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Nigerian maritime startup OnePort 365 secures $5m seed funding to digitise freight management across Africa

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A Nigerian maritime startup, OnePort 365, has secured a $5 million seed funding to drive end-to-end digitisation of freight management in Africa and support its expansion into new markets across the continent.

According to the CEO and founder of OnePort 365, Hio Sola-Usidame, the digital freight forwarding company makes it easier for importers and exporters to move their cargo to and from Nigeria to other parts of Africa.

“OnePort 365 has developed a freight forwarding platform that enables traders to efficiently and conveniently move cargo to, from and within Africa, providing complete transparency, visibility and control, minimizing cost inefficiencies and eliminating time and effort inefficiencies resulting from traditional supply chain management methods,” Sola-Usidame said.

“With active operations in Nigeria and Ghana, the startup is building an operating system for cross-border trade in Africa, and it has now raised a US$5 million seed round to support its efforts.

“We are super excited to have these investors onboard to support our mission to optimise cross-border trading across the continent.

“With new regulations like the Africa Continental Free Trade Agreement creating the potential for a new era of trade on the continent, we want to make it easier for traders to maximise the opportunity.

“We believe managing freights should be as easy as booking a flight or ordering a ride-hailing service and we are building the operating system to make this possible,” the startup CEO said.

Takeshi Watanabe, CEO of Mobility 54 Investment SAS who facilitated the sec fund, said he was delighted to support the OnePort 365 team as it embarked on the journey of digitising the end-to-end freight management process in Africa.

“There is great potential to unlock significant commercial opportunities across the continent by addressing the longstanding challenges that have made it difficult to move freights into and around the continent, and we are confident that OnePort 365 has what it takes to succeed,” Watabnabe said.

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Egyptian supply chain startup, OneOrder, secures $3 million funding to scale up expansion plans

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An Egyptian supply chain solutions startup, OneOrder, has successfully raised $3 million in seed to enable it achieve its aim of expanding beyond the MENA region, the company’s cofounder and CEO, Tamer Amer, announced on Tuesday.

According to Amer, the funding was led by angel investor, Nclude with participation from Delivery Hero Venture and A15.

The company which was in 2021, enables restaurants to order food supplies directly on its platform, thereby helping to tackle shortages, price fluctuations, product consistency and accurate delivery.

“As a startup, OneOrder is able to improve such efficiencies across the supply chain by using its proprietary technology, which helps ensure product availability, as well as fast and accurate fulfillment,” Amer said.

“By using the platform, restaurants can order supplies for next-day delivery, eliminating the need to pay for additional storage and warehousing costs, as well as cutting costs by leveraging OneOrder’s economies of scale,” he added.

The company has so far raised $7.5 million since its launch last year. The latest round of funding, according to Amer, will also be used to “expand the team, invest in its proprietary technology, and grow the startup’s warehouse footprint across Egypt and the MENA region.”

“As a restaurateur myself, I have witnessed first hand the avoidable overheads and hassles HoReCa businesses go through in serving their customers.

“We are delighted by the level of adoption and growth we have recorded over the past year which is a testament to the fact that we are addressing a huge unmet demand in our region,” he added.

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Kenyan asset recovery agency drops fraud charges against Nigerian fintech startup, Kora

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Kenyan Asset Recovery Agency (ARA), on Monday, withdrew fraud and money laundering charges it had filed against against Nigerian fintech startup, Kora.

The charges against the Nigerian startup by the Kenyan agency were filed in July following accusations of money laundering and card fraud in the eastern African country, with the ARA going further to freeze the accounts of the company.

However, new court documents released on Monday show that the ARA has filed a notice of withdrawal of the charges at the High Court of Kenya at Nairobi Anti-Corruption and Economic Crimes Division.

In the document which was filed by state counsel, Stephen Githinji, on behalf of ARA director, the agency said that it had withdrawn its suit in its entirety.

Another document issued by the Kenyan Directorate of Criminal Investigation (DCIA), also confirmed that the agency has cleared Kora of any wrongdoing.

“Please note that investigations are now finalised. I would like to confirm that allegations of money laundering and card fraud against [Kora] were not established. Please treat this communication as final,” the DCI report said.

Kora’s Chief Operations Officer, Gideon Orovwiroro, in a statement, also confirmed the development.

“Kora has always maintained its innocence in this matter and we are glad that finally the ARA and the DCI have dropped all charges and ratified Kora.

“We’d also like to commend both agencies for their professionalism and thoroughness in seeing this investigation to the conclusive end,” says

“We are delighted to get back to building the most robust payment product on the African continent. We have some exciting announcements coming soon, including multi-currency bank account products for African businesses.

“This will empower merchants to have bank accounts in GBP, EUR, USD and other in-demand currencies. Kora is excited about this development as it is further proof of its commitment to enrich the quality of merchants’ payments and build more meaningful financial products.”

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