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Week commencing 26 August
West African clothing manufacturer DTRT Apparel announced major investments from Verod Capital Management and Red Bull GmbH. DTRT employs over 2 000 people throughout West Africa and provides clothing to major US- and EU-based brands through a global network across three continents.
Liquid Africa 19 August
DOB Equity, a Dutch family-backed impact investor in East Africa, and Global Innovation Fund, in partnership with Unilever, have co-invested in Mr Green Africa, a Nairobi-based plastics recycler. Mr Green Africa sources materials with a traceable social and environmental impact and will use the investment to expand.
Liquid Africa 20 August
MEST, a pan African incubator, has announced investments in 11 start-ups that are set to receive $100,000 each in financing. This year’s investment recipients are from Nigeria, Kenya, Ghana and South Africa.
Liquid Africa 22 August
The East African Business Council has signed a $3.2m financing agreement with TradeMark East Africa. The deal is designed to support the implementation of a three-year programme focused on simplifying and harmonising trade procedures in the region.
The New Times 21 August
Saudi Arabia’s Nesma Airlines plans to buy two Airbus 320s to increase its passenger traffic to 450 000 to and from Egypt by the end of this year. Inbound tourism to Egypt rose to 11.3-million tourists in 2018 from 8.3-million in 2017.
Daily News Egypt 23 August
New York-based transportation app company InDriver has launched services in Lagos. The InDriver app allows for bargaining between drivers and users as users set the price for the trip, while drivers choose the most profitable and convenient orders.
The Guardian 22 August