Sidian Bank signs US$9m deal with Oikocredit for SME lending in Kenya

KENYA – Sidian Bank, a mid-tier bank focusing on Small and Medium Enterprises (SMEs) in Kenya has signed US$9 million deal with the Netherlands-based social impact investor, Oikocredit. The bank secured a funding deal that will enable the bank to support onward lending to the SME sector in Kenya. The funding will be utilized to support the bank’s growth plans to further its strategy of providing affordable credit to its SME clients and privately-owned business enterprises as it works towards empowering entrepreneurs to realize their potential through providing tailor-made financial…

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Logistics startup Saloodo! rolls out new “Closed Shop” feature

AFRICA – The logistics start-up Saloodo! has integrated a new feature into its freight platform that makes it even easier for shippers to find perfectly matching carriers for their transport needs. With the “Closed Shop” feature, companies can now offer their transport orders to pre-selected transport service providers on-demand – worldwide. “At Saloodo! we are continuously working on improvements and new services to provide our customers with an even greater user experience on our road freight platform,” explains Tobias Maier, CEO Saloodo! The Middle East and Africa. “The new ‘Closed…

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Africa Data Centres unveils its latest world-class data center at their Midrand Campus in Johannesburg

SOUTH AFRICA – Africa Data Centres, the only pan-African network of interconnected, carrier-and cloud-neutral data centres on the continent, has completed its new Johannesburg data centre, based in its Midrand Campus which is one of the largest in Africa.  This state-of-the-art facility, designed with the latest global standards is the ideal location for technology companies and enterprises to secure IT infrastructure in an interconnected environment. This ultra-modern facility continues to strengthen the leading position that Africa Data Centres has in the South African market. The new hyperscale data centre is…

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Agribusiness firm InspiraFarms opens regional office in Harare

ZIMBABWE – InspiraFarms is expanding its presence across Africa with the establishment of a regional office representation for Southern Africa, based in Harare, Zimbabwe. InspiraFarms’ team designs first-mile, on-farm pre-cooling cold chain and food handling solutions, which are made up of the best European technologies. Zimbabwe has become a key market for InspiraFarms, with the Zimbabwean horticultural sector growing rapidly in response to the increasing demand for fresh fruit and vegetables in the European Union (EU), UK, Middle East, Far East and regional markets. The expansion in demand is also…

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Fawry provides funding and acquires minority stake of commerce startup Brimore

EGYPT – Brimore, a social commerce startup, has raised funding from e-payments solutions and banking services provider Fawry, the North African country’s first startup “unicorn”, as part of its upcoming Series A round. Brimore raised a US$3.5 million pre-Series A round last year and has now announced that it has finalised an investment from Fawry, which has acquired a minority stake. Coming as part of Brimore’s upcoming Series A funding round, the investment will also see Fawry leverage its role as a strategic investor to engage, support, and encourage growth…

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Telkom SA plans separate listing of subsidiary on the JSE

SOUTH AFRICA – Telephony group Telkom is seeking a separate listing of its Swiftnet masts and towers business on the Johannesburg Stock Exchange (JSE) as it seeks to unlock value for shareholders. The telecommunications group, which is about 40% owned by the government, confirmed in a statement to shareholders that will seek a separate listing for Swiftnet, the masts, and towers business held by subsidiary Gyro. Notifying shareholders, Telkom says unlocking value from the group’s portfolio of businesses is a key component of its financial framework, and it will afford management flexibility…

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Fintech startup Infibranches Technologies secures US$2m funding to provide energy solutions

NIGERIA – Infibranches Technologies Limited, a fintech startup, has secured US$2 million funding from All On, an investment company backed by oil and gas giant, Shell to provide energy solutions to communities across Nigeria. Founded in 2019 by Olusola Owoyemi, Infibranches is a startup that aims to provide digital financial services for service providers in the energy sector. It made the final cut for Nigeria’s First Resilience Digital Startup Accelerator Program by Forbes and Global Startup Ecosystem. Through its flagship products – OmniBranches and Green Energy Plug – Infibranches helps…

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Cairo-based startup Shiphaly raises funding round to expand its online marketplace

EGYPT – Shiphaly, a Cairo-based startup connecting shoppers and travellers, has raised an undisclosed six-figure round from angel investors in Saudi Arabia and Egypt. The round is led by Faisal Abdulsalam the founder of Purity, and active investor in Saudi Arabia and Egypt, with the participation of well-known angel investors in Saudi Arabia. The new investment will be used to expand the online marketplace’s storefronts to Africa and other Middle Eastern nations, as well as to introduce new product features. “We are very proud of the traction that Shiphaly has…

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Automotive marketplace Contactcars.com acquires Sa3ar Technology Solutions

EGYPT – Contactcars.com, an automotive marketplace, has announced the acquisition of Sa3ar Technology Solutions, a platform that provides car valuation technology and a dealer-specific auction platform. Contactcars.com, a subsidiary of Contact Financial Holding, continues to evolve and look for new opportunities to provide the automotive ecosystem with innovative value-added services. With the acquisition of Sa3ar Technology, founded by Adham Hosny and Hussein Hosny, contactcars.com aims to further enhance the user experience by providing one holistic pricing tool that will cater to both the end-user and dealers allowing the market to…

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B2B startup Cartona closes US$4.5m Pre-Series A funding round to invest in new technology

EGYPT – Cartona, a business to business (B2B) startup connecting retailers to manufacturers and wholesalers, has closed a US$4.5 million Pre-Series A funding round to help it invest in new technology, launch new products and expand across the country. The funding round was led by Global Ventures, a Dubai-based, international venture capital firm, with participation from Kepple Africa Ventures, T5 Ventures and a group of angel investors. Proceeds will be used to invest in deepening the capabilities of the technology to further enhance the user experience and introduce embedded finance…

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