Day: May 4, 2023

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Chargel raises $2.5m seed funding to revolutionize logistics in Francophone Africa

New Investments

Chargel raises $2.5m seed funding to revolutionize logistics in Francophone Africa

| Article

Senegalese logistics company Chargel has secured $2.5 million seed funding for Francophone Africa expansion.

The funding round was led by Logos Ventures, with the participation of Ventures Platform Fund, Foundation Botnar, DFS Labs, and Seedstars. Founded in 2018, Chargel is revolutionizing the trucking industry in Francophone Africa by seamlessly connecting shippers with the perfect transporters at competitive prices and managing everything from payments to fuel and insurance.

 

As part of its mission to simplify the logistics landscape, the innovative startup is creating the biggest trucking network in Senegal. This move is aimed at empowering shippers to find reliable transporters while helping transporters increase their operations’ efficiency by maximizing truck capacity

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Nomba raises $30m Pre-Series B funding round

New Investments

Nomba raises $30m Pre-Series B funding round

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Nigerian payment service provider Nomba has raised a $30 million Pre-Series B funding round to enable businesses to easily and securely receive customer payments across Africa

The funding round was led by San Francisco-based Base10 Partners, with participation from Partech, Khosla Ventures, Helios Digital Ventures and Shopify. Founded in 2016, Nomba is creating tools for businesses to manage sales, money and payments without hurdles. The startup is on a mission to build an ecosystem that simplifies how businesses accept payments, make payments and manage operations.

 

Nomba intends to invest the new funding in delivering tailored payment and operational solutions designed for specific businesses, including food companies, restaurants, logistics and transport companies, to plug gaps in their payment processes.

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Nigerian recycling startup WeCyclers secures $2 million to recycle 30,000 tonnes of plastics

New Investments

Nigerian recycling startup WeCyclers secures $2 million to recycle 30,000 tonnes of plastics

| Article

Wecyclers Corporation, a leading Nigerian recycling startup, has secured $2 million in funding to recycle 30,000 tonnes of plastics over the next five years

The new investment was provided by the French investment bank Société Générale; through Unilever West Africa Nigeria. Wecyclers will use the new funding to expand its activities in Nigeria, where it has been collecting, sorting and recycling plastic waste. Launched in 2012, the startup aims to create a sustainable future by promoting recycling and waste reduction. They use innovative technology and social entrepreneurship to incentivize people to recycle their waste, especially in underserved communities. Wecyclers’ mission is to create a circular economy where waste is viewed as a resource, not a burden.

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Yahya Bouhlel

African Changemaker

Yahya Bouhlel

Yahya Bouhlel is a young Tunisian computer scientist and tech entrepreneur with a mission to build a sustainable, scalable and affordable educational platform in the Middle East and Africa.

He is the Co-Founder and CEO of GOMYCODE, a Tunisian-based edtech startup bridging the skills gap between the existing educational infrastructure and digital skills needed in today’s global job market. Founded in 2016, GoMyCode has successfully placed 80% of its students through a job placement program and has facilitated career changes, upward mobility, and diversified income streams for thousands of graduates.

Through Yahya’s leadership, GoMyCode has become a leading coding boot camp, empowering individuals with in-demand tech skills and helping them to pursue fulfilling careers. Yahya’s vision, leadership, and commitment to making tech education accessible to all have not gone unnoticed, as he has won several awards and honors.

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The Commercial Potential of Africa’s Digital Revolution

  • EmpowerAfrica
Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
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Tunisian Team Collaboration Startup Cynoia Secures $930k in Funding for West African Expansion

Tunisian team collaboration startup Cynoia has announced a significant funding milestone, securing $930,000 to fuel its expansion into the West African Economic and Monetary Union (UEMOA), focusing on Senegal and Ivory Coast.
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Mastercard Africa Growth Fund Invests $27  Million in Africa-Focused Investment Firms Chui Ventures, VestedWorld, and SME Impact Fund

The Mastercard Africa Growth Fund has announced investments in three Africa-focused investment firms: Chui Ventures, VestedWorld, and SME Impact Fund.
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London-based Fintech Verto Partners with UBA to Enhance Cross-Border Transactions in Kenya

Verto, a leading London-based fintech and payment solution provider, has announced a strategic partnership with the United Bank of Africa (UBA) to streamline cross-border transactions for Kenyan entrepreneurs, small-scale businesses, and corporations.
READ MORE
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Rosalia Joseph

African Changemaker

Rosalia Joseph

Rosalia is Namibia’s first female Medical Entomologist and an experienced Public Health Researcher.

She currently serves as the Regional Coordinator of PAMCA – Women in Vector Control Control (WIVC), Central and Southern Africa. Women in Vector Control is an initiative that strengthens the role of African women from all spheres of society in combating vector-borne diseases, which are endemic to sub-Saharan African countries. At WIVC, Rosalia is leading efforts to implement effective vector control strategies to reduce the incidence of malaria in the region. She is also the ALMA country lead in Namibia for Malaria Youth Army champions and a member of the Roll Back Malaria Youth Workstream.

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The Commercial Potential of Africa’s Digital Revolution

  • EmpowerAfrica
Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
READ MORE

Tunisian Team Collaboration Startup Cynoia Secures $930k in Funding for West African Expansion

Tunisian team collaboration startup Cynoia has announced a significant funding milestone, securing $930,000 to fuel its expansion into the West African Economic and Monetary Union (UEMOA), focusing on Senegal and Ivory Coast.
READ MORE

Mastercard Africa Growth Fund Invests $27  Million in Africa-Focused Investment Firms Chui Ventures, VestedWorld, and SME Impact Fund

The Mastercard Africa Growth Fund has announced investments in three Africa-focused investment firms: Chui Ventures, VestedWorld, and SME Impact Fund.
READ MORE

London-based Fintech Verto Partners with UBA to Enhance Cross-Border Transactions in Kenya

Verto, a leading London-based fintech and payment solution provider, has announced a strategic partnership with the United Bank of Africa (UBA) to streamline cross-border transactions for Kenyan entrepreneurs, small-scale businesses, and corporations.
READ MORE
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Ibrahim Sagna

African Changemaker

Ibrahim Sagna

Ibrahim Sagna is a Seegalese entreprenuer, institutional platform builder , technology enthusiast and prolific private investor.

As the Executive Chairman of Silverbacks Holdings, he has been instrumental in driving growth and innovation in the region, investing in and supporting some of the most promising technology companies in West Africa. With over two decades of experience in the industry, Sagna’s expertise and leadership have been instrumental in the success of several businesses in the region.

 

He has been a key player in developing and implementing mobile payments and banking solutions across Africa, paving the way for greater financial inclusion and economic growth. Sagna’s commitment to innovation and excellence has earned him widespread recognition and respect in the industry. He is a trailblazer and pioneer, constantly pushing the boundaries of what is possible and driving change for the better

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The Commercial Potential of Africa’s Digital Revolution

  • EmpowerAfrica
Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
READ MORE

Tunisian Team Collaboration Startup Cynoia Secures $930k in Funding for West African Expansion

Tunisian team collaboration startup Cynoia has announced a significant funding milestone, securing $930,000 to fuel its expansion into the West African Economic and Monetary Union (UEMOA), focusing on Senegal and Ivory Coast.
READ MORE

Mastercard Africa Growth Fund Invests $27  Million in Africa-Focused Investment Firms Chui Ventures, VestedWorld, and SME Impact Fund

The Mastercard Africa Growth Fund has announced investments in three Africa-focused investment firms: Chui Ventures, VestedWorld, and SME Impact Fund.
READ MORE

London-based Fintech Verto Partners with UBA to Enhance Cross-Border Transactions in Kenya

Verto, a leading London-based fintech and payment solution provider, has announced a strategic partnership with the United Bank of Africa (UBA) to streamline cross-border transactions for Kenyan entrepreneurs, small-scale businesses, and corporations.
READ MORE
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Zambia: MTN launches Skills Academy to empower youth with digital skills

Key Developments

Zambia: MTN launches Skills Academy to empower youth with digital skills

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Siemens Did you know that the digital gap in Africa remains a significant challenge, with internet penetration estimated to be around 39.3%

The facility will provide the necessary financial resources to support the growth and development of private sector operations in Africa, which will, in turn, create more jobs, increase productivity, and foster inclusive economic growth. The loan will support various private sector operations, including infrastructure development, agribusiness, energy, and manufacturing. It will also provide financing for small and medium-sized enterprises (SMEs) in Africa, which is critical to job creation and economic growth.

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AfDB secures $350 million from JICA to support Africa’s private sector

Key Developments

AfDB secures $350 million from JICA to support Africa’s private sector

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The African Development Bank Group (AfDB) has secured a $350 million loan from the Japan International Cooperation Agency (JICA) to enhance its support for private sector operations in Africa.

The facility will provide the necessary financial resources to support the growth and development of private sector operations in Africa, which will, in turn, create more jobs, increase productivity, and foster inclusive economic growth. The loan will support various private sector operations, including infrastructure development, agribusiness, energy, and manufacturing. It will also provide financing for small and medium-sized enterprises (SMEs) in Africa, which is critical to job creation and economic growth.

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African Startups to benefit from Capria Ventures’ new $100 million fund

Key Developments

African Startups to benefit from Capria Ventures’ new $100 million fund

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Capria Ventures, the global investment firm focused on backing early-stage impact-driven businesses, announced its first Global South Fund II close at $100 million.

The new fund will focus on investing in 20-25 tech startups in Africa, India, Southeast Asia, Latin America, and the Middle East. The Global South Fund II aims to generate positive social and environmental impact in sectors such as healthcare, education, financial inclusion, and agriculture.

The fund’s investors include a mix of development finance institutions, family offices, and institutional investors from around the world.

Key among the investors in the fund includes Gates Ventures, the investment vehicle of tech mogul, Bill Gates. Other institutional investors include Crystal Springs Foundation, Inc., OIP Investment Trust, Sall Family Foundation, and Brakeman Family Trust, as well as two founders of Pioneer Square Labs. The Global South Fund II builds on the success of Capria’s first fund.

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