Egypt’s agri-tech startup Baramoda wins C3 Social Impact Accelerator Program

EGYPT – Egypt’s Baramoda, UAE’s The Zola Collective and EduPloyment have won the top three positions in the third edition of the C3 Social Impact Accelerator Program powered by HSBC. Baramoda is the first agri-tech start-up in the Middle East and Africa specialized in sustainable agricultural innovations, develops biofertilzers, from agri-waste. This year the program attracted more than one thousand applications with 42 entrepreneurs from eight countries across the MENAT (Middle East, North Africa and Turkey) region, covering 17 UN Sustainable Development Goals (SDGs). The three winners, selected from a…

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Ecoband partners Workonline Communications to boost Ghana’s internet ecosystem

GHANA – Ecoband Networks, a telecoms company, has partnered with Workonline Communications, an innovative pan-African Network Service Provider to boost Ghana’s internet ecosystem. Workonline, a wholesale provider of Internet connectivity services, announced its presence in Ghana in 2020, just as the number of Internet users in Ghana breached 15 million in the country.   Ecoband was chosen by Workonline as a provider of dark fibre infrastructure services to assist with Workonline’s connection from its point of presence at PAIX to the cable landing station. PAIX operates Ghana’s leading carrier-neutral data centre,…

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Tix Africa startup raises pre-seed funding round to expand its operations to Ghana and East Africa

NIGERIA – Tix Africa, a self-service ticketing platform for event creators, has secured a six-figure pre-seed funding round to scale its event products and also expand operations to Ghana and East Africa. The pre-seed funding round was led by HoaQ, with participation from a number of private equity investors. The funding will enable Tix Africa to build its technology to scale its events apps, primarily by launching Tix Pro – a paid version of Tix offered on a recurring subscription basis. The startup also plans to expand operations to Ghana,…

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Standard Chartered appoints Lina Osman as Regional Head of Sustainable Finance for MEA

MEA – Standard Chartered, a financial institution, has appointed Lina Osman as Regional Head of Sustainable Finance for Africa and the Middle East, as part of the Bank’s ongoing efforts to provide sustainable financing solutions across its regional footprint. Lina will work closely with Standard Chartered’s senior management and broader sustainable finance team, as well as the Bank’s coverage, industry, and product partners, to originate and structure sustainable finance transactions for clients across Africa and the Middle East. “There is an urgent need to unlock the potential of Africa and…

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MAGIC Fund raises US$30m to scale its global founders-backing-founders vision

AFRICA – MAGIC Fund, a global collective of founders, has announced it has raised a US$30 million second fund to continue backing early-stage startups. MAGIC Fund is a global collective of founders that backs other founders solving daunting challenges. Since debuting in 2017, it has invested in 70 companies, including Nigerian fintech startup Mono. For Fund II, one-third of the entire fund was contributed by MAGIC Fund’s founder GPs, while LPs include Y Combinator’s Michael Seibel, Tim Draper, Ace & Company, Rappi’s Andres Bilbao, Octopus Ventures’ Kirsten Connell, Paystack’s Shola…

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Rwanda selected to host continental headquarters of the AeTrade group

RWANDA – The African Electronic Trade Group (the A-eTrade Group) which also includes the African e-Commerce Development International, has announced that it has accepted the offer of the Government of Rwanda to host the continental headquarters. The announcement is one of the significant events of the Second Africa Integration Day and this follows the last announcement exactly two years ago in Niger, Niamey when the Kingdom of Eswatini and the Republic of Guinea were awarded the regional headquarters for Southern Africa and West Africa respectively bringing the total number of…

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ID validation startup Smile Identity secures US$7m series A funding to improve its services

NIGERIA – Smile Identity, which enables ID verification and KYC compliance through artificial intelligence (AI) designed for African faces and identities, has secured US$7 million in Series A funding to improve its services and expand across more markets. Smile Identity launched in 2017 with a mission to make it easy for Africans anywhere to quickly and easily prove their identity online and provide businesses with the tools and software they need to automate customer onboarding, verify identities, and prevent fraud. To standardise identity verification across the continent and provide a…

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Kenya Airways unveils innovation hub to support youth mentorship

KENYA – National carrier Kenya Airways PLC (KQ) has launched the Fahari Innovation Hub, a center for innovation that acts as a springboard for new ideas and data-driven innovations to accelerate impact-driven solutions that address some of the societal and business challenges. The Fahari Innovation Hub is part of the airline’s s strategy in contributing to the sustainable development of Africa by empowering, partnering, and co-creating innovative ideas and strategies with local start-ups and the small-medium enterprises (SMEs) ecosystem. Speaking during the launch Kenya’s Cabinet Secretary, Ministry of ICT, Innovation and…

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Fintech company Small World Financial Services expands in Nigeria

NIGERIA – Small World Financial Services, international money transfer provider, has announced that it has expanded its network payout in Nigeria. Their customers can now receive money in minutes across an even larger bank network than before, with more than 2800 pay out locations, as to well as to their bank account. This initiative follows the Central Bank of Nigeria (CBN) directive issued last December 2020 to enable global money transfers to be paid in US dollars in an effort to streamline and increase the flow of formal diaspora remittances…

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E-commerce startup ShipBlu raises pre-seed funding round led by Nama Ventures

EGYPT – ShipBlu, an Egypt e-commerce shipping and fulfillment startup, has announced that it has raised an undisclosed amount in a pre-Seed funding round led by Nama Ventures, with participation from Y Combinator and other prominent angel investors from San Francisco, CA and Saudi Arabia. The platform that is redefining the e-commerce shipping and fulfilment experience in Egypt, also announced that it has been accepted into Y Combinator’s Summer 2021 Batch. ShipBlu was founded in October 2020 by Ali Nasser, Abdelrahman Hosny and Ahmed El Kawass. Ali, the CEO, comes…

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