Monday, July 22

Investing

Africa's beauty market
  • Uncover eyes new markets in Africa with the fresh injection of capital.
  • Founded in Kenya three years ago, Uncover has since expanded into Nigeria, Uganda, and recently to Ghana, with plans underway to expand to the Democratic Republic of Congo (DRC).
  • At the moment, the African beauty market is the world’s fastest-growing segment.

Skincare startup Uncover has successfully closed a $1.4 million Seed II funding round, a fresh injection of capital that will see the company expand its footprint across Africa.

“The industry has represented only a few skin tones in testing and we are one of the first brands testing on women in Africa. Our data-driven products combined with a tech platform-focused personalization have fueled the company’s growth. What’s exciting is that we are starting in Africa but seeing global demand and opportunity for our solution,” explained Sneha Mehta, Co-Founder and CEO of Uncover.

According to Uncover, this financing …

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digital fraud attempts
  • Position trading is a long-term strategy in which a trader’s holding timeframe is pretty extensive, going to the extent of sometimes lasting for months up to a few years.
  • When compared to day trading, its swing trades have features of short-term fluctuations in the market.
  • Modern trading platforms, like Exness, provide advanced tools and resources for position traders.

Buying and selling of stocks incorporate many strategies for varying risk appetites and time frames. One of them is position trading: a long-term strategy of trading with the view of deriving gains from the major trends. In this article, we shall look at the intricacies of position trading in stock trading including its benefits, challenges and effective techniques associated with it.

What is Position Trading in Stock Trading?

Position trading is a long-term strategy in which a trader’s holding timeframe is pretty extensive, going to the extent of sometimes lasting for …

Innovate Africa
  • The fund’s mission is to support startups seeking to address societal problems such as insecurity, joblessness, and poverty eradication through tech-powered innovations.
  • Applications are now open for founders across Africa who meet six screening criteria: Character, Credibility, Capacity, Courage, Competence, and Context. Interested founders can apply via Innovate Africa Fund.
  • Since 2019, the African startup funding scene has seen a remarkable increase, with disclosed exits crossing $2.3 billion.

Innovate Africa, a newly launched angel investment fund, is set to revolutionize the startup ecosystem in Africa with an initial $2.5 million investment aimed at supporting early-stage founders.

The platform, co-founded by Kristin Wilson and Christian Idodi, is sector-agnostic and plans to finance up to 20 startups in its first year.

The fund’s mission is to support startups seeking to address societal problems such as insecurity, joblessness, and poverty eradication through tech-powered innovations. Applications are now open for founders across Africa …

startup evolution in Africa
  • “Africa is like China 20 years ago, you see where China is now, so Africa is moving there,” Nael Hailemariam, Founder/CEO Chapa tells global leaders, and investors at AIM Congress 2024.
  • Africa’s startup evolution is on, fueled by innovation and a youthful demographic dividend.
  • This comparison of Africa to China’s meteoric rise serves as a compelling narrative for investors seeking untapped markets brimming with promise.

A panel discussion titled “The New Geographical Focus of Startups: Spreading Digital Innovation to Africa and Other Places” at the ongoing AIM Congress 2024 in Abu Dhabi has shed light on the startup evolution unfolding across Africa.

Expert speakers lifted the lid on the continent’s burgeoning potential, citing untapped opportunities that are ripe for investment. Nael Hailemariam, CEO/Cofounder of online payment gateway Chapa, captured Africa’s momentum, likening it to China’s trajectory two decades ago. “Africa is like China 20 years ago, you see where …

Kenyan shilling on an upward trajectory boosting investor confidence
  • From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA).
  • The Capital Markets Soundness Report indicates a more stable shilling, which consequently positively influenced the equity markets, which improved compared to the quarter ending December 2023.
  • The four market indices, NSE20, NSE25, NASI, and NSE10, closed at 1752.43, 2975.42, 113.09, and 1155.41 points respectively, an increase from 1,501.16, 2,380.23, 92.11, and 907.51 points.

Kenyan shilling on the rise

Nairobi Securities Exchange (NSE) was among the top African performers in the first quarter of 2024, buoyed by improved investor confidence that reduced outflows.

From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA).

The Capital Markets Soundness Report for the period under review indicates a more stable shilling, which consequently positively …

Madagascar's first gold refinery birthed at AIM Congress 2024
  • Madagascar’s first gold refinery following a strategic partnership and support from the United Arab Emirates.
  • Andry Rajoelina, President of Madagascar, terms the move “a major step in the development” of the country’s mining sector.
  • At the AIM Congress 2024, Madagascar is marketing its rich potential as an emerging market and its pivotal role in regional trade dynamics.

Madagascar’s first gold refinery

Madagascar is set to join the elite club of countries with gold refinery plants in the world following strategic partnerships and support from the United Arab Emirates (UAE). In his keynote address at the opening ceremony of the 13th edition of the AIM Congress in Abu Dhabi, Andry Rajoelina, President of Madagascar, outlined his nation’s strategic vision for sustainable economic growth and development.

While highlighting the importance of strategic partnerships and investment, President Rajoelina noted Madagascar’s rich potential as an emerging market and its pivotal role in regional …

Trade Deficit
  • Legal ruling favors Kenya Ports Authority (KPA) and Kenya Revenue Authority (KRA), allowing clearance of Sh145 million consignment despite ownership objections.
  • Dispute centered on transfer of property and risk to Dooba Enterprises Ltd, with objecting companies claiming previous ownership based on contractual agreements.
  • Case highlights importance of clear contractual agreements, documentation, and effective dispute resolution mechanisms in international trade.

An array of goods valued at $1 million (KSh145 million) is set to be cleared from the Mombasa port after a legal battle between five companies and two key entities, the Kenya Ports Authority (KPA) and Kenya Revenue Authority (KRA). The consignment, held in four containers, faced opposition from the companies, including Ningbo Ningshing Trading Group Inc., Top Anchor Industries, Ningbo Jiaje Water-Meter Manufacture Co. Ltd Inc., Ningbo Texilong Pipe Industry Co. Ltd, and Quanzhou Datouyi Technology Co. Ltd.

However, Mombasa High Court judge Kizito Magare ruled in favor of KPA

Africa fertiliser financing mechanism
  • Africa Fertiliser Financing Mechanism will avail 8000 tons of fertiliser.
  • 5.533 million Kenyan farmers are registered for the government’s subsidised fertiliser programme.
  • African Development Bank granted Kenya $67 million in 2022-2023 through its African Emergency Food Production Facility.

The Africa Fertiliser Financing Mechanism has launched a project to help deliver 8,000 tons of fertilisers to 100,000 smallholder farmers in Kenya to boost harvests and incomes.

Through its Fertiliser Financing for Sustainable Agriculture Management Project, the Mechanism will provide a $2 million partial trade credit guarantee and a grant of $219,000 to Apollo Agriculture Limited, a Kenyan corporation, to facilitate the company’s fertiliser sales.

The Norwegian Agency for Development Cooperation, through a contribution of $10.15 million to the Africa Fertiliser Financing Mechanism, is also supporting the project.

Representatives of the African Development Bank, which manages the Mechanism, Apollo Agriculture and the Kenyan and Norwegian governments attended the launch event in Nairobi.…

AIM Congress 2024
  • Over 300 startups are converging in Abu Dhabi between May 7th and 9th for three days of innovation, collaboration, and transformative dialogue.
  • Key topics on the agenda include the rise of startups in biotechnology, the integration of technology into enterprises for financial resilience, and customer acquisition and retention.
  • Seven high-level roundtable meetings are slated to help startup entrepreneurs learn from experts about the latest global investment issues.

AIM Congress, now on its 13th edition, is gearing up to host over 300 startups from diverse fields of innovation and industries, marking a huge milestone for the global showcase in the United Arab Emirates (UAE).

Set to unfold from May 7th to 9th, 2024, at the Abu Dhabi National Exhibition Centre (ADNEC), the event promises a platform for innovative solutions, investment opportunities, strategic partnerships, and knowledge sharing among policymakers and entrepreneurs worldwide. ADNEC, which offers a total area of 153,678 square metres …

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