The Tony Elumelu Foundation (TEF) and Google have announced the launch of the Google.org Fellowship, which will provide one million more Africans access to the TEFConnect platform, which connects entrepreneurs with tailored tools, market partnerships, coaches, and investors.

The announcement was made during a TEF headquarters ceremony in Lagos, Nigeria, attended by a number of African political and economic leaders.

This is the first Google.org Fellowship in Africa, and nine full-time Google employees will collaborate with the foundation to design and build an updated version of the TEFConnect platform, including software engineers, UI/UX researchers, and policy experts.

TEFConnect is home to over one million African entrepreneurs and provides small firms with personalized tools, market partnerships, and access to coaches and investors.

“We are pleased to continue to share our unique ability and platform to identify, train, mentor and fund young entrepreneurs across Africa with like-minded institutions like Google.org who share in our commitment to empower young African entrepreneurs. It will be exciting to see the ways in which the refreshed TEFConnect platform will continue to provide a space for growth, personal development, and meaningful exchange for African entrepreneurs,” said the co-founder of the Tony Elumelu Foundation, Dr Awele V Elumelu.

Jen Carter, global head of technology at Google.org, said she was delighted to kick off its first Google.org Fellowship in Africa. 

“The Tony Elumelu Foundation does so much to empower African entrepreneurs, and we are thrilled to be able to lend the expertise of Googlers to expand the reach of the TEFConnect platform,” she said.

Simplifyd, a Nigerian startup aiming to become Africa’s go-to platform for data-free internet access, has raised US$500,000 in pre-seed funding and announced the launch of ZeroData, its toll-free internet application platform.

Simplifyd, founded in 2020 by Tomi Amao, Mayowa Amao, Sam Keiru, and Abiola Fajimi, aims to address the issues of obtaining affordable data in the face of the staggering rate of data consumption, particularly among mobile and web app users in emerging countries across Africa.

The startup has raised over US$500,000 in pre-seed funding from Future Africa and Y Combinator, the cash from the latter coming after Simplifyd was selected for the W22 batch of the renowned Silicon Valley-based accelerator alongside a host of other African startups.

It has also announced the launch of ZeroData, which co-founder and CEO Tomi Amao said was created out of a strong desire to solve Africa’s worrying data affordability challenge, alongside the drive to support greater digital inclusion across the continent. 

“ZeroData is designed to cater to both users with active data plans and those with none. For users with an active data plan, their data plan isn’t consumed when they make use of the application. Our app also enables users with no active data plans to enjoy uninterrupted access to the internet apps listed on the platform,” he said.

“For us, the realisation that Africans pay the highest rate for mobile internet in the world proportional to income is worrying. This is a significant challenge that we are happy to solve sustainably through the launch of ZeroData. We are creating a convenient platform to access the internet away from the challenge of huge data consumption for the continent’s growing number of Internet users.”

Users only need to download the ZeroData app, which is available for both Android and Windows (MacOS and Windows). This gives them data-free access to the apps and websites on the list.

The ZeroData platform also allows businesses to bundle data with their apps for the purpose of making them accessible and data-free to those who need it most.

Lucky, Egypt’s leading app for credit products, offers, and cashback rewards, has raised $25 million in funding.

Nclude by Global Ventures – the new Fintech fund recently announced by its lead investors Banque Misr, National Bank of Egypt, and Banque du Caire – Egypt’s largest national banks – and Global Ventures, a leading MEA focused venture capital firm – led the funding round, which is Egypt’s largest Fintech Series A round to date.

Major investment also came from PayU, the Prosus-owned Fintech firm specialising in emerging markets; Endeavor Catalyst, Venture Souq, Oman Technology Fund, Arzan capital and Disruptech Ventures, who join existing investors and significant shareholder Lorax Capital Partners.

Proceeds will be used to increase market leadership and build out Lucky’s credit capabilities – as customers become more educated and experienced using credit.

Founded in Egypt in 2018 by Momtaz Moussa and Ayman Essawy, Lucky has grown rapidly since inception and has the largest merchant network in Egypt. The Company’s mission is to revolutionize how MENA’s population shops, pays and saves. Lucky brings seamless financial flexibility and increased spending power to MENA, where many consumers have not traditionally had access to credit.

Lucky has over eight million active users and connects them to a growing range of easy-to-use credit products, discounts and cashback rewards, which can be used in person and virtually with tens of thousands of local and global brands. The company has seen 250% year-on-year growth in gross merchandise value, with great feedback, including an App Store award from Apple for best apps in Egypt. It also recently expanded into Morocco and is exploring further regional expansion.

“We are delighted to complete this $25 million fund raise. The MENA region’s huge unbanked, young population and cash-dominated economy is a significant market opportunity for us. With the backing of such esteemed investors, we are perfectly positioned to build on our momentum, cement our position as market leader and expand our current offering.” Momtaz Moussa, co-founder of Lucky, said.

“We are honoured to be Nclude by Global Ventures’ first investment, in what is a momentous strategic development for Egypt. We look forward to continuing our rapid growth, increasing our eight million-strong active user base, and building out our credit capabilities with the support and guidance of our investors.” Ayman Essawy, co-founder of Lucky, said.

 “We are delighted to have led Lucky’s latest funding round. Nclude by Global Ventures is focused on accelerating Fintech Innovation and driving Financial Inclusion via partnerships with the leading Fintech and fintech enabled companies.” Eslam Darwish, General Partner of the Nclude FinTech Fund, commented.

“Lucky fits that descriptor perfectly and is a prime example of Egyptian fintech innovation that delivers a differentiated and scalable customer experience. Momtaz and Ayman’s vision really resonated with us and we are excited to support them on their mission.”

The Katapult Africa Accelerator Programme, which will look to accelerate and invest in agri-tech and climate-tech startups, has been launched in partnership with the Tony Blair Institute for Global Change, Norrsken, and Smart Africa.

The Katapult Accelerator, based in Norway, has invested in a number of African startups and launched spin-offs like Katapult Ocean and a climate-focused program.

The three-month Katapult Africa Accelerator Program will operate both physically and digitally, with the goal of accelerating and investing in up to 15 startups. In addition, a 30-seat pre-accelerator program will be offered.

Agricultural and climate-tech startups, as well as supply chain services, distribution and logistics, and sustainable infrastructure startups, are strongly invited to apply.

“As Katapult launches the Africa Accelerator Programme, the Katapult Africa team here in Kigali, Rwanda are all very excited to be working with our program partners TBI, Smart Africa and Norrsken, as well as engaging with companies, different ecosystem partners and corporate partners,” said Philip Gasaatura, Katapult country director for Rwanda.

“We believe African startups can help solve some of the big challenges Africa faces today as one of the fastest growing markets and this we believe is a great investment opportunity and so our goal is to find, invest in and help scale some of the most exciting tech companies with the most impact potential on Africa’s food and agri value chains, across Africa.”

Egypt’s largest national banks – Banque Misr, National Bank of Egypt, and Banque du Caire – and Global Ventures, a leading MEA-focused venture capital firm – announce the launch of Nclude by Global Ventures, following approval by the Central Bank of Egypt (“CBE”)

Nclude by Global Ventures will focus on accelerating Fintech Innovation and driving Financial Inclusion, which is a bold and unique step in the country’s strategic ambition to help young entrepreneurs who will construct the Egyptian economy of the future.

Banque Misr, as an Anchor Investor, and National Bank of Egypt and Banque du Caire, as Strategic Investors, are leading the inaugural investment, which amounts to $85 million in the Fund. 

eFinance Investment Group and Egyptian Banks Company are among the other investors. The Fund is also expected to receive additional funding from well-known regional and worldwide investors.

The Fund has already made its first investments in four companies. These are:

Khazna: A financial Super App that offers convenient, technology-driven financial solutions to underserved consumers

Lucky: Egypt’s leading consumer fintech app, offering instalments, offers, cashback rewards and credit.

Mozare3: meaning farmer in Arabic, is an Agri-fintech platform that provides smallholder farmers with direct access to inputs financing, markets, and hands-on technical support.

Paymob: A leading digital payment service provider

In addition to investing in existing start-ups, the Fund will be supported by Shipyard Technology Ventures – a global venture builder – who are bringing their world-class development capabilities to the Egyptian market to help create Fintech start-ups that address local and regional opportunities.

Mr. Tarek Amer, Governor of the Central Bank of Egypt, said:“This step is an implementation of the directives of President Abdel Fattah El-Sisi to support innovative youth in Fintech and Fintech-enabled sector, as well as CBE’s FinTech & Innovation Strategy which aims to create an enabling environment for the FinTech industry and adopt more innovative FinTech solutions capable of delivering banking and financial services to all segments of society more easily and at less cost, as a crucial step to transform Egypt into a regional center for the FinTech industry in the Arab World and Africa.

“The aforementioned strategy is based on key integrated pillars, which are represented in supporting FinTech talents and young entrepreneurs, providing a stimulating legislative and regulatory environment for the FinTech industry, in a way that achieves a balance between financial stability and unleashing innovation. In addition to meeting the market Fintech demand areas and adoption of new FinTech solutions, and increasing investments directed to FinTech & FinTech-enabled solutions which is considered as one of the top priority pillars.”

Mr. Mohamed El-Etreby, Chairman of Banque Misr, said: “Banque Misr’s contribution to this Fund is a reflection of our commitment to keeping up with the pace of global developments in Fintech – as it is the future of banking and financial services in Egypt and the world. This Fund will achieve many gains for the Egyptian Economy by supporting the country’s young Fintech talent and creating the ideal environment for them to develop innovative solutions that will help deliver banking and financial services to all segments of society in a more efficient and affordable manner.”

“This is an important step to transform Egypt into a Regional center for the Arab and African Fintech industry. It will also help raise financial inclusion rates and accelerate Egypt’s digital transformation, which is integral to delivering the Egypt Vision 2030.”

Mr. Hisham Okasha, Chairman of the National Bank of Egypt, commented:“The Nclude Fund aims to sponsor early-stage Fintech startups, and young Fintech talent, who will help build the Egyptian economy of the future. In addition, the Fund targets creating an appropriate environment to attract, nurture, and localize talent in the Egyptian market to build creative Fintech solutions, while promoting innovation in the digital banking and financial services sector, to reach all segments of society with ease and efficiency.”

“This strategy will accelerate digital transformation and drive financial inclusion, in line with the Central Bank of Egypt’s pioneering vision to foster innovation in Fintech and Fintech-enabled sectors to ultimately achieve the goals of Egypt’s Vision 2030 and aligns with NBE’s strategy on digital transformation.”

Mr. Tarek Fayed, Chairman and CEO of the Banque du Caire added:”The launch of this Fund creates a unique opportunity for investors, and entrepreneurs to come together and create a scalable and affordable financial technology solutions. Such solutions will not only improve the quality of current services but will also create new services using cutting edge technology that leverages a data-driven approach to attract the underbanked and financially excluded segments of society.”

“This Fund has a strategic developmental angle that will benefit the Egyptian economy as a whole and position the country as a Regional Fintech Innovation hub, in line with the CBE’s strategy.” 

Basil Moftah, Partner at Global Ventures, commented: “We are delighted to have the overwhelming support of all our investors in this Fund, and thankful for their trust. Over the past few years, we have had the privilege of being part of the journey of many entrepreneurs across MEA, with a particular focus on the Fintech sector and Egypt as a key priority market.”

“Egypt’s huge unbanked, young population and cash-dominated economy offers strong opportunities for local and regional Fintech and Fintech enabled companies who continue to witness exponential growth in the market. We look forward to partnering with all stakeholders in the ecosystem to continue to fuel this growth and transform Egypt into a Regional center of excellence for Fintech innovation.”

Eslam Darwish, General Partner of the Nclude FinTech Fund, added: “Over the past few years, Egypt made a quantum leap forward by becoming home to a vibrant entrepreneurial ecosystem with Fintech at its heart. Thanks to progressive government regulation, and an increasing partnership with financial institutions, Fintech startups, are playing a pivotal role in transforming Egypt into a financially inclusive digital economy via Fintech innovation.”

  “We are incredibly grateful for the opportunity to partner with the local and international investor community to provide ambitious founders the tools they need to succeed and compete at local, regional and global levels, while contributing to Egypt’s socio-economic development and prosperity.”

Betacube, a Tunisian venture capital firm, has started the second edition of its Women in Fintech pre-incubation program, which is meant to help ambitious entrepreneurs in shaping their ideas and establishing long-term businesses.

The six-week Women In Fintech program, which is run by Betacube in partnership with the US Embassy in Tunisia, enables Tunisian women to gain the expertise and support they need to take their project idea from concept to prototype. Five of Tunisia’s nearly 40 fintechs were founded or co-founded by women.

Participants will receive coaching from Betacube professionals, as well as increased visibility and prospects. They will have started developing and progressing on the execution of their ideas by the end of the program.

Applications are open here until March 31.

Buy-Now-Pay-Later (BNPL) firm Lipa Later Group has appointed Flutterwave CEO and Founder, Mr. Olugbenga ‘GB’ Agboola as a member of its advisory board.

A highly regarded serial entrepreneur with two successful exits under his belt, Mr. Agboola is a software engineer with an MBA and a Master’s degree in Information Technology Security and Behavioural Engineering.

Lipa Later’s CEO, Eric Muli commented: “Olugbenga Agboola is one of Africa’s foremost fintech experts and we are huge admirers of the work he has done on the continent. GB joining us is an incredible honour and a testament to the work we are doing here at Lipa Later.”

Speaking about the appointment, Mr. Olugbenga Agboola said: “I have followed Lipa Later for some time now and I am impressed by its continued innovation, growth strategy and broad vision for Africa. ” He added, “The highly innovative and forward looking team in place has built a robust and scalable platform that positions Lipa Later to capitalize on the untapped market opportunities and lead the BNPL market across the continent.”

Mr. Agboola  founded Flutterwave in 2016 to bring the convenience of new features like digital payments to consumers across Africa and beyond. Today the firm is valued at more than USD $3 billion after raising USD $250 million in a Series D funding round..  Some of Flutterwave’s investors include B Capital Group, Alta Park Capital, Whale Rock Capital, Lux Capital, Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital, Salesforce Ventures. Flutterwave is headquartered in San Francisco, California with operations in Nigeria, Kenya, Ghana, South Africa and seven other African countries. He’s had 2 exits before founding Flutterwave.

With Mr. Agboola as an advisor, Lipa Later hopes to take Africa by storm. The firm recently raised USD $12 million from investors with a view to expanding aggressively beyond Kenya, Uganda and Rwanda.

Chargel, a trucking platform co-founded by Moustapha and Alioune Ndoye has raised a $750K pre-seed round to jump-start its operations in Senegal. The round, a mix of equity and debt, saw the participation of Century Oak Capital and Logos Ventures alongside prominent angel investors from Senegal, Kenya, Ghana and Nigeria.

Chargel’s Co-Founder and CEO Moustapha Ndoye said the funds will be used to get the company’s operations off the ground and prepare the company for a seed round later this year.

“We are super excited by the response Chargel has received from both shippers and transporters during its pilot phase and can’t wait to embark on our mission to make trucking in our region more efficient, reliable and transparent. I can’t thank our investors enough for their trust in us and their faith in our startup” he said.

Logos Ventures’ Founder and Managing Partner Raja Kaul said ”We are excited to back Moustapha and Alioune as they work to transform the trucking sector in Senegal by driving new efficiencies for customers and transporters through the Chargel platform. Based on their extensive entrepreneurial experience founding and exiting Teranga Solutions to HotelOnline as well as working at Senegal’s first unicorn Wave Mobile Money, we strongly believe that Moustapha and Alioune are positioned to build Chargel into a leading logistics marketplace in Senegal, and eventually across West Africa.”

Chargel brings the offline operations of trucking online by matching the shippers to the right transporters at the right price and by reshaping the infrastructure around trucking to facilitate payments, fuel management, insurance and other services.

The startup is building the largest trucking network in Senegal making it easier for thousands of shippers to connect with transporters while also enabling transporters to maximize the capacity of their trucks.

Chargel’s robust platform provides reliability, efficiency and a great user experience to both the carriers and the shipper on its network.

Samsung Electronics East Africa held its first strategic partner summit at the Villa Rosa Kempinski Hotel, which was attended by key Samsung distributors and dealers from around Kenya.

Mr. Tae Sun Lee, the newly appointed Managing Director of Samsung Electronics East Africa Limited, hosted the first partner summit.

The summit’s major goal was to bring together important stakeholders to further underline the need of building ties with Samsung in order to provide consumers with the greatest possible experience. Samsung’s business is driven by technological advancements all over the world.

The event featured both the Mobile and Consumer Electronics business groups’ product lineups for 2022.

In terms of emerging trends, the global business direction is shifting its focus to the millennial and Z Generation.

The highlight of the summit was the presentation by Samsung Managing Director Mr. Lee, who showcased the Samsung’s business strategy for the East African market that involves winning the mind share of local consumers and building partnership with our valued partners and ultimately making Samsung the most preferred and beloved brand of Africa.

The event also saw presence from leading operator Safaricom PLC management. Commenting on the forum and Safaricom’s continued partnership with Samsung, Peter Ndegwa, Safaricom CEO said: “At Safaricom, our purpose is to transform lives. Our commitment is to ensure that no one is left behind in the digital revolution as we have witnessed a correlation between increase in smartphone usage and empowerment of communities. That is why we partner with companies like Samsung who make this possible through their array of devices, which enable Kenyans to enjoy the transformative power of the internet.”

Samsung Electronics officially launched its new set division, which combines its mobile and consumer electronics businesses into a single unit, as DX, short for device experience, underscoring its emphasis on the user experience of various Samsung products. Under the DX Division, the Company expects to strengthen synergies among the diverse businesses and create differentiated products and services.

“As Samsung it is important that we have one voice as we roll out our strategies going forward. The market dynamics are continuously changing and we also see the need to adjust our sails and require our key stakeholders to share that same vision with us. The summit is not only to appreciate our partners but to keep them abreast on all that we are doing and why we are doing it, so they can be a part of that voice,” stated Mr. Tae Sun Lee, Managing Director, Samsung Electronics East Africa.

The Samsung summit conference saw more than 100 dealers come together to discuss the market needs and how together with other stakeholders they can grow the Kenyan market.

Engen, a South African petroleum company, has launched its Pitch & Polish pitching competition, in which 16 entrepreneurs will compete for a first prize of ZAR1 million (US$67,000).

Pitch & Polish, now in its 12th year, went totally virtual for the first time in 2021, when Pieter du Plessis and Viljoen de Kock, owners of GUDGU, from Cape Town, took home the top prize.

This year’s competition will be held exclusively online, with candidates having access to a planned learning curriculum as well as their own business mentors. The entrepreneurs will be assisted in honing and improving their pitches throughout the program.

The winning company will secure a grand prize of ZAR650,000 (US$43,000) in cash and a Raizcorp incubation bursary of ZAR350,000 (US$24,000). Entrepreneurs with a registered business from across South Africa can apply here until April 11th.

Egypt’s Welnes has secured a $300,000 seed round with participation from Samurai Incubate, UI Investments, and a group of angel investors in January 2022, led by Flat6labs.

Welnes is a community app that connects users with top-tier nutritionists and trainers to help them achieve their weight-loss and lifestyle objectives.

Welnes was founded in 2020 by serial entrepreneurs Amr Saleh (CEO) and Amr Diab (CTO), both of whom have product experience in industries such as Fintech, IoT, and blockchain.

Welnes provides individualized nutrition and training plans for a variety of lifestyles, including Keto, Low Carb, Plant-Based, and more. The programs are delivered in a group setting, which organically encourages other users, dietitians, and trainers to participate.

The app also features a robust gamification model that keeps users motivated and committed to following through on their programmes. To date, Welnes has helped over 15,000 users who have uploaded an impressive 500,000 meal pictures and made over 5,000,000 likes.

“Our customers love the product, they come for the nutrition and workout plans and they stay for the community”, says Amr Saleh, co-founder and CEO of Welnes. “We have a very strong technical team who built a great product and we can’t wait to spread it out across all segments of the market”.

Welnes’ current round of investors all share an appreciation for the app’s mission statement —

Dina el-Shenoufy of Flat6labs comments, “As seed investors, we understand that our biggest qualifiers for assessing successful ventures are mainly the team and market potential. Having invested alongside Amr before, we are quite confident of his ability to execute on capturing the nascent but strongly growing market of healthy living in the Middle East. Amr and his stellar team are developing the perfect platform to aid clients in achieving just that”

Risa Takeda of Samurai Incubate notes, “Staying healthy is one of the most important things in your life yet not many people realize it until they face a problem. Not everyone does exercise, but everyone eats. We think Welnes’s community-focused approach will let more people increase awareness of their bodies by taking care of what they take in everyday. We are excited to join the journey of making Welnes a big community to empower people.”

Tarek Roushdy, CEO of UI Investments, concludes, “I am really pleased to be part of Welnes’ journey. Their mission to have a fit body, which is part of my passion in promoting the healthy lifestyle, then their strong and powerful team, the leadership in place, in addition to the traction they made so far and the huge growth they plan to achieve in the next couple of years, all were some of the various reasons brought me on board This journey … I am looking forward to enjoying it with the Welnes team.”

The funds from this round will be spent on expanding the team and preparing the company for GCC expansion by 2023.

Jiji, a general classifieds player in Africa, which acquired Cars45, the online car auction service, has announced that it is changing the Cars45 brand name to Jiji Cars in a bid to consolidate and strengthen Jiji’s positioning in the car dealership market.

The move came from the fact that car sales and inquiries are among the top five reasons people visit the Jiji site. Apart from real estate, the search for affordable cars constitutes a primary reason people visit the platform. n Nigeria, Kenya, Ghana and several other markers across Africa. Last year, Jiji revamped its property section to ensure safety for all property buyers and drive incremental traffic and sales for property sellers in their platform.

According to Jiji Cars COO Maxim Makarchuk said,“ Since launching in 2014, Jiji has connected buyers to sellers in Nigeria and has helped facilitate the exchange of goods and services with ease and convenience. In eight years, Jiji has grown into a team of over 1000 people with 12+ million unique monthly visits, 4+ million active ads with a combined value worth $10 billion. Combining Jiji’s leading position with the Cars45 model brings to the market a new incredible story called Jiji Cars.
Our mission is to make the process of buying & selling cars fast, easy and secure through the digitalisation of automotive trading. As a result, every car seller can get the best price and immediate payment for his car on the same day he decided to sell it through a hassle-free and trusted selling process with Jiji Cars. On the other hand, every car buyer can use an inspection report based on 200+ factors to get a verified car to meet his expectations.”

Jiji Cars offers sellers prompt car sales services by giving good exposure to thousands of dealers who are willing to buy the cars on the same day. Also, sellers are assured of immediate payment following successful transactions. Compared to traditional methods of selling cars, Jiji Cars has a verified process for selling vehicles through online auctions to thousands of dealers. There is also the Jiji Cars Marketplace, where cars not sold during the auctions are posted for visibility to millions of buyers and an opportunity to sell faster, at  sellers preferred prices.

After Jiji took over OLX SSA from the Naspers Group as Walie Holdings, acquiring Cars45 was its next possible bet and Jiji didn’t disappoint. The firm took over Cars45 in Kenya, Ghana, and Nigeria to give auto buyers and sellers a new level of trade experience. During the purchase, Anton Volyansky, CEO and co-founder of Jiji said Jiji was “looking forward to creating a new advanced experience for Cars45 users. Undoubtedly, our collaboration on future products and services will bring additional value to the consumers. For Jiji, it’s the first bold step into the transactional business model and an important foundation for building the future of the company.”

The rebrand is a great initiative. For buyers, Jiji Cars offers a safe and trusted platform to buy verified cars. They make the transaction process easy by giving buyers access to thousands of verified cars. There is also the consumer financing option which enables buyers to purchase cars on a loan, with low interest rates and tenure up to 36 months. With this option, anyone can be a car owner.

Speaking on this new development, the CEO of Jiji, Anton Volianski, affirmed that the company is happy with Jiji Cars and looks forward to more outstanding achievements in the future.

“We have observed that people come on the platform looking to buy cars. They seek to avoid the high transactional costs from traditional car dealers and want fast and efficient transactions. Most times, they also want to meet one-on-one with the car sellers. With Jiji Cars, we handle car sales faster and more efficiently. We also deliver value for our buyers and sellers through our digitised processes, while working to become the recognized market leader,”  Volianski said.

Why Sell and Buy your cars through Jiji Cars?

This is exciting news for the online public and car enthusiasts as there is much confidence that Jiji Cars will improve and enhance the quality of car dealerships in Nigeria and in its other markets.

Jiji’s impeccable record in delivering efficient customer service has made the company a leader in the African e-commerce space. In time, we are sure that this equity will transfer to the new acquisition – Jiji Cars, which will become known as the Number one marketplace for buying and selling verified cars in Nigeria and Africa.

“Jiji Cars provides value and efficiency to customers. Sellers can sell their cars faster and get paid immediately, same day leveraging millions of buyers on the Jiji platform. Our processes are digitised to make buying and selling of cars fast, safe and easy for our customers. Buyers have access to thousands of verified cars on the platform, which have undergone inspection by 200+ parameters to confirm their true state. We also have inbuilt processes to protect buyers interests while ensuring that the sellers get commensurate value for their merchandise immediately. At Jiji Cars,there’s room for fair and easy negotiation between buyers and sellers. The platform is a one-stop-shop for all car sales and purchase services,” Jiji cars, Director of Africa Operations Jiji, Yuliy Shenfled said.

Jiji recently acquired Ghanaian-based classifieds site Tonaton in a consolidation move in Ghana adding to its leading market positions in Kenya, Uganda and Tanzania, with some 12 million users making up a monthly active base among all geographies.

d.light, a leading innovator of solar energy products, announced today that it had raised US$7 million in equity financing from OP Finnfund Global Impact Fund I.

This latest round of funding will help the company expand its solar and Pay-Go consumer finance businesses across Africa.

Commenting on the investment, d.light co-founder and CEO Ned Tozun said, “We are excited to have OP Finnfund Global Impact Fund I as a d.light shareholder. The fund’s alignment with our mission and commitment to job creation and development makes them an ideal partner for d.light as we begin our next phase of growth.”

“We have great confidence that we will continue to accelerate and deepen this impact, as we expand our geographic footprint and product portfolio to delight our customers. The future is truly bright for d.light and the off-grid solar industry as a whole.”

“OP Finnfund Global Impact Fund I targets substantial positive impacts on, for instance, climate change, food security, gender equality, and the availability of financing”, says Finnfund’s Associate Director, Head of
Energy and Infrastructure portfolio Jussi Tourunen.

“The way that developing countries meet their rapidly growing energy demand will be crucial for global efforts to curb climate change and we are happy to support d.light’s expansion with this investment.”

d.light has delivered solar energy to over 125 million people in 70 countries since its inception in 2006.

Their diverse product portfolio includes everything from inexpensive portable solar lanterns to solar home systems that can power several lights, phones, and other appliances, even a flat-screen television.

Solar solutions from d.light have won numerous international prizes for innovation and design, and they are marketed in over 30,000 locations throughout the world, making it the largest existing distribution network for these types of products.

Since its inception, d.light has placed a significant emphasis on product quality and customer service, resulting in a devoted customer base in emerging regions. The solar startup continues to sell hundreds of thousands of units every month financially while maintaining high quality.

A strong team of highly experienced, internationally recognized leaders and extremely motivated, skilled local staff lead the company.

Mr. Tozun and Mr. Goldman set a lofty aim for the solar startup when it was founded: to reach 100 million people by 2020. This objective was met. d.light is embarking on a new mission to impact 1 billion lives by 2030.