Funding Opportunities
- 2020 MTN Business App of the Year Awards
Up and coming and digital innovators are called to apply for the annual MTN Business App of the Year Awards. The competition is an annual event intended to mentor and upskill aspiring talents for a career in app development. The MTN Business App Academy will provide a six-week online coding programme. Three of the top apps will be assisted to develop their apps into full-fledged solutions. The overall winner will win a trip valued at R200,000 to a tech-related event. App developers can submit their entries before 29 September 2020 here.
- Green Agric Business Fund
Start-ups in agribusiness are called on to apply for the Green Agric Business Fund. The funding initiative is designed to help agric start-ups specializing in post-harvest loss, climate smart farming, urban farming, seed and soil improvement, precision farming, agtech, access to market and agro commodity trading. An equity financing of $5,000 will be granted to six youth-led agribusinesses. Applicants must be citizens of Nigeria or Uganda. The deadline for application is 27th of July. For more information, please visit the appication portal.
- Institut Français announces Visas for Creation
Curators and artisans are called on to apply for the Visas for Creation program. The program focuses on bringing to limelight artists in Africa and the Caribbean who propose a residency project that will take place in France or its overseas territories. Selected artists will benefit from air fare coverage, living allowance of €1,000 per month and repatriation insurance. The award will last for 2 months. To apply, click here.
- Online Seedstars World Competition for Start-ups
Seesdstars, is a Swiss-based private group of companies that seeks to impact the lives of citizens of emerging economies through technology and entrepreneurship. It assists networking amongst stakeholders in these places, enhancing their growth by fostering partnerships with its public and private partners and investing in top entrepreneurs.
Seedstars’ team is searching for promising start-ups from over 90 emerging economies from June to November, 2020. The start-ups will receive training on leveraging investment opportunities. They will also participate in local, regional, and international competitions and the winner will be awarded $500,000 in equity investment. Interested start-ups can apply through the online portal of Seedstars’ World competition.
- Seedstars Migration Challenge 2020
Socially driven early-stage FinTech, CivicTech, Human resources, EdTech and civic tech start-ups are called on to apply for Seedstars Migration Challenge 2020. The start-ups should have the potential to narrow the communication gaps in global migration systems. Each start-up should not have been in existence for more than four years. Start-ups will have the opportunity to represent their countries in a global competition. They will have networking opportunities and world class mentoring on migration debate. Interested start-ups can apply here.
- Olam Prize for Innovation Programme 2020
One of the leading agribusinesses dealing with supply of feed and ingredients, Olam International, in partnership Agropolis Foundation is searching for disruptive innovative strategies which will transform the agricultural sector. Academic institutions, civil societies and the private sector organisations can apply for this prize award. The winner will receive $75,000. To apply, please click here . The deadline for application is November 11th
- Mastercard Start Path Global 2021 programme
Mastercard’s global start-up annual engagement programme, Start Path is inviting late-stage start-ups to compete in the 2020 version. The programme will help selected start-ups maximise their potentials by having access to Mastercard experts, resources, technology and markets. They will also benefit from a six months virtual mentoring programme directed at the needs of their companies. There will be no initial equity investment but there will be an option to participate in further rounds of fundraising by the companies. next round. Interested applicants should visit this website to apply. Deadline for application is July 24th.
Funding News
- TradeDepot raises $10 million in pre-Series B equity round
TradeDepot, a Nigerian based B2B e-Commerce platform for consumer goods in Africa has raised a further $10 million in a pre-Series B equity round. The equity round was co-led by Partech, International Finance Corporation (IFC), Women Entrepreneurs Finance Initiative (We-Fi), and MSA Capital. It is significant addition to the $3 million raised in the Series A led by Partech in 2018. The company said in a statement that the new investment will be used to continue its integration of the fragmented informal retail supply chain in Nigeria and to further expand into other African cities. For more information, please visit the website.
- DisCos seek CBN funding for massive roll-out of meters to consumers.
A Central Bank-funded massive roll-out of meters will expedite the efforts to achieve the full take-off of the proposed Service Reflective Tariff (SRT), Electricity distribution companies (Discos) have suggested. The funding would help ensure that all electricity customers are adequately metered under the Meter Asset Provider (MAP) regulation. For more information, please visit the website.
- Dangote Sugar completes acquisition of Savannah Sugar Company Limited
The majority of the shareholders of Dangote Sugar have voted in favor of the acquisition of Savannah Sugar. The move is to enhance Dangote’s production capacity and increase its market share. For more information, please click here.
- Franc raises $300 Seed Funding
South African Fintech start-up, Franc has secured up to $300,000 seed funding in the first half of 2020. “We are still in the process of trying to raise further funding and confirming new investors as we go along. Most was committed pre-COVID, but we have also got two new investors on board in the last two months” said Patel, one of the founders of the fintech start-up. The investment will be used for further growth by Franc, which since its public launch in October of last year has had 14,000 downloads. Its user base has doubled in the last three months, and a total of US$160,000 has been invested through its platform so far. For more information, please visit the site.
- Mali’s Solar Energy Startup SolarX Secures Series A Funding from Energy Access Ventures
SolarX, one of the providers of clean and efficient solar solutions in West Africa has secured Series A funding from a venture capitalist firm called Energy Access Ventures which invests in renewable energy across Africa. The investment will enable SolarX to expand its services in West Africa with the planned development of the solar market in Mali, Burkina Faso, and Côte d’Ivoire. In these countries, SolarX will finance and install solar photovoltaic systems mainly for businesses. For more information, please visit the website.
- Tunisia’s Chamber of Commerce To Fund Startups Under New Scheme
The chamber of commerce and industry in Sfax, Tunisia is searching for 25 young business consultants to participate in MEDSt@rts project, funded by the Programme ENI CBC Med 2014-2020. Submission of application will be through Sfax website. Deadline for application is August 15. For more information, please click here.
- Tunisian Entertainment Startup Galactech Secures A Six-figure Pre-Series A Funding
Galatech, a Tunisia-based entertainment content creation and distribution company has just closed a six-figure pre-Series A investment round, thanks to the Oman Technology Fund (OMF) and other angel investors. The funding will allow Galactech sign contracts with 30 international telecom operators to expand its reach and will be used to launch a series of gaming services in the MENA region. The funding will also facilitate the startup in exploring “silk roads” by entering different global markets, particularly in the Africa and the MENA region. For more information, click here.
