AD Ports signs MoU with Egypt for new terminal in Safaga Port

EGYPT – AD Ports Group has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian ministry of transportation, for the development and operation of a multipurpose terminal in Safaga Port. Under the MoU, AD Ports Group will explore investment opportunities and conduct feasibility and local market studies related to developing and operating a multipurpose terminal in Safaga Port, with both parties benefitting from the exchange of expertise and best practices. The MoU aims to support the growth of the Middle…

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Global communications company launches its RTE in Africa

GHANA – Viasat Inc., a global communications company, has announced the launch of its first Real-Time Earth (RTE) facility in Africa, located in Accra, Ghana. Viasat worked in partnership with the Ghana Space Science and Technology Institute (GSSTI), a government-based institution under Ghana Atomic Energy Commission (GAEC), It is focused in coordinating all space, science, technology and related activities in Ghana, to bring new space opportunities and jobs to the region, while expanding Viasat’s ability to deliver critical earth observation and remote sensing data on-demand around the world. With this…

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Nigeria’s Helium Health acquires Qatar’s doctor booking platform Meddy

NIGERIA – Helium Health, a health IT startup, has acquired Meddy, a Qatar- and UAE-based doctor booking platform, for an unknown sum. The purchase, according to Helium Health CEO Adegoke Olubusi, is unique in that it brings together two regions that rarely collide in technology: Africa and the Gulf Cooperation Council (GCC). “You don’t have a lot of people who can provide a suite like ours in the GCC. If they do, they’re doing it at a price point that’s so high that they’ve already priced out the market in…

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CIMAF secures investment to boost its production of cement in West Africa

WEST AFRICA – IFC, Proparco, the French Development Institution and Emerging Africa Infrastructure Fund (EAIF) are partnering with Ciments de l’Afrique (CIMAF), a subsidiary of Omnium des Industries et de la Promotion (OIP). The partnership is meant to help the company boost its production of cement in West Africa to meet growing demand for housing and infrastructure in the region. IFC arranged a €161.25 million (US$185.01m) financing package for CIMAF, which includes a loan of €92.5 million (US$106.13m) from IFC’s own account, a parallel loan of €33.75 million (US$38.72m) from…

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Flutterwave in aggressive Africa expansion with creator platform Disha acquisition

AFRICA – Flutterwave, the Silicon-Valley based and Pan-African focussed payments company has acquired Nigeria creator platform Disha in an undisclosed deal but is expected to be a six-figure amount. Disha is a platform allowing digital creators to curate and receive payments from their content and portfolios worldwide. Early 2021, Disha made an announcement of its closing down for unclear reasons. Under the terms of the deal terms, Disha will carry on operating as a separate brand and the start-up’s 20,000 users will earn value from their digital content using Flutterwave’s pay-out and…

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20 minutes delivery startup Rabbit closes US$11m pre-seed funding

EGYPT – Rabbit, a clean-tech transportation company, has announced that they have closed a new round of pre-seed funding of US$11 million, a record high for the Middle East & Africa regions. The round saw participation from the international investor base include Global Founders Capital, Foundation Ventures, Raed Ventures, MSA Capital, and Goodwater Capital. Ahmad Yousry, Walid Shabana, Ismail Hafez, and Tarek El Geresy founded Rabbit this year and it took them just 130 days to get from ideation to first order. “Consumer expectations have evolved significantly over the past…

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Namibia awards US$9.4bn green hydrogen tender to HYPHEN Energy

NAMIBIA – The government of Namibia has awarded HYPHEN Hydrogen Energy preferred bidder status for the development of the country’s first large-scale vertically integrated green hydrogen project in the Tsau //Khaeb national park. HYPHEN is a Windhoek-based joint venture between British company, Nicholas Holdings Limited, and South African renewables company, ENERTRAG South Africa, a division of German energy company, ENERTRAG. The project, worth an estimated US$9.4 billion, will ultimately produce 300,000 tons of green hydrogen per year for regional and global markets, either as pure green hydrogen or in derivative form (green ammonia). The…

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SEACOM appoints Tejpal Bedi as MD and Regional Head of Sales for ENEA region

ENEA – SEACOM, a Pan-African telecommunications services provider, has announced the new appointment of Tejpal Bedi to the role of Managing Director (MD) and Regional Head of Sales for the ENEA region, effective from 1 November 2021. According to a statement from the firm, Tejpal Bedi joins SEACOM with a wealth of experience in leading and driving high performing organisations within the telecommunications and ICT sectors in East Africa. Before joining SEACOM, he was MD of CloudSmiths East Africa, a position he has held since 2015. Prior to this, he…

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Kenya’s edtech startup Craydel raises US$1m for Africa expansion

KENYA – Education technology startup Craydel has announced it has raised US$1 million to expand outside of Kenya to serve more students on the continent. The funding will also be used to improve its search and recommendation engine, enhance its proprietary online career resources and technology. Founded by ex-WPP Scangroup Executive Manish Sardana, John Nguru, and Shayne Aman Premji, Craydel the web-based platform allows working professionals and students to select courses from a large pool of local and international universities. Users are also able to compare the cost of studying…

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