BancABC unveils co-branded cards to drive digital payments and e-commerce in Zimbabwe

ZIMBABWE – BancABC Zimbabwe has launched a  new suite of co-branded Mastercard and Zimswitch payment cards for its customers which will enable customers to make safe and seamless digital, domestic and international payments including e-commerce transactions. BancABC is the first bank to launch Mastercard and Zimswitch co-branded cards, following a partnership between the national payment switch and the global payment technology company announced last year. “We are delighted to be the first to market with this solution. It is thanks to the collaborative partnership between Mastercard, a global financial services…

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B2B startup Talabeyah raises pre-Seed round to scale its operation

EGYPT – Talabeyah, a Cairo-based startup that provides B2B e-commerce services for food and groceries, has raised a seven-figure pre-Seed round from strategic angel investors.   The startup, which was launched in July 2020 by Karim Nassef, Amr Abbas, Khaled Hussein, and Adel Hodroj, has leveraged its supply chain model and purchase experience by establishing a customer-centric business, due to its founders’ extensive experience in the FMCG industry.   Barakat said the round will help scale the startup’s operations, further build the technology, and leverage the use of AI and machine learning algorithms utilising the collected data…

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Postal Corporation of Kenya secures US$650,000 from Trade Mark East Africa to boost e-commerce

KENYA – The Postal Corporation of Kenya (PCK) has secured Kshs. 72 million (US$650,000) from Trade Mark East Africa (TMEA) as it targets to boost its presence in the e-commerce delivery market. Under the deal, PCK says it intends to increase its capacity to process 10,000 packages daily to provide an efficient logistics and distribution platform for e-commerce entrepreneurs and customers. PCK says the funding will help it enhance internal digital capacities and improve collaboration with external, both regional and global actors, in the e-commerce space. “It is a great…

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Kenyan tech startup MarketForce enters Nigerian market

NIGERIA – MarketForce, a Kenyan B2B platform for retail distribution of consumer goods and digital financial services, has entered the Nigerian market. For merchants, the B2B webshop can serve as a platform for planning procurement, ordering periodically scheduled deliveries, overseeing the execution of contracts, and such. Co-founded in 2018 by Tesh Mbaabu and Mesongo Sibuti, MarketForce is a B2B retail marketplace that empowers informal merchants in Africa to source, order and pays for inventory digitally and conveniently, access financing, collect digital payments. One can also make extra money by reselling…

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B2B e-commerce Capiter raises US$33m Series A funding round for its expansion plan

EGYPT – Capiter, a B2B e-commerce startup which brings together manufacturers, brands, wholesalers and retailers on one platform, has raised a US$33 million Series A funding round to power its rapid expansion into digital financial services and additional markets. Capiter is planning on providing more digital financial services and expanding into overseas markets after raising a US$33 million Series A funding round, led by fintech-focused venture firm Quona Capital and MSA, an independent and interdisciplinary investment company. The round also features Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab, and…

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E-commerce startup OurPass closes US$1m pre-seed round to scale across the country

NIGERIA – OurPass, an e-commerce startup, has closed a US$1 million pre-seed round led by Tekedia Capital and angel investors from Fortune 500 companies to scale across the country. OurPass is an Abuja-based solutions provider offering the fastest one-click checkout technology for digital commerce in Africa and describes itself as the “Fast for Africa”. OurPass provides innovative solutions that facilitate faster and seamless transactions in the African digital marketplace. OurPass also recently announced the official unveiling and virtual launch of the OurPass App that, according to it, is designed to…

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Auto financing firm Autochek acquires online marketplace Cheki

EAST AFRICA – Autochek, a Nigerian automotive tech company, has announced that it has reached an agreement to acquire ROAM Africa’s automotive marketplaces Cheki Kenya and Uganda.  Autochek is an automotive technology company facilitating auto financing across Africa with operations in Nigeria and Ghana. The move to acquire Cheki Kenya and Uganda comes just one year after the company successfully acquired Cheki Nigeria and Ghana as part of its launch in West Africa. The deal will be finalized within the following weeks and will see Cheki Kenya and Uganda’s operations…

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Egyptian e-commerce platform MaxAB acquires Moroccan counterpart WaystoCap

EGYPT – MaxAB, an Egyptian B2B e-commerce platform, has acquired Moroccan counterpart WaystoCap the Morocco-based B2B e-commerce and distribution platform that connects retailers with suppliers across Africa. The acquisition will see MaxAB accelerate its expansion into the Maghreb market, empowered by WaystoCap’s expertise in the region. Additionally, MaxAB has confirmed an additional US$15 million investment from existing investors, as it closes its Series A, which brings the total capital raised by the ecommerce leader to more than US$60 milion. It secured US$40 million in Series A funding in July. Founded…

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Facebook Marketplace rolls out to 37 countries across Sub-Saharan Africa

SUB-SAHARAN AFRICA – Facebook has announced the launch of Marketplace to 37 countries and territories in Sub-Saharan Africa. Currently available in South Africa, Ethiopia, Kenya and Nigeria, Marketplace is a convenient destination where people can discover, buy and sell items from others in their local communities, simply by tapping on the Marketplace icon to browse and search for items or filter by distance or category. Commenting on the launch, Facebook Director of Public Policy Africa Kojo Boakye said, “Increasing the availability of Marketplace to 37 more countries and territories in…

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E-commerce startup Chari.ma acquires mobile credit book application: Karny.ma

MOROCCO – Chari.ma, a fintech and e-commerce startup, has announced the acquisition of the mobile credit book application Karny.ma. Karny.ma. latter is a telephone credit book allowing traditional local businesses to manage their outstanding customers. Available on Google Play, the application allows them to simply record their transactions on their phone, share them with their debtors and thus more easily collect their loans. Karny.ma, founded by consultants from the Boston Consulting Group, already has 15,000 customer grocery stores across Morocco. “The users of Karny.ma are right in the target of…

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