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12 African startups lined up for $120, 000 ARM Labs Lagos Techstars accelerator programme

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The ARM Labs Lagos Techstars has selected 12 African tech startups for its inaugural accelerator programme with a $120,000 prize money in equity funding and other forms of support.

The accelerator programme which was launched by Techstars, a global investment business that provides access to capital as well as one-on-one mentorship, and customised programming for early-stage entrepreneurs, is in partnership with ARM Labs, a Lagos-based innovation programme focused on helping fintech startups.

The accelerator programme, according to Techstars Managing Director, Oyin Solebo, in a statement on Tuesday, will run for three months and is aimed at early-stage African fintech and prop-tech startups, with the first cohort made up of 10 Nigerian and two Kenyan ventures, half of which have female CEOs.

“Each selected startup banks up to $120,000 in equity funding, as well as access to training and a vast investor network. The programme concludes with a demo day on March 16,” the MD said.

“The selected Nigerian startups include peppa.io, a platform that makes customers buy items on social platforms through the use of payment protection.”

“Others are CDcare, which is making it easy for Africans to own gadgets, appliances, cars and more at zero interest, through smart installment plans;”

“Flick, which enables users to connect multiple bank accounts and pay directly from one source;”

“Keble, which enables Africans at home and abroad to purchase fractional shares of global real estate; and Keza, which enables people to buy new and pre-owned smartphones on a flexible payment plan.

“Also selected from Nigeria are Salad, which provides employees with access to financial services and benefits beyond their monthly paycheck;”

“Sidebrief, which simplifies the process of starting and scaling a business across borders and Towntalk, which provides shippers with real-time location and behavioural analytics, vehicle tracking, and access to insurance providers.”

“Also selected are Vittas, a digital lender for healthcare providers and Oystr Finance, which provides lenders with an infrastructure to help them launch low-risk micro-loan products.”

“The two Kenyan startups taking part in the programme are alphabloQ, a real estate investment platform, and Cladfy, which provides microfinance lenders with credit profiling, digitised loan management, and access to affordable, reliable financing,” Solebo said.

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Radisson Group targets 25 hotels in Morocco by 2030

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The Radisson Hotel Group says it has set a goal of setting up 25 hotels in Morocco, which will expand its current portfolio of 11 hotels in operation to 36 by 2030.

Erwan Garnier, Senior Director, Development, Africa at Radisson Hotel Group, who disclosed this in a statement, saidMorocco continues to be a crucial market for the group’s development, while also accelerating its expansion in the country which is part of its vision of redefining the group’s expansion strategy for the country.

“I am delighted to lead our expansion efforts in Morocco and take them to new heights. Leveraging our success in the country thus far, our expansion strategy will concentrate on targeting the major cities in Morocco,” Garnier said.

“Our focus will be on strengthening our presence in Casablanca and Marrakech, where we currently operate the conveniently located Radisson Blu Hotel, Casablanca City Center and the highly acclaimed Radisson Blu Hotel, Marrakech Carré Eden.

“Additionally, we plan to establish our presence in the key cities of Rabat, Tangier, Agadir, and Fez.

“In light of Radisson Hotel Group’s strategic 5-year plan and the 2030 FIFA World Cup in Morocco, we have identified significant potential within these cities to establish a diverse portfolio consisting of ideally located business hotels, efficient serviced apartments, premium mixed-use projects, and expanding our portfolio of exceptional resorts.

“The introduction of the Radisson brand with the imminent opening of the Radisson Hotel Casablanca Gauthier La Citadelle in the vibrant Gauthier district of Casablanca, marks a notable development.

“This new establishment will be the flagship of the Radisson brand in Morocco, marking the entry of a new brand for the group in the country and underlining our commitment to quality and diversified expansion,” he added.

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AgriTech4Egypt Innovation Challenge opens applications for tech-prenuers

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The 2024 edition of the AgriTech4Egypt Innovation Challenge has called for applications from tech-prenuers and purpose-driven scientists working on agri-tech solutions for a more sustainable, efficient, and climate-resilient agricultural system in Egypt.

A notice on the website of the organizers of the programme on Tuesday said the programme is designed to give participants an edge in validating and deploying agri-tech venture in Egypt

“We are looking for purpose-driven scientists and entrepreneurs working on agri-tech solutions for a more sustainable, efficient, and climate-resilient agricultural system in Egypt,” the notice said.

It added that the AgriTech4Egypt Innovation Challenge is designed specifically for early-stage agri-tech ventures in the north African country with a “minimum viable product (MVP) or proof of concept (POC), and plans to support and prepare them to build a solid go-to-market strategy through technical validation and access to the market.”

“We are looking for agri-tech innovations in priority areas such as digital agriculture and precision farming, agri-finance solutions, sustainable value chain development, capacity building tools, and efficient irrigation water management,” it said.

“Selected ventures will receive the tools and step-by-step support to build the foundations of an agri-tech venture for scalable growth in Egypt, benefitting from a fully funded, four-day immersive bootcamp, connecting with a network of partners and agribusinesses, accessing expert guidance from CGIAR scientists and industry experts, plus a sponsored six-month acceleration programme.

“They will also be able to test and validate their solution on the ground with end-users for up to six months, receive up to EGP300,000 (US$6,500) as an equity-free grant provided by ASRT, and gain exposure to investors and market opportunities.

“Applications are open until April 21, with the accelerator programme taking place between June and October, and a demo day set for November,” it added.

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