Nigeria’s Lifebank Sets Up N100 million Trust Fund
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| Global logistics company DHL has launched an e-commerce app, DHL Africa eShop which will see global retailers sell goods to consumer markets in 11 African countries. According to Techcrunch, the app will operate using startup MallforAfrica.com’s Link Commerce which will facilitate local payments, procurement and delivery (a service DHL has rendered to MallforAfrica since 2015). MallforAfrica and DHL have partnered in various business capacities since 2015. Given the recent dynamics of the e-commerce sector in Africa, Jumia’s recent IPO filing still stands as a beacon of what’s possible especially with a sturdy backing as the partnership between these two companies offers. |
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| Nigerian medical distribution company Lifebank has set up a N100 million Blood and Oxygen Access Trust (B.O.A.T). The project will provide essential medical products (blood and oxygen) to poor and vulnerable Nigerians at no cost. According to the company, funding partners will gain access to a dashboard where they can track the disbursements of their donations and see its impact on recepients of the Trust. To learn how you can be a sponsor or donor, find out more here. Since 2016, LifeBank has delivered over 13,000 pints of blood to over 350 hospitals across Nigeria. It has also expanded its services to deliver on-demand emergency oxygen to hospitals. |
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On the 18th of April, 2019, The British High Commission to Nigeria and EFInA (Enhancing Financial Innovation & Access) are convening an interactive session that brings fintech operators, investors, policy makers and hubs to explore the ways in which increased funding and enhanced regulatory harmony can grow the Nigerian Fintech ecosystem. Also, EFInA will announce the winners of its $2 million Fintech Challenge Fund; fintech companies who have built solutions to improve financial inclusion among low-income earners in Nigeria. Sign up here to indicate interest to attend. Please note that only limited seats are available therefore EFInA is unable to accommodate every applicant..
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Angel investing group, Dakar Network Angels (DNA), has launched in Senegal with 31 members across four continents. And they have their first portfolio company – a waste collection and management startup from Ivory Coast. Coliba connects households and businesses with affiliated plastic waste collectors. and has received US$25,000 from the investing network. The investors are not only looking to commit funds (a minimum of US$10,000 per year) into growing tech-enabled companies in Francophone Africa but their time, experience and networks.
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If you are a woman business owner or entrepreneurial student living in southern Africa, apply before April 20 to join the third season of the FemBioBiz Acceleration Programme. The programme is aimed at helping women in this region grow their businesses and gain access to regional and international markets. Click here to apply.
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| TechCabal is pleased to introduce its first paid report, The State of Health Tech in Nigeria. This essential report looks deeply into the state of Nigeria’s health industry, the challenges facing that industry and the innovative startups working to find solutions to those challenges. The report profiles 75 active and 15 inactive health tech startups across 12 subsectors. It further examines the challenges these startups face, the opportunities in the space and makes actionable recommendations for entrepreneurs, investors and regulators to consider. Get the report here. |
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