Startups and founders - Afrikan Heroes

Sendchamp’s Strategic Acquisition by WhoGoHost — A Game-Changer in Digital Communication and Commerce

September 16, 2023

In a groundbreaking development that promises to reshape the landscape of digital communication and commerce, Sendchamp, a pioneering company specializing in business-customer communication, has announced its acquisition by WhoGoHost, a Nigerian web hosting and domain name registrar company. This strategic move marks a significant turning point in Sendchamp’s journey and carries profound implications for the future of business interaction in the digital age.

Over the past two years, Sendchamp embarked on a mission to revolutionize the way businesses engage with their customers. Through the ingenious implementation of an API product and an intuitive no-code communication tool, the company proudly served over 6,000 businesses. Remarkably, these enterprises collectively facilitated the exchange of over 50 million messages across a multitude of channels, connecting with more than 3 million end-users. This remarkable achievement was underscored by the trust of hundreds of paying customers each month.

Sendchamp’s co-founders, Damilola and Goodness, extend their deepest gratitude to their loyal customers, acknowledging their pivotal role in this extraordinary journey. It is through the support, feedback, and trust of these businesses that Sendchamp has scaled new heights.

Therefore, Sendchamp is thrilled to announce its strategic alliance with the WhoGoHost family, known for its remarkable journey in delivering reliable technology services. This partnership not only allows Sendchamp to continue its mission of elevating business communication but also expands its digital services platform. The overarching goal is to empower businesses and entrepreneurs with the tools required to thrive in the digital age. This includes maintaining a robust online presence, effortlessly managing customer communication, and providing comprehensive commerce solutions.

During the transitional phase, Sendchamp will maintain its independent operation for the initial months, after which it will seamlessly merge into the Whogohost ecosystem. This integration promises an even broader spectrum of services, further enhancing the value proposition for businesses.

Sendchamp also extends heartfelt appreciation to its vibrant developer community, whose unwavering support and dedication have played a pivotal role in delivering exceptional developer experiences. Likewise, gratitude is extended to investors and advisors whose financial support, guidance during challenges, and customer introductions have been instrumental in the company’s growth and success.

The co-founders also acknowledge the extraordinary contributions of their dedicated team. Their relentless commitment from the very beginning has been the bedrock upon which Sendchamp’s achievements were built.

As Sendchamp embarks on this new chapter, the co-founders emphasize their commitment to their customers and encourage them to reach out through any of their support channels. With profound appreciation and anticipation for the future, Damilola and Goodness look forward to an exciting journey ahead. This acquisition not only marks a milestone in Sendchamp’s history but also holds the promise of transforming the landscape of business communication and digital services.

WhoGoHost, founded in 2007 by Opeyemi Awoyemi and later led by Toba Obaniyi, has grown to become a reputable name in web hosting and domain registration services. Their offerings include domain registration, shared hosting, cloud hosting, virtual servers, SSL certificates, CodeGuard backup, Sitelock, website design, and more. The company’s mission is to deliver reliable technology services that delight and improve the lives and businesses of their customers.

MTN SuperFlex: DIY Mobile Plans Launched in Market Shake-Up

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Algerian Startup Yassir Invests $5.3M to Salvage Flink from Sinking

September 14, 2023

In a dramatic turn of events following the unsettling liquidations of industry giants Gorillas and Getir, which left over 1,300 employees in uncertainty, Flink France, a specialist in express home delivery of groceries, has found a lifeline. The company has been acquired, ensuring the retention of 270 jobs, albeit with the unfortunate loss of approximately 200 positions. The fate of these employees remains uncertain, a cause for concern voiced by Sorike Kamassokho, the representative of the employees and the CGT union section. Kamassokho highlights the predicament of around “thirty undocumented workers” as the most vulnerable in this situation.

Since entering receivership back in June, Flink France has now been rescued by a consortium led by Guillaume Luscan, the current general manager, the German parent company, and the Algerian startup Yassir. This lifesaving deal, accepted by the Paris commercial court on Tuesday, September 12, has secured the future of 56% of the workforce. Notably, Yassir has committed an impressive investment of more than 5 million euros to revive the company. Guillaume Luscan, in his explanation of Yassir, underscores its expertise in on-demand and payment services, marking it as one of the most valuable startups in the Europe, Middle East, and Africa region.

The financial requirement for this revitalization project, aimed at taking the company to profitability, stands at approximately 5.4 million euros, which includes the acquisition cost of Flink France, estimated at around 500,000 euros, as per the offer examined by AFP. The new ownership group intends to streamline operations, “massify volumes,” and significantly reduce fixed costs.

To achieve these goals, they have decided to retain 14 out of the 19 sites offering express home delivery of groceries in cities such as Paris, Lyon, Lille, Marseille, Montpellier, Nice, Bordeaux, Toulouse, and Nantes. The decision to close certain stores, particularly those that have faced criticism from local residents and elected officials due to the constant traffic of delivery personnel, has been made a priority. This primarily includes four stores in Paris and one in the Paris region.

The “quick commerce” industry faced severe setbacks last March when stringent regulations redefined “dark stores” as warehouses rather than businesses, opening the door to municipal regulation of this activity and even site closures. This led to the Turkish company Getir’s withdrawal from the French market, resulting in the liquidation of Getir and Gorillas, with the fate of Frichti hanging in the balance until the end of September.

Flink France had found itself in receivership in June, primarily due to regulatory challenges. With this acquisition, the new leadership aims to ensure that the company aligns better with its regulatory environment. Guillaume Luscan, who has been managing Flink France since March 2023 and is also a co-founder of Cajoo (now part of Flink SE), emphasized their faith in the express delivery model. Luscan expressed optimism, stating, “We have a recovery and restructuring plan that allows us to achieve profitability, focusing on improving the customer experience through the expansion of the offering and the addition of new functionalities.”

Established in France just two years ago, Flink originally emerged in Germany in 2020, founded by logistics and distribution experts.

Yassir Flink Yassir Flink

Binance to Airdrop up to $3 million in BNB to Users in the Morocco Earthquake Region

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Jack Dorsey-Backed Btrust Invests in Africa’s Bitcoin Future with Qala

September 6, 2023

In a meticulously planned move, Btrust, the non-profit entity endowed by Block CEO Jack Dorsey and iconic rapper Jay-Z, has successfully concluded its acquisition of Qala, a prominent institution dedicated to cultivating African talent in Bitcoin and Lightning engineering. This pivotal acquisition, formalized on September 1st, has seen the transformation of Qala into the Btrust Builders Programme. Here is how this strategic merger will work.

Shared Vision, Synergistic Approach: At the heart of this acquisition lies a shared vision between Btrust and Qala — advancing Bitcoin development in Africa. Btrust, initially seeded with 500 BTC, boasts financial prowess but sought a well-structured mechanism to nurture a sustainable talent pool for Bitcoin development. Qala, on the other hand, brought a wealth of educational infrastructure but grappled with resource limitations. Their union brings together complementary strengths.

Financial Constraints at the Forefront: Femi Longe, Qala’s CEO, transparently identified financial challenges as their primary obstacle. Operating as a social enterprise, Qala’s reliance on grants from organizations like the Human Rights Foundation and Coinbase Giving made them susceptible to fluctuations in Bitcoin’s price, which often influenced the availability of charitable donations. Btrust’s infusion of resources significantly addresses this concern.

Stipends for Talent Development: Beyond the daily operational needs, Qala needed financial backing to provide stipends to participants advancing to the intensive phase of their training programs. This crucial support ensures that budding engineers can wholly devote themselves to their educational journeys.

Attracting Senior-Level Engineers: A distinctive challenge lay in enticing senior-level engineers to transition into Bitcoin development, a move that inherently demands higher costs due to commensurate stipends expected by seasoned professionals. These experts bring an unparalleled ability to navigate complex challenges swiftly, surpassing the capabilities of junior and mid-level peers. The partnership with Btrust augments Qala’s capacity to attract such seasoned talents.

Key Leadership Transition: A significant outcome of this acquisition is the transition of pivotal figures from Qala to Btrust. Femi Longe and Stephanie Titcombe, integral to Qala’s mission, will now assume roles as program leads within the Btrust Builders initiative, reinforcing the alignment of objectives.

Focus on Open-Source Training: The Btrust Builders Programme is set to pivot toward open-source training, a strategic shift that embraces a broader vision. Moreover, it extends an invitation to senior African software developers, offering them the opportunity to embark on transformative journeys into Bitcoin and Lightning development.

Ojoma Ochai, a Btrust Board Member, conveyed immense pride in welcoming Femi Longe and his accomplished team into the Btrust fold. Ochai recognized Qala’s noteworthy contributions in advancing open-source development in the Global South, an alignment with Btrust’s core mission centered on educational empowerment within the region.

Bernard Parah, co-founder and director of Qala, succinctly articulated the essence of this historic collaboration: “When we launched our program in 2021, our objective was straightforward: to cultivate a substantial number of African engineers well-versed in Bitcoin’s potential to transform the continent.” With today’s announcement, this mission gains renewed impetus, equipping communities with the resources to actively contribute to Bitcoin’s open-source development — a pivotal solution to the distinctive socio-economic challenges confronting Africa.

Investors Bet Big on Kenya’s Kotani Pay: A Blockchain Solution to Africa’s Remittance Woes

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Why Algerian Tech Talents Are Leaving the Country in Droves

September 5, 2023

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A recent report by the Circle for Action and Reflection on Business (CARE) has drawn attention to a burgeoning issue of considerable importance: the escalating brain drain of digital talents from Algeria to foreign countries. Authored by Slim Othmani, the report, titled “National Emergency! The Flight of Digital Talent Threatens Our Development,” was released on Saturday, August 19, 2023. The report seeks to critically examine the causes and implications of this talent drain, both within the Algerian context and as part of a broader international trend.

For more than a decade and a half, the question of whether Algeria possesses the requisite digital expertise to bolster its economic growth and development has persisted. The catalyst for this concern was a notable announcement by the German government, facing a severe shortage of computer engineers, which contemplated recruiting international talents to address the deficit. This revelation raised questions about Algeria’s own digital talent pool and the potential ramifications of a significant brain drain in a field integral to the nation’s development.

Current Scenario

The report underscores that the situation has evolved considerably since that initial revelation. In the present day, the proliferation of artificial intelligence (AI) in our daily lives has brought the issue of talent deficiency back to the forefront. This trend is not unique to Algeria; European countries are grappling with alarming shortfalls in digital talent.

European Talent Shortages

Germany, as per research from the Institute of Economic Research (IW) in Cologne, is estimated to face a shortage of 700,000 professionals in the MINT sectors (Mathematics, Computer Science, Natural Sciences, and Technology) over the next decade. This crisis is particularly alarming given that Germany’s digitalization efforts are already lagging, and the nation is increasingly dependent on foreign workers to fill these gaps.

France, another European nation, anticipates a deficit of approximately 400,000 tech talents by 2030, as highlighted in a report by the Montaigne Institute. This talent shortage consistently ranks as a top hindrance cited by business leaders, hindering France’s ability to remain competitive in an ever-digitalizing world and participate fully in future technological advancements.

The North African Perspective

The report echoes the concerns of a broader European context, as it becomes increasingly evident that the shortage of digital skills in Europe is a formidable obstacle to innovation and competitiveness. The urgent need for solutions is exacerbated by the vast scale of the challenge, with over 20 million individuals needing training by 2030.

EU Initiatives

Recognizing the gravity of the situation, the European Union (EU) has initiated three key actions aimed at addressing European needs and strengthening the capabilities of countries likely to be targeted for talent recruitment, such as those in North Africa. These initiatives highlight the necessity for a support mechanism for nations like Algeria that face the potential mass departure of digital talents.

The Algerian Challenge

The report underscores the importance of addressing this challenge in Algeria. It recommends a comprehensive effort to align the supply and demand in digital professions, emphasizing the need for a quantitative and qualitative assessment of current offerings and a forward-looking analysis of future job landscapes.

Conclusion

In conclusion, the report emphasizes that Algeria, like other nations in the region, is a prime target for recruiting digital talents. The upheavals brought about by artificial intelligence in the world of work, coupled with the imperatives of innovation and competitiveness, pose real challenges to Algeria’s governance.

The report underscores the necessity of placing training in digital professions at the top of the national priorities list. The current goals set by the Algerian government regarding talent attraction and retention are seen as insufficient in light of the challenges ahead. Building a comprehensive digital ecosystem involves more than just smartphone applications; it requires investments in infrastructure, security, data analysis, and more.

By 2030, Algeria will need to double or even triple its digital training capacity to meet domestic demand and counteract the potential talent exodus. The report calls for a comprehensive understanding of the digital value chain to avoid disillusionment.

In addressing the allure of countries seeking digital talents, the report warns against the counterproductive path of repression against those aspiring to immigrate. Instead, it emphasizes the role of diplomacy in identifying and implementing necessary cooperation agreements with influential countries in the digital field.

Finally, the report highlights that clarity and leadership will be essential to navigate these disruptions politically and socially, as they carry significant socio-economic consequences not only for Algeria but for nations worldwide.

tech talents Algeria tech talents Algeria tech talents Algeria

Nigerian Banking-as-a-Service Provider, Anchor, Surges Ahead with $2.4M Seed Funding

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

FlexClub South Africa Empowers Asaak’s Latin American Entry through Mexico Affiliate Acquisition

September 1, 2023

Tinashe Ruzane, the CEO and co-founder of FlexClub

In a groundbreaking move, Asaak, a pioneering fintech company hailing from Uganda, has achieved a significant milestone through its acquisition of FlexClub Mexico, thereby expanding its operations across two continents. While the precise financial details of the transaction remain undisclosed, both parties have officially confirmed the acquisition. This strategic maneuver marks Asaak’s entry into the Latin American market, reinforcing its unwavering commitment to revolutionize financial solutions for mobility workers on a global scale.

Having already attained profitability within the Ugandan market, Asaak’s acquisition of FlexClub Mexico underscores its dedication to making a substantial, long-term investment, thus marking a momentous stride towards promoting affordable financing options across emerging markets. This strategic partnership empowers Asaak to broaden its innovative credit ecosystem by collaborating with the accomplished team at FlexClub Mexico to formulate transformative financial solutions tailored for the Latin American region.

Tinashe Ruzane, the CEO and co-founder of FlexClub, expressed enthusiasm about the talented FlexClub Mexico team joining forces with Asaak and contributing to their shared vision in Latin America. Ruzane emphasized that their decision to withdraw from the Mexican market arises from the necessity for enhanced focus within a challenging economic landscape, rather than a reflection of its potential. “Our departure from the Mexican market is driven by the need for sharper focus in this very challenging economic environment, not a reflection of the potential. We are excited about the opportunity for the talented FlexClub Mexico team, including Javier Serrano, Gerardo Cedano, Karen Garcia, and Emmanuel Velez, to join Asaak and contribute to their vision in Latin America,” he stated. Ruzane further affirmed that FlexClub will continue to prioritize collaboration with car rental and leasing companies in South Africa to facilitate vehicle subscriptions within the country.

Asaak’s acquisition of FlexClub Mexico heralds a new era in mobility financing. By extending its reach into Latin America, Asaak is effectively addressing a critical gap in the financial landscape. Through this strategic partnership, Asaak intends to introduce its innovative incremental credit solutions to Mexico, offering workers more seamless access to affordable credit for their economic advancement.

Kaivan Khalid Sattar, CEO and founder of Asaak, underscored the company’s steadfast commitment to reimagining financial inclusion within the mobility financing sector. He expressed excitement about bringing African innovation to Latin America by acquiring FlexClub Mexico, which stands as a testament to Asaak’s vision of creating meaningful financial solutions that transcend borders and foster prosperity for mobility workers across emerging markets. “The vehicle is the entry point into our credit ecosystem, from which drivers can eventually access additional credit for fuel, repairs, smartphones, or other needs they may have. We’ve proven this can be done profitably at scale for our clients, both online and in person,” said Kaivan.

Founded in 2019 by Marlon Gallardo, Rudolf Vavruch, and Tinashe Ruzane, FlexClub connects customers seeking convenient access to long-term cars with partners that offer car subscriptions. The startup currently operates in South Africa and Mexico and maintains partnerships with Uber in both countries, facilitating car subscriptions for Uber drivers.

Kenya’s Businesses Poised for Huge Pan-African Trade Growth

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

How Crowdfunding Platform MonieWorx is Filling Venture Capital Gaps In Nigeria

August 30, 2023

In a country known for its vibrant entrepreneurial spirit but also its daunting funding challenges, a groundbreaking crowdfunding platform has emerged as a beacon of hope for small and medium-sized enterprises (SMEs) seeking capital to turn their innovative ideas into reality. MonieWorx, Nigeria’s premier securities crowdfunding platform, has not only defied conventional funding norms but is redefining the landscape of investment opportunities in the country.

In a recent funding round that lasted a mere seven days, MonieWorx achieved an astounding feat: raising a remarkable ₦260 million (equivalent to $336,487) to support the growth of seven distinct SMEs. This achievement has sent ripples of excitement throughout Nigeria and beyond, underscoring the platform’s pivotal role in bridging the venture capital gaps that have historically stymied the potential of countless local businesses.

Established just a year ago, MonieWorx has swiftly risen to prominence as Nigeria’s largest membership-based securities crowdfunding platform. Operating under the careful guidance of Obelix 4.1.1 Alternative Finance Ltd, a licensed operator of regulated markets for crowd securities, MonieWorx has proven that harnessing the power of community-driven investments can lead to exponential growth for businesses and investors alike.

The success story began with MonieWorx’s inaugural campaign, aptly named “100-in-10,” where the platform managed to raise ₦100 million for three SMEs within ten days. This initial triumph paved the way for the recent encore campaign, during which a staggering ₦260 million was secured to empower seven diverse businesses. The campaign’s outcome was nothing short of spectacular, with three SMEs achieving full subscription within six days, and the remaining four reaching their funding targets the following day.

A key feature of this crowdfunding revolution is the introduction of GCN Crowd Notes, a fixed-income investment product that addresses the concerns of the community following past financial setbacks. Designed with principal protection in mind, GCN Crowd Notes provide reassurance to investors while also boosting their confidence in the viability of this alternative investment avenue.

MonieWorx’s commitment to its investors goes beyond financial gains. With a promise of “Payday Friday,” the platform ensures that investors are rewarded promptly for their participation. This approach not only builds trust but also reflects MonieWorx’s dedication to keeping its community’s financial goals in sight.

A noteworthy aspect of MonieWorx’s triumph is its ability to attract interest from Nigerians in the diaspora, demonstrating the platform’s global appeal. By engaging this audience through interactive sessions on platforms like Instagram Live and X Spaces, MonieWorx has effectively cemented transparency and trust as cornerstones of its operations.

Adesola Adeyinka, the COO of MonieWorx, emphasized the meticulous selection process for SMEs, which involves comprehensive vetting and reference checks to ensure alignment with the platform’s values. This scrutiny safeguards investor funds and preserves MonieWorx’s impeccable zero-default record.

The accolades from both fundraisers and investors continue to pour in. Adetokunbo Balogun, CEO of Cobham Manufacturing, praised MonieWorx’s efficiency and convenience in comparison to traditional banks, while international investors lauded its potential for beating inflation and delivering substantial returns.

Oye Oladejo, a doctoral student covering MonieWorx’s evolution, observed that the platform’s customer propositions stand favorably against global standards. The success of MonieWorx’s interactive sessions further underlines its commitment to engaging and educating its community.

MonieWorx’s encore campaign serves as a testament to the power of collective investing. By democratizing investment opportunities, MonieWorx has facilitated the involvement of both seasoned investors and newcomers, effectively promoting financial inclusivity and combating idle funds.

In a country where access to capital can make or break businesses, MonieWorx’s resounding success echoes a resolute message: collective participation can transform Nigeria’s entrepreneurial landscape. As MonieWorx remains steadfast in its mission to empower SMEs and foster financial growth, it continues to redefine the boundaries of crowdfunding, leaving an indelible mark on the nation’s economic future.

Disclaimer: The views and statements expressed in this article are based on information available as of the date of publication and may be subject to change.

TymeBank Makes PayShap Transactions Free

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Moroccan Healthtech Sobrus Expands to France After Surpassing $500M Transaction Volumes

August 29, 2023

In a strategic move echoing the growing influence of Healthtech companies, Moroccan-based software publisher Sobrus has set its sights on European expansion. The company recently established a subsidiary in France, marking a pivotal step towards capitalizing on its impressive growth momentum in both Morocco and across the African continent.

Sobrus, a prominent player in the Healthtech and pharmaceutical industry, has been at the forefront of digital transformation within the sector. Its success story has been primarily rooted in its pioneering platform, “Sobrus Pharma,” which has become the backbone of over 5,000 pharmacies in Morocco. This innovative platform seamlessly connects pharmacies, distributors, wholesalers, and pharmaceutical laboratories, streamlining the flow of medicines and healthcare products.

However, the ambitions of Sobrus don’t stop at North Africa. The company’s move to open a subsidiary in Lille, France, reflects a strategic choice to establish a foothold in the mature and competitive European market. This strategic alignment coincides with the unveiling of their latest venture, ecopara.store, an e-commerce platform designed to facilitate the pharmaceutical industry’s transition into the realm of electronic commerce.

read How Troubled Egyptian Startup Capiter Was Liquidated After Failure to Secure Merger

Omar Sefiani, co-founder of Sobrus, emphasized the importance of this move, stating, “This deployment in Lille serves as a catalyst for growth in an established and challenging European market. It goes hand in hand with the launch of ecopara.store, a powerful tool meant to facilitate an easier entry for the pharmaceutical ecosystem into the realm of e-commerce.”

Sobrus’s impressive presence isn’t just limited to Moroccan borders. Its groundbreaking platform has also found a home in 13 African countries, where it has made a significant impact on the pharmaceutical landscape. A testament to its success, the platform’s digital infrastructure handles an astounding 5 billion dirhams worth of transactions. Even more impressive is the fact that a substantial portion of this massive volume — 10% to be precise — is entirely automated, reflecting the company’s dedication to cutting-edge technological solutions.

Omar Sefiani is the co-founder of Sobrus. Credits: Omar Sefiani

Omar Sefiani, a driving force behind Sobrus, envisions a future where this automation percentage grows exponentially. “Our goal is to elevate this figure to 35% by 2025,” he states confidently. This vision speaks to Sobrus’s commitment to harnessing technology to streamline and optimize the complex network of interactions within the pharmaceutical sector.

Beyond its core services, Sobrus has also emerged as a key player in data utilization. With a comprehensive database comprising over 130,000 medicines, health products, and medical devices, Sobrus is well-equipped to forge strategic partnerships. The latest evidence of this comes in the form of a collaboration with a local insurer, a move that aims to enhance customer reimbursement processes.

The innovative spirit of Sobrus doesn’t stop at data management and automation. The company’s 55-strong team, alongside a revenue of 10 million dirhams, is pushing the envelope in terms of AI integration. Their latest endeavor involves integrating an AI module into their platform, designed to empower pharmacists to optimize inventory and order management with greater precision.

As the company charts its path forward, Sobrus’s co-founders, Omar Sefiani and Yahya Zahraoui, are orchestrating a financial symphony. Negotiations are underway with national and international investors, including a prominent pan-African fund and two local investors. “We are confident that this effort will provide us with the resources needed to drive our international expansion plans and invest in research and development,” Omar Sefiani concludes, highlighting the unwavering commitment behind Sobrus’s journey into the future.

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Tunisian Startup SeekMake Secures $539K to Fuel Global Expansion

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

XceleRise: 15-Month Program by Endeavor Egypt, GIZ to Elevate Startup Growth Trajectory

August 25, 2023

Endeavor Egypt and GIZ Egypt, acting on behalf of the German Government, have unveiled an unparalleled Scale-up initiative aimed at facilitating access to capital and facilitating market growth for all startup enterprises that champion sustainability.

Spanning over 15 months, this distinctive program is meticulously crafted to empower ambitious entrepreneurs with comprehensive industry acumen, invaluable market insights, and crucial networking liaisons required to effectively amplify their global operations and secure capital investment.

Referred to as the Endeavor Egypt Scale-up Program, XceleRise, this endeavor extends an exclusive prospect to entrepreneurs to tap into the extensive global mentorship, investor, and industry expert network provided by Endeavor. By harnessing the expertise and counsel of these influential specialists, participants will acquire the essential proficiencies and tactics to proficiently navigate the intricacies of international expansion and optimize their potential for growth.

Integral attributes of this program encompass:

Strategies for Fundraising and Facilitated Introductions: Participants will be well-versed in optimal fundraising methodologies and be granted access to potential investors through strategically arranged introductions orchestrated by the program.
Directives for Market Expansion and Exploration: Entrepreneurs will be equipped with comprehensive directives for market expansion, enabling them to make discerning decisions and optimize their ingress into new markets. In addition, chosen participants will be granted the opportunity to embark on a firsthand exploration of potential markets through country visits.
Networking and Engagement with Stakeholders: The program will cultivate avenues for networking, allowing entrepreneurs to connect with pivotal stakeholders, industry frontrunners, and likeminded peers who share a fervor for innovation and advancement.

The program’s focal sectors encompass, but are not limited to:

Green Buildings
Waste Management
Renewable Energy
Sustainable Transport
Agriculture and Water Management

XceleRise underscores its commitment to bolstering enterprises that underpin the emergence of competitive ventures and the generation of employment, especially within ecologically significant domains. Such sectors encompass fintech, ed-tech, and health-tech, as well as businesses within the logistics and smart-city domains that champion equitable supply chains and the sustainable overhaul of global supply networks.

Egypt’s Lifestyle Startup Glamera Goes FinTech, Secures Saudi Payments License

August 24, 2023

In a pivotal development, Glamera, a technology firm operating in the beauty and care sector across the Middle East, has proudly announced its acquisition of a pivotal technical permit. This authorization, granted by Saudi Payments, empowers Glamera to offer Point of Sale (SoftPOS) services, catapulting the company into the dynamic realm of financial technology (FinTech). This transformative move not only cements Glamera’s status as a frontrunner in the industry but also ushers in a new era of seamless payment solutions in the Saudi market.

A Step Forward in Convenience and Innovation

The newly acquired permit stands as a testament to Glamera’s dedication to enhancing its service portfolio. By stepping into the realm of FinTech, Glamera is poised to revolutionize how beauty and care transactions are conducted. This announcement comes as a resounding validation of Glamera’s commitment to providing its customers with unrivaled convenience and cutting-edge solutions.

With Glamera Pay taking the lead, the company’s ambitions for expansion within the Saudi market acquire a robust platform. The platform is designed not only to ensure secure and effortless payment options but also to bolster customer trust and convenience.

Mohammed Hassan, the visionary CEO of Glamera, expressed his optimism, stating, “Glamera Pay is our gateway to a realm of unprecedented opportunities, allowing us to extend our influence, cater to a wider audience, and fulfill the diverse needs of our customers within the Kingdom. This strategic stride also paves the way for forging invaluable partnerships, setting the stage for Glamera’s continued ascendancy in the Saudi market.”

A Technological Leap Forward

Omar Fathy, the Chief Technology Officer of Glamera, underscored the profound implications of Glamera Pay. He emphasized how this transformative leap signifies not just technological progress but also a tangible step toward success. The Saudi payments license empowers Glamera to expand its footprint and offer seamlessly integrated payment solutions, further enhancing the customer experience in the Kingdom. Fathy commented, “Our excitement knows no bounds as we bring the advantages of our technological prowess to reshape Saudi Arabia’s beauty industry, introducing enhanced convenience for our cherished users.”

A Journey from Tech Provider to Strategic Partner

Since its inception in 2020 as a technology provider, Glamera has undergone a remarkable evolution, growing into an indispensable strategic partner for its clientele. Presently, the company caters to the needs of over 2,000 clients spanning across 7 countries. Notably, Glamera successfully concluded its “seed” funding round in September 2022, with contributions from esteemed investors like Techstars, RAI, 100 Ventures, Lucrative Ventures, and Oqal, along with a consortium of angel investors.

As Glamera blazes a trail into the FinTech arena, it is undeniable that this Saudi payments license heralds a significant turning point. With the integration of Glamera Pay, the company is poised to reshape the landscape of beauty and care transactions, amplifying customer experiences while solidifying its position as a trailblazer in the ever-evolving realm of technology and finance. The fusion of beauty and FinTech that Glamera embodies promises a future where innovation knows no bounds, and convenience becomes the new norm.

Egyptian SaaS Startup Glamera Raises $1.3M In Seed Round

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Market Expertise Gap: Kufanya’s ‘Ubuntu’ Program Aims to Solve Tunisian Startup Failures in African Markets

August 22, 2023

Ubuntu, launched in July by the social incubator Kufanya, is a soft landing program designed for Tunisian startups aiming to expand their services and products into the Francophone African market. It emerged from a recognized need within the Tunisian ecosystem, as companies and startups seek to explore opportunities presented by various countries.

Venturing into the African market is no easy task for a startup or a small business. Aside from financing challenges, the sub-Saharan African market has its own distinct characteristics. Regulations, demand, and market needs vary from one country to another. Therefore, the initial task for a startup is to gather information and data related to the market they wish to enter. Additionally, they require the necessary guidance to develop a market entry strategy. This is precisely what the Ubuntu program offers.

It serves as a soft landing program for Tunisian startups looking to internationalize their services in the Francophone African market, particularly in countries like Cameroon, Ivory Coast, the Democratic Republic of Congo, Senegal, and Rwanda. The application process was launched in the previous month of July. After the selection phase, which concludes by the end of August, 15 Tunisian startups will be chosen. A second phase of the program, executed by the social incubator for migrant entrepreneurs, Kufanya, and supported by the Flywheel fund, will follow with another selection process.

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A Long-Standing Ambition for the African Market

Covering a range of sectors from health tech to web development and finance, the chosen startups operate in diverse fields. Loïc Oyono Eboutou, Deputy Director of Kufanya, emphasized, “We have a wide array of industries. We haven’t focused on a specific sector; it could be health tech, web development, fintech, or the environment. Our aim isn’t to center on one domain. The intention is to open a door, a bridge to sub-Saharan African markets that many Tunisian entrepreneurs struggle to access.”

He added, “As it’s often said, Africa is the future. By 2050, one in four people on Earth will be African. Therefore, we Africans should benefit from this rich ecosystem, from the youth with an average age of 18 — in contrast to the US, where it’s 38. We’re talking about an internet penetration rate of nearly 40%. So, it’s a highly expansive target, and it’s advantageous for us Africans to leverage this through South-South collaborations.”

The Cameroonian engineer mentioned that the Ubuntu program arose from a recognized need in the Tunisian ecosystem. With a focus on sub-Saharan African markets, Tunisian companies and startups desire to explore opportunities in these different countries. However, they often approach this endeavor inadequately due to a lack of expertise or unfamiliarity with market specifics. Eboutou explained, “Before leading an incubator, I was an entrepreneur myself and initially a student on Tunisian soil. I spent five years studying here, and interestingly, during that time, every year I would have at least five Tunisian companies contacting me to try to enter sub-Saharan African markets, especially my own country, Cameroon. Among these companies, perhaps 2 or 3 would attempt, but fail in their endeavors. It’s precisely for these reasons that we conceived this program.”

He further added, “People somewhat venture into sub-Saharan Africa with closed eyes, yet these are distinct markets with their own unique realities. Particularly, it’s the targeted market data that isn’t truly known by startups aspiring to internationalize in sub-Saharan Africa. It’s a complex set of factors that contribute to their major struggles in this market. And that’s where the Ubuntu program comes in.

Support Offered by the Accompaniment Program

To address the gaps and challenges of accessing sub-Saharan markets, the incubator proposes not only a mentorship and partnership program but also a training and awareness program for the Francophone African markets. “Of course, this will also involve gatherings for a platform to share experiences between Tunisian startups and others from sub-Saharan Africa.”

Indeed, to achieve success, the incubator leverages its network: African incubators, as well as ambassadors and entrepreneurs who have succeeded in establishing themselves. Eboutou added, “There will be training sessions with incubators that are already present in various countries. There will also be one-on-one coaching sessions led by Tunisian experts. Additionally, there will be sessions with various ambassadors with whom we have connections, as well as individual sessions with incubator leaders from these different countries.”

Thus, the program’s primary objective is to provide these startups with targeted market data, enabling them to undertake commercial projections and a certain level of implementation. Upon arriving in these countries (the program also covers amenities and transportation costs), entrepreneurs can solidify these aspects through a comprehensive market study. They also gain the opportunity for fiscal and legal consultation regarding the local context, facilitated by professional networks present on-site.

Ultimately, startup founders can establish service sales and marketing agreements for the products and services they intend to offer. “It’s important to note that we won’t sell the product or service on their behalf in these markets; we provide them with the tools to do what they know best,” Eboutou concluded. It’s worth noting that Kufanya, which supports migrant entrepreneurs in Tunisia, has been present in Sfax since 2019. It operates a shared space allowing project initiators access to lodging services. To date, the incubator has successfully implemented three incubation programs, including one dedicated to supporting vulnerable migrant women by establishing income-generating activities. Since its inception, the incubator has trained 100 entrepreneurs, with 30 companies introducing marketable services in the local market. Eboutou explained, “Our intention is to initiate a broader discussion because it’s not solely about aiding startups seeking internationalization. We also aim to establish an investment fund dedicated to these entities, as, beyond the lack of terrain knowledge and training, there is also a cost issue.”

Tunisia startups African Tunisia startups African Tunisia startups African

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard