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Welcome to another edition of 🔍 Startup Researcher - Africa, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍

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📰 Important News

• Kenya has unveiled a draft policy to regulate virtual assets and cryptocurrency, seeking public input to create a legal framework.

• Nigerian logistics startup Gokada filed for Chapter 11 bankruptcy due to mounting debts and financial struggles, following failed fundraising efforts.

• PayMint and ADIB-Egypt launched the Meeza prepaid card, enabling cash withdrawals, transactions, and real-time management.

• Kenya is proposing a tenfold increase in licensing fees for satellite ISPs like Starlink, raising the cost to $115,331.

💸 Top Funding Rounds

• CI Capital has concluded over $95 million in bond issuances for Contact Financial, GB Lease, Aman Consumer Finance, and Erada Microfinance.

• GET Accelerated Cohort 3 awarded $35,000 in equity-free funding to 10 Nigerian startups, with five receiving an additional $6,400 each.

💰️ Notable Exits

• Nawy acquired ROA to launch "Nawy Unlocked," a service transforming Egypt's 10 million dormant properties into income-generating assets.

• Cybersecurity firm Integrity360 acquired South Africa's Nclose, adding 150 customers and $18.39 million to its revenue.

📊 Investment Highlights

Explore Tunisia's dynamic startup ecosystem, where innovative ventures are securing significant funding in 2024 across fintech, AI, green tech, and more. From Konnect's transformative digital payments platform to Clusterlab's breakthrough in natural language processing, these startups are reshaping industries and driving growth. Dive into the full article to discover the top funding rounds and learn how Tunisia's entrepreneurs are making waves on the global stage, positioning themselves for future success.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Erada Microfinance

Erada Microfinance, founded in 2022, is dedicated to providing innovative financing solutions to support micro and small enterprises in Egypt. Co-founded by Amr Aboelazm, the company aims to enhance financial inclusion through modern technology and accessible financial products. Recently, Erada Microfinance successfully issued securitized bonds totaling $14.2 million, arranged by CI Capital, to support its growth and expand its services. The issuance was divided into three tranches, with the first two tranches, totaling $12.38 million, receiving P1 ratings, and the third tranche of $1.82 million receiving an A- rating. This funding marks a significant step in Erada's efforts to provide accessible financial services to Egypt's growing microfinance sector.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

GET

The Grooming Endowment Trust, founded in August 2020, is a non-profit organization focused on promoting sustainable social initiatives across education, health, enterprise, and community development in Africa, particularly in peri-urban and rural areas. GET aims to drive lasting impact by supporting projects aligned with the Sustainable Development Goals through grants and investments in social enterprises. As part of its mission, GET launched the GET Accelerated program, an annual startup accelerator that provides equity-free funding, mentorship, and resources to early-stage Nigerian startups. In 2024, the program awarded $35,000 in equity-free funding to 10 Nigerian startups, with five receiving an additional $6,400 each, and continues to empower the Nigerian entrepreneurial ecosystem in partnership with Kick-off Africa, with applications for the next cohort expected in 2025.

🤑 Opportunity Radar

Call for Applications: THRIVE Academy program

Apply now to the THRIVE Academy program by January 19, 2025, and accelerate your agrifood tech startup journey. Designed for pre-seed to early seed-stage companies, this 12-week pre-accelerator offers intensive virtual programming, expert mentorship, and valuable resources to help you become market and investor ready. Throughout the program, you’ll build a strong foundation for scalable growth, refine your go-to-market strategy, and prepare to secure investment. Don’t miss the chance to bring your groundbreaking agrifood innovations to life—apply today!