Big data startup Zenysis Technologies closes US$13m Series B round from SFFH

SOUTH AFRICA – Zenysis Technologies, a big data startup headquartered in San Francisco and Cape Town, has announced the closing of US$13.3 million Series B round led by the Steele Foundation for Hope (SFFH). Venture capital investor Peter Thiel and Silicon Valley venture capital firm 500 Startups also participated in the round. Zenysis raised a US$2.8 million seed in 2016…

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Mobility fintech startup Moove secures US$20m from BII for fuel-efficient automobiles purchase

NIGERIA – Moove, a mobility fintech startup, has received US$20 million four-year structured credit from The British International Investment (BII), UK government’s development financing agency. This investment will allow Moove to purchase and import brand new fuel-efficient automobiles into Lagos, which will then be leased to drivers who will work their way to asset ownership over a three to four-year…

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Fintech startup Sava Africa raises US$2m pre-seed fund to improve its platform

SOUTH AFRICA – Sava Africa, a spend management platform, has raised US$2 million in pre-seed funding to launch its beta in South Africa in Q3 of this year. The funding was from numerous Africa-focused investors, including Quona Capital, Breega, CRE Ventures, Ingressive Capital, RaliCap, Unicorn Growth Capital, and Sherpa Ventures. Sava also intends to start in Kenya in Q4 and,…

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Distribution platform Afrikamart raises US$850k seed fund for its expansion plan

SENEGAL – Afrikamart, a startup that is using digital technology to revolutionise the value chain of fresh agricultural produce, has raised US$850,000 in seed funding from BLOC Smart Africa, a fund managed by Bamboo Capital Partners, Orange Ventures, Launch Africa, and Teranga Capital. This funding will allow the company to continue improving its model and expand in Senegal. “Since the…

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BOCOM Petroleum secures US$52m from IFC to expand access of LPG

CAMEROON – BOCOM Petroleum SA, a leading Cameroonian importer and distributor of petroleum products, has secured €50 million (US$52.31m) financing package through a partnership with International Finance Corporation (IFC), a member of the World Bank. IFC will help BOCOM expand access to liquified petroleum gas (LPG) in Cameroon. The partnership is aimed at boosting access to cleaner and more reliable…

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iGas, CMG acquire minority stake in Mozambique’s pipeline company ROMPCO

MOZAMBIQUE – iGas, the South African gas development company, and Mozambique’s Companhia Mocambiçana de Gasoduto (CMG) have acquired a 30% equity stake in the 865km Republic of Mozambique Pipeline Company (ROMPCO) pipeline. Sold for R4.1 billion (US$251.06m), plus a deferred payment of R1 billion (US$61.23m) pending specified conditions are met by June 30, 2024, the shares bring iGas and CMG’s…

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Telecoms company MTN appoints new CEOs for Cameroon, Rwanda and Uganda

AFRICA – MTN Group, a multinational mobile telecommunications company, has announced the appointment of new CEOs for operations in Cameroon, Rwanda and Uganda effective 1 September 2022. MTN Rwanda CEO Mitwa Ng’ambi becomes CEO of MTN Cameroon, replacing Stephen Blewett, who is leaving the Group. “My thanks to Stephen for his valuable contribution to the MTN Group over the years…

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