Financial edtech startup FinMeUp secures funding from ZAQ Ventures to expand its offering

SOUTH AFRICA – FinMeUp, a financial education startup, has secured an undisclosed amount in funding from ZAQ Ventures (Venture Studio), a venture capital firm that focuses on investing in startups. According to reports, the undisclosed amount of funding, which was secured from an angel round, will be used towards the development and expansion of the financial edtech startup’s platform and product offerings. This included the launch of new features and establishing partnerships along with the implementation and launch of FinMeUp wealth. The funds will be used to build out the…

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Mobility fintech Moove partners with Lori Systems to boost trucking and logistics financing in Africa

AFRICA – Mobility fintech Moove, has signed an exclusive partnership with Lori Systems, an e-logistics company in Africa, marking its first foray into the logistics industry. It will also build on rapid growth over the last 15 months in car financing, as it leverages its revenue-based financing model to bridge the financing gap across one of the continent’s most highly fragmented sectors. Moove and Lori Systems’ partnership will focus on delivering access to affordable vehicle financing within Africa’s trucking and logistics industry where penetration for truck financing is lower than…

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David Myers appointed as Chief Operations Officer of marketplace Aura

SOUTH AFRICA – AURA, a security and medical response marketplace, has appointed David Myers as its Chief Operations Officer replacing Co-founder Ryan Green, who is moving into a new role at the company. Previously a General Manager and Regional Operations Lead at Uber for Europe, Middle East & Africa, Myers brings with him decades of experience that will stand him in perfect stead for this position. “Start-up platform COOs should be very detailed and have the desire, grit and ability to understand how everything within the business works at all…

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Anglo American appoints Duncan Wanblad as CEO to replace Mark Cutifani

SOUTH AFRICA – Mining company Anglo American has chosen a 54-year old South African, Duncan Wanblad, as the successor to outgoing CEO Mark Cutifani, who steps down in April 201 after nine years at the helm. Wanblad was appointed group director for strategy and business development at Anglo in 2016, and also served as CEO of its base metals business from 2013 to 2019 and has spent most of his working career within the Anglo family. He is also a non-executive director of De Beers and Kumba Iron Ore and…

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Fintech Kwara partners Lami Technologies to improve their product offerings

KENYA – Kwara, a fintech startup, has partnered with insurtech company, Lami Technologies, to provide Savings and Credit Co-operative Society (SACCO) members in Kenya with insurance products. The partnership will allow SACCO members to conveniently access innovative insurance products ranging from health, general, life, business, and property coverage through the Kwara platform. The collaboration aims to build the domestic insurance ecosystem and empower SACCO members to get insurance products seamlessly that meet their needs. The initiative is one of the first to broaden access to help close the insurance gap…

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AfricInvest, Tunisian businessman acquire majority stake in ISGA

MOROCCO – Private Equity firm AfricInvest has announced that it has made a new investment in Morocco’s education sector. The investor has acquired jointly with the Tunisian businessman Tawhid Chtioui, 80% of the Moroccan Higher Institute of Applied Engineering (ISGA). Shares were acquired from the Diouri family which was until now the majority shareholder of the ISGA group. The operation was announced by several local media in September, but no details were given about the buyer. With this participation, AfricInvest commits to support the development plan of the private education…

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HealthTech Bypa-ss raises US$1m funding round to expand its healthcare network

EGYPT – Bypa-ss, an Egypt-based HealthTech and Health Information Management company, has raised US$1 million in its newest fundraising round from Egyptian and foreign investors. The round also saw participation from Magic Fund, Acuity Ventures, Launch Africa, Plug and Play, and other regional and international VCs and Angel investors. Bypa-ss is currently looking to expand its client base and healthcare network, a process that is now possible thanks to recently obtained money, which coincides with the company’s recent rebranding. “With this investment coming in, we will be able to avail…

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Airtel completes sale of its Madagascar towers to Helios for US$51.7m

AFRICA – Airtel Africa has completed the sale of its telecommunications tower company in Madagascar to Helios Towers plc, an independent telecommunications infrastructure company in Africa, for the sum of US$51.7 million in gross consideration for the transaction. In a disclosure filed to the Nigerian Stock Exchange, the company noted that the proceeds from the transaction will be used to reduce group external debt and to invest in network and sales infrastructure in Madagascar. In March 201, Airtel announced its intentions to sell out its telecommunications tower companies in Madagascar…

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Siemens Gamesa completes turbine installation on Djibouti’s Goubet wind farm

DJIBOUTI – Wind turbine manufacturer, Siemens Gamesa, has announced the completion of the installation of 17 SG132 wind turbines with a capacity of 3,4 MW each on the 59 MW Goubet wind farm. The facility will be the first renewable energy installation in Djibouti and will almost double the country’s current installed power generation capacity once operational. Only half of Djibouti’s population has access to power. The country’s ambition is to become the first African country to operate entirely on renewable energies. Currently, 65% of the country’s energy supply is…

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MTN Group to sell shares of its Nigerian unit, expands its data and digital revenue

NIGERIA – MTN Group Ltd. plans to sell shares in the carrier’s Nigeria unit worth about 101 billion naira (US$244 million), continuing a plan to dispose of assets and pay down debt. Africa’s largest mobile-phone operator will offer 575 million shares in MTN Nigeria Communications Plc, which listed in Lagos in 2019, according to a statement on Thursday. The move is part of a broader plan to sell about 14% of the parent company’s holding in its largest and most profitable unit, the group said. The Nigeria sale comes as…

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