News
Basketball Africa League announces seven host cities for Inaugural Season     |     Nigeria Based Mobile Solutions GONA Raises Multi-million Dollar Fund For Expansion     |     Kenya Has Just Sealed Its First Oil Export Deal Worth Sh1.2 Billion     |     Zimbabwe Set To Give Foreign Investors 100% Equities In Local Companies     |     Sparkle Is Nigeria’s Latest One-Stop Shop For Retail Businesses Launched By Former Diamond Bank MD     |     Gambia Now Has The Latest Angel Investors Network in Africa     |     African Development Bank and South Sudan Recruit Pan-African Centurion Law Group to Strengthen Capacity in the Oil & Gas Sector     |     South African e-health Startup Healthcent Raises Funding Round for Expansion     |     Free WiFi and Online Entertainment On Public Buses? That’s What SWVL Just Launched in Kenya     |     MTN gets mobile money licence in Nigeria     |    
Menu

Category: News

Basketball Africa League announces seven host cities for Inaugural Season

August 4, 2019
Basketball Africa League

The Basketball Africa League (BAL) today announced Cairo (Egypt), Dakar (Senegal), Lagos (Nigeria), Luanda (Angola), Rabat (Morocco) and either Monastir or Tunis (Tunisia) as the host cities where the inaugural BAL regular season will take place and Kigali (Rwanda) as the host city for the first-ever BAL Final Four and BAL Final.

Additionally, the BAL announced NIKE and Jordan Brand will be the exclusive outfitter of the new professional league featuring 12 club teams from across Africa and scheduled to begin to play in March 2020.

The announcements were made by BAL President Amadou Gallo Fall during a reception at the Musée des Civilisations Noires in Dakar in the presence of FIBA Secretary General Andreas Zagklis, FIBA Africa Executive Director Alphonse Bilé, NBA Commissioner Adam Silver and NBA Deputy Commissioner Mark Tatum, along with current and former NBA and WNBA players.

Basketball Africa League

“Today’s announcements mark another important milestone as we head into what will be a historic first season for the Basketball Africa League,” said Fall. “We now have seven great host cities where we will play and our first partnership with a world-class outfitter. We thank our first partners NIKE and Jordan Brand for supporting us on this journey and ensuring our teams have the best uniforms and on-court products.”

Beginning in March 2020, the six cities will host a regular-season that will feature 12 teams divided into two conferences, with each conference playing in three cities. The regular season will see the 12 teams play five games each for a total of 30 games, with the top three teams in each conference qualifying for the playoffs. The six playoff teams – the “Super 6” – will play in a round-robin format to determine the four teams that will advance to the BAL Final Four and BAL Final in Kigali, Rwanda in late spring 2020. The BAL Final Four and BAL Final will be single-elimination games.

NIKE and Jordan Brand will outfit the league’s 12 teams with official game uniforms, warmup apparel, socks and practice gear, with six teams featured in NIKE and the other six teams in Jordan Brand. The collaboration with NIKE and Jordan Brand marks the BAL’s first partnership.

The announcement about the NBA and FIBA’s launch of the BAL, which would mark the NBA’s first collaboration to operate a league outside of North America, was made at the NBA All-Star 2019 Africa Luncheon in Charlotte, North Carolina on Saturday, Feb. 16.

The NBA and FIBA also plan to dedicate financial support and resources toward the continued development of Africa’s basketball ecosystem, including training for players, coaches and referees, and infrastructure investment.

Additional details about the BAL will be announced at a later date.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Nigeria Based Mobile Solutions GONA Raises Multi-million Dollar Fund For Expansion

Gona

More Africa-focused startups are raising funds to either expand or grow their businesses this year. Apart from Opay’s recent funding round, GONA, the Chinese startup that offers cashless bus services and payment solutions with a focus on the Nigerian market is the latest to join the bandwagon.

This is remarkable because it shows that the African startup ecosystem is gradually fusing into the global startup ecosystem.

Gona

Here Is The Deal

  • News website, c.m.163.com says the Chinese-led investment came from Crystal Stream Capital, UnityVC and Shaka VC.
  • According to Liu Xiaojun, the founder and CEO of GONA the round of financing will be used for team building and product technology upgrades.
  • This new investment will further allow GONA to employ more locals to help develop the product and expand its popularity.

“We will try to employ the best people to help the most Lagosians have a better daily commuting experience,” says co-founder, Noah Gu.

  • Larry, a partner at ShakaVC, notes that the minibus scene provides more efficient and convenient travel services for hundreds of millions of Africans, and the market potential is huge. 
  • As the first Chinese fund to focus on early African investment in Africa, ShakaVC will support the development of GONA in local resources, experience, and capital.
  • GONA boasts of thousands of active users and nearly 10,000 transactions every day.
GDP From Transport in Nigeria increased to 288637 NGN Millions in the first quarter of 2019 from 277338.67 NGN Millions in the fourth quarter of 2018. GDP From Transport in Nigeria averaged 198649.70 NGN Millions from 2010 until 2019, reaching an all-time high of 288637 NGN Millions in the first quarter of 2019 and a record low of 144848.60 NGN Millions in the first quarter of 2010.

What GONA Does

  • GONA is a mobile payments platform with primary operations in Lagos. 
  • GONA is enabling cashless payments on ‘informal transit’ public buses in Lagos and is also working to solve the pains of inconvenience in the local travel market. This it is doing by using technical means to improve operational efficiency.

‘‘The Rains Are Here, You deserve a less stressful bus ride to work. Pick up your smartphone and purchase a ticket on GONA, monitor the closest buses to you and hop onto one. Pay for your ride in style, avoid the chaos of “No Change”, Gona tweeted.

  • The startup recently announced the completion of a multi-million dollar Pre-A round of financing.
  • Even though GONA is headquartered in China, Lagos remains its primary focus. In Lagos, GONA has fully completed localization, with roll-out in certain routes within Lagos, one of which is Yaba to the University of Lagos (UNILAG) campus.

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Kenya Has Just Sealed Its First Oil Export Deal Worth Sh1.2 Billion

August 3, 2019
Kenya oil

Time for early investors and startups in Kenya to leech onto the country’s blossoming petroleum industry! It is now safe to say that Kenya is now an oil-producing nation in the world, the only nation in the whole of East Africa, after South Sudan to actually export oil.

The country has just sealed its first oil export deal worth Sh1.2 Billion ($11.6m). With 60,000 to 100,000 barrels per day, Kenya is set to displace either Ghana, Brunei or Chad in the ranking of oil-producing and exporting countries by production capacity.

“We are now an oil exporter. Our first deal was concluded this afternoon with 200,000 barrels at a price of 12 million US dollars. So, I think we have started the journey and it is up to us to ensure that those resources are put to the best use to make our country both prosperous and to ensure we eliminate poverty,” Kenyan President Uhuru Kenyatta said

Here Is The Deal

  • This deal which is the first-ever in the whole of Kenya’s history saw Kenya selling off 200,000 barrels of oil at a price of Sh1.2 billion ($12m).
  • Kenya discovered commercial oil reserves in its Lokichar basin in 2012 and Tullow Oil estimates the basin to contain an estimated 560 million barrels in so-called 2C proven and probable oil reserves.
  • Tullow has said this would translate to 60,000 to 100,000 barrels per day of gross production.
  • Tullow Oil is a multinational oil and gas exploration company founded in Tullow, Ireland with its headquarters in London, United Kingdom. It has interests in over 150 licenses across 25 countries with 67 producing fields and in 2012 produced on average 79,200 barrels of oil equivalent per day.
Source: Statista 2019; Oil Production in Africa from 2001 to 2018 (in 1,000 barrels per day) 
  • The government and Tullow Oil had expected to start exporting crude under the Early Oil Pilot Scheme (EOPS) by June this year but that appeared unlikely with the company only having trucked about half of the amount that will be needed for the first shipment.
  • In May, Kenya’s Ministry of Petroleum said about 88,000 barrels of oil had so far been trucked to Mombasa and was targeting to accumulate 200,000 barrels that would form the first export cargo.
  • The oil that has been ferried to Mombasa was produced in 2015 during an extended well testing exercise. By end of March, Tullow had shipped all the oil stored in Lokichar and has been setting up an Early Production Facility, which will produce 2,000 barrels a day.

Currently, major oil producers in Africa include Nigeria (0.0449), Libya (0.0101), Egypt (0.0418) and Algeria (0.0913), producing a total of 0.1881 trillion cubic feet of gas cumulatively which is 5.4 percent of the world’s total production.

In 2018, Africa’s total oil production amounted to around 8.19 million barrels of oil per day.

Africa’s production rate is, however, decreasing at a rate of 1.1 percent per annum. Africa’s consumption rate is at 138.2 billion cubic meters at a growth rate of 1.4 percent. It would take Africa 68 years to completely deplete its reserves.

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Zimbabwe Set To Give Foreign Investors 100% Equities In Local Companies

August 2, 2019
Zimbabwe

Zimbabwe is set to repeal the Indigenisation and Economic Empowerment Act as the country moves to enhance the attractiveness of the minerals sector to foreign direct investment (FDI). This is remarkable because it is the first time in 11 years since foreign investors stopped owning 100% stakes in companies they set up in Zimbabwe. For the economy, this is by far a direct way of telling investors to come to do business in Zimbabwe.

Zimbabwe
 

Here Is The Deal

  • Under the new arrangement, the Indigenisation and Economic Empowerment Act will be replaced by a more “business-friendly” Economic Empowerment Act, but in the interim, the Indigenisation Act has been amended to remove the critical diamond and platinum sub-sectors from the reserve list.
Click to expand

“Government, through the 2018 Finance Amendment Bill amended the Indigenisation and Empowerment Act and platinum and diamonds are now removed from the reserve list and shareholding will depend on negotiations with investors.

“Subsequently, the Indigenisation and Economic Empowerment Act will be repealed and replaced by the Economic Empowerment Act, which will be consistent with the current thrust “Zimbabwe is Open for Business,’’ Zimbabwe’s Finance and Economic Development Minister Mthuli Ncube, was quoted as saying while presenting the Mid-term Fiscal Policy Review statement and Supplementary Budget in Parliament yesterday.

  • The Indigenisation Act which is due for repeal requires foreign companies to give shareholdings of up to 51% in joint ventures to local partners. 

The Implication Of The Intended Repeal

  • This repeal is expected to be revolutionary. First, it now means that local shareholding will depend on agreed terms by investors, while foreign shareholding can reach up to 100 percent. 
  • Then again, it means that foreign investors can now work under an environment with less threat of breach of contract.
  • Such threats had a negative effect on the global investor community on Zimbabwe as a breach of contracts is anathema to investors.
  • The mining sector remains a key driver of Zimbabwe’s economic development, typically contributing circa 10 percent to the country’s gross domestic product (GDP) and around 60 percent to exports.
  • And true to form, during the first half of the year, the sector contributed US$1.3 billion, about 68 percent of the total exports of US$1,9 billion during the period.
  • The scrapping of the Indigenisation and Economic Empowerment Act is one of the measures that is expected to provide impetus to the economic contribution of the sector.

Expect More Foreign Direct Investment In The Zimbabwe Mineral Sector

  • The Indigenisation Act has already been amended to remove the critical diamond and platinum sub-sectors from the reserve list. The rest of the minerals have also been removed from the list.
  • The Indigenisation and Economic Empowerment Act worked to discourage and alienate much-needed FDI and investment as the way it was implemented threatened business.
  • Around 2013, the indigenization programme shook a lawfully and morally binding agreement between Zimbabwe’s largest platinum producer, Zimbabwe Platinum Holdings (Zimplats) and Government.

Comprehensive Strategy Already In Place for All Foreign Companies

  • The Zimbabwean government has over the past several months secured a number of mining investment deals, with the latest being a joint venture agreement between State-owned diamond miner, the Zimbabwe Consolidated Diamond Company and Russian firm, Alrosa.
  • The new diamonds agreement will see about US$12 million being invested in the exploration of diamond deposits over the next three years.

Minister Ncube yesterday said that Government will put in place a “comprehensive strategy” to see the coming into fruition of these deals.

“These investments will, however, take some time (up to 10 years of production) to give visible net benefits in view of long gestation periods for mining projects.

“Government will, therefore, in the second half of the year unveil a comprehensive strategy and roadmap towards a US$12 billion mining industry by 2023,” he said.

“The attainment of this milestone is not an event, but a process, which is well underway with concrete start-ups and expansion of projects in a number of minerals, which include platinum, gold, ferrochrome, coal and hydrocarbons, lithium, diamonds, iron ore, among others.” 

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Sparkle Is Nigeria’s Latest One-Stop Shop For Retail Businesses Launched By Former Diamond Bank MD

Sparkle

This is an opportunity to invade Nigeria’s retail sector. Mr. Uzoma Dozie, former Group Managing Director of Nigeria’s Diamond Bank, which was recently acquired by Access Bank sees a big gap here. He is sure that launching Sparkle, a startup that hopes to reduce operational risks of small businesses in Nigeria, is the most timely thing around the corner. Whether it is registering your new company or registering for tax or getting forex or domain names for your businesses, you can do all that on Sparkle.

Sparkle
 

Here Is Why

  • After seeing off Diamond Bank’s acquisition, Uzoma Dozie floats a new firm, Sparkle, to help reduce operational risks of small businesses in Nigeria.
  • Sparkle’s target is to tackle how retailers achieve their daily objectives and scale their businesses.
  • The startup will provide a range of innovative lifestyle services, in addition to typical current and savings accounts that exist in the market. 
  • In particular, Sparkle will deliver customer experience-led support services, ranging from inventory management and invoicing statements to foreign exchange services and a POS-via-mobile function.
  • Set to launch in 2019, Sparkle will release plug-in APIs for the platform, to enhance convenience & service, whereby outside developers can contribute & build solutions. 
  • Powered by AI and Machine Learning, Sparkle is building a dynamic community around Nigeria’s retailers and consumers, influencing purchasing decisions based on user-generated behavioural purchase data. 
  • This will actively support retailers in navigating a better route to market by directing the right consumers their way.

This Will Be A Game Changer, A Major Disruptor For Many Leeching Onto The Retail Value Chain

Expect jobs to be taken away from Nigeria’s company registration agents, among many others currently reaping from Nigeria’s heavily dispersed retail ecosystem.

Performance of Payment Channels by Value of Transaction in Q3 2016. Source: NBS

Sparkle team is also building a digital framework for retailers to register their companies, register for tax and register domains, as it looks to plug the gap in terms of business advisory and regulatory services for retail SMEs in the country.

“Retailers and consumers in Nigeria are currently disconnected; Sparkle is building the solution around its understanding of the challenges of small businesses, which will help reduce the operational risks small businesses are exposed to in their infancy. Sparkle is a product, a community, born out of necessity for Nigeria’s retail landscape. We will connect millions of retailers on a digital platform, providing a service they can trust, that is seamless, and that allows for frictionless transactions across all activities and business services”.

“Having spent more than 20 years building out the retail arm of Diamond Bank, it is clear that there is a significant gap in the market to incubate and roll out a new approach to services for retailers, and at scale; they need a financial & business services partner, not another finance platform.

This is where we stand out from all others. Sparkle is a collaboration between retailer and customer — a support system that will ensure far greater financial inclusion and much-improved access to market, built for many, built to scale,” says Uzoma Dozie, Founder and CEO, Sparkle.

Succeed? Support Is Already Guaranteed By Major Financial Players 

For a man who was until recently Diamond Bank’s MD, the clout is still very much heavy. 

Why Sparkle? Because you can. Because you want to do much more and businesses want to be much more. http://bit.ly/sparklinglife @NgSparkl, Mr Dozie wrote on his Twitter Handle

The startup has already entered into partnerships with Visa, Network International, as well as PricewaterhouseCoopers. They will also be working with Microsoft.

Retailers contribute 33% to total GDP and 45% of total employment in Nigeria and are a critical part of powering the Nigerian economy, however services available to small businesses have not been best suited.

Sparkle has identified lack of funding, poor access to market/network and lack of business training as the primary challenges for the sector, which is why the new platform will also provide access to mentorship and development.

“Technology adoption is the only way retail can scale in Nigeria.’’

“Technology adoption is the only way retail can scale in Nigeria. We are in a new, digital economy. Retailers, individuals, and businesses need the space and bandwidth to be creative and to build their business; we are building Sparkle as a wrap around for what they are already doing and we are leveling the playing field for all Nigerians, democratizing access and helping SMEs create their own luck. Sparkle is for the many, not for the few and as we continue to build out the platform,’’ Mr Dozie said.

During his tenure at Diamond Bank, Uzoma was responsible for ensuring technological innovation was central to the institution’s growth strategy. From 2014–2018, Diamond Bank’s mobile app adoption rates grew from 206,000 to 3.3 million, and he simultaneously focused on aggressively growing the bank’s retail arm to include 18 million MSME customers.

See Also: Lessons Startup Businesses Can Learn From Nigerian Diamond Bank Merger

Keen to pioneer diversity and financial inclusion, the Sparkle team has also identified women as a key demographic to collaborate with, as they play a key role in the new economy, with high adoption of tech to leverage on the flexibility of driving new businesses. Women are also essential in staying in touch and connecting with their millennial families.

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Gambia Now Has The Latest Angel Investors Network in Africa

August 1, 2019
Gambia

More investment in the Gambian startup ecosystem is expected. A new angel investors network is currently in place in the Gambia. So, expect more funding for Gambia startups. 

Here Is The Deal

  • The Gambia Angel Investors Network (GAIN) launched on July 20 with a pitch session and a masterclass on angel investing delivered by its new managing director Adrame Ndione and Tomi Davies, president of the African Business Angel Network (ABAN).
  • In the latest West African angel investor network launch, following those in the likes of Mali, Benin, and Senegal, GAIN is bringing together between 10 and 15 local investors who have committed to providing funding to between eight and 12 early and growth-stage startups and in The Gambia each year.
  • The network aims to provide ticket sizes of between US$20,000 to US$300,000 and help develop the nascent Gambian startup and investment ecosystem by empowering hubs, incubators, and accelerators and providing an entry point for international investors and diaspora interested in investing the country.

Most Active Seed Stage Investors

When pitching, an important point is to be pitching so as to reach to those who are most likely to fund your type of round. The most active investors in seed rounds during the past 3 months are:

Startup-Chile

Hiventures

Crowdcube

Plug and Play

Innovation Works

500 Startups

Innova Memphis

Entrepreneurs Roundtable

Berkeley SkyDeck Fund

Quake Capital Partners

Top Early Stage Investors

For those, going for early-stage funding, consider these active players:

IDG Capital

New Enterprise Associates

Sequoia Capital China

Accel

Y Combinator

ZhenFund

Sequoia Capital

Matrix Partners China

Intel Capital

Index Ventures

Most Active Late-Stage Investors

Interested in looking for a Series B or anything above for a growth stage round, the following firms have been the most active globally.

Sequoia Capital

Tencent Holdings

Insight Venture Partners

Bpifrance

Goldman Sachs

Bessemer Venture Partners

New Enterprise Associates

Khosla Ventures

Andreessen Horowitz

Sequoia Capital China

These Investors Have Been The Most Active In Africa, Whether Early, Middle Or Late Funding

Click here to view the list of good investors in African startups.

 

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

African Development Bank and South Sudan Recruit Pan-African Centurion Law Group to Strengthen Capacity in the Oil & Gas Sector

African Development

Following an open tender and a highly competitive international bidding process, the African Development Bank through its African Legal Support Facility (“ALSF”) and the National Petroleum and Gas Commission, representing the government of the Republic of South Sudan, selected the Centurion Law Group to build capacity in the Republic of South Sudan’s oil and gas sector.

The project is a result of the ALSF’s commitment to foster legal and technical best practices and transparency across South Sudan’s oil & gas value chain. It will focus on providing specialized capacity building training to officials from the National Petroleum and Gas Commission, including the development of best practice procedures for the negotiation, evaluation, and monitoring of contracts in the oil and gas sector.

African Development
 

As South Sudan continues to increase oil production – its most important export commodity – and attract foreign investment into its oil & gas sector, this project will enhance the National Petroleum and Gas Commission’s ability to fully exercise its functions as a regulator and a facilitator in the oil sector.

As per the South Sudan Petroleum Act of 2012, the National Petroleum and Gas Commission notably provides general policy direction with respect to petroleum resources, acts as a supervisory body in matters relating to petroleum resource management, approves all petroleum agreements on behalf of the Government and ensures that they are consistent with the Act.

“The National Petroleum and Gas Commission is a key institutional pillar of South Sudan’s oil & gas sector,” declared Hon. Caesar Oliha Marko, Chairperson of the Commission. “We are delighted to be working with a reputable firm like Centurion to enable our country’s oil industry to meet its obligation to our citizens and investors. Building capacity is key to us ensuring that we deliver on the promise of making oil work for everyone in South Sudan”.

The project will notably focus on reviewing South Sudan’s existing legal and fiscal framework and ensure the transfer of skills and know-how to the government’s representatives and experts.

“It is a real honor to have been selected for this project with the Petroleum Commission,” declared Nj Ayuk, CEO of the Centurion Law Group. “Local content development and domestic capacity building are at the core of everything we do as a firm. We take this project as a unique opportunity to contribute to the development of South Sudan and Africa’s oil industry in general. We are grateful to the African Development Bank and the Republic of South Sudan for entrusting us with this responsibility.”

“As a team, we truly believe in the role the National Petroleum and Gas Commission has in shaping the future of South Sudan’s oil & gas sector,” said Glenda Irvine-Smith Centurion’s Director of Business Development & International Relations, who will coordinate the project on behalf of Centurion.

“South Sudan in East Africa’s most mature petroleum province with the potential to double its current output of over 150,000 b/d in the next five years. Through CenturionPlus, our lawyers and experts on-demand platform, we will mobilize the best African and international experts for the benefit of South Sudan. We are honored to have been entrusted by the Commission and the African Development Bank to accompany South Sudan in this journey.”

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

South African e-health Startup Healthcent Raises Funding Round for Expansion

Healthcent

South African e-health startup Healthcent has secured funding from Umkhathi Wethu Ventures and Allan Gray in order to further roll out its products to medical practitioners.

Here Is The Deal

  • Founded three years ago and angel-funded until now, Healthcent is the company behind the mobile messaging system Signapps, which facilitates collaboration and rapid response to patient needs by medical providers.
  • A mobile-first, cloud-based messaging and collaboration platform, Signapps is already being used by 30 customers comprising public and private hospitals and hospital groups, practices, associations, and funders of care. There are over 2,000 users registered on the platform.
  • Healthcent has now raised an undisclosed round of funding from Umkhathi Wethu Ventures, in partnership with Allan Gray, to expand its reach into the wider South African healthcare sector and further develop the capabilities of the product.

“Collaborative healthcare delivery is a new buzzword internationally, and the investment by Umkhathi Wethu, together with Allan Gray, is a vote of confidence in our vision for Signapps and traction of the Signapps product in South Africa,” said Andrew Davies, chief executive officer (CEO) of Healthcent.

“Our purpose is to transform how patients are cared for in South Africa. Our objective with Signapps is to be the simplest, most effective, care coordination platform for people and organisations in the healthcare ecosystem, and to ensure that the patient remains firmly at the centre of the treatment universe.”

Rob Dower, director of Allan Gray, said his company’s internal ventures team was looking to fund the development of new businesses that can make a significant difference to society.

“Healthcent is the first company in South Africa to offer a secure mobile messaging application designed specifically for the healthcare sector. This allows medical professionals to avoid the inaccuracies, delays and risks of paper-based record systems, without resorting to social networks to coordinate care, which are inappropriate for many reasons,” he said.

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/

Free WiFi and Online Entertainment On Public Buses? That’s What SWVL Just Launched in Kenya

July 31, 2019
SWVL

The disruption game is on. Swvl has raised more money and it is currently staging a major feat in Kenya. Swvl riders in Kenya will now save their MBs while onboard Swvl buses, as well as have access to online entertainment, similar to the experience you have onboard a plane with mini TVs sticking into your faces. 

Here Is All You Need To Know

  • This innovation is by way of a partnership with BRCK, a Nairobi-based startup.
  • The partnership will see BRCK installing free WiFi and online entertainment on its buses in Kenya.
  • The Kenyan BRCK startup has developed a rugged, self-powered mobile WiFi device for internet connectivity in areas with poor infrastructure.
  • These WiFi routers are being installed by BRCK in Swvl buses to have riders access the internet using Moja, a free WiFi network BRCK that also comes with entertainment content including Music, TV shows, cartoons, and books. 
  • The users can access free content by downloading Moja’s Android app.
  • BRCK has already installed its routers on 15 Swvl buses and is expected to take this number to 700 by 2020. 
  • Swvl is paying a monthly fee to BRCK for installation and maintenance of the routers.

Top 10 Startup Funding Africa, 2019

Extension To Other Markets Outside Kenya

  • Swvl and BRCK have not confirmed if they plan to extend their partnership to other markets where Swvl operates.
  • BRCK’s network is already available on a large number of minibuses (Matau) in Kenya and Rwanda with over 445,000 unique monthly active users, TechCrunch reported citing company data.
  • Swvl, since launch in 2017 in Cairo, has expanded to Alexandria, Nairobi, and Lahore, with tens of thousands of daily bookings in these markets. The startup had recently raised $42 million in one of the largest tech investment rounds of MENA. Careem had also announced last month that it will be providing free WiFi to all the riders in UAE.

This is a classic way startups can effectively leech on to the existing value chain. 

Swvl’s Business Model

  • SWVL’s goal is to make it easier for Egypt’s residents to book bus rides at a fixed rate on existing routes.
  • Users schedule trips, pay online or in cash and are given virtual boarding passes.
  • Even with fierce competition from the likes of Buseet and Uber vying into premium public transport service, SWVL’s application has been downloaded for well over 360,000 times on Google play store and Apple iStore.
  • The platform completes 100,000 rides monthly.
  • It was the first company to introduce the service in Egypt in 2017 before Careem and Uber joined the sector late last year.
  • Swvl is however different from its competitors because of its series of partnership deals. The startup’s credit facility agreements with Nasser Social Bank and EFG Hermes Bank, and after-sales support and maintenance services with Ford-trained technicians are some of these moves.
  • What Egyptian SWVL users think about the startup is its priority on affordability, comfort, and safety.

Not Afraid Of Competition

Although Swvl is the first riding app to offer bus services in Egypt, giant transportation startups Careem and Uber have recently offered their own bus services.

Mostafa Kandil, Egyptian CEO and founder of Swvl, has however noted that the joining of Uber and Careem to the industry has not influenced Swvl’s growth asserting that they have witnessed remarkable development since the two competitive players have launched.
In 2018, the startup was valued at nearly US$100 million, becoming the second Egyptian company after Fawryto reaches these figures.

The startup has recently signed an agreement with Ford motor company to deploy more cars on the road. Ford Transit, which the startup intends to use is already the third best selling van of all times. SWVL is already in possession of about 100 Ford Transits. Hazem Taher, SWVL’s Head Marketing Manager, said the vans were ready to go and they’re excited to push them on SWVL’s route.

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.

Facebook: https://web.facebook.com/Afrikanheroes/
Afrikan Heroes
Theme by Grace Themes