Press Release
Startupbootcamp AfriTech Selects 11 Disruptive Startups for its Cohort 3
Startupbootcamp AfriTech Cohort 3 11 Disruptive Startups
Africa’s leading tech Accelerator, Startupbootcamp AfriTech, together with founding partner and leading telecom giant, Telecel Group have selected the participants of the much-coveted Accelerator Program, the Africa Startup Initiative Program (ASIP).
The intrinsic value of startups in Africa lies in their ability to build fast and effective solutions to pressing challenges. Over the years another key aspect has come to the fray; scaling across borders. The ASIP Accelerator has managed to help founders fine-tune their business models while also facilitating entry into new markets such as Senegal.
This has been possible through a historic partnership with DER/FJ, which was established to advance Entrepreneurship for Women and Youth in Senegal by the President of the Republic, His Excellency Macky Sall. Giving a keynote at the event, Senior Innovation Lead Adrien Schwarz said;
“We are impressed with the work that the ASIP and Startupbootcamp AfriTech are doing and are excited that there were three times more Francophone founders compared to the previous years. This validates the caliber of startups in Francophone countries and shows that their exposure to acceleration has improved. It is also wonderful to see the progress that the past Senegalese startups namely Proxalys, Parcsmart, and Yobante have made”
Founded by telecom giant Telecel, the Africa Startup Initiative Program (ASIP) aims to support the next generation of early-stage African tech startups that are disrupting key industry verticals that include FinTech, InsureTech, AgriTech, Climate-tech, eCommerce, Digital Health, and CleanTech, Mobility, Micro-leasing, and digitizing the informal economy.
Eleanor Azar, Executive Deputy of the Group and ASIP Director said: “We are very proud of the great effort that was put into this cohort 3 of the ASIP Accelerator Program powered by SBC AfriTech – we have exceptional startups with innovative and positively disruptive ways of treating the African challenges that they have set out to solve and build their Startups around. We are also exceptionally proud that the number of female founders has increased. And to those who did not make it into the top 10, we wish you all the luck, you should be very proud that you have come out on top of more than 2,000 applications received into the program in cohort 3.2”
Other partners include the Dutch Entrepreneurial Development Bank (FMO), AWS, Freshworks, Google, and Firstbase.
Participants will receive an intensive three-month coaching and support program to accelerate their growth and benefits worth $750,000 USD. Startups will also have access to the global Accelerator Squared platform which has a complete library of content, group workshops, 1:1 mentoring, collaborative sessions with Entrepreneurs in Residence, and invite-only discussion forums with founders from around the globe.
The program will take place in Dakar, Senegal and startups will be hosted at the D-hub, – a space commissioned by DER/FJ.
“We’re excited by the quality of startups in this cohort,” commented Program Director Henry Ojour. “About 30% of them have applied before, 60% applied on the recommendations of an alumni founder and 50% of them have monthly revenues above $50,000.00. Cohort 3 companies are building in over 12 verticals we have a 30% female-founder ratio. It’s going to be 13 weeks of far-reaching progress & impact.” He added.
We are honored to announce that the following startups will be joining the 2023 ASIP cohort 3:
Kyanda Africa is a revolutionary Kenyan fintech platform that provides businesses and individuals with convenient and reliable money transfer solutions. The startup has a network of agents, API gateway, and various access channels such as USSD, Mobile App & WhatsApp Chatbots making the services customizable dependent on the users’ needs.
PharmaServ is a Nigerian SaaS product, which automates the process of sales orders, tracking sales team performance, and reconciling incoming purchase orders, payments, and invoices for health brands. This is a labor-intensive process that is still predominantly manual for most local companies in emerging markets.
Sodishop is a Malian marketplace, an online sales and purchase platform, present in 4 countries in West Africa, we deliver thousands of orders per month across Mali, Senegal, Guinea, and Côte d’Ivoire.
BD Waste is a Ghanaian GreenTech startup that combines fintech and sustainability to recover Plastic waste from communities. Their Digicycle product allows customers to directly deposit plastic waste into their digital wallets and receive credit for it. This credit can be used to purchase data packages, airtime, food items, stationery, and health insurance.
Limawa, whose Senegalese founder operates in Côte d’Ivoire aims to tackle the issues of food conservation and transportation through solar-powered split air conditioners that can reach -2°C (designed in CI by our team). Limawa offers an innovative and cost-efficient alternative to industrial compressors for the cold chain industry. This solution is suitable for trucks, containers, and trailers.
Parkwell is a Nigerian online sharing platform that matches drivers with available, safe parking spaces and helps property owners list their parking spaces for optimum use. The digital parking platform integrates parking facilities and connects it to mobile for a seamless experience.
Jand2Gidi, also from Nigeria, offers ‘Logistics As A Service’ to B2B and B2B2C customers whose users are engaged in cross-border trade. They have built shipping APIs to provide the same hassle-free, transparent, and trackable shipping services to their B2B merchants to enable them grow faster after nearly a decade of building robust, cutting-edge freight forwarding and last mile delivery services
Moja Ride from Côte d’Ivoire has made its mission to enable better and cleaner mobility services to African cities by making financing easy and accessible for all transportation professionals. Drivers and transport companies can easily qualify for new car loans and car repairs by simply working with Moja Ride’s advanced digital fare payment and booking technologies.
SafeTrack is a Moroccan technology startup that allows a 75% reduction in water consumption for irrigation at 20% of the price of its competitors. Their IoT solution of geolocation and monitoring is 100% mobile, has simple maintenance and does not require any IT infrastructure. Composed of revalued smartphones and sensors and other affordable devices, and a cloud software platform developed internally.”
Chestify AI Labs from Ghana provides an AI platform that gives a highly accurate algorithm for diagnosing chest X-Ray pathologies. Two-thirds of the world’s population of over 5 billion people with no access to a radiologist and radiologic diagnostic support tools and Chestify’s mission is to aggressively tackle the socio-economic and health distress created by inadequate radiology Infrastructure and the presence of fewer radiologists in Africa.
Yoonema is a Senegalese social e-commerce platform that offers a frictionless, unique, and simplified experience to e-buyers who desire quality products and B2B players who offer a full global e-commerce experience to their clients.
The ASIP Accelerator powered by SBC AfriTech will culminate in a Demo Day on 25 May 2023 where startup founders will pitch their disruptive solutions to a broad audience of media, investors, corporate partners, and industry stakeholders.
Press Release
Dream VC Launches Its 2024 Venture Capital Fellowship Program
Dream VC, Africa’s foremost venture capital institute and investor accelerator announces the commencement of applications for the 2024 cohorts of their flagship African-focused Venture Capital training programs. Founded in 2021, Dream VC has trained more than 170 African and Africa-focused investment professionals across 3x successive cohorts and 5x programs, many of whom are currently leading and operating in different investment roles across over 65x African investment firms.
The annual remote venture capital fellowship programs provide the ideal launchpad for all aspiring and current investors to break into the African venture space, with an extensive curriculum, practical training, and direct exposure to world-class investors provided to both junior and more venture enthusiasts.
Dream VC’s tailored educational investor training programs are dedicated to creating the necessary pipeline of talent, the next generation of African-focused investors. “Investor Accelerator” and “Launch into VC” are Dream VC’s remotely delivered flagship venture capital fellowship programs, both run entirely virtually. The two concurrently running programs provide an ideal launchpad for all aspiring and current investors to learn, practice, and sharpen the skills needed to successfully find, invest in, and grow African technology businesses.
“The Dream VC fellowship was a big part of my journey into Venture Capital, it allows you to work alongside enthusiastic venture capitalists in the African VC ecosystem, gain hands-on experience in due diligence and deal sourcing, and build a strong network in the industry,” said Cinderella Alinaitwe, now an Investment Analyst at Pearl Capital Partners, a Dream VC alumni (2021 cohort).
“Dream VC is what I wished I had access to when I started my VC journey. The barrier to entry is high for anyone looking to break into the African VC industry, and going through Dream VC equips individuals with the necessary skills set needed to land that entry-level role at an African VC firm. With more African funds springing up every year, there is a huge opportunity to fill positions and get the best talent. The current gaps in the market for talent are huge, and Dream VC is plugging into a critical pain point. With Dream VC, you are sure of the best talents to hire from.” echoes Dayo Koleowo, General Partner at Microtraction and a past speaker at Dream VC’s venture capital training programs.
This year, Dream VC is back in full force with an expanded team and a success rate evidenced by the many funds that count Dream VC alumni on their teams. In 2024, the investor accelerator will accept applications for their now-familiar venture capital training programs from today, the 27th of February 2024. The two programs running for this year are:
- The 4-month-long Launch Into Venture Capital (LIVC) Program will run from June to Late September.
- The 5-month-long Investor Accelerator Program (IA) will run from June to Late October.
Dream VC’s focus on accessibility continues, and Dream VC is proud to share that they have once again secured a round of commitments from their partners and alumni to enable the Dream VC Access Foundation (Dream VC’s scholarship arm) to provide much-needed support and financial assistance to any aspiring investor-in-training, who makes it through the application process but cannot cover a portion of the program costs.
“Our commitment at Dream VC extends far beyond merely churning out a set number of investors within a specific timeframe. We’re dedicated teachers and builders, meticulously identifying and bridging gaps within the investor ecosystem across Africa. We firmly believe in the immense potential of African talent. Through our programs, we’re shaping future leaders poised to enter various roles within the venture capital landscape, from joining VCs and launching funds of their own to becoming angels, venture builders, and ecosystem enablers at ESOs,” remarked Mark Kleyner, Co-Founder of Dream VC, highlighting Dream VC’s pivotal role and continued success rate in nurturing and empowering investors, funds, and corporate entities to actively participate in Africa’s burgeoning startup scene.
Applications for the 2024 cohort for “Launch into VC (LIVC)’’ and “Investor Accelerator” programs open on Tuesday, February 27th, and will close at 23:59 GMT on the 14th of April 2024.
Both programs will run concurrently from summer to autumn. Launch into VC runs for 4 months from June to Late September. The Investor Accelerator program commences in June and runs until October for a total of 5 months.
Interested applicants can apply for the 2024 cohort of Dream VC’s programs here before 23:59 GMT on April 14th, 2024: https://forms.gle/DJuY7QHsMMYxBEBZ9
Press Release
Amila Africa Launches Amila Insights
Amila Africa Founder, Lethabo Sithole
Amila Africa is thrilled to announce the launch of Amila Insights, a revolutionary division that is committed to providing advanced analytics, research and comprehensive solutions for businesses, governments, and international organisations looking to achieve success in African markets. The company offers a range of services, including syndicated market intelligence reports, customized research solutions, high-level market access events, content development, and value communication.
As a budding pan-African and women-led advisory firm specialising in policy, enterprise and infrastructure development within the trade, investment and energy sectors, Amila Africa brings unparalleled expertise to the forefront with the launch of Amila Insights.
“With a focus on demystifying development trends and delivering data-driven analyses of opportunities across Africa, Amila Insights serves as the strategic partner organisations need to thrive in the region” said Lethabo Sithole, Managing Director of Amila Africa. “Our suite of services is meticulously designed to empower clients with the tools and knowledge necessary to drive growth and achieve sustainable success.”
With a steadfast commitment to collaboration and partnership, Amila Insights collaborates closely with clients to develop tailored solutions aligned with their specific goals and priorities. “By leveraging its extensive network and deep understanding of local dynamics, Amila Insights assists clients in identifying new opportunities, enhancing competitiveness, and optimising business strategies,” said Noluthando Mthonti-Mlambo, Executive Director at Amila Insights.
Amila Insights strives to be more than just a provider of information and data to clients. It aims to challenge the existing narratives on Africa, African businesses, countries, and multilateral organizations and become a trusted source of inspiration and change.
For businesses, governments, and international organisations seeking to unlock the vast potential of African markets, Amila Insights represents a compelling opportunity to gain useful insights into the complex, evolving and growing African market. With a focus on excellence and a dedication to delivering tangible results, Amila Insights stands ready to be the trusted partner organisation to rely on to navigate the dynamic landscape of African business.
Press Release
Africa Finance Corporation Appoints Emeka Emuwa as Chairman of Board
Africa Finance Corporation (AFC), the continent’s leading instrumental infrastructure solutions provider, today announces the appointment of Mr. Emeka Emuwa as Chairman of its Board of Directors. Mr. Emuwa brings a wealth of experience spread over three decades leading and transforming banking institutions across Africa. After completing a sterling 25-year career with Citibank where he left as the Country Officer and Managing Director of Citibank in Nigeria, he went on to serve as the Group Managing Director and Chief Executive Officer of Union Bank of Nigeria.
In this role, he led the bank’s transformation and worked successfully with the new shareholders to transform and restore one of Nigeria’s oldest institutions back to its rightful position as a credible and strong provider of financial services. Mr. Emuwa’s extensive experience and unwavering dedication to the advancement of Africa make him a valuable asset to AFC at a time when the Corporation is rapidly expanding its operations across the continent and building partnerships through international collaborations.
He has been a part of AFC’s Board since 2015, previously serving as the Chairman of the Board Risk and Investment Committee, and as a member of the Board Nominations and Governance Committee. He is also the Chairman of Tangerine Financial (U.K.), the holding company for a financial services group providing insurance and pensions solutions across the continent. Mr Emuwa is thus well positioned to oversee and guide AFC on its future strategy and growth aspirations. The Corporation’s mission to accelerate development impact, foster industrialisation, and enhance value capture and retention across the continent through the provision of critical infrastructure, is crucial for African development and prosperity.
Speaking on the appointment, Samaila Zubairu, President & CEO of AFC, said: “Mr. Emuwa’s considerable experience, insightful perspectives and immense dedication to Africa’s development seamlessly align with our mission. We are confident that under his continued guidance, AFC will continue to make significant strides in transforming the continent. He brings a deep understanding of Africa’s financial landscape within a global context, and has a clear vision for enabling AFC to further amplify its impact.”
Mr. Emuwa commented on his appointment, saying: “I am deeply honoured to be appointed Chairman of Africa Finance Corporation, an institution that has, over the past 16 years, evolved into the leading infrastructure investor in Africa, delivering transformational projects across pivotal sectors of the economy. I look forward to continuing to work closely with the board, management, and all stakeholders to advance AFC’s mission and strengthen its role as a driving force for economic growth and infrastructure development on the African continent.”
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