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News and Updates on Entrepreneurship in Kenya

Top startup events in South Africa, Africa you should know about this week [1/12/2019]

his year’s Cape Town Startup Week (CTSUW) kicks off on Tuesday (3 December) and will run until next Thursday (5 December) with 16 confirmed events (see this story). The biggest event in Johannesburg this week is undoubtedly the Seedstars Africa Summit which takes place on Thursday (5 December). Elsewhere on the …

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Kenya to seek more funding from AfDB

Kenya will be seeking more funding from the African Development Bank to finance the expansion of electricity access by households and businesses under the last mile connectivity project. Speaking in Abidjan, Cote d’Ivoire, AfDB President Akinwumi Adesima said the bank is keen on providing electricity access to at least 105 …

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Keeping Better Tabs On Startups In Africa

Morning Markets: A neat round from Kenya and a question. Yesterday a Kenyan startup called Twiga Foods raised $30 million from Goldman Sachs, including a $23.75 million equity investment and $6.25 million in debt. According to TechCrunch who covered the round, the company “serves around 3,000 outlets a day with produce through a network of 17,000 farmers and …

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Sendy Raises $2M in Funding

Sendy, a Nairobi, Kenya-based on-demand delivery platform, raised USD 2m in funding. Goodwell Investments made the investment. The company intends to use the funds to expand operations and its business reach to cover all East Africa in the near future. Sendy leverages user-focused technology platform to connect individuals and businesses …

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Kenya’s BitPesa secures $15m debt funding as it rebrands

Kenyan fintech startup BitPesa has rebranded as AZA Group, and announced it has secured a US$15 million debt funding round from the Development Bank of Southern Africa (DBSA) to expand further in emerging markets. BitPesa, which raised two funding rounds in 2017 and another last year to take its total secured investment to around the US$15 …

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Kenyan logistics startup Lori Systems expands into Nigeria

Kenyan logistics startup Lori Systems has announced its expansion to Nigeria in a bid to cement its footprint across Africa. Founded by chief executive officer (CEO) Josh Sandler in 2016, Lori Systems provides supply chain management solutions to cargo owners, ensuring flexibility, reliability and cost savings. It has been a major success …

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EAC banks hit rough patch as earning prospects dip

In Kenya, the three largest retail banks—KCB, Equity and Co-operative—made a combined average growth in net earnings of 6 percent weighed down by slower growth in customer deposits, lower interest income on loans and advances, increased loan loss provisions and higher NPLs. SHUTTERSTOCK In Summary Most lenders have crawled into …

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