ATI closes US$238m financing agreement for health and transportation projects in Ghana

GHANA – The African Trade Insurance (ATI), a pan-African financial institution providing credit and political risk Insurance Products to support African investments, has announced the closing of two €203 million (US$238.8m) financing agreements social loans, to fund four health and two transportation projects in Ghana. The first transaction, a €55 million (US$64.7m) financing package, relates to the construction of two new Trauma hospitals in Obuasi and Anyinam districts, a new Accident and Emergency center at Enyiresi Hospital and the rehabilitation of Obuasi’s current outdated Health Center. Once completed, the four…

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Ride hailing startup Plentywaka patners Autochek Africa for efficient services to its customers

NIGERIA – Plentywaka, an on-demand ride hailing startup, has announced a partnership with Autochek Africa to facilitate vehicle inspection, financing and maintenance for its teeming number of vehicle partners.  This partnership comes in the wake of plans to expand the Plentywaka Dailywaka ride-sharing service to over 7 new routes in a few days. “Just like Plentywaka, Autocheck Africa was born out of a need to disrupt an underutilized and unstructured industry,” Speaking on the partnership Onyeka Akumah, Co-Founder and CEO of Plentywaka said. “Now, a partner or heroes on Plentywaka…

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Online travelling company Wakanow appoints Adenike Macaulay as its CCO

NIGERIA – Wakanow, an online travel company, has announced the appointment of Mrs. Adenike Macaulay as the company’s Chief Commercial Officer (CCO). According to a statement issued by the company on Monday, the Chief Executive Officer, Wakanow, Mr Bayo Adedeji, expressed confidence in the capacity of the new CCO. They said Macaulay would bring on board an invaluable and dynamic contribution to the company by expanding the already thriving commercial opportunities in the business, thereby enhancing the objectives and continuous growth of the company. Speaking on her appointment, Macaulay said…

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Transport startup eMushrif acquires Cairo-based EdTech startup Tareeqi

EGYPT – Tareeqi, a startup with an application used to track the bus fleets of schools, universities and institutions in the MENA region, has been acquired by eMushrif, an Oman-based startup specialising in digital transport tracking systems. Founded by Alfarouk Saleh and Mohamed Monier in 2018, Tareeqi aims to solve the problems that face millions of people daily and will now be managing the expansion of eMushrif in the Egyptian market. Saleh said he was excited about the deal since eMushrif tries to solve the same problems as Tareeqi. “Both…

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Mobility startup WhereIsMyTransport secures US$14.5m Series A extension round led by Naspers

SOUTH AFRICA – Mobility startup WhereIsMyTransport has raised a US$14.5 million Series A extension round as it bids to continue its expansion across emerging markets. Formed in 2016, WhereIsMyTransport is a big data platform for sustainable mobility in emerging markets, which connects and collects data and integrates this information on its open data platform. Its products are used by cities to coordinate and monitor services, operators to integrate their systems, and passengers, who access the platform through apps and endpoints connected to the WhereIsMyTransport platform. The company, which is active in South…

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Startup Mazi Mobility gets backing from venture builder Satgana, launches electric motorcycles

KENYA – Mazi Mobility, a Kenyan startup, has launched its electric motorcycle fleet with backing from global venture builder, Satgana. Mazi Mobility is using motorcycles, locally known as “bodas” in Kenya to accelerate the transition to efficient, affordable and clean transport in Nairobi. Its flagship motorcycle, the Magnus 3000 (M3K), is a better alternative to petrol-driven bodas, while the startup is also introducing battery swapping stations that provide on-demand energy, reducing transportation costs by 50 percent.  The MK3 offers a choice between a single and dual battery, capable of up to…

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Uber set to launch Uber Connect and Uber Hourly for Nigerian market

NIGERIA – Ride-hailing giant Uber has announced that it will be launching two services; Uber Connect and Uber Hourly for the Nigerian market. According to the company, Uber Connect and Uber Hourly will be available in Nigeria in the “next few months”. “We want to bring innovations designed to help people get anywhere and get anything as cities start to move again,” Tope Akinwumi, Uber’s country manager, said in an emailed statement. “As we want to show our commitment to improving the lives of Nigerians, and more importantly, unlocking access…

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Bus hailing startup SWVL expands its operations to Saudi Arabia

EGYPT – SWVL, an Egyptian bus-hailing startup, has launched its operations in Riyadh, Saudi Arabia, its fourth market since it was founded in 2017. The startup is already present in Kenya, Pakistan as well as Egypt. In Riyadh, Saudi Arabia’s capital and main financial hub with a population of close to 8 million, Swvl will join forces with other competitors including Uber, Careem, My Taxi, Jahz and Taxi Watani, among others. In 2018, the Saudi Arabia’s Public Transport Authority (PTA) said there were 20 ride-hailing applications already licensed to run…

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ONCF railway company secures US$362m from AfDB

MOROCCO – The African Development Bank (AfDB) has provided €300 million (US$362.43m) for the Moroccan railway company ONCF, to contribute to the financing of the Moroccan rail network. The focus is on projects that increase the transport capacity of people and goods on the economically important axis Tangier – Casablanca – Marrakech, according to a press release by the AfDB. With this funding, combined with technical assistance, the AfDB supports the modernization of the rail sector in Morocco and contributes to improving the mobility of the population and the logistical…

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E-mobility start-up Ecobodaa secures funding round from Persistent Energy Capital

KENYA – Ecobodaa, an e-mobility start-up working to roll out electric motorbike taxis, has raised a round of funding from Persistent Energy Capital to help its growth ambitions. Founded in 2020 by Kim Chepkoit and Steve Juma, Ecobodaa aims to provide more affordable, safer, connected and environmentally-friendly means of transportation for commuters in African cities, and works on a rent-to-own model so that its riders can eventually own the electric powered motorcycles.  The start-up, which was last year selected for the Nairobi-based Africa Transformative Mobility Accelerator, has now raised a round of funding from Persistent…

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