Venture Capital articles

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AFC’s $900 Million Power Infrastructure Project in Ghana Gets Underway

AFC’s $900 Million Power Infrastructure Project in Ghana Gets Underway

In a bid to reaffirm its commitment to President Obama’s Power Africa initiative, the Africa Finance Corporation (AFC) today announced the ground-breaking of the USD$900 million Kpone Independent Power Project (Kpone IPP) in Ghana.

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Tigo Opens Applications for 2nd Cohort of think Technology Incubator in Rwanda

After a first successful intake, Rwanda’s first tech incubator announced today its call for applications for the 2nd cohort. think calls for high-potential, Africa-focused technology companies to apply for a 6-month accelerator program in Rwanda. In this second round, think seeks to support exceptional tech startups to develop innovative digital solutions for Africa. Backed by

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VC4Africa Says $26.9 Million Invested In African Startups In The Past Year

New research by startup funding platform VC4Africa shows considerable progress made by early-stage growth companies across Africa. This is an annual study on the various startups across Africa and the study aims to gather facts and data about startups in Africa in relation to funding and growth. The VC4Africa 2015 report shows an increasing number

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JUMIA Receives $150 Million In New Round Of Funding

JUMIA has received a new round of funding amounting to €120 million (about $150 million USD) from its existing shareholders — MTN, Millicom and Rocket Internet — through the Africa Internet Group (AIG) to further strengthen the company’s position as the leading online retailer in Africa. With this latest cash injection, it brings the company’s

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What Attracts Investors to Startups? – A Comprehensive List

Yesterday, we published  post with this same title, but with an in-depth explanation on what seasoned investors want from startups. Henry Wong’s answer on the question, which appeared on Quora, was very explanatory, but David S. Rose’s answer, which was voted best answer, is a compacted list of the specific requirements. A check list, so

AMPION Venture Bus Africa

MTN, SAP, Microsoft, Inmarsat and Merck sponsor AMPION Africa

AMPION has announced that four leading global IT, healthcare and satellite giants are joining forces with the NGO to enable entrepreneurial talent in Africa to develop innovative solutions on the continent by making best use of the power of mobile technology. African mobile phone network provider, MTN as well as SAP and Microsoft will financially support AMPION’s 2014

FirstBank partners MoneyGram to launch outbound money transfer service from Nigeria

Since money transfers began in Nigeria in 1998, consumers in the country have only been able to receive funds via MoneyGram’s money transfer services. Today, First Bank of Nigeria Limited and MoneyGram International announced the launch of outbound remittance service in Nigeria that would enable customers to send funds to family and friends around the globe

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Omidyar Network Grants 65 Million Naira To Nigerian Social Enterprise, BudgIT

Omidyar Network announced today that it has awarded a grant of up to $400,000 USD (about 65 million NGN) to BudgIT, a Lagos-based social enterprise incubated by the Co-Creation hub that promotes civic participation and fiscal transparency in Nigeria. According to the philanthropic investment firm, the two-year grant will be used to expand the amount

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ALN Invites Applicants To Its Accelerator Program

African Leadership Network (ALN) is inviting interested applicants to its accelerator program which starts in January 2015. The African Leadership Network is all about developing and promoting African Entrepreneurs through its annual pan-African and regional gatherings which has been aimed to catalyze prosperity in the continent. Hence, the formation of the African Leadership Network Ventures,

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Funda Solva Wants To Fund You Through Crowdfunding

In this year, we have witnessed a small surge in the crowdfunding space in Africa and Nigeria. The likes of PushandStart and JumpStart Africa have commenced operations and are now welcoming ideas and submissions. Now it seems one more has entered the fray. Funda Solva (Funder Solver) is a funding platform for business startups and creative projects.

South Africa’s Naspers acquires 100% stake in Turkey’s e-commerce giant, Markafoni

South African media giant, Naspers has now acquired 100% stake in Turkish e-commerce giant, Markafoni in a deal said to be one of the biggest in the Turkish Internet industry. Back in July 2011, Naspers acquired almost two-thirds of the company at a reported $200 million valuation, according to Tech Europe.  Markafoni was founded in

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Nigerian-Owned Online Video Marketplace, PublicVine Receives Around $10 Million “Series A” Investment

US-based online and mobile social video marketplace, PublicVine founded by Nigerian entrepreneur, Nam Mokwunye, has received “Series A” investment of around $10 million as it plans to commence its global commercial launch in June 2014.

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