Mobility fintech startup Moove secures US$16m to expand its operations

AFRICA – Moove, a mobility startup that provides revenue-based car finance and financial services to mobility entrepreneurs, has secured a £15 million (US$16.73m) fund from Emso Asset Management to expand its operations in the United Kingdom. The African startup has a growing worldwide client base of mobility entrepreneurs and just started in the United Kingdom. Its first foray into Europe.…

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Family Bank to pre-finance purchase of mobility start-up BasiGo’s electric buses

KENYA – Family Bank in Kenya, a commercial bank, is teaming up with mobility start-up BasiGo, to pre-finance the purchase of its electric buses. Family Bank wants to support mobility start-up BasiGo in promoting sustainable transportation, as part of its CSR (Corporate Social Responsibility) approach. The partnership will offer BasiGo’s electric bus customers a flexible financing option that includes covering…

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Trucking marketplace Trella secures debt facility to support its operational growth

EGYPT – Trella, a B2B trucking marketplace, has secured a further significant debt facility from ALMA Sustainable Finance (ALMA) and the US International Development Finance Corporation (DFC) to support the growth of its operations. ALMA’s debt financing, backed by the DFC guaranty, will support the expansion of Trella’s platform for MSME truckers in lower-middle-income countries Egypt and Pakistan, where MSMEs…

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KCB Foundation & UNITAR partner to promote electric motorbikes for boda-boda riders in Kenya

KENYA – KCB Foundation, a foundation by KCB Bank Group, and the United Nations Institute for Training and Research (UNITAR) are set to invest KSh38.7 million (US$0.32m) to promote the use of electric motorbikes by bodaboda riders in Kenya. The pilot phase will kick off in Nairobi, Kajiado and Machakos counties, and will see 150 motorcycle riders onboarded into the…

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Twiga Foods partners with Isuzu, NCBA to beef up logistics operations across the region

KENYA – Kenyan-based technology food distribution platform, Twiga Foods, has entered into a strategic partnership with automobile manufacturer Isuzu EA and commercial bank NCBA Bank to boost affordability and safe delivery of fresh produce to retailers across the region. The partnership that seeks to see up to 300 Isuzu trucks being released into the marketplace in phases, has flagged off…

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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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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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