Applications open for Nigeria-based Founders Incubator programme
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The Nigeria-based Chinook Lab has opened applications for its Founders Incubator programme, which offers selected startups access to training and services, and up to US$150,000 in funding. Chinook Lab, powered by Chinook Capital, said its programme, for which applications close on October 31, focuses on market validation and customer acquisition. The company is looking for…

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Why The African Startup Ecosystem Could Use More AgriTech Enterprises
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With current figures indicating that an estimated 70% of the continent’s population depends on it for employment and income, the agricultural sector remains one of the mainstays of Africa’s economy. As of 2016, agriculture was reported to have weighed in with as much as 32% of the continent’s Gross Domestic Product (GDP) and with this…

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Impact investment firm RENEW expands to Uganda
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Private equity impact investment firm RENEW has announced its expansion into Uganda, the company’s second African market after Ethiopia. RENEW is an impact investment firm that has designed a financing model to address the missing middle that exists in capital markets across many countries in Sub-Saharan Africa. The company does this by investing capital alongside…

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Lori To Expand To Uganda, Rwanda And South Sudan After Inking Deal With Kenya’s SGR
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Lori has announced its partnership with Kenya’s Standard Gauge Railway project which is the latest government passenger and cargo train system as well as its expansion into the neighboring countries of Uganda, Rwanda, and South Sudan. Lori’s foray into the business of lorries that lower truck transport costs and ease last mile distribution logistics saw…

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Here are the 11 startups pitching at Seedstars DRC
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Global startup competition Seedstars has selected 11 startups to pitch at its event in Kinshasa, Democratic Republic of Congo (DRC) for a place at the global final and the chance of securing US$1 million in equity investment. Seedstars, which has already picked African winners in Egypt, Tunisia, Zimbabwe, Morocco, Ghana, Rwanda, Libya, Uganda and Senegal,…

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Egyptian healthtech Vezeeta raises $12m in Series-C round led by Riyadh VC STV
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Egyptian healthtech startup Vezeeta has closed a $12-million Series C funding round led by Riyadh-based venture capital fund Saudi Technology Ventures (STV). At least three of Vezeeta’s existing investors — BECO Capital, Vostok New Ventures and Silicon Badia participated in the round. The startup’s initial backers were also joined by Crescent Enterprises’ CE-Ventures. Operating from its headquarters in…

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A15 Sells 76% Stake In Fintech Startup TPAY To Helios Investment Partners
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A15, a tech investment fund based in the Cayman Islands, announced that it has successfully sold its 76% stake in its U.A.E. based fintech startup TPAY Mobile FZ-LLC to Africa-based private investment firm Helios Investment Partners for an undisclosed amount. TPAY states that it is one of the fastest growing direct carrier billing (DCB) provider…

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Tunis-based robotics startup ‘Enova Robotics’ raises $1.6 million in the largest funding round for a Tunisian startup
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Enova Robotics, a Tunisian robotics startup has raised $1.6 million investment in what’s the largest-funding round for a Tunisian startup, according to our data. The investment came from Tunisian investment firm Capsa Capital and valued the company close to $5.4 million. The startup was founded by Dr. Anis Sahbani, a PhD in robotics with more…

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JUMO raises $52M led by Goldman Sachs to further its growth & expansion into new markets
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JUMO, a South African fintech platform has closed an equity funding round of USD$52 million led by Goldman Sachs to further its growth and expansion into new markets. JUMO has offices in Kenya, Uganda, Tanzania, Rwanda, Ghana, Zambia, Pakistan, United Kingdom, Singapore and South Africa. Other leading investors including Proparco, the private sector financing arm of…

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SA’s Loyal1 wins The Workspace/MiWay entrepreneur competition
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South African loyalty management platform Loyal 1 has won The Workspace/MiWay Business Insurance Entrepreneur Competition, securing prizes worth over ZAR500,000 (US$34,000). Co-working operator The Workspace and MiWay business insurance announced five finalists for the competition in July, with Loyal1, a cloud-based loyalty management platform for small and medium sized businesses founded by Tshireletso Hlangwane, named…

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Moroccan healthtech DabaDoc secures undisclosed investment from top insurer
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Moroccan healtech DabaDoc — allows users to locate and make appointments with doctors online — has secured an undisclosed investment from the startup’s first institutional shareholder Axa Insurance Morocco. The investment deal, which was signed last Wednesday (12 September), is set to enhance DabaDoc’s footprint in its current markets in Morocco, Algeria and Tunisia. In addition…

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Why I invest in teams over single founders – venture capitalist [Q&A]
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You have a great idea, now you want to get funding for your startup. Do VCs prefer investing in teams or in single founder companies? For venture capitalist and co-founder of Knife Capital Keet van Zyl the choice when it comes to investing in a startup often comes down to a startup with a team as…

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