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Morocco’s Al Mada launches $110m investment fund for Africans. 1 other thing and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Morocco’s Al Mada launches $110m investment fund for Africans

Al Mada, a Morocco-based investment company, has launched a US$110 million pan-African venture capital fund.

The fund, according to the investment company, will be invested in fast-growing startups across the continent.

The company is controlled by the Moroccan royal family, and remains one of the largest private investment funds in Africa.

With an ambition to scale African venture, the new fund aims to attract innovative investors and take part in the exponentially-growing African startup landscape.

The fund is expected to focus on tech startup across the continent, with special interest in tech or tech-enabled startups in industries including financial services, health, logistics, education, and renewable energy.

Tech Trivia: Which of the following allows a hardware device to work with a computer?
A Assembler
B Interpreter
C Driver
D Keylogger
Answer: See end of post

READ ALSO: Kenyan fintech startup, Cashlet, launches micro-saving service. 2 other things and a trivia

2. Grindstone accelerator opens call for applications

South Africa-based company, Grindstone, has opened call for applications for its latest business accelerator.

The initiative seeks to offer startups access to a structured entrepreneurship development programme.

The accelerator is a structured entrepreneurship development programme co-owned by VC fund manager Knife Capital and Thinkroom Consulting, and principally funded by SA SME Fund.

Will Green, the programme director of Grindstone, while speaking on the development, noted that the ambition of the initiative was to help startups gain stability.

He said: “Almost a decade of growing businesses has realised an impressive alumni that has raised just less than two billion rand in venture capital and exits.

“Grindstone experts provide these technology companies with all the necessary support to build a foundation for growth so that they become more investable, sustainable, marketable and exit-ready.”

Trivia Answer: Driver

A driver, or device driver, is a software program that enables a specific hardware device to work with a computer’s operating system. Drivers may be required for internal components, such as video cards and optical media drives, as well as external peripherals, such as printers and monitors.

Most modern hardware is “plug and play,” meaning the devices will work without requiring driver installation.

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