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Pan-African accelerator platform Startupbootcamp AfriTech launches investor syndicate

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Startupbootcamp AfriTech, a pan-African accelerator platform, has announced the launch of a “mentor-led angel community and investor syndicate” which is designed to connect startups to mentors who will provide both operational help and venture capital.

Founder of the accelerator programme, Henry Ojuor, who announced the launch of the syndicate on Wednesday, said it was an offshoot of its Africa Startup Initiative Programme (ASIP) which was launched in 2021 to support the next generation of early-stage African tech startups disrupting a wide range of sectors.

“The investor syndicate aims to play a pivotal role in showcasing some of the most promising startups from Africa, and providing them with essential support such as funding, access to partnerships and resources,” Ojour said.

“In a concerted effort to ensure that startups within our network receive sustained and enduring value from mentors in our community, while also ensuring that mentors are able to capture some of the value they give to founders.

“We are thrilled to officially announce the inauguration of the OnAfrica Investment Syndicate, a groundbreaking venture facilitated by Startupbootcamp AfriTech.”

He added that the initiative was set to provide selected startups with check sizes ranging from $100,000 to $400,000 in comprehensive support, encompassing funding, mentorship, and guidance from an esteemed team of experienced angel investors.

“By leveraging pre-vetted startup deal flow through Startupbootcamp AfriTech’s extensive scouting network and due diligence frameworks, coupled with exclusive access granted by the Startupbootcamp alumni, members of this syndicate can participate in premier deal flow opportunities emerging from Africa.

“The aim is to do between $3 million and $5 million per year in startup deals through this network, and OnAfrica is calling on angels to join on the journey by submitting interest here,” he stated.

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Cut to undersea cable causes internet disruptions across East, Southern Africa

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Internet services across East and Southern Africa have suffered outages following undersea submarine cable cuts on Sunday.

According to the Group CTIO at Liquid Intelligent Technologies, Ben Roberts, in a post on X on Monday, the faults have been reported in the Eastern Africa Submarine Cable System (EASSy) and the Seacom cables.

Though details of the fibre cut are still unclear, Roberts said three crucial submarine cables in the Red Sea, the Seacom, EIG, and AAE1, suffered cuts and remain unrepaired, leading to the widespread outage.

“We have experienced an outage on one of the undersea cables that deliver internet traffic in and out of the country,” Roberts said.

“We have since activated redundancy measures to minimise service interruption and keep you connected as we await the full restoration of the cable. You may, however, experience reduced internet speeds,” he added.

Four of the nine subsea cables that connect countries like South Africa to the rest of the world were reported as damaged due to incidents on either side of the continent.

In Kenya, this latest outage seems to have affected service providers like Safaricom, Airtel and Telkom Kenya. Safaricom said has since activated redundancy measures to minimise service interruption and keep users connected, according to reports.

Other East African countries affected by the cut are Tanzania, Burundi, Uganda, and Rwanda.

This is the second time Africa has experienced a major fibre cut this year. In March, a suspected underwater rock slid off the coast of Cote d’Ivoire resulting in several submarine cables being offline which affected over 13 West African countries with greater impacts felt in Nigeria, Ghana and Senegal.

The affected cables included Africa Coast to Europe (ACE),
SAT-3 – Submarine Atlantic 3/West Africa Submarine Cable, WACS – West Africa Cable System and MainOne.

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Oracle to increase research, development investments in Morocco

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Global IT vendor, Oracle, has announced plans to expand its research and development (R&D) capabilities in Morocco by growing its local workforce to 1,000 information technology (IT) professionals.

Safra Catz, CEO of Oracle, who made the announcement on Friday, said the investment in the North African country will accelerate the development of Oracle’s cutting-edge technologies that help solve customer challenges worldwide.

“Oracle’s R&D center in Casablanca has already played a critical role in creating technical breakthroughs, enhancing cybersecurity, and delivering impactful new AI capabilities,” said Catz.

“By expanding our R&D presence in Morocco, we can further tap its deep talent pool to accelerate development of solutions that help our global customers grow their businesses and win in their industries,” he added.

Ms. Ghita Mezzour, Morocco’s Minister of Digital Transition and Administration Reform who signed the Memorandum of Understanding (MoU) on behalf of the government, said:

“This ambitious project falls within the strategic and comprehensive Royal Vision of His Majesty King Mohammed VI who called on encouraging Moroccan youth innovation and creativity.

“At this cutting-edge center, young Moroccans will be at the forefront of designing and developing innovative solutions, covering the latest technologies such as artificial intelligence, big data, cloud computing and cybersecurity.

“These solutions will be deployed on a global scale, thus strengthening Morocco’s positioning as a regional digital hub.”

Oracle’s expansion follows the opening of its Morocco Development Center facility at Casanearshore Park in Casablanca, where researchers use Oracle’s cloud, AI, and machine learning technologies to tackle the most pressing challenges facing business, science, and the public sector.

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