Inspiring Leadership & Sustainable Business Transformation in Africa
ZIMBABWE – The Infrastructure Development Bank of Zimbabwe (IDBZ) has joined forces with Norsad Capital, a provider of private credit to scalable businesses focused on growth to provide much-needed capital to businesses, which can be used to promote economic growth and improve livelihoods. “Our agreement means that we will introduce each other to potential transactions and seek to collaborate and share…
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Glamera secures US$1.3m seed fund to expand geographically EGYPT – Egypt’s SaaS startup, Glamera, has secured US$1.3 million in a seed fund round led by Riyadh Angels Investors (RAI), with participation from Techstars Accelerator, Ithraa Venture Capital, 100 Ventures, Silicon Valley Venture “Lucrative Ventures”, and Super Angel Investors. The All-In-One platform provides B2B services to beauty and lifestyle services providers…
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Egypt-based IoT devices manufacturer CardoO raises US$660K seed round EGYPT – CardoO, an Egyptian based startup, has managed to attract its seed investment round, which amounted to US$660,000 dollars, led by The Alexandria Angels, with the participation from Sofico Investments, angel investors from Saudi Arabia, and the European Bank for Reconstruction and Development (EBRD). CardoO CEO noted that this investment…
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Visa to support financial education in South Africa with US$200k SOUTH AFRICA – Visa, the global financial services giant, has announced that it recently signed a partnership with the Financial Services Consumer Education Foundation (FSCEF) worth US$200,000 to support financial education in South Africa. The partnership is specifically focused on two financial education programmes namely The Financial Literacy Speech Competition…
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Fintech platform Anchor secures US$1m pre-seed investment Nigerian fintech firm offering banking as a service Anchor, has secured US$1 million in pre-seed investment. Byld Ventures, Y Combinator, Luno Expeditions, Niche Capital, Mountain Peak Capital, and angel investors like SeamlessHR CEO Emmanuel Okeleji support the BaaS fintech. The Y Combinator-backed business intends to utilise this funding to hire top people, upgrade…
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KENYA – Generation Investment Management and three other funds have bought an estimated 40 percent stake in asset finance fintech M-Kopa for an undisclosed value through a debt swap deal. Generation Investment Management, which was co-founded by former US Vice-President Al Gore, British government investing arm CDC and LGT Lightrock—a private equity fund backed the Liechtenstein royal family — will…
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Cameroonian digital business card provider Taaply raises US$500k The Cameroon-based Taaply, which began life digitising business cards, has raised US$500,000 in funding as it announces the release of a new app and website update. Launched in 2021, Taaply is a digital business card solution aimed at cutting down on carbon emissions in Africa. The recent funding, app and website updates and improvements…
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UGANDA – British Arab Commercial Bank (BACB), an international wholesale bank, has signed a collaboration agreement with leading Uganda-based commercial lender Tropical Bank Limited to mutually support a range of projects and trade opportunities. London-based BACB has agreed to provide additional capacity and transaction support allowing Tropical Bank to increase the growth trajectory of its business activity. “I am delighted…
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EGYPT – Thndr, the Egyptian digital investment platform, has announced a new US$20 million series A investment round for development and expansion across the MENA region. The latest funding was co-led by Tiger Global, BECO Capital, and Prosus Ventures, in addition to participation from Base Capital, firstminute and existing investors Endure Capital, 4DX Ventures, Raba Partnerships and JIMCO. Thndr has…
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EGYPT – Egyptian startup SOKNA, which offers end-to-end funeral services to honor the deceased, has concluded a US$1 million pre-seed round to scale across the country. SOKNA, launched in 2020 provides a full array of funerary services, including support in obtaining burial permits and paperwork, cemetery set-up, and transportation. The platform also offers hall and condolences service booking, obituaries, ongoing…
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