40,000 people in rural Benin to solar electricity. With the funding, Weziza Benin will provide 21 rural communities with clean, affordable, and reliable electricity generated through renewable energy systems designed as solar photo voltaic-powered mini-grids. The project has been…
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AFRICA – Kyle Kelhofer has been appointed as the senior regional representative of 5 sub – Saharan countries by The International Finance Corporation (IFC). Kyle Kelhofer will oversee operations of IFC, the private sector arm of the World Bank, in Benin, Ghana, Liberia, Togo, and Sierra Leone. He succeeds Nigerian Ronke-Amoni Ogunsulire in this position and will be based in…
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BENIN – FedayPay, a fintech company, has raised its first round of investment from Benin Business Angel Network (BBAN). FedaPay was founded by Hermann Aguessy and Boris Koumondji, and it is a payment gateway that allows businesses of all sizes to accept money transfers via mobile money and bank cards using a single payment method. The firm, which has been…
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BENIN – The Beninese government has announced the doubling of the capacity of the Illoulofin solar power plant in the southeast of the country. Planned for a capacity of 25 MWp, the solar power plant under construction in the council of Pobè will finally have a capacity of 50 MWp. The data is changing regarding the construction of the Illoulofin…
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BENIN – The Japanese government has awarded a grant of 16 billion CFA francs (US$27.50m) to Benin, through its international cooperation agency, JICA. The funding will enable work to be carried out on the project to strengthen drinking water supply systems in the departments of Couffo and Plateau. The funds will enable Beninese authorities to finance the Project to Strengthen…
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BENIN – The U.S. Trade and Development Agency (USTDA) has announced a grant funding for technical assistance to help Beninese company Sherlock Grids SAS expand and improve clean energy access to rural communities across the country. Enoh T. Ebong, USTDA’s Acting Director said that the project embodies USTDA’s commitment to deploy innovative solutions that connect more of Africa’s citizens to…
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BENIN – The World Bank approved US$200 million in International Development Association (IDA), funding to help Benin improve access to electricity services for households, businesses, and basic public services. The Benin Electricity Access Scale-Up Project will carry out densification and extension works to increase access to grid electricity services for households, small and medium enterprises, and some basic public services.…
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BENIN – MyJouleBox, a French solar energy company, has signed a US$1.8 million funding contract with ElectriFi to provide Solar Home Systems (SHS) in the Republic of Benin and to hire 200 additional staff. The company also wants to grow in Burkina Faso and Togo, as well as expand its position in the Beninese market. EDFI ElectriFi is expected to…
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BENIN – The government of Benin has invested in eleven startups under the Oumandéra funding scheme, after several phases of selection. The funding will enable them to boost their businesses. The eleven startups are part of the first class of 2020–2021 under the Digital Entrepreneurship Support Fund (FAEN). The eleven Beninese startups received checks worth 10 million to over 29…
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