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Chinese electric car manufacturers NETA Auto launches first African flagship showroom in Kenya

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Chinese electric car manufacturers, NETA Auto, a brand of Hozon Auto, has opened its first African flagship store in Kenya, making it NETA Auto’s first store in Africa.

The opening of the flagship store also marks a new phase of EVs to entering the African right-hand drive (RHD) market.

A statement by the firm notes that the reason for NETA Auto choosing Kenya as its entry point to Africa is based on in-depth analysis of its market potential and strategic vision of global strategies.

“Kenya not only serves as a gateway to Southern, Central, and Eastern Africa but is also a key node in the Belt and Road Initiative,” the statement said.

“By leveraging Kenya’s strategic location, NETA Auto aims to deepen economic and trade ties with African countries, and finally completes the transformation of ‘The Chinese NETA’ into ‘The World NETA’.”

NETA Auto’s star model, NETA V, has already debuted in Kenya, and models such as NETA AYA and NETA X will follow in the future.

“In the next two years, NETA Auto plans to enter 20 countries, open 100 stores and achieve an annual sales volume over 20000 units within three years in Africa,” the company said.

“By establishing a high-quality service network and providing consumers excellent after-sales services, NETA Auto aims to become the leader of the new energy car manufacturers in the region.

“Driven by its globalization strategy, NETA Auto adheres to an overseas strategy of ‘Deep rooting in ASEAN, standing out in South America, and developing in the Middle East and Africa’.”

The Chinese auto giant had also established three major Intelligent eco-factories in Thailand, Indonesia, and Malaysia, with outstanding export performance.

“With the technical support of the Hozi, Shanhai and Yunhe platforms, NETA Auto continues to set new standards in the EV industry.

“The application of these cutting-edge technologies not only enhances the product’s intelligence, offering consumers a more comfortable driving experience but also adds momentum to NETA Auto in the African market.

“With the gradual implementation of the Africa strategy, NETA Auto is embarking on a new journey with its outstanding products, innovative strategies, and globalization insight.”

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SA’s e-health startup RecoMed partners Discovery Vitality to simplify flu vaccinations

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South African e-health startup, RecoMed, has struck a partnership with Discovery Vitality to simplify bookings for flu vaccines and Vitality Health Checks.

RecoMed is a technology-driven online healthcare marketplace and booking platform that seamlessly connects practitioners, patients, and other stakeholders in the healthcare ecosystem.

According to its profile, patients can easily book appointments with a diverse selection of healthcare practitioners in their area quickly and privately from a phone, tablet, or PC, 24/7.

Vitality, on the other hand, is the largest global platform for behaviour change, underpinning the insurance products of leading insurers worldwide, impacting 30 million lives in over 40 markets.

Sheraan Amod, CEO at RecoMed who issued a statement on the partnership, said the collaboration between Discovery Vitality and RecoMed has reimagined bookings and efficiencies for independent members and corporates.

“This collaboration showcases Discovery Vitality’s commitment to supporting and empowering their members,” Amod said.

“Members can easily manage their family’s health within a simple system that allows them to stay ahead of their Vitality Health Checks, and the benefits this delivers, as well as to protect themselves ahead of flu season.

“As South Africa has entered the flu season, it’s important that we make it as easy as possible for our members to find an approved Discovery Vitality partner at a convenient location for their flu vaccine and Vitality Health Check.

“Moving the booking journey onto this accessible, digital platform has allowed our members to simply click and book vaccines and Vitality Health Checks without waiting in a queue or spending time navigating long lists.

“The collaboration has allowed for Discovery Vitality to radically modernise and speed up access to healthcare providers for these essential services while transforming member experiences,” he added.

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d.light closes $176 securitized financing for off-grid solar in Kenya, Tanzania, Uganda

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Global provider of household products and affordable finance for low-income households, d.light, has announced closing $176 million in securitized financing for off-grid solar in Kenya, Tanzania and Uganda.

According to the CEO of the firm, Nedjip Tozun, the new financing was provided by social impact-focused asset management company, African Frontier Capital.

Tozun, in a statement, said the will use the facility “to scale up its PayGo consumer finance offering to make solar-powered products available to more low-income households and communities without access to electricity.”

He stated that the facility is multi-currency and will enable access to reliable, renewable energy for an estimated six million people across the three countries over the next three years.

“With this new facility, d.light has now closed securitized financing with a total combined purchasing value of USD$718 million across five separate facilities since 2020,” the CEO said.

“This new facility is another landmark step in d.light’s mission to provide people with affordable energy that is also clean, safe and sustainable.

“It lets us expand our reach so that millions of off-grid families across Kenya, Tanzania and Uganda can experience the benefits of solar energy.

“Facilities like this make possible our pioneering PayGo consumer financing model with which we are able to offer solar home systems and high efficiency appliances to the people that need them most in a way that is affordable and sustainable.”

“With this new facility, d.light has for the first time in its history receivables-based financing facilities in each of our PayGo markets – Kenya, Uganda, Tanzania, and Nigeria.

“These facilities allow d.light to remain consistently cash flow positive and remove the requirement for further external equity fundraising to fund our growth.”

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