E-commerce platform Kasha joins Mastercard’s micro-credit digital lending platform

KENYA – Kasha, the purpose-driven digital retail and distribution platform, has joined Jaza Duka, Mastercard’s micro-credit digital lending platform in Africa. The program, launched in partnership with Unilever and KCB Bank Kenya has now expanded to include an additional 5000 Micro Small and Medium- Enterprises (MSMEs) through Kasha. The program aims to help micro-entrepreneurs overcome cash constraints that limit their…

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Inter-City Transport and Logistics startup T40 Technologies raises pre-seed funding

NIGERIA – T40 Technologies, a technology firm changing Nigeria’s intercity transportation and logistics market, has raised a pre-seed round of funding. Reflect Ventures led the round, with Startup Wise Guys, Roselake Ventures, and select angel investors also participating. “T40 makes it simple for Africans to book transportation or ship parcels from city to city in Nigeria and from Nigeria to…

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Financial service group HFC partners Britam to launch education insurance plan

KENYA – Housing Finance Group (HFC), through its bancassurance intermediary, has partnered with Britam Holdings Plc, an investment holding company, to launch a convenient and flexible education policy dubbed Elimu. The product is set to enable parents to provide an uninterrupted quality education for their children with high returns, flexible terms, and guaranteed payouts. The education plan will be exclusively…

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MIGA issues US$98.3m guarantee to boost sustainable refinancing of solar power plants in Egypt

EGYPT – Virtuo Finance has secured US$98.3 million guarantee from Multilateral Investment Guarantee Agency (MIGA), an international financial institution, to boost the sustainable refinancing of six operational solar power plants in Egypt’s Benban Solar Park (Power Plants), the largest photovoltaic (PV) solar park in Africa. The refinancing will reduce financial costs, improve overall financial viability, and generate cost savings to…

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Former Mastercard Vice President Nile Younis joins Klasha as new chief commercial officer

NIGERIA – Klasha Inc, a technology company transforming cross-border African commerce, has announced the appointment of Nile Younis as Chief Commercial Officer. The appointment follows Klasha’s recent announcement of a US$4.5 million seed funding round backed by Amex Ventures – its first investment in an African-focused startup – and Global Ventures, a leading MEA-focused venture capital firm. “We are pleased…

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Edtech startup Kukua raises US$6m in Series A round to establish its content

KENYA – Kukua, a Nairobi-based educational entertainment startup, which is the creator of the cartoon superhero brand Super Sema, has raised US$6 million in a Series A round. The round was sponsored by Tencent Investments and Italy-based VC Alchimia. Other investors in the round include EchoVC, FirstMinute Capital, and Auxxo Female Catalyst. Kukua says the financing will help it continue…

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Qatar Airways partners South Africa’s Airlink to expand in the country

SOUTH AFRICA – Middle-Eastern airline Qatar Airways has signed an agreement with South Africa’s Airlink to expand its operations in South Africa. The codeshare agreement will offer travellers more choice and improved connectivity between 45 destinations in 12 countries across southern Africa, Airlink said.  The group added that travellers will be able to purchase connecting flights on both airlines using…

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Home cleaning service startup SweepSouth launches its services in Nigeria

NIGERIA – SOUTH AFRICA-based SweepSouth, a home cleaning service startup, is looking to hijack some customers from its competitors in Nigeria by offering quality services. Launched in 2014, SweepSouth allows people to book home cleaning services at affordable prices and connects them with cleaners they call SweepStars, who are carefully vetted and are professionals with extensive experience in home cleaning.…

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Egypt’s fintech fund Disruptech Egypt Fund I receives investment from AXIAN Group

EGYPT – The AXIAN Group has joined Disruptech Egypt Fund I, a venture capital fund focused on supporting technology-enabled firms and Fintech startups in Egypt. Disruptech and the AXIAN group share the vision and belief that fintech can bring efficient solutions to market that effectively address social issues. AXIAN’s commitment to Disruptech supports its overall strategy, which posits that advances…

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Mining firm Base Titanium to invest US$28m capital in new mining site

KENYA – Australian mining firm Base Titanium has announced plans to make a capital expenditure of KSh3.3 billion (US$28.02m) at a new mining site on its Kwale operation, extending the life of the venture by 13 months to December 2024. Its Australian-based parent firm said in a trading update that mining at the new site, known as Bumamani, will commence…

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