Healthtech startup CribMD acquires Charisland Pharmaceuticals

NIGERIA – CribMD, a healthtech startup, has announced its acquisition of Charisland Pharmaceuticals Group to ensure fast and efficient one-hour drug deliveries to its patients across Nigeria. The acquisition comes on the heels of CribMD’s US$2.6 million seed round in May 2021, which the startup says was oversubscribed. According to CribMD’s CEO, Ifeanyi Ossai, users would not need to wait two days for the delivery of their medications. Now, it can be sent to their homes, offices, or hotels in as little as one hour. Charisland Pharmaceuticals Group was founded…

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E-commerce startup LNKO raises US$335,000 investment to accelerate its growth

MOROCCO – LNKO, an ecommerce business focusing on stylish eyewear, has received a 3 million Dirham (US$335,000) investment from CDG Invest, the investment branch of the CDG group. This seed capital will help LNKO to advance from the seed phase to the acceleration phase, allowing the startup to accelerate its growth in the MENA region, beginning with the United Arab Emirates, a market that is ten times larger than the Moroccan market. This phase will also contribute to the creation of clean technology tools, as well as an ambitious recruitment…

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Alterra Capital Partners, Emerging Capital Partners launch new African investment vehicle

AFRICA – Alterra Capital Partners, an Africa-focused private equity firm, has launched a new African investment vehicle in partnership with Bryce Fort and Paul Maasdorp, Partners at Emerging Capital Partners (ECP). The Alterra leadership team will include Bryce Fort, Eric Kump, Paul Maasdorp, Genevieve Sangudi and Bruce Steen. Bryce Fort and Paul Maasdorp will continue to add value to current investments at ECP. “This combination will allow us to redouble our efforts to execute attractive mid-market investments across the continent. It pools our significant track records, expertise and networks to…

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Logistic platform Saloodo! Launches road freight service between Middle East and Africa

AFRICA – Saloodo!, a digital road freight platform, has announced the launch of BeduConnect, a road freight service between Middle East and Africa. BeduConnect was set up to connect countries of the Arabian Peninsula (Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain and Oman) with North African (Egypt, Libya and Sudan) trading partners due to capacities in both air freight and ocean freight being currently tight. Saloodo! Saloodo! is the first digital marketplace to offer road freight connection between the Arabian Peninsula and North Africa, which is faster than…

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US-based Bevy acquires event management software startup Eventtus

EGYPT – Egyptian event management software startup Eventtus has been acquired by Bevy an US-based enterprise software startup for virtual conferences and community events. According to MENAbytes, the financial details of the transaction were not disclosed but Eventtus said that it was a ‘good deal’ for everyone involved – including the investors of Eventtus. Mai Medhat and Nihal Fares who had founded Eventtus in 2012 are joining Bevy’s leadership team as Vice President of Innovation and Director of Product respectively as a result of the acquisition. The rest of the…

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E-commerce startup Taager raises US$6.4m funding round to scale its platform

EGYPT – Taager, a social e-commerce startup, has raised a US$6.4 million seed funding round to help it scale its platform and expand across the Middle East. The new capital raised will be deployed to expand Taager’s rapidly growing operations and presence across Egypt and worldwide. Launched in December 2019, Taager is a social e–commerce marketplace that provides online sellers and traders with a complete suite of backend and integrated services, from operational and logistical infrastructure such as storage and shipping to an online marketplace to host their products, connecting…

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GTBank Limited appoints Miriam Olusanya as the new managing director

NIGERIA – The Board of Directors of Guaranty Trust Holding Company Plc (GTCO) has appointed Miriam Olusanya as the new managing director of GTBank Limited, its subsidiary. Miriam Olusanya has over 23 years’ banking experience that cuts across Transaction Services, Asset and Liability Management, Financial Markets, Investment Banking and Investor Relations. She holds a Bachelor of Pharmacy (B. Pharm) degree from the University of Ibadan, Nigeria and a Master of Business Administration (Finance and Accounting) from the University of Liverpool, United Kingdom. The has also attended several executive management and…

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