Koolboks secures US$500k investment from All On to expand employment prospects

NIGERIA – All On, a Shell-funded impact investing company, has invested US$500,000 investment in Koolboks, an innovative refrigeration solutions company that offers cheap cooling services to small companies and households, with a focus on expanding women’s income and employment prospects. Koolboks was founded in 2018 as a technology-enabled renewable energy refrigeration firm that offers cost-effective cooling services to business owners…

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British International Investment, Norfund, Scatec invest US$200m in African hydropower

AFRICA – The UK government’s development finance institution British International Investment (BII) plans to invest US$200 million in a joint project with Norway’s Norfund to construct at least three hydroelectric power projects in Africa. The two institutions will equally split a 49% shareholding in a joint venture with Norway’s Scatec ASA for the projects, BII said in a statement. These…

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AI tech startup Synapse Analytics raises US$2m pre-series A funding round

EGYPT – Synapse Analytics, an Egyptian AI technology startup, has raised US$2 million in a pre-series A funding round led by venture capital firm Egypt Ventures with participation from Cloudera’s founder Amr Awadallah, Africa Platforms’ founder Simon Rowlands, and existing investors. The new financing will expedite and broaden Synapse’s efforts to assist firms in adopting AI. The company currently supports…

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Healthtech startup Healthtracka secures US$1.5m seed fund to advance digital diagnostics capabilities in Africa

NIGERIA – Nigeria’s Healthtech startup Healthtracka has secured US$1.5 million in seed funding to power digital diagnostics and empower healthcare providers to reach their customers where they are comfortable in an effort to improve patient outcomes in Africa. The seed funding round was co-led by Africa-focused early-stage VC Ingressive Capital and US-based venture fund Hustle Fund with participation from Alumni…

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Payments platform DKK Partners announces its expansion to Africa

AFRICA – DKK Partners, an international payment platform that enables effective foreign exchange and payment services, has announced a major expansion in Africa. This announcement comes after the company’s revenues surpass £63 million (US$76.80m), up from £3 million (US$3.66m) the previous year. The record growth, fuelled by high demand for DKK’s suite of services, including FX risk management, access to…

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aYo Ghana CEO gets additional role to his title as the company taps into Uganda and Zambia’s market

AFRICA – African insurtech aYo Holdings, which is 100% owned by telecommunications giant MTN, has handed the chief executive of its Ghana operation an additional role within the aYo Group as it looks to drive rapid growth across the continent. The CEO of aYo Ghana, Francis Gota will now also oversee the group’s business development for Uganda and Zambia. In…

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Anergi Group, Harith General Partners launch renewable energy adoption fund

AFRICA – Harith General Partners, an infrastructure investment firm, has partnered with and Anergi Group, an African power provider, to establish the US$300 million Pan-African Renewable Energy Fund (PAREF) to accelerate renewable energy adoption across Africa. PAREF’s investments will seek to accelerate the execution of renewable energy projects on the continent through innovative development and financing mechanisms targeted at greenfield…

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Fintech startup Thepeer secures US$2m seed fund led by Raba Partnership

NIGERIA – Thepeer, an African tech infrastructure startup connecting businesses’ wallets, has secured a US$2.1 million seed fund in a round led by the Raba Partnership. Other investors joining the round include Rallycap, BYLD Ventures, Timon Capital, Musha Ventures, Sunu, and Uncovered Fund, as well as leading African fintechs Chipper Cash and Stitch. This round of funding comes less than…

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