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Five startups emerge winners at the UK Government’s Lagos Immersion program

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Lagos – 12 July 2019: The UK Government’s Department for International Trade (DIT) in partnership with Innovation corner launched Lagos Immersion hosted by Microsoft. A program which aims to promote seamless bilateral trade and illuminate the strengths of the Nigerian technology scene and encourage greater investment; especially those which address some of the macroeconomic and development challenges of the continent.

UK High Commission ICT Lead, Boma Beddie-Memberr expressed the readiness of the British High Commission’s department for International Trade to facilitate trade and investment between Nigeria and the United Kingdom as well as support the thriving technology ecosystem in Nigeria. 

On a similar note, Tochukwu Egesi, CEO of Innovation Corner, a social innovation centre, appreciated Social Good Lagos, a UN Foundation program for supporting the program with volunteers and assured the audience that Innovation Corner will continue to create technology products to facilitate social development in Nigeria and extend her network to startups in Nigeria for their growth.

Winners at the Immersion hackathon include Wesabi, Utive, Datarica, Econergco and Salubata. The winners will receive the following benefits:

  • Links with the UK’s thriving tech sector and work with UK expertise to take their business to the next level.
  • Winners will be paired with mentors with investment background and access to a wider network for 4 months.
  • Winners will be invited to the Beyond Nigeria networking session with the Deputy High commissioner of the UK High Commission in August 2019 and subsequent sessions.
  • Pitch their ideas to potential investors and partners in Nigeria and the UK.
  • Receive support from the Department for International Trade and Innovation Corner.
  • Access to local and foreign Immersion corporate partners and much more.

Also in attendance were executives from Private Sector Healthcare Alliance (PHN), Africa Fintech Foundry, Fintech Association, Africa Prudential, AGS tribe, The Paper Packaging Company, Social Good Lagos.

Leftmost male: Tochukwu Egesi(CEO, Innovation Corner), Khadijat Abdulkadir (CTO of Africa Prudential) Boma Beddie-Memberr (ICT Lead, Department of International Trade, UK High Commission) and  Ifedayo Durosinmi – Etti (Founder AGS Tribe)

Also Read Lillian Barnard: Tech Enthusiast And First Female Managing Director, Microsoft South Africa

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About The Department for International Trade 

The Department for International Trade is a United Kingdom government department founded in 2016 responsible for striking and extending trade agreements between the United Kingdom and non-EU states.  

About Innovation Corner 

Innovation Corner is a social innovation centre focused on using technology to solve social problems and supporting entrepreneurs through learning and her network. Two technology-driven products have been launched via the internal innovation team, these products are, Blueform and Rem Health.

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GoDaddy Partners with Fawry to Help Entrepreneurs Build Their Online Presence

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GoDaddy Inc. (NYSE: GDDY), the company that empowers everyday entrepreneurs, has partnered with Fawry, the local leading online payment company. To facilitate the process of going online for startups and entrepreneurs in Egypt.

In partnership with Fawry, GoDaddy will provide startups and entrepreneurs with unique services and tools. Including GoDaddy E-store, to successfully build their digital presence, aiming at helping them attract customer attention and conversions to grow their businesses.

“We are excited to partner with Fawry to empower small business owners, startups, and entrepreneurs in Egypt by facilitating the process of shifting online,” said Selina Bieber, General Manager for MENA, GoDaddy. “Along with our affordable integrated suite of online services and easy-to-use tools, young entrepreneurs and business owners now have secure and easy e-payment methods that can help promote their journey towards utilizing digital solutions for their future growth,” Bieber added.

Heba El Awady, Senior Director for Banking and Strategic Sectors, Fawry, said: “Together with GoDaddy, Fawry aims to provide an easy and convenient payment experience for Egyptian startups and entrepreneurs to successfully build their online presence”. “FawryPay offers various payment methods including card payment, mobile wallets, Installment, reference code payments via Fawry channels (“myFawry” app, 250K Fawry point of sale terminals, FawryPlus, banking channels as well as cash payment through Fawry outlets).”  El Awady added.

With over 20 years of experience supporting entrepreneurs, GoDaddy is keen to reach more Egyptian youth and business owners. By providing them with the necessary toolkit to name their idea, expand their digital footprint, and help them take their businesses online and grow.

Additionally, GoDaddy supports digitization needs by sharing information about the benefits of being online. Which, in turn, can help to serve Egypt’s digital transformation strategy and contribute to the state’s economy in the light of Egypt’s Vision 2030.

It is important to note that GoDaddy launched its Arabic Website Builder to allow local Arabic-speaking customers in the MENA region. To reach their audience in their mother tongue, creating a user-friendly interface, and providing a personalized user experience. Thus, grow their business, attract new clients, and retain the already existing customer base.

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3attar secures seed investment from AUC Angels, UI Investment and Angel Investors

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3attar a health-focused tech and e-commerce platform secures seed investment from AUC Angels, UI Investment and individual Angel Investors. Established in 2019, 3attar is a B2C online platform that provides value to its customers through: Online healthy food/products ordering, Delivery services, Diet-consultation programs and Live-coaching programs. Additional subscription and e-payment models.

During the COVID-19 crisis, the company was quick to expand its ‘selection from a few hundred products to +3,000. Rendering it the biggest healthy-shopping destination in Egypt. Its unique name/logo combination expanded to grow into its own private label that generates 20% of the entire business revenue model.

Mohamed Ali, founder/CEO of 3attar said “We aim to become the dominant one-stop shop for the whole health community in Egypt. And expand into MENA regions; including chronic diseases and obesity by providing a holistic healthy lifestyle app.” 

The company’s vision is to support the health community that is comprised of At-risk individuals who lack the resources, awareness, products necessary to alleviate their conditions and improve their health (customers suffering from Obesity, Diabetes, Allergies, Hypertension and more). Healthy individuals as well as Athletes, Dieters and Fitness professional. Who maintain and lead a healthy food intake and are constantly seeking a platform that holistically offers all their lifestyle needs.

Eng. Tarek Roushdy, investor and board advisory member of 3attar said: “Since the huge growth in the global “health” community is reaching the MENA region rapidly. 3attar made a smart move to be the first and only platform to serve not only the health community in Egypt and MENA. But also those who want to joint this movement. I am glad to be part of this journey helping them to bring such value to that big market ..” 

Mariam Kamel, of AUC Angels said: “The specialized e-commerce space has witnessed increased inflow of angel investments and venture capital this past year. 3attar not only satisfies this, but also strives for impact in addressing the growing trends towards healthier living.” 

The investment raised will be utilized to expand the customer-base through marketing acquisition and diversification. Further developing the tech-stack to achieve higher order volume and revenues.

 

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Coca-Cola HBC AG Acquires Majority Stake In Coca-Cola Bottling Company Of Egypt

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Coca-Cola HBC Team (Photo: Louise Sullivan)

Coca-Cola HBC AG (“Coca-Cola HBC”) today announced the completion of the acquisition by its wholly-owned subsidiary. Coca-Cola HBC Holdings BV (“CCH Holdings”), of approximately 52.7% of Coca-Cola Bottling Company of Egypt S.A.E. (“CCBCE”) from MAC Beverages Limited (“MBL”). And certain of its affiliated parties for cash consideration of US$304 million, subject to certain balance sheet adjustments. An additional earnout amount may be payable based on CCBCE’s financial performance in 2021.

Mr. Abdul Galil Besher, the current executive chairman of CCBCE, will remain as non-executive chairman of CCBCE. The transaction with MBL also involves the potential acquisition by CCH Holdings, at the same price per share to be paid to MBL, of another approximately 2.8% stake from certain other minority shareholders pursuant to agreements to be entered into in due course.

In addition, a convertible loan issued to a wholly-owned affiliate of The Coca-Cola Company (the “TCCC Seller”) by CCBCE. Convertible into new CCBCE shares, has been transferred to CCH Holdings for a cash consideration of approximately US$22 million (which is equal to its outstanding principal amount and unpaid interest).

Completion of the acquisition by CCH Holdings of approximately 42% of CCBCE from the TCCC Seller, also announced on 12 August 2021, is expected to occur later this month, bringing CCH Holdings’ total ownership in CCBCE to 94.7%.

The acquisition gives Coca-Cola HBC access to the second-largest non-alcoholic ready-to-drink (“NARTD”) market in Africa by volume. Building on existing scale in Africa and increasing Coca-Cola HBC’s exposure to high growth geographies. There is a significant opportunity to leverage Coca-Cola HBC’s proven route-to-market capabilities. And 70 years of experience operating in emerging markets to increase penetration of The Coca-Cola Company’s brand portfolio and drive category leadership.

“We are excited to welcome CCBCE to our group. We see great potential for this business to unlock considerable opportunities in the NARTD category in Egypt. We appreciate the trust placed in us by The Coca-Cola Company and MBL. And are ready to become part of the Coca-Cola system growth story in Egypt.” said Zoran Bogdanovic Chief Executive Officer Of Coca-Cola HBC

 

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