Tech

Egyptian delivery startup, Mylerz, raises $9.6 million to expand into North African countries

Published

2 years ago

July 16, 2022

Egyptian e-commerce last-mile delivery startup, Mylerz, has secured a $9.6 million funds from Egypt’s leading payment company, Lorax Capital Partners and Fawry, to help its expansion growth into the job markets in other North African countries in Morocco, Tunisia and Algeria.

The startup’s founder and Chief Executive Officer (CEO), Samer Gharaibe, who announced the funding initiative, said the startup’s plans are to “strengthen employment in the three countries and also provide employees with the training necessary to learn more about the company’s industry.”

Gharaibe said as part of the first round of financing Mylerz obtained since its launch in 2019, the fund is expected to help finance the Egyptian company’s expansion into Algeria, Tunisia, and Morocco in the last quarter of 2022.

In an interview with Morocco World News on Saturday, Gharaibe said with approximately 700 employees in Egypt alone, Mylerz’s regional footprint is set to “open borders for e-commerce so that small and medium enterprises (SMEs), and other actors involved in the ecosystem will be able to trade together and sell their products,” Gharaibe stressed.

Gharaibe added that as part of its expansion plans, Mylerz is undertaking to build a 25,000 m² automated fulfillment center in Cairo by the fourth quarter of 2022, eyeing to become a leading provider of integrated e-commerce logistics solutions in the continent.

On it’s part, Lorax, an Egyptian private equity firm, says it is backing Mylerz “to become the continent’s first fully integrated e-commerce logistics player, bringing a unique blend of premium customer service and efficient delivery services to regional businesses and consumers alike,” a statement by Ashraf Zaki, Managing Partner at Lorax, stated.

Related Topics:Egypt Featured Funding Mylerz Startup

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

10 hours ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

1 day ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.