Ilara Health $4.2 million raise💰| Bitcoin hits $50,000 🪙

In today’s menu 🥘

🪙 Bitcoin achieves the $50,000 threshold for the first time in over two years
💰 Kenyan healthcare startup, Ilara Health, secures $4.2 million in funding to grow its clinic-support services
🛜 Two weeks post rejecting its application, Botswana now prohibits Starlink
🏦 Access Holdings appoints Ms. Bolaji Agbede as Acting CEO, following death of Herbert Wigwe

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💰 INVESTMENTS

Kenyan healthcare startup, Ilara Health, secures $4.2 million in funding to grow its clinic-support services

Ilara Health, a Kenyan health-tech firm that provides private clinics with diagnostic devices and pharmaceutical products, has raised $4.2 million in a combined debt and equity pre-Series A funding round. The investment will be used to expand operations throughout East Africa, enhancing healthcare access for the general population through a B2B health and occupational service. This service will allow uninsured workers to access care at partner clinics for a monthly fee.

DOB Equity led the $2.5 million equity round, with contributions from Philips Foundation and existing investors such as AAIC Investment, Angaza Capital, Black Pearl Investments, and Perivoli Innovations. Debt funding was provided by Alphamundi, Kiva Capital, and Boehringer Ingelheim. The startup has now raised a total of $11.7 million in equity, debt, and grant funding.

Ilara Health began by leasing diagnostic devices to clinics in 2019, but has since evolved to enable healthcare centers to acquire pharmaceutical products and other items, such as hospital furniture, on credit. CEO Emilian Popa says this strategic move has empowered private healthcare providers to operate well-equipped clinics, thereby improving primary healthcare standards.........continue reading

🪙 CRYPTOCURRENCY

Bitcoin achieves the $50,000 threshold for the first time in over two years

Bitcoin has surged to surpass the $50,000 milestone for the first time in over two years, driven by anticipation of future interest rate reductions and recent regulatory approvals for U.S. exchange-traded funds linked to its value.

With a year-to-date increase of 16.3%, the cryptocurrency reached its peak since December 27, 2021, trading at $49,899 at 12:56 p.m. EST (1756 GMT) on Monday, marking a 4.96% daily gain while hovering around the $50,000 threshold...........continue reading

🏦 FINANCIAL SERVICES

Access Holdings appoints Ms. Bolaji Agbede as Acting CEO, following death of Herbert Wigwe

Access Holdings Plc has taken swift action to ensure leadership continuity by appointing Ms. Bolaji Agbede as the Acting Group Chief Executive Officer, following the unexpected passing of former CEO, Dr. Herbert Wigwe.

The Board of Directors announced this decision on February 12, 2024, with Ms. Agbede, the most senior founding Executive Director overseeing Business Support, expected to lead the company, pending approval from the Central Bank of Nigeria...........continue reading

🛜 INTERNET

Two weeks post rejecting its application, Botswana now prohibits Starlink

Botswana’s Communications Regulatory Authority (BOCRA) has declared that the importation, use, and sale of Starlink kits or services are prohibited and any violations will result in legal consequences. This comes as BOCRA continues to review Starlink’s application to operate in the country.

The application by the internet satellite company was originally denied by BOCRA on February 2, 2024, as it failed to meet all necessary requirements. No entities have been authorized by Starlink to import or resell its Internet kits in Botswana, and any that do so without permission will be committing an offence — although specific charges by the regulator are yet to be clarified.

Some Starlink kit owners have been prevented from bringing their devices into Botswana, with some currently held at the Kazungula border in Zambia. They are given the option to either return the device to Zambia, where Starlink service is officially launched, or seek permission from Botswana’s telecom regulator — so far, no requests for permission have been successful..........continue reading