Unaitas secures US$9.3m funding from Dutch PE firm Oikocredit for SME lending

KENYA – A leading progressive Sacco in Kenya Unaitas Sacco, has secured KShs1 billion (US$9.3 million) funding from Dutch private equity Oikocredit International for onward lending to small and medium enterprises. (SMEs) The Sacco said the funds will be repaid over six years allowing them to offer loans to over 5,000 farmers’ groups and cooperatives, individual farmers, farm input dealers and transporters. The funds are part of the Sacco and Dutch PE firm’s efforts to help firms recover from an economic fallout caused by the Covid-19 pandemic that has led…

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Google unveils US$6m funding program to support African start-ups

AFRICA – Tech giant Google has unveiled three programmes worth US$6 million which are expected to support women and young entrepreneurs and innovators in at least 13 African countries. Under the first programme, Google will grant US$3 million to the Tony Elumelu Foundation to support women-owned start-ups in the continent to upscale their ideas. The tech giant says the fund will help in providing entrepreneurship training, mentorship and coaching to at least 5,000 women as well as seed capital in the form of one-time cash grants to 500 African women…

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South African edtech HyperionDev raises US$3.54m for expansion into new markets

SOUTH AFRICA – Education technology specialist HyperionDev has secured more than US$3.54 million in funding, some through private investments and some through public crowdfunding. The fundraising round, which took place in March 2021, will help the company, which runs coding bootcamps, to expand into new markets, including the UK and the US. The edtech will also provide US$247,836 in scholarships for students in need. “This combined funding strategy attracted over 1,500 investors from more than 20 countries, culminating in one of the largest-ever edtech series-A fundraises in Africa,” the company…

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Smart irrigation company SupPlant raises US$10m to grow its South African market

SOUTH AFRICA – Precision agriculture company SupPlant has raised US$10 million to widen the reach of its smart irrigation technology in the South African market. The company partnered with private equity firm Boresight Capital, social impact fund Menomadin Foundation, Israel-listed Smart-Agro Fund and Israel-based investment company Mivtah Shamir on the company’s latest fundraising round, bringing its total funding to US$19 million. SupPlant considers the South African market one of great potential, since farmers are dealing increasingly with unpredictable weather patterns, as a result of climate change. The SupPlant technology saves…

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South African mobile gaming start-up Carry1st raises US$6m Series A to scale across the continent

SOUTH AFRICA – Start-up Carry1st, a mobile games publishing platform that enables global gaming studios to unlock the untapped African market, has raised US$6 million in Series A funding to help it scale further.  Launched in 2019 and based in Cape Town, Carry1st is a mobile games publisher serving the first generation of African smartphone users that has so far reached over 1.5 million users across the region.  The company provides a full stack publishing solution, handling distribution, localisation, user acquisition, marketing, customer experience, and monetisation for its partners. Carry1st’s Pay1st platform…

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Kenyan start-ups lead their peers in Africa with record funding – Disrupt Africa

KENYA – The entrepreneurial spirit amongst the Kenyan start-ups has manifested itself  going by the large funding rounds from international investors and institutions they have attracted. Between 2015 and 2020, for example, investments in the country increased to US$241 millionSh26 billion from US$193 million, representing a 27.3 percent of the continent’s total investment. Nigeria came second with US$151 million followed by South Africa US$144 million, Egypt US$143 million, Ghana US$20.4 million and Morocco at US$10.2 million. “This is the largest amount of funding ever achieved by a single country. The…

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Game publishing startup Galactech secures US$36k funding from Go-Ventures

TUNISIA – Galactech, a game publishing startup located within the Megrine Business Center, has won the first edition of a challenge organised by Tunisie Telecom (Tunisia’s state-owned telecom company) in partnership with Go-Ventures,  the Tech-startup fund of Go Malta, a subsidiary of Tunisia Telecom. The startup aggregates various entertainment services like video games, Video-on-Demand (VOD) and Media-on-Demand (MOD) through different telecom operators in the Middle East and Africa, in partnership with other startups and content creators in the region.The challenge was intended to support Tunisian startups in their quest for…

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