BasiGo $5 million boost | Kenya's $4.48 Billion deals To Develop Green Projectss

TODAY’S MENU

• BasiGo’s Electric Buses Receive $5 Million Investment Boost from BII for Green Transformation

• Kenya’s Lipa Later Group Secures KES 500m ($3.25m) in Successful Debt Issuance

• Meta to disconnect Messenger and Instagram chat mid-December

• Sunil Natraj Appointed as New CEO for Jumia Nigeria

• Kenya Signs Deals Worth $4.48 Billion to Develop Green Projects

INVESTMENT

BasiGo’s Electric Buses Receive $5 Million Investment Boost from BII for Green Transformation

BasiGo Ltd., one of Africa’s foremost Electric Bus solution providers has secured $5 million in debt funding from British International Investment (BII), the UK’s development finance institution and impact investor. The funding, facilitated through BII’s Climate Innovation Facility, is designed to accelerate climate innovation in emerging markets.

BasiGo will utilize the $5 million investment to scale the local assembly of electric buses, responding to the escalating demand from bus operators in Kenya. The financing support is instrumental in transitioning Kenya’s public transport from diesel-powered vehicles to contemporary electric buses.......…….read more

Kenya’s Lipa Later Group Secures KES 500m ($3.25m) in Successful Debt Issuance

Lipa Later Group, a prominent fintech platform with a mission to empower African businesses through innovative financing solutions, proudly announces the successful closure of a KES 500 million ($3.25 million) privately placed debt issuance. This milestone underscores Lipa Later’s unwavering commitment to providing cutting-edge financing options that enhance e-commerce, financial inclusion, and shopping on a centralized and fully integrated platform…..read more

Mtor raises $2.8 million pre-seed led by Algebra Ventures

Mtor, an Egyptian online marketplace for auto parts, has secured $2.8 million in pre-seed funding led by Algebra Ventures, a venture capital firm with a focus on Egypt. The round also saw participation from Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital, and various other local and international angel investors…..read more

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SOCIAL MEDIA

Meta to disconnect Messenger and Instagram chat mid-December

Starting mid-December, Meta will eliminate a feature allowing users to chat with Facebook friends via Instagram. The company introduced this cross-platform integration in 2020, but it did not provide a specific reason for the removal. However, 9to5Google suggests that avoiding regulatory repercussions in the EU could be a plausible reason.

According to Meta, from mid-December 2023, users will not be able to initiate new chats or calls with Facebook friends through Instagram. All existing conversations with Facebook users on Instagram will become read-only. Additionally, Facebook users will no longer see Instagram users’ activity statuses or read receipts, and current chats with Facebook users will not transfer to either platform’s inbox……read more

APPOINTMENTS

Jumia Announces Leadership Transition: Sunil Natraj Appointed as New CEO for Nigeria

Jumia, a leading e-commerce platform in Africa, has revealed a significant leadership change with the appointment of Sunil Natraj as the new Chief Executive Officer (CEO) for Nigeria. The company disclosed that Sunil Natraj will assume his role as CEO effective January 1st, 2024, succeeding Massimiliano Spalazzi, who will be stepping down from his position on December 31st, 2023…….read more

OTHER STORIES

Kenya Signs Deals Worth $4.48 Billion to Develop Green Projects

Kenya signed deals for seven green projects on the sidelines of the COP28 summit, include geothermal generation plants, fertilizer production and a data center powered by renewable energy, according to an emailed statement. Kenyan President William Ruto is pushing for Africa to become a “green powerhouse.” Kenya generates 92% of its electricity from renewables including geothermal, hydro and wind. The nation also has a target to grow 15 billion trees and rehabilitate 10,000 wetlands with an eye on nature swaps. …..read more

Uber launches ‘Store Pickup’ feature for those last-minute holiday shoppers

Uber launched a new “Store Pickup” feature for holiday procrastinators who may be in need of a little extra help with their gift distribution.

For a fee, customers can request an Uber courier pick up a purchased item from a store to be delivered to a recipient of their choosing. Customers must upload the item’s receipt in order to authorize the courier’s pickup.….read more

Kenyan E-Commerce Platform Sky.Garden Relaunches with a Fresh Boost from Lipa Later

Kenyan e-commerce startup Sky.Garden is making a grand comeback, unveiling its revamped platform following its acquisition by tech credit platform Lipa Later in December 2022. Lipa Later has injected a Ksh.250 million investment into Sky.Garden, igniting ambitious plans to connect with 100,000 merchants within the next year.

Lipa Later’s renowned Buy Now Pay Later (BNPL) service, operating in Kenya, Uganda, and Rwanda, is now seamlessly integrated into the Sky.Garden experience. This integration enables Sky.Garden customers to utilize Lipa Later’s flexible and affordable payment plan, allowing them to make purchases on the Amazon-style marketplace through monthly instalments…..read more