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Nigerian fintech Zuvy secures $4.5 million debt funding to provide invoice financing for African SMEs

New Investments

Nigerian fintech Zuvy successfully secures $4.5 million in debt funding to provide African SMEs with invoice financing to fund its expansion in Africa

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Nigerian tech startup, Zuvy Technologies, has raised $4.5 million in a recent funding round to provide invoice financing for African SMEs.

Zuvy aims to bridge the gap between vendors and buyers by leveraging innovative digital solutions. The company’s platform provides a user-friendly marketplace that connects small-scale vendors with potential customers, enhancing accessibility and expanding the customer base for these entrepreneurs.

 

The startup’s latest funding round was led by TLG Capital, Dunbar Capital, David Mussafer (chairman of Advent International), Next Chymia Consulting HK Limited, Khalil Osman from Vicus Ventures, and others. The capital injection will enable Zuvy to scale its operations, improve its technology infrastructure, and drive customer acquisition efforts.

Zuvy aims to provide a platform that supports small-scale businesses’ growth while offering customers a superior shopping experience. Since its launch in 2021, Zuvy has steadily gained traction in the Nigerian market.

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SEACOM secures $207 million from IFC to boost digital connectivity in Africa

Key Developments

SEACOM secures $207 million from IFC to boost digital connectivity in Africa

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SEACOM LTD, one of the leading Pan-African data services providers, has secured $207 million in funding from the International Finance Corporation (IFC) to accelerate digital connectivity in seven African countries.

The funding will be utilized to expand and upgrade its submarine and terrestrial cable infrastructure across the African continent. The funding will also support deploying new fiber-optic networks and enhancing existing infrastructure, ensuring faster, more reliable, and affordable internet connectivity for businesses and consumers.

The seven countries set to benefit from SEACOM’s infrastructure development include Kenya, Tanzania, Mozambique, South Africa, Rwanda, Uganda, and Djibouti. These countries were selected due to their strategic geographic locations and potential to significantly impact regional digital transformation efforts. The investment aligns with SEACOM’s commitment to bridging the digital divide and promoting inclusive growth in Africa.

The project aims to unlock opportunities in various sectors, including e-commerce, telecommunication services, healthcare, education, and finance, by bolstering digital connectivity. Improved internet access will enable businesses to expand operations, drive innovation, and enhance productivity.

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Dr. Ibrahim Mayaki 

Dr. Ibrahim Mayaki

Dr. Mayaki is the former CEO of the African Union Development Agency-NEPAD (AUDA-NEPAD), whose contributions to African development are impacting the continent.

With a profound international development and governance background, Dr. Mayaki brought a wealth of knowledge and expertise to his role. As the CEO of AUDA-NEPAD, he played a pivotal role in driving sustainable development initiatives across Africa. Under his leadership, AUDA-NEPAD has become a beacon of hope, channeling efforts towards crucial priority areas such as agriculture and food security, infrastructure development, education, health, and women empowerment.

By collaborating with African governments, regional economic communities, development partners, and the private sector, AUDA-NEPAD has spearheaded transformative projects that empower communities and pave the way for a brighter future.
Dr. Mayaki’s strategic vision and dedication to sustainable development have earned him widespread respect and admiration. His ability to foster strong partnerships and collaborations has been instrumental in accelerating progress and achieving tangible results.

Beyond his professional accomplishments, Dr. Mayaki’s passion for Africa and its people shines through.
He is a staunch advocate for inclusive growth, social justice, and the empowerment of marginalized communities. He is currently serving as the Special Envoy for Food System at the African Union.

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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.
Egypt-based logistics platform Nowlun has raised $1.7 million in a seed funding round led by Nama Ventures and A15, with additional contributions from Sanabil 500 Global and prominent angel investors.
Zanele Abraham Matome is a South African entrepreneur and the founder of Welo Health, a healthtech startup launched in 2020.
President Joseph R. Biden has announced more than $1 billion in additional humanitarian assistance to address urgent needs arising from food insecurity and crises affecting refugees, internally displaced persons (IDPs), and vulnerable communities in 31 African countries.
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Niama El Bassunie

Niama El Bassunie

Niama is a Moroccan startup founder, investor and advisor in technology companies in Africa and beyond.

She is the Founder of WaystoCap, a premier B2B marketplace in Africa on a mission to solve the inefficient continental supply chain by bringing: payments, logistics, and distribution into one online platform.

Now acquired, WaystoCap is one of the first North African companies to be accepted into Y Combinator in 2016.
Niama is also the Managing Partner at The Baobab Network, an accelerator investing in early-stage technology companies across Africa. At the Baobab Network, she is backing founders leveraging technology to solve some of the continent’s most significant challenges today.

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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.
Egypt-based logistics platform Nowlun has raised $1.7 million in a seed funding round led by Nama Ventures and A15, with additional contributions from Sanabil 500 Global and prominent angel investors.
Zanele Abraham Matome is a South African entrepreneur and the founder of Welo Health, a healthtech startup launched in 2020.
President Joseph R. Biden has announced more than $1 billion in additional humanitarian assistance to address urgent needs arising from food insecurity and crises affecting refugees, internally displaced persons (IDPs), and vulnerable communities in 31 African countries.
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Dr. Hubert Danso

Dr. Hubert Danso

Danso is a prominent figure in infrastructure development and investment in Africa.

He is the CEO and Chairman of Africa investor, a leading investment and advisory firm focused on driving sustainable development and economic growth in Africa. Dr Danso has extensive experience in infrastructure finance and development, with a particular emphasis on sectors such as energy, transportation, telecommunications, and real estate. He has been vital in facilitating major infrastructure projects across the continent, working closely with governments, multilateral institutions, and private sector entities.

As a recognized thought leader and advocate for Africa’s economic transformation, Dr Danso has actively promoted investment opportunities and fostered partnerships to unlock Africa’s potential.
He is a frequent speaker at international conferences and forums, sharing his insights and expertise on infrastructure development, investment strategies, and the African business landscape.

In addition to his role at Africa Investment Group, Dr Danso is also the Founder and Chairman of the African Energy Chamber, an organization that represents the interests of the African energy sector and works towards promoting investment and sustainable development in the industry.
Dr Hubert Danso’s contributions to infrastructure development and investment in Africa have earned him recognition and accolades.

You may also like...

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.
Egypt-based logistics platform Nowlun has raised $1.7 million in a seed funding round led by Nama Ventures and A15, with additional contributions from Sanabil 500 Global and prominent angel investors.
Zanele Abraham Matome is a South African entrepreneur and the founder of Welo Health, a healthtech startup launched in 2020.
President Joseph R. Biden has announced more than $1 billion in additional humanitarian assistance to address urgent needs arising from food insecurity and crises affecting refugees, internally displaced persons (IDPs), and vulnerable communities in 31 African countries.
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 Oumar Basse

Oumar Basse

Oumar Basse is a Senegalese tech entrepreneur democratizing last-mile delivery in Africa.

He is the Co-Founder and CEO of YOBANTE EXPRESS, an African-based company solving the biggest problem in Africa – the last-mile delivery in upcoming markets. The startup has created a marketplace to connect local couriers with local commerce to optimize domestic and cross-border last-mile delivery.

 

Basse’s Yobante Express is the first logistics start-up in Africa to leverage informal domestic shipment form with a technology platform that enables complete trackability and customer service and reduces the prospect of lost or damaged merchandise.

Basse is no stranger to entrepreneurship, having previously founded several tech ventures, including Nano Air. His strong entrepreneurial spirit has seen him win several accolades, including being named the Best Emerging Entrepreneur in Africa.

You may also like...

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.
Egypt-based logistics platform Nowlun has raised $1.7 million in a seed funding round led by Nama Ventures and A15, with additional contributions from Sanabil 500 Global and prominent angel investors.
Zanele Abraham Matome is a South African entrepreneur and the founder of Welo Health, a healthtech startup launched in 2020.
President Joseph R. Biden has announced more than $1 billion in additional humanitarian assistance to address urgent needs arising from food insecurity and crises affecting refugees, internally displaced persons (IDPs), and vulnerable communities in 31 African countries.
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CrossBoundary Energy Raises $50 Million to Accelerate Clean and Reliable Power for African Businesses

Key Developments

CrossBoundary Energy Raises $50 Million to Accelerate Clean and Reliable Power for African Businesses

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CrossBoundary Energy, a leading provider of clean energy solutions in Africa, has secured $50 million in funding to accelerate the deployment of clean and reliable power solutions for businesses across the African continent.
 

CrossBoundary Energy specializes in developing and operating distributed solar energy projects for commercial and industrial clients. By offering solar-as-a-service, the company eliminates the upfront costs and operational complexities associated with traditional energy systems. This approach enables businesses to access clean and reliable power, reduce their carbon footprint, and lower energy costs, boosting their competitiveness and sustainability.

 

The $50 million investment will support CrossBoundary Energy’s ambitious plans to expand its project pipeline, reach new markets, and deepen its impact across the continent. With this funding, the company aims to accelerate the deployment of solar energy systems, providing businesses with a cost-effective and environmentally friendly alternative to conventional power sources. With Africa’s energy demand projected to rise significantly in the coming years, the need for scalable and sustainable power solutions has never been more critical.

CrossBoundary Energy’s $50 million funding injection will play a vital role in addressing this challenge and driving the continent towards a more sustainable and resilient energy infrastructure

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Nigeria’s Eze raises $3.7 million seed funding

New Investments

Nigeria’s Eze raises $3.7 million seed funding

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Nigerian B2B marketplace startup Eze has raised $3.7m to revolutionize the African electronics market.

The funding round, led by Right Side Capital Management, attracted investments from C2 Ventures, Boro Capital, EVPI Investments, and several angel investors. Founded in 2020, the YC-backed startup aims to bridge the gap between the global technology landscape and African consumers by providing them with access to electronics at competitive prices.

 

With this substantial investment, the company intends to ramp up its operations, enhance its product offerings, and expand its reach across the continent. The company’s innovative business model leverages e-commerce platforms and localized retail outlets to reach consumers in both urban centres and remote areas.

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Nigerian fintech startup Zeeh Africa gets funding to consolidate financial data

New Investments

Nigerian fintech startup Zeeh Africa gets funding to consolidate financial data

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Nigerian fintech startup Zeeh Africa has funding to consolidate financial data in a single platform.

Zeeh Africa secured the funding from Tekedia Capital, a firm investing in mainly technology-anchored companies operating in any industry, including finance. Founded in 2022, Zeeh Africa specializes in unifying financial data in one place, offering a comprehensive solution for businesses and individuals.

 

The startup plans to utilize the funds to further develop its cutting-edge financial data consolidation platform, which aims to revolutionize how financial institutions manage and analyze vast amounts of data. By offering a unified solution, Zeeh Africa aims to tackle the challenge of fragmented financial information across various systems and platforms, enabling banks, insurance companies, and other financial institutions to streamline their operations efficiently.

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