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3rd Egypt Entrepreneur Awards hots up as 35 startups shortlisted

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The 3rd edition of Egypt’s Entrepreneur Awards (EEA) scheduled for June 10 is gathering momentum with a total of 35 startups shortlisted across 11 categories spanning arts to business, according to the organisers of the prestigious award.

Founder of the EEA, Amr Mansi, disclosed during a press conference that the motivation to expand the categories was to offer “mentorships as a structure for healthy peer reviewing and encouragement, which is important now more than ever to build resilience amid the global economic challenges of today.”

“Across all the categories, the third edition of the EEA competition received 286 applications, and after significant deliberations by a panel of distinguished jury members, 35 nominees were chosen as finalists,” he said.

Egypt’s Entrepreneur Awards is around the corner, and is on a mission to celebrate and support the most resilient, innovative and successful business leaders making an impact on Egypt’s economy, the ‘People of Now’”, he added.

Since its launch in 2021, EEA has fast become a key component of Egypt’s entrepreneurial ecosystem.

“This award will go to those who’ve cracked the science of turning Art, in all any of its forms from photography to product design to brand creation to music to entertainment, into a business that broke boundaries in the industry.”

“We created this platform three years ago with a mission to recognise local, and now regional entrepreneurs, in a way that acknowledges their journey to success that has not been done before,” said Mansi.

“Through challenging times, these entrepreneurs have shown resilience and created real value for their industries in innovative and tangible ways such as product market fit, growth and financial stability, as well as social impact,” he added.

With all categories sorted, jury members will now meet to deliberate and interview the finalists over the next few weeks while the selected winners from the 14 categories will be announced at the awards ceremony on June 10 in Cairo.

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DR Congo sues tech giant Apple over illegal mineral exploitation

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The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation

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Moroccan retail-tech startup Z raises $1.5m to drive intense growth

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Morocco-based B2B retail-tech marketplace, ZSystems, has announced closing a $1.5 million seed funding round which will see it carry out its ambitious expansion dreams.

In a statement by co-founder and CEO, Meriem Benabad, the funding round was led by Morocco-based Venture Capital firms, MNF Ventures (through its MNF II fund), Witamax (through Fund II and III), Cash Plus Ventures, and Kalys Ventures.

“This funding marks a pivotal moment for Z, as we aim to scale operations and bring cutting-edge solutions to traditional retail.

“Our vision is to empower small businesses and unlock growth across Morocco and Africa,” Benabad said.

According to Benabad, the newly acquired capital will support Z’s technology development, product catalogue expansion, and preparation for its next growth phase.

“Z is reshaping the retail landscape by integrating technology and innovation across the value chain. Its scalable platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market,” he added.

Founded in 2022 by the trio of Benabad, Samer Choumar and Youssef Ait-Haddouch, Z’s platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market.

Since launch, the startup has helped over 15,000 active retailers, and seen more than 800,000 orders placed.

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