Innovation Village Newsletter
Posts
Coca-Cola Commits $1 Billion to Nigeria’s Growth Over Next Five Years

Coca-Cola Commits $1 Billion to Nigeria’s Growth Over Next Five Years

Plus: IFC Provides $200m Financing to Airtel Africa

Innovation Village
September 20, 2024

Today’s Menu ☕️

🥤Coca-Cola Commits $1 Billion to Nigeria’s Growth Over Next Five Years
📱IFC Provides $200m Financing to Airtel Africa to Boost High-Speed Connectivity in SSA
💰Uncap initiates $33 million funding initiative for early-stage African SMEs
💵 Morocco’s Userguest secures $2.4 million in seed funding to transform hotel revenue optimization technology

If you haven't subscribed, join over 7,000 people curious about Innovation, New Products, New Technologies in Africa.

🥤BEVERAGE

Coca-Cola Commits $1 Billion to Nigeria’s Growth Over Next Five Years

The Coca-Cola System in Nigeria, which includes Coca-Cola Nigeria Limited and its bottling partner, Nigerian Bottling Company (NBC), has announced a significant new investment plan aimed at expanding its presence and operations in the country. Over the next five years, Coca-Cola plans to invest an additional $1 billion in Nigeria, contingent on maintaining a favorable business environment.

This new round of investment will more than double the Coca-Cola System’s commitment to Nigeria, building on the $1.5 billion invested by Coca-Cola Hellenic Bottling Company (NBC) in the past decade. With this move, the company demonstrates its deep confidence in Nigeria’s economic prospects and highlights its determination to support long-term growth.

The investment will focus on boosting various segments of Coca-Cola’s operations in Nigeria, with specific attention to local suppliers, distributors, retailers, and recycling efforts. These initiatives aim to strengthen the entire value chain, contributing to job creation, economic empowerment, and sustainability.…....continue reading

📱TELECOMS

IFC Provides $200m Financing to Airtel Africa to Boost High-Speed Connectivity in SSA

The International Finance Corporation (IFC) has announced a new financing initiative for three subsidiaries of Airtel Africa plc, aimed at expanding high-speed mobile connectivity to over 37 million subscribers across sub-Saharan Africa. The $200 million loan will enable Airtel Africa to enhance its network and distribution infrastructure, with a particular focus on serving rural areas.

The $200 million financing is structured as a sustainability-linked loan, focusing on three key performance indicators tied to Airtel Africa’s sustainability strategy:

Digital Connectivity – Promoting smartphone adoption rates to increase access to digital services.
Financial Inclusion for Women – Enhancing financial access for women through mobile banking services.
Gender Balance – Encouraging gender equality within Airtel Africa’s management team..…....continue reading

VIDEO RECORDING OF WEBINAR

💰FUNDING

Uncap initiates $33 million funding initiative for early-stage African SMEs

Uncap, a venture capital enterprise with headquarters in Munich and Nairobi, has recently unveiled a new $33 million funding initiative aimed at fostering the expansion of small and medium-sized enterprises (SMEs) throughout the African continent. This initiative, dubbed Unconventional Capital, was officially introduced on Wednesday, September 18, 2024, and it presents a novel approach to investment known as non-dilutive, revenue-based financing.

This approach is particularly advantageous for early-stage companies as it provides them with the necessary capital infusion without compelling them to relinquish any ownership stakes. The leadership of the Unconventional Capital fund is shared between Esther Ndeti, who holds the position of Investment Principal at Uncap, and Franziska Reh, the Chief Executive Officer of the firm.…....continue reading

💰 FUNDING

Morocco’s Userguest secures $2.4 million in seed funding to transform hotel revenue optimization technology

The Moroccan-based startup Userguest, known for its innovative platform that assists hotels in maximizing their direct revenues, has successfully secured a seed funding round of EUR2.2 million (US$2.4 million). This financial milestone is set to propel the company into a phase of rapid expansion and further development of its product offerings.

Launched in 2018, Userguest has developed a fully automated solution designed to enhance the direct revenue streams of hotels through their websites. It achieves this by delivering personalized messages and smart incentives to site visitors, thereby optimizing conversion rates..…....continue reading