Tech

Egyptian online auto parts startup Mtor raises $2.8m funding

Published

12 months ago

December 8, 2023

Egyptian online auto parts startup, Mtor, has announced raising $2.8 million in pre-seed funding to enable it expand its product portfolio to digitise local car workshops in the country.

Co-founder and CEO of the startup, Mohamed Maged, who made the announcement, explained that with the funds which were secured from Algebra Ventures with participation from the Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management, and a number of local and global angel investors, the firm was set to expand its offering.

“With the new funds, we aim to become the most trusted partner for our mechanics by empowering them to better cater to the car owner’s needs in terms of quality parts and fast service,” Maged said.

“It can be a car owner’s nightmare to get their car serviced. Mtor was founded to fundamentally transform this reality and make the process easier and more efficient, empowering a layer of local car workshops that are well rounded with quality parts, a suitable price position, and a good customer experience.

“The local automotive aftermarket is inefficient with a fragmented and scattered supply chain. Workshops and mechanics face many challenges, including limited product availability, inaccurate fitment data, and a lack of price transparency.

“These issues inevitably trickle down to car owners, who are also faced with limited-service quality guarantees and a complex, time-consuming spare parts procurement process.

“Mtor aims to overhaul this system through its controlled, tech-enabled marketplace, backed by its proprietary Mtor Mechanic app, where pricing, availability, and fitment data are reliably just a click away,” the CEO stated.

He added that the funds raised would be used to further grow Mtor’s product suite, digitise local car workshops, and eliminate major inefficiencies in the automotive spare parts supply chain in Egypt and the region.

Founded in 2022 by Maged, Moaz El-Megharbel, Mohamed Altaf, and Khaled Kandil, Mtor provides a unified platform for local car workshops and on-demand automotive spare parts at reasonable prices.

It has delivered over 70,000 orders, partnering with over 2,500 car workshops in the greater Cairo area, according to the company’s profile on its website.

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

2 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.