Property management platform Seso Global raises US$600,000 pre-seed funding round

NIGERIA – Seso Global, a property management platform, has raised a US$600,000 pre-seed funding round in its bids to build on strong initial traction to challenge Salesforce in property managing in emerging markets. Investors in the round included Kepple Africa Ventures, Rising Tide Africa, and Moabi Group, as well as angel investors Albert Essien, Ibrahim Sanga, and Jamie Broderick. Founded in 2019, Seso has created a customer relation management (CRM) portal that enables property developers, agents and governments to manage their properties, documentation and transactions on a secure blockchain database.…

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Airport services provider NAS launches operation in Guinea Bissau

GUINEA BISSAU – National Aviation Services (NAS), the airport services provider, has announced the launch of its operations at Osvaldo Vieira International Airport in Guinea Bissau. In September 2020, NAS signed a 10-year contract for comprehensive ground handling services with the Guinea Bissau Ministry of Transport and Communications. This is a first of its kind public private partnership in the country between the Government and a foreign private company. The only international airport in the country, Osvaldo Vieira is a hub for exports of fresh seafood and agriculture to Europe,…

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Teeth-straightening startup BASMA.com closes US$3m Series A funding to scale up operation

MENA – BASMA.com, a teeth-straightening D2C startup, has closed US$3 million Series A funding led by MEVP to scale up its healthtech platform in the MENA region. The funding also saw the participation of SOSF, IM capital and returning investors iSME, Cedar Mundi Ventures and IFA capital. BASMA.com is a digital healthcare platform working on redefining the orthodontics support experience with a chain of digitally-equipped clinics to offer faster and more precise treatments through its licensed partners. It uses ISO and CE certified invisible teeth aligners, 3D-printed in-house, to assist…

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Sound Energy acquires Schlumberger Silk Route Services Limited

MOROCCO – Sound Energy, a gas company, has entered into a sale and purchase agreement with Schlumberger Holdings II Limited to acquire the entire issued share capital of Schlumberger Silk Route Services Limited (SSRS). SSRS holds a 27.5% participating interest in the Anoual and Greater Tendrara exploration permits in Eastern Morocco together with a 27.5% indirect interest in the Tendrara Concession through its contractual relationship with the Group. ”We are delighted to have increased our working interest in our principal assets in Eastern Morocco on highly attractive term,” Graham Lyon,…

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Niger to develop 50 megawatts of grid-connected solar power in partnership with IFC

NIGER – The International Finance Corporation (IFC), an international financial institution, and the Government of Niger have announced a partnership under the World Bank Group’s Scaling Solar program. IFC and Niger will develop up to 50 megawatts of grid-connected solar power, equivalent to roughly 20 percent of the country’s current installed capacity. The project will help power thousands of homes, schools, businesses, and hospitals in Niger, where most lack access to electricity, and support the government’s efforts to generate 30 percent of its power through sustainable sources by 2035. “Niger…

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Benin secures US$200m funding from World Bank to improve access to electricity services

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. About 2,000 km of medium voltage lines and 4,000 km of low voltage lines will be constructed or rehabilitated and 80,000 kVA of transformers installed in 1,100 localities. At least…

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IRENA, Morocco partner to advance the national green hydrogen economy

MOROCCO – The International Renewable Energy Agency (IRENA) and the Ministry of Energy, Mines and Environment (MEME) of the Kingdom of Morocco have agreed to strengthen joint collaboration to advance knowledge in renewable energy and to accelerate the energy transition. IRENA and Morocco will work closely to advance the national green hydrogen economy as the country aims to become a major green hydrogen producer and exporter. Under the strategic agreement signed by IRENA Director-General Francesco La Camera, and Morocco’s Minister of Energy, Mines and the Environment, Mr. Aziz Rabbah, the…

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Equity Group DRC subsidiary to receive US$50m loan from IFC loan to support SMEs

DRC – Equity BCDC, a subsidiary of Equity Group Holdings based in the Democratic Republic of Congo, is set to receive a US$50 million loan from the International Finance Corporation (IFC) to finance cash-starved small and medium-sized enterprises (SMEs) in the country. Access to capital is one of the greatest challenges faced by small and medium-sized enterprises in the Democratic Republic of Congo and Equity BCDC, which has 74 branches spread across the DRC will use the IFC loan to help small businesses fund their operations and expansion in the aftermath of…

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AfDB appoints Beth Dunford as Vice President, Agriculture, Human and Social Development

AFRICA – The African Development Bank (AfDB), has announced the appointment of Dr. Beth Dunford as Vice President, Agriculture, Human and Social Development, effective 1st July 2021. Dr. Dunford, an American national, brings extensive experience to this role having held senior-level leadership positions in the US government where she managed large and complex programs, working with the private sector, civil society, and multilateral and bilateral institutions, as well as with African governments, to deliver agricultural, social and human development impact at scale. Prior to her appointment, Dr. Dunford worked as…

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World Bank approves US$142m loan to integrate solar energy into Zanzibar grid

ZANZIBAR – The World Bank Group has approved US$142 million for the modernisation of Zanzibar’s electricity network and the integration of renewable energy and allow the electrification of 400,000 people in this Indian Ocean archipelago. Of this funding, US$117 million represents a credit from the International Development Association (IDA) while remaining US$22 million is a loan from the Clean Technology Fund (CTF), which is also providing a US$3 million grant. The funds will be used to implement the Zanzibar Energy Sector Access and Transformation Project (Zesta). The project is being…

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