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Browsing: Venture Capital
Most Kenyans, 83 per cent, indicated a willingness to increase the amount of money they allocate to savings and investments, but the inability to save due to insufficient funds after fulfilling their obligations that require regular funding and the availability of quick digital loans.
Among their obligations which contribute to Kenyans’ financial strain is supporting their extended family which considerably bites into their savings. 84 per cent of people indicated that they regularly provide some income to their extended family, mostly in case of emergencies, because they feel a sense of obligation to send their extended families money and because their extended family members treat them better when they are sent money.
On their part, the extended family members mostly use the money to cater to recurring expenses like food & transport, school fees and medical expenses at 23 per cent, 19 per cent and 18 per cent respectively. Farm-related…
- Initial predictions about Africa’s vulnerability to Covid-19 indicated that the continent would be overwhelmed by the effects of the pandemic
- Not only has Africa harnessed previously unrecognized power to help combat COVID-19, but it also provides indications that can be used to counter future pandemics.
- Despite the significant economic disruptions caused by the Covid-19 outbreak, Africa’s economies are leading as a resilient continent with enormous promise.
- African start-ups raised US$1.8 billion in the first quarter of 2022, which is 2.5 times the capital raised in Q1 2021
Initial predictions about Africa’s vulnerability to Covid-19 indicated that the continent would be overwhelmed by the effects of the pandemic. Critics had argued that the continent’s medical and economic sectors would feel the heat both during and after the pandemic.
However, these worrying predictions concerning the continent and its vulnerability to the Covid-19 pandemic have largely gone unrealized. Globally, Africa accounted for a …
Norrsken22 plans on capitalizing on its general partners’ years of experience and investment philosophies to back startups in fintech, MedTech, Edtech, and market-enabling solutions such as B2B marketplaces and inventory management businesses.
Kolbe, whose previous firm Actis backed Egyptian fintech giant Fawry in 2019 as it prepared to go public, said Norrsken would look at Egypt ‘opportunistically.’
Deals from the country that may be of interest to the firm will be those planning an expansion into the four markets Norrsken22 is currently keen on, including Nigeria, Ghana, Kenya and South Africa.…
- Amitruck has secured $4m in a seed funding round that had the participation of investors from Africa, Asia, Europe, the Middle East, and the United States
- The company will use the new funding to expand its presence across Africa and hire new talent
- Better Tomorrow Ventures (BTV), a San Francisco-based venture capital firm that targets early-stage startups, led the funding
Amitruck receives funding
Amitruck receives funding of around $4m in a seed funding round that had the participation of investors from Africa, Asia, Europe, the Middle East, and the United States.
Better Tomorrow Ventures (BTV), a San Francisco-based venture capital firm that targets early-stage startups, led the funding.
Also in the round were supply chain and mobility venture capital Dynamo Ventures, an investor to Berlin-based Digital Freight Forwarding unicorn, Sennder GmbH.
Other investors included Rackhouse Ventures, founded by Kevin Novak, one of the early members of Uber Freight; Flexport …
These figures place Africa among the world’s fastest-growing tech countries in terms of VC growth year over year. In Silicon Valley, these figures represent a day and a week.
The potential that investors and founders are looking for is to bring substantial swathes of Africa’s unbanked population online.
According to numerous estimates, including The Global Findex Database, Africa has the highest percentage of unbanked people in the world, as well as a considerable number of underbanked SMEs and consumers.…
The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors in markets including India, Russia, and Brazil.
Through its ventures team, Prosus invests in areas including health, logistics, blockchain, and social commerce. Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to improve people’s everyday lives.
Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including 99minutos, Avito, Brainly, BUX, BYJU’S, Bykea, Codecademy, DappRadar, DeHaat, dott, ElasticRun, eMAG, Eruditus, Flink, GoodHabitz, Honor, iFood, Klar, LazyPay, letgo, Meesho, Movile, Oda, OLX, PayU, Quick Ride, Red Dot Payment, Remitly, Republic, Shipper, SimilarWeb, Skillsoft, SoloLearn, Swiggy, Udemy, Urban Company and Wolt.…
Exeo capital, an African alternative investment firm, has acquired the Pearson Institute of Higher Education. The acquisition, a joint initiative between EXEO Capital and Stellenbosch Graduate Institution, is set to widen availability and access to higher education in Africa, particularly South Africa.
Person Institute Of Higher Education operates across 12 separate campuses in South Africa covering over 7000 students.
The institute of higher learning was formed through the union of CTI Education Group and Midrand Graduate Institution in 2010. The institution offers academic and career-oriented learning programs.
The investment aims to scale the operation of Pearson Institute within South Africa as well as expand into the pan African market.
The demand for higher education remains high given the rising population and increasing middle class in Africa. The investment firm projects that the business of education in Africa is anticipated to quadruple in the next ten years. They are …
Salesforce Ventures has announced a second impact investment fund amounting to $100 million dollars. Salesforce Ventures is the investment arm of Salesforce, a company involved in customer relationship management. The fund is the second to come from the company after an initial $50 million impact fund which was launched in 2017.
The funds are earmarked for supporting start-up companies mainly in the technology sphere and cloud-related services. Within this grouping, the focus on the fund is on companies showing a measurable impact on social arenas such as education. The funds also serve start-ups with an environmental impact.
Salesforce ventures drive to promote values of sustainability and social responsibility is expected to see it investing in companies that provide solutions to the challenges affecting the world. Acknowledging the unprecedented nature of the challenges impacting the world including COVID-19, climate change, and racial injustice, Salesforce Ventures said it will continue to invest …
A South African health-tech company Udok has sealed $613 000 (ZAR 10 million) in Venture Capital funding from FinX capital.
The money raised will be used to spearhead expansion. The Capetown-based startup has partnered with Clicks Stores to provide consultations in Click’s pharmacy clinics. With Clicks being one of the largest pharmacy retailers in South Africa, this will give the firm access to a large clientele base.
The company also plans to roll out laboratory testing using the Clicks network to provide lower-cost testing services for patients. Currently, the costs of laboratory testing are above the reach of many.
Founded in 2018, Udok enables individuals to access healthcare services via a digital platform. This includes virtual consultations with doctors, receiving prescriptions, and getting access to remote admissions.
The company uses smart technology for examinations during the consultation and allows users to access their health records from anywhere. Leveraging a digital …
Winners of the 2020 edition of the Private Equity Awards Africa are set to be announced on 19 November 2020. There are 19 African focused private equity firms in the running for the house of the year position.
In the previous year’s awards, the house of the year award went to Development Partners International, a firm that manages over US$1.6 billion in pan-African private equity.
Several other subcategories will rate private equity firms in terms of deal size, the exit of the year, debt and infrastructure, and a portfolio company of the year. The competition also includes a category for the best advisors and fund administrators.
The London Business School Private Equity Institute in conjunction with the private equity awards advisory panel will make recommendations for the deserving winners.
The ultimate winners will be chosen by an autonomous panel of judges which comprises some of the …