Ugandan minibus ridesharing service Easy Matatu secures investment from Renew Capital

UGANDA – Renew Capital, an impact investment firm focused on developing small and medium-sized enterprises (SMEs) in Africa via its network of investors, the Renew Capital Angels, has made a new investment in Easy Matatu, a Ugandan minibus ridesharing service. The funding will be used to expand Easy Matatu’s end-to-end technological platform, which allows customers to reserve a seat on…

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KCB Bank inks financing deal with BasiGo for Electric buses

KENYA – KCB Bank Kenya, a financial service, and BasiGo Ltd, Kenyan electric vehicle start-up, have announced a partnership that will see customers access financing to buy electric buses. KCB customers will be able to access financing to buy BasiGo electric buses. KCB SAHL Banking customers, who under the Shariah-compliant banking model, will also be able to purchase the electric…

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Mobility 54 invests in transport companies Fleetsimplify and Drive to Own

AFRICA – Mobility 54 Investment SAS, the corporate venture capital subsidiary of Toyota Tsusho Corporation and CFAO SAS, has invested in Fleetsimplify Inc. and Drive to Own Pty Ltd. Fleetsimplify operates a management platform for the owners of ride-hailing business vehicles in Kenya, while Drive to Own engages in the vehicle finance business in South Africa. The two companies were…

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B2B trucking marketplace Trella secures debt facility from Contact Financial Holding

EGYPT – Egyptian B2B trucking marketplace Trella has secured a significant debt facility from Contact Financial Holding, the leading Egyptian non-banking financial services company, to expand its business in a number of ways. The two companies are partnering up through four different subsidiaries within Contact – Contact Factoring, Contact Leasing, Contact Credit, and Contact Creditech. Each agreement provides a tailored…

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Logistics company DHL Global launches US$6.8m transshipment hub and head office

SOUTH AFRICA – DHL Global Forwarding, an international air, ocean, and road freight services provider, has launched a new US$6.83 million facility (R127 million) transhipment hub and head office in Johannesburg, South Africa. The sustainable, primarily solar-powered complex is located in the Sky Park Industrial Estate it provides easy access to OR Tambo International Airport. The facility’s opening marks a…

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E-commerce platform Jumia launches warehouse and logistics network facility in Nairobi, Kenya

KENYA – E-commerce platform, Jumia has launched a new integrated warehouse and logistics network facility in Nairobi, Kenya, to enhance the consumers’ shopping experience by reducing delivery times and cutting costs. The 11,000 metres facility will transform Jumia’s logistics operations by providing increased storage capacity for scale-up of warehouse operations and also provide converged services. Located along Mombasa Road, the…

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Algerian logistics platform GroDesto raises US$1.4m in public offering

ALGERIA – GroDesto, Algerian logistics platform, has announced that it has successfully raised 200 million DA (US$1.4M) through a public offering in order to become a joint stock company (SPA). GroDesto is an initiative to enable the distribution of consumer goods in Algeria. The startup consists of a mobile application and a website for logistics distribution. The project was awarded…

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Bidorbuy, uAfrica join forces to launch new e-commerce platform

SOUTH AFRICA – Online marketplace Bidorbuy has joined forces with e-logistics firm uAfrica to form Bob Group, a new e-commerce platform with a special focus on small businesses. Bob Group, a new merchant- and consumer-focused company, will offer everything e-commerce to all local consumers and companies operating online, whether they are looking to sell, buy – or both. Bidorbuy says…

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Automotive manufacturer Stellantis invests in Africar Group to launch its services in Ivory Coast

IVORY COAST – Stellantis, a multinational automotive manufacturing corporation, has invested in the Africar Group, the first automotive marketplace in Africa, to launch Auto24 activities in Abidjan, Ivory Coast. Auto24 is a direct-to-consumer used car company that brings solutions to help ensure transactions are conducted in a transparent and secure way. With the African population set to reach 1.7 billion…

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Mobility company Abou Ghaly Motors secures US$10m loan from EBRD to expand its business

EGYPT – Abou Ghaly Motors (AGM), a provider of integrated mobility solutions, has secured a US$10 million loan from EBRD to purchase 250 electric vehicles with extended range (REEV) for its cab services. EBRD is backed by a guarantee from the European Fund for Sustainable Development (EFSD), the financial arm since 2016 of the European Union’s (EU) External Investment Plan…

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