Orange Ventures invests in mobility startup Lamma

TUNISIA – Orange Ventures, the Venture Capital Fund of the Orange Group, has announced an investment in Tunisian mobility startup Lamma that specializes in last-mile mobility This comes just after Lamma has launched its new Quick Commerce (Q-Commerce) application, which aims to revolutionize customer experience in Tunisia by delivering all everyday orders in less than 45 minutes. “We look forward to the support of Orange Ventures at this stage of the development of our project,” said Yassir El Ismaili El Idrissi, CEO of Lamma. “We wish with this investment continue…

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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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Flat6Labs announces second closing of Tunisia-based Anava Seed Fund

TUNISIA – Flat6Labs, a regional seed and early-stage venture capital firm, has announced the second closing of its Tunisia-based Anava Seed Fund (ASF), increasing its impact through world-class startup programs across the North African markets from US$3 million to US$10 million. This comes after the second closing of the Egypt-based Flat6Labs Accelerator Company fund (FAC) in May 2021, which raised US$13 million to promote Egyptian early-stage entrepreneurs. The Anava Seed Fund was established in 2017 in collaboration with the Tunisian American Enterprise Fund, BIAT Bank, and Meninx Holding with the…

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Delivery platform Glovo to debut in Ghana and Tunisia following its expansion plan

WEST AFRICA – Glovo, a leading multi-category delivery platform, has recently announced the expansion of its operations in Africa, to include Ghana and Tunisia, bringing its current operations to a total of seven countries on the continent. Glovo app is already available in Morocco, Uganda, Kenya, Ghana, Côte d’Ivoire and Nigeria, bringing its services to more than 40 cities, more than 300,000 users, 8,000 restaurants and 12,000 couriers. Glovo launched operations in Accra in Ghana earlier this year, with the city of Tema following last month and it expects to…

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EBRD appoints Antoine Sallé de Chou as director of operations in Morocco

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has announced the appointment of two new managers in the Maghreb. The Frenchman Antoine Sallé de Chou will take up his post as director of operations for the bank in Morocco. He succeeds the French-Canadian Marie-Alexandra Veilleux-Laborie. Antoine will be responsible for the EBRD’s investments and operations in the country and report to Heike Harmgart, the Bank’s Managing Director for the southern and eastern Mediterranean (SEMED) region. “I am honoured to take on this new responsibility. I am committed to…

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Oil & gas company Zenith Energy set to commence drilling activities in Robbana concession

TUNISIA – Zenith Energy, an oil & gas production company, has announced that it is in the process of finalising plans to commence drilling activities in the recently acquired Robbana concession, onshore Tunisia. The Company intends to drill ROB-3, an infill vertical well, in the proximity of the producing Robbana-1 well (ROB-1), to a total depth of approximately 2,400 metres. ROB-3 will target two proven hydrocarbon-bearing reservoirs in the Cretaceous Upper Meloussi sandstone formation, from which successful production has been achieved from ROB-1 for many years. A production of approximately…

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Flat6Labs launches capacity building program for regional support structures in Tunisia

TUNISIA – North Africa focused startup accelerator Flat6Labs, has launched Ignite Tunisia, a capacity building program for regional support structures in Tunisia. Launched by Flat6Labs, funded by the European Union and implemented by Expertise France as part of the “Innov’i” project, Ignite Tunisia is a capacity building program for regional support structures in Tunisia. “Ignite Tunisia was born from a reflection of more than two years,” said Yehia Houry, Managing Director of Flat6Labs. “We were able to identify the challenges encountered by the regional support structures which can range from…

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IFC launches Start Maghreb program for startups in North Africa

TUNISIA – International Finance Corporation (IFC), the main development institution of the World Bank Group focused on the private sector in emerging countries, has launched Start Maghreb to help start-ups based in North Africa. The startup to be helped with the technical assistance program will be in Tunisia, Algeria, Libya and Morocco and will be enabled to grow and develop across North Africa. The Start Maghreb program brings together start-ups, incubators, accelerators, investors, public institutions and donors, in order to share knowledge, identify blocking points and find solutions to promote…

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MCF, TAEF, CDC launch private debt vehicle INMA Finance for MSMEs

TUNISIA – Mediterranean Corporate Finance (MCF), the Tunisian American Enterprise Fund (TAEF) and the Caisse des Dépôts et Consignations (CDC) have announced the launch of the private debt vehicle INMA Finance. INMA Finance is intended to support directly or indirectly (through microfinance or leasing etc.) the development of Tunisian micro, small and medium enterprises (MSMEs) by offering them tailor-made financial instruments adapted to their needs and constraints. “Resolutely turned towards boosting the development of MSMEs and with a view to deploying its Smart Capital in an inclusive and innovative way,”…

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E-tourism startup Wantotrip raises funds from business angels for its development

TUNISIA – Wantotrip, an E-tourism startup that aims to revolutionize travel, has announced that it is raising the funds from investors and Business angels, for its development. Created in 2019, Wantotrip is a travel platform that uses the power of influencer marketing to promote themed, small-group trips operated by partner travel agencies and supported by community leaders. Chahrazed Remadi and Makrem Hermassi, the co-founders of Wantotrip, have succeeded in successfully carrying out their young startup hit by the health crisis and which – not only comes out more solid –…

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