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09 - 09 - 2019

Welcome to today's edition of TC Daily! If this mail was forwarded to you, please take a moment to subscribe and have this delivered directly to your mail box every weekday. 

Register to attend the 4th edition of the Spotlight Nigeria Business Forum. The event is hosted by Friends of Nigeria with the support of the Embassy of Nigeria Paris. Strategic partners include: the France Nigeria Chamber of Commerce & Industries (FNCCI), Paris Chambers of Commerce and Industries, ADEPTA (a network of top Agriculture companies in France), PwC, Council of Investors in Africa (CIAN), Nigeria Export Promotion Commission (NEPC), Nigeria Investment Promotion Commission (NIPC), Netherlands Africa Business Council (NABC), Business France, French Foreign trade advisors, amongst others. To register, visit:
ABAN, the largest network of Angel Investors in Africa and AfriLabs, the largest pan-African network of technology and innovation centers, have partnered to launch Catalyst, a cross-stakeholder initiative that aims to increase the pool of capital available to promising African growth-stage entrepreneurs, as well as support the startup ecosystem including hubs and angel network. Catalyst operates as a co-investment fund that will match investments from qualifying angel investors into African growth-stage companies. AfriLabs is organising its Annual Gathering this year at the African Union Headquarters in Addis Ababa, Ethiopia where you can learn more about Catalyst and more. Registration for the Gathering is still ongoing at:
Accion's seed-stage investment initiative Accion Venture Lab has closed $33 million in fresh capital; with US$23 million of it coming for Accion Venture Lab’s new fund from third-party investors and an additional US$10 million investment from Accion itself. The global nonprofit focused on financial inclusion launched in 2012 with US$10 million in capital and will now have US$43 million under its management. With global investments and a focus on emerging markets, Accion says it plans to continue investing in UAE, Pakistan, and other markets in the Middle East & North Africa.
Here are some tech events happening across the continent this week.
The informal sector, spanning a wide range of economic activities from street trading to subsistence farming, refers to commerce that is not monitored by the government and insufficiently covered by documented arrangements. A lot of the monetary activities in these sectors go through informal financial institutions like cooperatives and thrift savings associations. Wole Olayinka writes about startups capturing value in the informal sector with their financial tools and services.
Access Bank, Axa Mansard, among other financial industry players, have signed up to VerifyMe’s proprietary Know-Your-Customer (KYC) solution. VerifyMe offers real-time ID verification that is compliant with CBN tier 3 and international Anti-Money Laundering (AML) standards. Organizations can access up to 200 verifications per minute for faster decision making. Get started now.
South African Naspers' investment arm, Naspers Ventures has invested US$2.33 million into Lithuania-based DappRadar. The platform discovers and analyses blockchain-based decentralised applications.The round was led by Naspers, with participation from Ventures and Angel Invest Berlin. DappRadar will use the investment primarily for R&D, developing new functionality to help the business expand its service and reach the next stage in its growth.
Nine startups from across the continent have been selected for the Agriculture Africa accelerator run by Village Capital, which will offer two winning ventures US$50,000 each in funding. The accelerator programme is designed to assist agritech startups provide granular solutions to help smallholder farmers. This year, the programme has partnered Small Foundation and Ceniarth, the latter of which has committed US$50,000 to each of the top two peer-selected ventures.
Applications are open for the third edition of the MAN Impact Accelerator, which helps logistics and mobility startups scale. The eight-month structured mentoring programme is focused on impact, purpose, growth, customer development, marketing, communication, investment, tech and product-market fit, and includes five weeks in each of Munich, Sao Paolo, Lisbon and Johannesburg. Apply before October 1.
TechCabal is bringing together the leading players in Africa's transportation industry for the TC Townhall: Mobility. From regulators to companies and investors, the gathering will feature discussions and insights into the future of the continent's transport and logistics sector. Early bird tickets are available here if you use the code TCMobility. Please note that the early bird ticket discounts ends today.
Over the course of the last two weeks, ten startup founders from seven African countries have been touring Asia under the Pitchdrive Asia Tour. The initiative of Co-Creation Hub, organised in partnership with Google for Startups, provided an inroad for the startups using deep technology and hardware in their businesses, into the Asian technology and investment ecosystem. Learn about the journeys of the founders and their experiences in Asia as they pitched their businesses to investors from across Asia and learned from tech hubs and communities. Also follow on social: @cc_hub (Twitter); @cchubnigeria (Instagram/YouTube); @TechCabal (across social).

That's all for today,

Have a great week! - Kay
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