Real estate company Sotheby International Realty launches in Morocco

MOROCCO – Sotheby’s International Realty, a luxury real estate brand, has announced the opening of Morocco Sotheby’s International Realty, signifying the brand’s first office in Northern Africa. The addition brings the brand’s total number of affiliated offices in the EMEIA region to nearly 200. Morocco Sotheby’s International Realty is owned and operated by David Chicard who brings 15 years of experience to the company. “Morocco offers a stable and inviting environment for global investors,” said Philip White, president and CEO, Sotheby’s International Realty. “The country attracts interest from Americans, Middle…

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Renewable energy startup Sun Exchange secures US$2.5m convertible note financing

SOUTH AFRICA – Sun Exchange, a crowd-based global solar leasing platform, today announced it has secured US$2.5 million in convertible note financing from ARPF, a Mauritian private equity fund advised by London-based ARCH Emerging Markets Partners Limited (ARCH). This follows the company’s close of a US$4 million Series A funding round in 2020, led by a US$3 million investment from ARCH. The latest investment enables Sun Exchange to continue scaling its success using its crowd-based solar leasing platform to facilitate solar power for small-to-medium organizations in Sub-Saharan Africa, the segment…

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AfDB secures US$115m from German government for its SEFA projects

AFRICA – The German government will contribute €100 million (US$115.83m) to the African Development Bank’s Sustainable Energy Fund for Africa (SEFA), affirming its commitment to efforts to tap Africa’s renewable energy potential and drive its transition to clean energy sources. The funding will go to unlock private sector investment in green-baseload projects, a SEFA priority focus. Specifically, it will support technical assistance and investment in power generation, transmission and distribution to increase penetration of renewable power in African grids. The funding follows Germany’s initial contribution to SEFA of €50 million…

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Ed-tech startup Edves raises US$575,000 funding round to help improve its product

NIGERIA – Edves, an ed-tech startup, has raised a US$575,000 seed funding round to help it improve its product and bring more schools online. The round was led by Beta.Ventures and also featured Launch Africa Ventures, Chinook Capital and Future Africa. Edves will use the investment to fuel product improvement and release new offerings to address fresh consumer needs in the Nigerian market and major segments in other African markets. Formed in 2016, Edves is an academic portal that automates operations in schools and colleges from admission to transcript generation.…

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Solar provider Bboxx partners with Government of Togo to sell smartphones on Pay-As-You-Go basis

TOGO – Bboxx, a Pay as you go solar provider, and the Government of Togo, represented by the Ministry of Digital Economy and Digital Transformation, have announced the first ever Memorandum of Understanding) to sell smartphones in Togo on “Pay-As-You-Go” basis. The MoU will improve digital inclusion and the delivery of digital public services through deployment of smartphones in Togo. The programme will follow three phases with the rollout of handsets expected in 2022, as part of the “Togo Smartphone” initiative. Phase 1 will focus on delivering sophisticated market research,…

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Consulting firm Biware raises US$1.2m in its first round of funding

TUNISIA – Biware, a Tunisian consulting, software integration, and publishing firm specializing in data management and analysis, has raised its first round of funding with CDC Gestion and Zitouna Capital, totalling 3.5 million dinars (US$1.2m). This fundraising represents a significant step forward for the company, which has been operating on the African and European markets for 11 years, allowing it to carry out its strategic development plan (2021–2006), which is supported and financed by the EBRD in collaboration with the firm PROQUAL. By 2025, Biware hopes to have a hundred…

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TotalEnergies Kenya picks new board chairman

KENYA – TotalEnergies Marketing Kenya Plc,  formerly Total Kenya, has appointed Mr. Olivier Van Parys to serve as the director and chairman of the board with effect from September 21, 2021. Mr. Van Prays, an insider in the French oil major, replaces Frenchman Jean-Philippe Torres who has resigned from the position he held from September 2018. The new board chair serves as the Executive Vice President of the East and Central Africa division at TotalEnergies in Paris, France. “Mr. Van Parys has worked for the TotalEnergies Company for the last 26…

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Ukheshe Technologies partners with tech unicorn Chipper to accelerate rollout of digital payments

SOUTH AFRICA – Leading fintech enablement partner, Ukheshe Technologies has announced a new partnership with Chipper, one of Africa’s most valuable startups, to enhance and accelerate the rollout out of Chipper’s digital payment offerings. These include free and unlimited P2P payments across South Africa, value-added services such as airtime and data and the ability to legally buy, sell or transfer cryptocurrency and the partnership will also allow for more efficient transactions across Africa while fulfilling the lives of its customers on the back of the Ukheshe Eclipse API framework. The…

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Nigeria startup Andela raises US$200m, acquires unicorn status

NIGERIA – Andela, a startup that connects African software engineering talent to global companies, has become the country’s newest startup to attain the unicorn status after raising US$200 million from investors. The firm, which is based in New York, is now worth US$1.5 billion. In the startup world, a unicorn is a company, mostly in the software or technology sector, valued at more than a billion dollars. Flutterwave and Opay, two other Nigerian fintech companies, reached that status earlier in 2021, coming behind Interswitch. Andela’s latest round of fundraising was…

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IFC partners Sodigaz to boost access to cleaner energy solutions

BURKINA FASO – The International Finance Corporation (IFC) and Sodigaz, an energy company, have announced an agreement to boost access to cleaner energy solutions for thousands of households and businesses in Burkina Faso.  Under the agreement, IFC’s Advisory Services team will support Sodigaz to upgrade and expand its liquified petroleum gas (LPG) distribution and service stations, increase solar home kit sales, and introduce solar mini grid solutions. The company is the country’s leading distributor of LPG and in 2019 also launched solar power solutions. The goal is for LPG to…

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