October Dry Port Company secures US$29.6m loan from EBRD

EGYPT – The European Bank for Reconstruction and Development (EBRD) has approved a €25 million (US$29.6 million) loan in favour of Egypt’s October Dry Port Company (ODP), a joint stock company established to construct Egypt’s first inland dry port located in 6th of October City, the bank announced. The EBRD said that the loan is part of a total investment package of worth US$60 million to finance the design, development, construction, and operation, as well as maintenance of the port. The project will be Egypt’s trigger investment under the EBRD’s…

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Acumen Resilient Agriculture Fund raises US$58m to invest in African agri-businesses

AFRICA – The Acumen Resilient Agriculture Fund (ARAF), an equity fund that supports African agri-businesses that assist smallholder farmers adapt to climate change, has raised US$58 million. The fund is supported by the Dutch entrepreneurial development bank (FMO), the Soros Economic Development Fund, the French development institution PROPARCO (through FISEA+, the AFD Fund advised by PROPARCO), the Children’s Investment Fund Foundation, IKEA Foundation, Global Social Impact, and other respected investors and funders. It is sponsored by Acumen and anchored by Green Climate Fund (GCF). “Smallholder farmers feed the world, but…

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Fintech startup Julaya secures US$2m pre-Series A funding to expand its products

CÔTE D’IVOIRE – Julaya, fintech startup which provides businesses and institutions with an online platform to disburse payments to mobile money and mobile banking wallets, has received US$2 million in pre-Series A funding to grow and expand its product in West Africa. Founded in 2018 by Mathias Léopoldie and Charles Talbot, Julaya has a customer base that ranges from SMBs to large corporates and government institutions and includes brands such as the e-commerce company Jumia. The startup, which previously raised US$250,000 in 2018 and US$550,000 in 2019/2020, in June raised…

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SODIC announces successful completion of US$21.79m 1st issuance security bond

EGYPT – Sixth of October Development and Investment (SODIC) announced the success of its subsidiary SODIC Securitization in completing the first issue of securitization bonds worth LE 343 million (US$21.79m). The company explained in a statement to the Egyptian Exchange that securitization bonds worth LE 343 million (US$21.79m) are secured by a portfolio of notes worth LE 384 million (US$24.40m), representing the value of the special future instalments of 753 units that were delivered in the Eastown Residences project in East Cairo, and the Caesar project in the North Coast.…

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TotalEnergies acquires the largest electric vehicle charge points network in Singapore

WORLD – Broad energy company TotalEnergies, has agreed to buy Singapore’s largest electric vehicle charging network from fellow French firm Bollore Group. Upon the approval of the relevant authorities, TotalEnergies will manage and operate the largest electric vehicle charging network in Singapore, with more than 1,500 charge points installed in the city-state. This urban charging network represents around 85% of the charge points currently under operation in Singapore, access to electric vehicles owners as well as the car-sharing solution BlueSG. Singapore is aiming to phase out all internal combustion engine…

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Seed Co completes US$12m seed drying plant in Zimbabwe

ZIMBABWE – Seed producer, Seed Co Zimbabwe has completed setting up its new US$12 million artificial seed drying plant at Stapleford, Mt Hampden, Zimbabwe which will enhance early seed availability for sale post-harvest. The group is also looking at increasing the capacity of the artificial seed drying facility in Harare, as well as replicating it in the region. The company’s Chief Executive Morgan Nzwere said during the group’s analysts briefing that: “The artificial seed drying plant was successfully completed at Stapleford, which can do 5,000 tonnes. It will allow us…

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Contact Financial Holding partners online real estate platform Sakneen

EGYPT – Contact Financial Holding, a leading structured finance investment firm, has partnered with Sakneen, an online real estate platform, to enable clients to search for homes and finance them all through one platform. Sakneen’s search engine provides users with a wide inventory of high-quality listings with accurate prices and a seamless user experience. The platform is unique in offering new properties from over 110+ developers, as well as existing homes on the secondary market.  Also, users can access all the information they need to make the right investment decision…

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Link Commerce and Cellulant partner to avail digital payment options for easier purchases from global retailers

AFRICA – Pan-African payments company Cellulant, has partnered with Link Commerce, a turn-key B2B eCommerce platform, to avail relevant digital payment options to consumers in Africa; making it possible to purchase goods directly from global retailers online. The number of online shoppers in Africa has surged annually by 18% since 2014, according to a report by UNCTAD and as of 2019, the number of digital buyers in Africa experienced an increase to 233 million. The number of e-commerce users in the continent was projected to grow significantly in the next…

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Egypt’s contactless grocery delivery platform GoodsMart raises US$3.6m for further expansion

EGYPT – Egyptian grocery delivery platform GoodsMart, has raised US$3.6 million in a funding round led by Sawari Ventures. Founded in 2014, GoodsMart allows customers to browse thousands of premium grocery and home products from a variety of shops and suppliers, place orders, and have goods delivered to their door. On the surface, the company may look like any other grocery delivery startup but the overall user experience and operating model GoodsMart has is completely different. According to reports by Menabytes, its grocery delivery service is contactless as the users receive…

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AgDevCo expands portfolio to develop banana industry in Mozambique

MOZAMBIQUE – Social impact investor AgDevCo has announced its latest investment in Mozambique’s agribusiness sector. The UK-based social impact investor has closed a US$3 million debt investment in Quinta da Bela Vista Limitada (QBV), an irrigated banana estate located in the Boane area in Mozambique. QBV was established in 2016 as a joint venture between Silverstreet Capital’s Silverlands I Fund and Crookes Brothers Limited (JSE: CKS) and currently comprises 128ha of irrigated bananas. QBV’s strategy is to expand the operation to 260ha over the next two years. Crookes Brothers have a proven track record in…

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