Morocco’s CGEM elected to Alliance of Francophone Employers Board

MOROCCO – General Confederation of Moroccan Enterprises (CGEM) President Chakib Alj has been elected Secretary-General and member of the Executive Board of the Alliance des Patronats Francophones (APF).  The CGEM was represented at this ceremony by its vice-president, Mehdi Tazi, who proceeded with the presidents of employers of 25 countries, the official signing of the statutes establishing this alliance. The…

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Egyptian fintech startup PayMint raises 7 figure seed round to expand operations

EGYPT – PayMint, the Egypt-based fintech startup has raised undisclosed seed funding of 7 figures to support expansion plan in fintech and SMEs’ financial inclusion in the Egyptian market. The seed funding round was led by AUR Fintech- a subsidiary of AUR Capital and the startup will use the fund to expand the scope of its services to include more…

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Bboxx partners Startimes to provide access to TV services for its offgrid customers

KENYA – Bboxx Kenya has entered a partnership with Pay Television Company StarTimes media that will see its off-grid customers across the country access digital television services. Bboxx Solar which provides pay-as-you-go solar home system services to over 500,000 Kenyans through affordable payment plans, will now offer its customers the option to bundle the brand’s Mdosi TV package. The package…

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Royal Air Maroc relaunches Casablanca-Miami route after Covid-19 scare

MOROCCO – Royal Air Maroc (RAM) has decided to relaunch the Casablanca-Miami air link with the first flight expected on April 10 after the Covid-19 scare. Moroccan carrier RAM will operate a weekly flight between its base in Casablanca-Mohammed V and Miami airport. Flights will be run on a Boeing 787-8 aircraft with a capacity of 18 passengers in Business…

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Ecommerce platform Tushop raises US$3m pre-seed funding to scale its product offering

KENYA – Tushop, a Kenya social-commerce platform that enables group-buying of fast-moving consumer goods (FMCGs) has raised US$3 million in pre-seed funding. The round was led by 4DX Ventures with participation from JAM Fund, Breyer Capital, Chandaria Capital, TO Ventures, Golden Palm Investments, FirstCheck Africa, and DFS Lab. Wasoko (formerly Sokowatch) also joined to make their first strategic institutional investment.…

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Best Health acquires majority stake in Saïss Environnement

MOROCCO – Best Health, a national operator working in the field of medical and surgical equipment distribution, has taken a majority stake in Saiss Environnement.  Saiss Environnement is a company specializing in the collection, management, and treatment of medical and pharmaceutical waste. The acquisition is part of its sustainable development strategy and will enable Best Health to provide appropriate medical…

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Fintech Sticitt secures oversubscribed seed round led by Nustate Capital Ventures

SOUTH AFRICA – Sticitt, a fintech startup, has secured an oversubscribed round of seed funding to help it continue to grow. The investment was from a consortium led by Nustate Capital Ventures in a seed round that was oversubscribed by 1.5X. The investment consortium members include Grindstone Ventures, Nustate Capital Ventures, Hlayisani Capital, Realm Digital, and GalloProvincialis. Co-founded in January…

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Payment service provider i2c partners with Visa for fintech processing in MENA region

MENA – i2c Inc, a global provider of highly-configurable digital banking and payments solutions, has announced its partnership with Visa, as a fintech processor in the MENA region. The partnership will allow fintech in the region to access Visa’s global network as well as i2c’s agile issuing and processing platform by tapping into the combined companies’ suite of digital-first solutions…

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Fintech Churpy raises US$1m seed round for its expansion plan

KENYA – Churpy, a fintech offering an integrated receivables management product, has announced a US$1 million seed round led by Unicorn Growth Capital. Also participating were Antler East Africa, Nairobi’s business angel network and a group of Rally Cap LPs, including senior executives from Stripe. The funds will be used to support expansion to Egypt, Nigeria and South Africa. They…

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UK invests US$39M to back Africa’s ambitious continental free trade initiative

AFRICA – UK has launched a programme of up to US$39.04 million to support negotiations and implementation of the African Continental Free Trade Area (AfCFTA). The AfCTFA is expected to lift 30 million people out of extreme poverty, create jobs, and provide new commercial opportunities for businesses across Africa and the UK. It comes as Wamkele Mene, Secretary-General of the…

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