Tech

Nigerian maritime startup OnePort 365 secures $5m seed funding to digitise freight management across Africa

Published

3 years ago

April 30, 2022

A Nigerian maritime startup, OnePort 365, has secured a $5 million seed funding to drive end-to-end digitisation of freight management in Africa and support its expansion into new markets across the continent.

According to the CEO and founder of OnePort 365, Hio Sola-Usidame, the digital freight forwarding company makes it easier for importers and exporters to move their cargo to and from Nigeria to other parts of Africa.

“OnePort 365 has developed a freight forwarding platform that enables traders to efficiently and conveniently move cargo to, from and within Africa, providing complete transparency, visibility and control, minimizing cost inefficiencies and eliminating time and effort inefficiencies resulting from traditional supply chain management methods,” Sola-Usidame said.

“With active operations in Nigeria and Ghana, the startup is building an operating system for cross-border trade in Africa, and it has now raised a US$5 million seed round to support its efforts.

“We are super excited to have these investors onboard to support our mission to optimise cross-border trading across the continent.

“With new regulations like the Africa Continental Free Trade Agreement creating the potential for a new era of trade on the continent, we want to make it easier for traders to maximise the opportunity.

“We believe managing freights should be as easy as booking a flight or ordering a ride-hailing service and we are building the operating system to make this possible,” the startup CEO said.

Takeshi Watanabe, CEO of Mobility 54 Investment SAS who facilitated the sec fund, said he was delighted to support the OnePort 365 team as it embarked on the journey of digitising the end-to-end freight management process in Africa.

“There is great potential to unlock significant commercial opportunities across the continent by addressing the longstanding challenges that have made it difficult to move freights into and around the continent, and we are confident that OnePort 365 has what it takes to succeed,” Watabnabe said.

Related Topics:Featured Maritime Nigerian Startup Seed Funding

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Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

17 hours ago

December 18, 2024

Isaac Dachen

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

Tech

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

Published

4 days ago

December 15, 2024

Isaac Dachen

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.