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NBA Africa Launches Triple-Double Startup Accelerator Program for Early-Stage African Businesses

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NBA Africa Launches Triple-Double Startup Accelerator Program for Early-Stage African Businesses

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NBA Africa has unveiled Triple-Double, a new startup accelerator program designed to empower early-stage businesses across Africa.

Focused on innovation in the sports and creative industries, Triple-Double seeks applicants working in event management and ticketing, youth development, artificial intelligence (AI), and digital marketing.

In collaboration with tech incubator ALX Ventures, the program will select ten startups to receive mentorship from NBA Africa, ALX, and industry leaders.

Mentorship will focus on product development, business growth, and go-to-market strategies.

A culminating demo day in New York City this September will provide participating startups with the opportunity to pitch their ventures to a global panel of industry experts.

“We are excited to launch this program specifically designed for African startups,” said NBA Africa CEO Clare Akamanzi. “This initiative underscores our commitment to growing the African sports ecosystem, and the participating companies will play a vital role in shaping the future of sport on the continent.”

Top performers will be awarded cash prizes and in-kind support.

The grand prize winner will receive $50,000 USD in cash and an additional $50,000 USD in value-in-kind support.

Second, third, and fourth-place winners will receive decreasing amounts of cash and value-in-kind support.

Winning startups will also gain access to continued mentorship and the chance to collaborate with NBA Africa and the Basketball Africa League on upcoming initiatives.

Applications for Triple-Double are open until May 31st here – https://tripledoubleaccelerator.nba.com/apply/

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Mauritius Telecom Plans New Subsea Cable to Boost Africa-Asia Connectivity

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Mauritius Telecom Plans New Subsea Cable to Boost Africa-Asia Connectivity

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Mauritius Telecom, the leading telecommunications provider in Mauritius, is spearheading the development of a new subsea cable project, dubbed T4.
 

This critical infrastructure will enhance internet connectivity between Africa, the Indian Ocean islands, and Asia.

Discussions are underway with potential partners, including Indian telecom giant Reliance Jio Infocomm Ltd. and French multinational Orange SA (Groupe Orange).

T4 is designed to replace the existing South Africa Far East (SAFE) cable upon its expiry in 2027.

The new cable boasts a significant upgrade, offering a staggering 1,000 times the capacity of its predecessor, according to Mauritius Telecom CEO Kapil Reesaul.

“Recent cable disruptions highlight the need for a more robust connection to the Far East,” Reesaul explained. “T4 will directly link Mauritius to India and Singapore, ensuring greater redundancy and improved internet stability.”

The project is motivated by a series of recent outages, with Mauritius experiencing a technical glitch on April 26th, adding to disruptions caused by damaged undersea cables near Ivory Coast (March 2024) and Yemen (since February 2024).

The new cable is expected to follow a similar route as the SAFE cable, stretching approximately 13,500 kilometers from South Africa to Singapore, with stops in Madagascar, La Reunion, and Mauritius.

This initiative builds upon Mauritius Telecom’s recent investments in network infrastructure. In 2023, the company invested $60 million in the T3 cable connecting Mauritius to South Africa.

Additionally, the island nation leverages the existing LION/LION2-EASSy-EIG cable for connections on the northern route.

Reesaul anticipates increased data traffic flowing through India and Singapore in the future, potentially exceeding the capacity of existing backup systems. T4 aims to mitigate this risk and ensure continued reliable connectivity.

Talks are ongoing with potential partners for the T4 consortium, including Telkom SA, Telekom Malaysia Bhd, Cable & Wireless Ltd. of the Seychelles, and China Telecom Corp.

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IZI Rwanda Delivers Electric Buses in First-of-its-Kind E-Mobility Project

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IZI Rwanda Delivers Electric Buses in First-of-its-Kind E-Mobility Project

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IZI Rwanda, a frontrunner in electric vehicle solutions, has delivered five electric buses to Kigali, Rwanda’s capital city.
 

These buses mark the beginning of a pilot project aimed at electrifying Kigali’s public transportation system at a significantly lower cost than previously anticipated.

Kigali’s population has surged by 50% since 2013, while the number of operational buses has dwindled.

This decline is primarily attributed to rising diesel costs and capped fares, often requiring buses to be 80% full just to break even.

Shrinking bus fleets have led to long wait times for commuters, impacting their daily lives and productivity.

Additionally, vehicle emissions contribute 13% of Rwanda’s greenhouse gases, necessitating a swift transition to cleaner transportation options.

The Rwandan government has actively promoted public transport electrification through various policies.

However, Public Transport Operators (PTOs) have been hesitant to invest in electric buses due to the high initial cost, uncertain resale value, and lack of local maintenance facilities.

IZI Rwanda’s innovative e-mobility-as-a-service model addresses these concerns and offers a smooth path for PTOs of all sizes to electrify their fleets.

Under this model, bus operators pay a low per-kilometer fee and gain access to IZI’s “Pay As You Go” service, including a fully electric vehicle, charging infrastructure, comprehensive vehicle maintenance, and driver training.

This eliminates upfront costs for operators, allowing them to achieve an average operational cost saving of 40%, boosting profitability and enabling them to serve the growing urban population.

A proprietary platform developed by IZI plays a crucial role in their cost-effective solution. It significantly extends the lifespan of electric vehicle batteries, thereby reducing overall vehicle costs.

The IZI Connect fleet management system, already managing over 9,000 vehicles in China, monitors battery health and facilitates predictive maintenance. This is further supported by a Battery Laboratory capable of on-site battery cell repair and replacement.

This state-of-the-art Battery Laboratory, the first of its kind in Africa, will not only service IZI’s fleet but also offer battery analysis, repair, and maintenance services to other electric vehicle users in Rwanda.

Strategically located in Kigali, the lab is expected to create specialized jobs and accelerate the adoption and growth of electric vehicles across Rwanda and East Africa.

“We believe IZI’s service model has the potential to significantly improve our business profitability and fuel our expansion,” stated Charles Ngarambe, CEO of Kigali Bus Services.

IZI Rwanda has received orders for over 200 electric buses to be deployed in Rwanda throughout 2024.

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Nigerian Logistics Startup Renda Secures $1.9 Million Pre-Seed Funding

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Nigerian Logistics Startup Renda Secures $1.9 Million Pre-Seed Funding

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Renda, a Nigerian logistics startup tackling order fulfilment challenges, has secured $1.9 million in pre-seed funding.

The round was led by Ingressive Capital, a prominent African early-stage VC firm, with participation from several other investors. This injection of capital will fuel Renda’s expansion plans and service improvements.

Founded in 2021, Renda focuses on a critical gap in Africa’s logistics landscape – providing end-to-end fulfilment solutions.

While many startups address middle-mile and last-mile delivery, Renda offers a comprehensive suite of services including storage, inventory management, order processing, delivery management, return handling, and real-time cash-on-delivery tracking.

“The informal nature of many African economies presents logistical hurdles, especially for businesses struggling with infrastructure limitations,” said Ope Onaboye, CEO of Renda.

“Our asset-light model allows us to partner with existing warehousing, delivery providers, and cash collection agents to create a seamless fulfillment network.”

Renda leverages a network of over 300 warehousing and storage partners, 3,000 delivery vehicles (including trucks, vans, and bicycles), and 2,000 cash collection partners.

This extensive network has reportedly facilitated reaching over 100,000 customers across 15 Nigerian states and processing over 250,000 orders.

The company boasts a 450% year-on-year revenue growth, highlighting the strong market demand for its services.

Renda’s initial customer base focused on small businesses, but its reach has since expanded to encompass e-commerce platforms, FMCG producers, agricultural companies, and general manufacturers.

The company plans to utilize the new funding to enhance its offerings and expand into additional cities within Nigeria and Kenya, with a focus on Kenyan expansion later in 2024.

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Village Capital, Norad Partner to Launch Climate-Focused Ecosystem-Building Program in Africa

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Village Capital, Norad Partner to Launch Climate-Focused Ecosystem-Building Program in Africa

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Village Capital and the Norwegian Agency for International Development Cooperation (Norad) have launched a new initiative – Empowering Sustainable Entrepreneurship Africa, aimed at bolstering climate-focused startups and strengthening entrepreneurial ecosystems.
 

This program targets Entrepreneur Support Organizations (ESOs) and ventures in Ghana, Kenya, Malawi, Mozambique, and Tanzania.

Village Capital, with a long history of supporting entrepreneurs in Sub-Saharan Africa (over 14 accelerator programs since 2012), will bring its expertise to the table. Norad, a champion of the UN’s Sustainable Development Goals (SDGs), will contribute its global partnership experience.

Empowering Sustainable Entrepreneurship Africa takes a two-pronged approach.

First, it will equip ESOs, often the backbone of local entrepreneurial communities, with the technical skills and resources they need to thrive.

Second, it will directly support climate-focused startups in the target countries, fostering a pipeline of high-growth ventures tackling critical areas like renewable energy, food security, and climate adaptation solutions.

“ESOs are essential,” said Rachel Crawford, leading special projects at Village Capital. “They provide crucial support to entrepreneurs, acting as trainers and connectors to vital networks like investors and talent.”

“But these ESOs often face similar challenges to the startups they help. Village Capital’s unique program design addresses this by combining ecosystem development, venture support, and access to capital,” Crawford added.

Per Fredrik Ilsaas Pharo, Norad’s director of climate and environment, echoed the program’s significance. “Entrepreneurs are drivers of change for the SDGs,” he said. “This partnership tackles the barriers they face – limited access to funding and technical support – by strengthening the ESO ecosystem.”

“The program’s multi-sectoral approach, focusing on areas like the blue economy and climate adaptation, positions it to make a significant contribution to African innovation and entrepreneurship,” Pharo concluded.

For ESOs in the targeted countries interested in program details and engagement opportunities, Village Capital will host an information session. This session will delve deeper into the program and its eligibility criteria.

To learn more and express interest in the information session, contact Ahmed Fadl, program manager at Village Capital (ahmed.fadl@vilcap.com).

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