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Zambian solar energy company MySol raises $7.7 million to elecrify 40,000 people with solar energy

Key Developments

Zambian solar energy company MySol raises $7.7 million to elecrify 40,000 people with solar energy

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Zambia-based solar energy company, MYSOL, has secured $7.5 million in funding to accelerate the deployment of off-grid solar electrification projects across the country.
 

The investment will be used to expand MYSOL’s operations and provide clean, reliable, and affordable electricity to underserved communities in rural areas of Zambia. The African Development Bank’s Facility Energy Inclusion (FEI), which is on a mission to provide flexible, sustainable, and efficient financing to support the expansion of the energy sector in Africa, led the funding.

MYSOL aims to leverage the funds to increase its solar energy capacity and extend its reach to areas that currently lack access to electricity. The company’s off-grid solar solutions offer a sustainable alternative to conventional power sources, especially in remote regions where grid infrastructure is limited or absent. With the new investment, MYSOL plans to install mini-grids, solar home systems, and solar-powered water pumps, catering to the diverse energy needs of rural communities.

The company hopes to improve living conditions by providing clean electricity, stimulating economic growth, and enhancing educational opportunities in these areas. The Zambian government has been actively promoting renewable energy to address the energy access gap and reduce dependence on fossil fuels.

Zambia has abundant solar resources, making it an ideal location for solar energy projects. MYSOL’s initiatives will contribute to reducing carbon emissions, foster the development of a green economy, and create employment opportunities in the renewable energy sector.

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Moroccan proptech startup Agenz has secured $1.3 million pre-Series A funding

New Investments

Moroccan proptech startup Agenz has secured $1.3 million pre-Series A funding

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Propel, a Nigerian talent-matching startup that builds sustainable talent pipelines for communities, has raised $2.74 million in seed funding.

The funding will be instrumental in scaling the startup’s AI-powered real estate platform, which leverages advanced technologies to streamline property transactions and deliver a seamless property search experience. The investment round attracted notable investors, including Azur Innovation Management Fund, MITC Capital – Maroc Numeric Fund Fund II, and beenok, an international investment fund.

 

Founded in 2021, Agenz incorporates artificial intelligence, machine learning, and data analytics to provide valuable insights and personalized recommendations to property professionals and prospective buyers. Agenz aims to simplify and optimize the property search process, making it more efficient, transparent, and user-friendly. Agenz’s AI-powered platform offers a range of features and benefits to property professionals and individuals seeking their dream homes.

 

The platform enables real estate agents to efficiently manage their property listings, automate tedious administrative tasks, and gain valuable market insights to better serve their clients. Agenz’s ambitious plans to scale its AI-powered real estate platform align with Morocco’s growing proptech landscape and the increasing demand for digital solutions in the property market.

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Propel, a Nigerian talent-matching startup that builds sustainable talent pipelines for communities, has raised $2.74 million in seed funding

New Investments

Propel, a Nigerian talent-matching startup that builds sustainable talent pipelines for communities, has raised $2.74 million in seed funding

| Article

Propel, a Nigerian talent-matching startup that builds sustainable talent pipelines for communities, has raised $2.74 million in seed funding

The round was led by Amsterdam-based No Such Ventures, with participation from APX, Golden Egg Check, and Future of Learning Fund. Founded in 2020 by Sunkanmi Ola, Seun Owolabi, and Abel Agoi, the platform connects communities with global companies, helping to derisk the process of hiring remote talent from emerging markets, particularly in Africa.

 

Propel plans to use the investment to drive the roll-out and adoption of its community-as-a-service platform. Propel’s platform is currently used by over 100 communities in Africa and the Middle East. The company has seen strong growth in recent months, with the number of job postings on its platform increasing by 300%.

With this latest funding, Propel is well-positioned to continue its growth and become a leading platform for connecting communities with global companies.

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Nigerian mobility fintech startup Moove has secured $8 million in funding to fuel the expansion of its vehicle fleet in Ghana

New Investments

Nigerian mobility fintech startup Moove has secured $8 million in funding to fuel the expansion of its vehicle fleet in Ghana

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Nigerian mobility fintech startup Moove has secured $8 million in funding to fuel the expansion of its vehicle fleet in Ghana.

The investment will enable Moove to enhance its presence in the Ghanaian market, further revolutionizing the mobility sector and providing accessible and convenient transportation solutions to individuals and businesses. The innovative business model of Moove combines mobility solutions with fintech capabilities, providing affordable and reliable transportation options to individuals and businesses.

 

Leveraging technology and data analytics, Moove aims to bridge the transportation gap and revolutionize the mobility landscape in emerging markets. With the new funding from Absa Corporate and Investment Banking (CIB), Moove plans to expand its vehicle fleet in Ghana, allowing more people to benefit from its efficient and convenient transportation services.

The investment will enable the company to meet the growing demand for mobility solutions in Ghana and enhance its operational capacity to serve a wider customer base.

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From Fields to Smartphones: How Farmerline is Revolutionizing Farming In Africa Through Tech

StartUp Spotlight

From Fields to Smartphones: How Farmerline is Revolutionizing Farming In Africa Through Tech

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In this week’s edition of the startup spotlight, we feature Ghanaian ag-tech startup, Farmerline.

Farmerline is a trailblazing company dedicated to empowering African farmers through innovative technology and sustainable solutions.

Founded in 2013, Farmerline is on a mission to create a world where all farmers have access to vital information, resources, and opportunities, enabling them to improve their livelihoods and build sustainable agricultural practices.

The primary mission of Farmerline is to leverage technology to deliver vital agricultural information and services directly to farmers, particularly in underserved rural communities.

By harnessing the power of mobile technology and data-driven solutions, Farmerline aims to bridge the knowledge and information gap that often hinders farmers from optimizing their productivity and profitability.

Farmerline has developed a user-friendly mobile application that enables farmers to access a wide range of information, including weather forecasts, crop management techniques, market prices, and financial insights.

This application serves as a digital hub for farmers, equipping them with real-time knowledge and enabling them to make informed decisions.

The ag-tech startup has also established a robust data collection and analytics platform, enabling them to gather valuable insights into farmers’ behaviors, needs, and challenges.

This data-driven approach helps identify trends, optimize interventions, and tailor solutions to specific contexts, ultimately driving more significant impact and scalability.

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