Tag Archives: funding
funding: Latest News
Peter Pedroncelli, 5:36 am
The World Bank Group has committed to supporting the growth of Africa’s digital economy with the launch of XL Africa, a business acceleration initiative that will provide a raft of benefits for the 20 most promising startups in sub-Saharan Africa over the next five months. African digital entrepreneurs will have an opportunity to be mentored by various global specialists, increase their visibility on the continent and receive access to corporate partners and investors.
Peter Pedroncelli, 11:22 am AFKI Original
The idea of funding a venture by raising money through many small contributions on the internet strikes a chord among Africans. It’s ubuntu at its finest. When Media 24 closed Ideas magazine in South Africa in 2016, former editor Terena le Roux took it upon herself to resurrect the publication. Thanks to support on social media, she launched a crowdfunding campaign via Thundafund. The money continues to come in, and she was able to relaunch the magazine.
Dana Sanchez, 6:42 pm AFKI Original
Large numbers of Chinese migrants have followed the money to Africa, but no one really knows how many — not even close. Estimates range from 250,000 to 2 million. Experts say informed guesses are anything from speculative to “very problematic.” It’s a problem because inaccurate claims about the Chinese migrant population can contribute to xenophobic election rhetoric and violence, says a migration researcher. In many countries, statistics on migration are incomplete, out of date or nonexistent. “Statistics are political,” a stakeholder said. The data may be out of date but it’s the only data we’ve got.
Dana Sanchez, 1:55 pm
The African tech space is not immune to the economic pressures faced by other sectors, but it is proving resilient. Significantly more African tech startups raised funding in 2016 than the previous year, but the overall amount of recorded funds declined, according to a new report. Fintech startups were the winning sector, receiving the most investor funding in Africa in 2016. The economic downturn played a part in that. Fintech in Africa is different, a stakeholder said. It’s building new infrastructure rather than disrupting an existing one.
Dana Sanchez, 12:12 pm
All the big geopolitical players are refining their transition strategies and post-Mugabe plans. Two transitional bailout plans — one from Western backers and another from China — are being refined in anticipation of the post-Mugabe era. The Western package underwrites Vice President Emmerson Mnangagwa’s ascendancy while the Chinese deal is largely designed to shore up First Lady Grace Mugabe and her Zanu PF faction’s political ambitions, according to local Zimbabwean media.
Dana Sanchez, 11:50 am
Israel is home to 130,000 Israeli citizens and their descendants who immigrated from Ethiopia. Money was never an issue when it came to helping Ethiopian Jews immigrate to Israel — until now. The Israeli Law of Return stipulates that all Jews can get citizenship in Israel. But with all the Ethiopian Jews supposedly already in Israel, paying for 9,000 more is turning out to be a tough sell. The speaking tour is meant to mobilize the American Jewish community to pressure Israel from the diaspora. The idea is to emphasize that “welcoming exiles is a Jewish issue rather than an Israeli issue,” a U.S. stakeholder said.
Dana Sanchez, 11:41 am
There has been criticism over funding African countries that are launching astronauts into space when two thirds of Africans live on less than $2 a day. African countries expanding their space programs include Nigeria, Ghana, Kenya, Gabon and South Africa. Poor countries want space programs more than rich ones do. “People strive to accomplish such things for reasons that are intuitive and compelling (but) not necessarily logical,” the Smithsonian reported.
Dana Sanchez, 5:26 pm
Young Nigerians are constantly looking for ways to generate income and make a living by establishing their own businesses. Boko Haram is filling a critical gap. Mercy Corps conducted interviews with 145 people including youths who resisted joining Boko Haram, and family members of those who did join. The report called for Nigeria to increase financial and business inclusion, support conflict-ridden communities and do a better job of reintegrating people who have fled Boko Haram.
Peter Pedroncelli, 7:17 am AFKI Original
Tech startups are all the rage these days, and Africa is not missing the boat in this regard, providing the tech sector with an abundance of great businesses geared at taking on challenges and finding innovative solutions to help people overcome these challenges. We decided to take a closer look at 8 things you probably didn’t know about funding for African tech startups.
Dana Sanchez, 4:23 pm
Luxembourg-based European Investment Bank, the E.U.’s nonprofit long-term lending institution, is investing in East Africa’s private sector with $121 million in funding. The goal is to support job creation and economic growth for entrepreneurs and small-to-medium businesses in Kenya, Tanzania, Uganda and Burundi.
- Real Estate