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Daily Digest Wednesday, 16 September 2020

Funding In East Africa

Energy Startup Raises $3.3m Series A To Expand Into Malawi, Uganda

This could be gleaned from the number of successful funding that has taken place since the great lockdown. The latest on the list is South African pay-as-you-go (PAYG) solar energy startup Yellow which is embarking on an expansion drive which will see it berth in Malawi and Uganda. The US$3.3 million Series A funding round it successfully achieved will aid its scaling-up its footprint to over 100,000 customers in Malawi and Uganda. Read more

Funding In West Africa

Sahara Energy Pens $43m LPG Supply Deal in Cote d’Ivoire

Incorporated as SAPET Energy S.A., the joint venture company will handle the construction, operation, and maintenance of the ultra-modern LPG storage terminal. Upon completion, the facility will become the largest of its kind is Sub-Saharan Africa, and more importantly, support the government’s efforts to meet Cote d’Ivoire’s growing LPG demand. Read more

Latest News

South African Crypto Startup Luno Acquired By World’s Largest Blockchain Investor

Good news for founders and investors in leading South African cryptocurrency exchange, Luno. Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, has announced that it has acquired the company, 7 years after it was started. Read more

Helios Investment Partners Eyes South Africa

No detail was provided on the companies Helios is targeting but the firm says it plans investments in fintech, insurance, and the energy sector. According to Tope Lawani, Helios is also considering the possibility of imitating a Ghanaian liquefied natural gas project in South Africa to help close the energy gap. Read more

Opinion Corner

Entrepreneurship Is The Most Reliable Way To Build Wealth In Africa, Not Inheritance -The African Wealth Report

The report found entrepreneurship to be the most common option used by Africans to create wealth. No less than 148 of 265 people surveyed in Ghana, Kenya, Mauritius, Nigeria and South Africa they made their first million dollars and continued to make more thereafter from entrepreneurship. Read more

Nichole discussed the funding activity recorded on the GFA platform and deep dive into the blockchain industry in Africa.

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