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Ethiopia-based Micro-Insurance Startup Jamii.One Secures New Investment From Renew Capital

New Investments

Ethiopia-based Micro-Insurance Startup Jamii.One Secures New Investment From Renew Capital

Renew Capital, an impact-focused venture capital firm investing in early-stage African startups, has backed Ethiopia-based micro-insurance startup Jamii.one with a new investment.
 
The round also included participation from existing investors Blue Haven Ventures and angel investors.

Jamii.one is a digital micro-insurance platform that provides affordable and accessible insurance products to low-income individuals and communities in Ethiopia.
 
The company’s products include crop, livestock, and health insurance.

Renew Capital’s investment will be used to help Jamii.one expand its product offerings, reach new customers, and grow its team.
 
The company plans to launch new products, such as income protection insurance and funeral insurance, in the coming months.

Ethiopia is one of the poorest countries in the world, and over 80% of the population lives in rural areas.
 
Access to insurance is very low, with only 1% of the population having any type of insurance policy.

Jamii.one is helping to address this gap by providing affordable and accessible insurance products to low-income individuals and communities.
 
The company’s products are designed to help people protect themselves from financial hardship caused by unexpected events such as crop failure, livestock death, or illness.

Jamii.one’s platform is easy to use and can be accessed via mobile phone or the internet.
 
The company offers a variety of payment options, including mobile money and cash.

Renew Capital’s investment in Jamii.one is a positive development for the Ethiopian insurance market.

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Ivorian Startup Auto24 Takes its Used Car Revolution to Morocco, Rwanda, Senegal, and South Africa

Key Developments

Ivorian Startup Auto24 Takes its Used Car Revolution to Morocco, Rwanda, Senegal, and South Africa

Auto24, an Ivorian used car marketplace, has announced its expansion into four new African markets: Morocco, Rwanda, Senegal, and South Africa.
 
 

This marks the startup’s first major international expansion since its launch in 2022.

Auto24 was founded by Axel Peyriere, a French entrepreneur with over 20 years of experience in the African automotive industry.

The startup aims to revolutionize the used car buying and selling experience in Africa by providing a transparent and convenient platform for buyers and sellers to connect.

Auto24 offers a wide range of used cars from a variety of makes and models.

All cars are inspected and certified by Auto24’s team of experienced mechanics before being listed on the platform.

Auto24 also offers a number of value-added services, such as financing options, insurance plans, and warranties.

Auto24’s expansion into Morocco, Rwanda, Senegal, and South Africa is a significant development for the African tech ecosystem. It demonstrates the growing maturity of African startups and their ability to scale to new markets.

Why Auto24 chose these markets

Peyriere said that Auto24 chose to expand into Morocco, Rwanda, Senegal, and South Africa for a number of reasons.

Morocco and South Africa are two of the largest car markets in Africa.

Auto24 believes that it can make a significant impact in these markets by offering a more transparent and convenient way to buy and sell used cars.

Rwanda is an important market for electric cars. Auto24 is committed to promoting the adoption of electric cars in Africa, and it sees Rwanda as a key market for this initiative.

Senegal is similar to Côte d’Ivoire in terms of its culture and economy, and Auto24 believes that its experience in Côte d’Ivoire will help it to quickly succeed in Senegal.

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