North Africa This Week [19th-25th November, 2018]

By  |  November 25, 2018

Here are the highlights of major happenings in the North African startup ecosystem this week.

Events Update

Achieveness Meetup #01: Fintech Foundation Held In Egypt

This crypto and fintech meetup was put together by Achieveness Training Academy in an event which took place at AlMaqarr Coworking Space (Greek Campus, Downtown Ad Dawawin) in Cairo, Egypt, between Friday, November 23, and Saturday, November 24.

The event focused on cryptocurrency, open banking, and digital cash, as well as the implications of these latest disruptions to the financial services industry.

Renowned fintech and blockchain expert, Ahmed Mansour, was the trainer at the event. The seasoned professional walked participants through such details as to how these novel technologies function, the implications on banks, businesses and consumers, as well as their limitations, risks, and societal implications.

It afforded experts in the fintech space, as well as fintech enthusiasts and aspiring entrepreneurs, the opportunity to get up to speed with the latest developments in the sector as it concerns digital currencies. Areas such as crowdfunding, P2P lending, mobile payments, robot advisors, big data, and financial inclusion were also treated.

MTE Business Meetup #04 Held In Egypt

In its fourth monthly instalment in Cairo, the event covered specific vital topics and highlighted emerging trends in the technology business.

MTE Business Meetup is a community forum for entrepreneurs and startups alike to share knowledge and experience about the business of technology and the entrepreneurship ecosystem in the MENA region.

This month’s instalment of the event focused on “Operations in Startups” with discussions designed for entrepreneurs, product managers, and stakeholders in the technology business to benefit from. The event took place on Saturday, November 24, at 302Labs Coworking Space in Cairo.

Funding Update

Egypt’s Swvl Secured Series-B Investment

This past week, Egyptian bus-booking platform, Swvl, grabbed headlines on the funding front with the announcement of a Series-B investment amounting to “tens of millions of dollars” secured from BECO Capital, DiGAME, Silicon Badia, and some other investors.

This development followed from an earlier development reported in April this year in which the startup raised USD 8 Mn in Series-A investment from mainly the same group of investors. And such a show of faith from the investors could be a testament that the startup which was established in 2017 by Co-Founders Mostafa Kandil, Ahmed Sabbah, and Mahmoud Nouh, is on track.

The investment is expected to assist the startup in the areas of building its team, developing some smart technology developments, and expanding into other regions.



Image Courtesy: Egypt Today

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