Day: August 14, 2021

E-commerce startup Teegara closes pre-Seed funding round led by the Alexandria Angels Network

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EGYPT – Teegara.com, the Cairo-based e-commerce startup successfully closes a five-figure pre-Seed follow-on funding round led by the Alexandria Angels Network, as well as angel investors from Saudia Arabia, Egypt, and the Netherlands. Teegara is a B2B2C e-commerce marketplace founded in 2019 by Ahmad Kayyali and Nader Ibrahim, with Ahmed Samir as the first investor. It seeks to help everyone trade, starting with small stores and social e-commerce merchants. Teegara intends to solve several major difficulties in the retail and procurement industries with its digital platform. To begin with, it…

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Lack of financing, capacity building derail adoption of AgriTech innovations in Africa

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AFRICA – The COVID-19 pandemic has imposed shocks on the agriculture industry and its effects will most likely reverberate throughout the coming decade. The pandemic hit at a particularly critical time when the economies of a number of countries in the region were recovering from the impacts of recent droughts and severe flooding and dealing with the worst desert locust invasion in 25 years. According to a recent 11-country survey by Heifer International, some 40% of agriculture organizations were forced to close at least temporarily due to the pandemic. Meanwhile,…

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Angola to inaugurate new fish processing, wheat production units to spearhead growth of food industry

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ANGOLA – Angola based fishing company, Seatag Pesca Projecto, has announced that its new fish processing factory currently under construction is 70% complete. Set to be finalized and commence operations in the first quarter of 2022, the unit will have a processing capacity of 60,000 tons of diverse fish. In the first phase, according to reports by Angola Press, the factory will guarantee 900 job opportunities. The administrator of the company, Alcatir Costa, revealed that the project which commenced in November 2019, had an initial value of US$78 million, an…

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