Daba's #Africa Weekly is your go-to source for the latest and greatest #investment #news from the African continent. Each weekend, we bring you a comprehensive rundown of the biggest stories and trends shaping the world of finance and business in Africa.
Whether you're a seasoned investor or just starting out, this podcast will keep you informed and ahead of the curve.
Episode 2 - Covers market updates from Feb 6th 2023 to Feb 10th 2023.
Stories and Headlines
- Partech, a global VC firm reached the first close of its second Africa-focused fund at $263 million, making it the largest fund yet targeting the continent’s startups.
- Vantage Capital, one of Africa’s largest mezzanine fund managers, announced the final close on its fourth mezzanine fund with a total of $377 million in commitments secured from European and US-based investors and development finance institutions.
- Disrupt Africa released its African Tech Startups Funding report for 2022 this week and found that investment in Africa’s tech startup ecosystem passed the $3 billion mark for the first time last year.
- Flutterwave is launching in Egypt. The Nigeria-born pan-African payments giant facilitates cross-border transactions in at least 100 different currencies and has received two payment licenses in the north African nation, allowing it to operate as an official payment service provider.
- Elon Musk’s Starlink is forging ahead in Africa. The SpaceX-owned satellite internet service has already launched in the continent, debuting in Nigeria this month, and has the approval to set up in Rwanda. It plans to enter more than 20 African markets.
- Oikocredit partners with MyCredit to fund SMEs in Kenya as Nigerian digital bank Umba launches operations in the east African nation.
- OPEC Fund is backing the Africa Finance Corporation’s infrastructure funding with $50m while Untapped Global has launched a climate initiative for Africa in partnership with a consortium of partners.
- On startup funding, Egypt’s Gameball raised $3.5m to scale its CRM platform, and Yodawy, the region’s leading pharmacy benefits management platform, raised $16m in a Series B round co-led by several investors.
- Morocco-based Chari and Sand to Green bagged $1m each from Orange Ventures and Norway’s Katapult & Catalyst respectively while South Africa’s Sendmarc closed a $7m Series A funding round.
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Disclaimer: The information in this recording is for information purposes only and does not constitute the giving of investment advice by Daba or any of its affiliates.
