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Egypt’s ed-tech startup, Almentor, secures $10m funding to accelerate expansion into MENA region

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Egyptian ed-tech startup, Almentor, a leading online video Arabic learning platform, has announced securing a $10 million pre-Series C round funding to help it accelerate growth into other MENA regions.

The CEO and co-founder of Almentor, Ibrahim Kamel, who made the disclosure on Friday, said with the funding, the platform is on the verge of achieving its goal of serving 10 million learners in the MENA region.

“Almentor aims to serve 10 million learners across the MENA region, and with the a $10 million pre-Series C funding from e& capital, the tech investment arm of e&. e& capital, and other investors like Partech, Sawari Ventures, Egypt Ventures, Sango Capital and Endure Capital, we are on the verge of getting there,” Kamel said.

“Empowering 10 million learners is a key milestone in Almentor’s broader vision of creating hope and development opportunities for the people in MENA.”

Founded in 2016, Almentor has worked with more than 950 prominent experts to create over 1,000 online courses for individuals, corporations, and government entities, combining a personalised learning experience with high-quality Arabic content.

With a choice of monthly or annual subscription, learners get unlimited access to a library of over 700 courses on topics as diverse as health, humanities, technology, entrepreneurship, business management, lifestyle, drama, sports, corporate communication, and digital media.

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CcHub selects 12 Nigerian startups for 2nd Mastercard Foundation EdTech cohort

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Co-creation Hub (CcHub) has selected 12 Nigerian innovative ed-tech startups to join the second cohort of its Mastercard Foundation EdTech Fellowship which provides industry support and funding to empower startups driving change in Africa’s education landscape.

According to the Managing Partner at CcHub, Nissi Madu, the 12 selected startups will “gain access to a wealth of technical and advisory resources, mentorship, including courses on the science of learning, and access to a global network to help scale their impact.”

“The selected ventures include language learning solution Topset; testing and learning platform Exam Scholars; Data Entry Academy (DEA), a virtual academy and community that empowers job seekers with fundamental skills; and Genti Media, which focuses on African education and storytelling,” Madu said in a statement.

“Also selected are school discovery and matching platform Edusko; on-demand professional development course provider Harde Business; animation skills provider Magic Lab Academy; and interactive learning platform Proud African Roots.

“The cohort is completed by AI-enabled learning platform for the visually-impaired Vinsighte; social-emotional learning platform IM FLOW; career development platform WIFICOMBAT; and online learning service Skill Up With Kahdsole.

“After a rigorous application and selection process, we are enthusiastic about the potential of the selected startups to enhance the face of ed-tech in the region.

“After the success of cohort one, we are excited about the second cohort’s potential to add to better education outcomes for students in Nigeria,” Madu stated.

Madu added that the fellowship had provided initial support to 12 Nigerian startups in 2023, as well as 12 Kenyan companies, and is now back for its second year.

In February 2023, CcHub had announced a new partnership with the Mastercard Foundation under the Mastercard Foundation EdTech Fellowship Programme to launch a US$15 million ed-tech accelerator initiative in Kenya and Nigeria.

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Kenya Revenue Authority partners UK to streamline customs valuation process

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The Kenya Revenue Authority (KRA), has struck a partnership with the United Kingdom (UK) to streamline the Customs valuation process which will make it more efficient, transparent, consistent, and predictable.

KRA’s Commissioner for Customs and Border Control Department, Ms. Lilian Nyawanda, in a statement on Monday, said the partnership will reduce disputes, ensure faster clearance of goods for businesses, and create a level playing field.

“This process is also expected to boost government revenues, resolve issues of trade based money laundering, and contribute to safeguarding consumers from unsafe and counterfeit products,” she said.

“As part of this enhancement, KRA with funding channelled through TradeMark Africa, by the UK, trained over 2200 people involved in import of goods.

“The two month-long activity convened customs staff, clearing agents, and traders from Nairobi, Mombasa, Eldoret, Busia, Malaba, Namanga, and Moyale to improve their understanding of valuation rules and enhance their awareness on recent updates to the system,” she said.

British High Commissioner to Kenya Neil Wigan, who also spoke on the partnership, said:

Kenya is at the heart of East African trade. We want that trade to operate at maximum efficiency, to benefit businesses and consumers across Kenya and East Africa.

“The UK and Kenya are working together in partnership to provide high quality infrastructure, which will deliver growth for Kenya and the region. We go far when we go together,” Wigan said.

The project supports the delivery of the UK-Kenya Strategic Partnership, an ambitious five-year agreement delivering mutual benefits for the UK and Kenya, including job creation and economic growth, Wigan added.

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