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Nigerian Startup Treepz Raises $1.5M To Modernize Africa’s Transportation Systems

Nigerian transportation platform Treepz has now acquired Ugabus — a bus transportation service that groups inter-city bus operators in Uganda — due to an acquisition totaling $1.5 million in funding. According to TechCrunch, the funds served as an addition to a previous seed round from August, in which $1.3 million was raised. The contributors to the extension were Japan-based Uncovered Fund, Dubai-based Blanford Capital and Jonomi Capital and Egypt-based Jedar Capital. With recent funding, Ugabus — to be renamed Treepz beginning on Dec. 1 — currently houses 70 percent of the country’s bus operations and over 50,000 customers in Uganda, TechCrunch reports. Now the Nigerian transportation platform is one step closer to fulfilling its plans to expand throughout the continent. ​​“We’ll be able to service most of the major cities in Uganda, but the good thing about East Africa is they have very seamless borders between the countries, so it’s easy to move from Uganda to Rwanda, Uganda to...

Nov 22, 2021

Google CEO Announces $1B Investment In Africa To Support Its Digital Transformation

One mission Google has is to invest in initiatives that aid digital transformation, and their latest funding will go toward the continent of Africa. During its very first “Google for Africa” on Oct. 6, CEO Sundar Pichai announced that the company will invest $1 billion over the next five years in tech-led initiatives in Africa, according to TechCrunch. “We’ve made huge strides together over the past decade — but there’s more work to do to make the internet accessible, affordable and useful for every African,” Pichai said during the virtual event. “Today I’m excited to reaffirm our commitment to the continent through an investment of $1 billion over five years to support Africa’s digital transformation to cover a range of initiatives from improved connectivity to investment in startups.” The $1 billion investment will go toward “landing a subsea cable into the continent to enable faster internet speeds, low-interest loans for small businesses, equity investments into African...

Oct 6, 2021